Vancouver, BC, April 29, 2020 – One World Lithium Inc. (OTCQB-OWRDF) (CSE-OWLI) (the “Company” or “OWL”) is pleased to announce that the Mexican Federal Government has announced in response to COVID-19 that they are planning and expect that work on mining and mineral exploration programs may be in a position to proceed as early as June 2020. With this announcement being made, the Company is planning to begin the next phase of drilling in early June 2020 at its Salar del Diablo Property located in the State of Baja California, Mexico following completion of the recently announced financing (April 23, 2020).
The area for this next phase of drilling (as previously reported on both the December 12, 2019 and the February 13, 2020 news releases) is in a key location at the southern end of the property. Diamond drill hole DDH -3 and potentially DDH-4 are located 50 kilometers (31 miles) south of the drill hole DDH-2 in the north portion of the claim block (see location map).
As previously reported in a news release dated December 12, 2020 Mike Rosko of Montgomery & Associates and the Operator of the current drill program, noted “there is evidence of historic and currently active hydrothermal activity in the south near the DDH-3 proposed location. Hydrothermal activity can be a source of lithium, such as in the lithium Triangle in Chile and Argentina. Depending on the results from DDH-3, the fourth hole is planned to be drilled in the same area.”
Finance
OWL had announced on April 23, 2020 the terms of a new non-brokered private placement of 20,000,000 units priced at $0.05 per unit for gross proceeds of $ 1,000,000 CDN. Each unit also has a full warrant with a term of three years that may be exercised at $0.10 per warrant.
Layne Drilling
The Company has previously used Layne Drilling from Hermosillo, Mexico to carry out the last two phases of drilling. Layne did an excellent job in both phases and the Company plans to utilize their service again. It was suggested by Layne to use a track mounted skidder rig that is capable of getting to depth required (approximately 600 metres) as well as being fully capable of mobilizing to the hole locations.
Doug Fulcher, President and CEO of OWL notes “We are impressed with the Mexican Federal Governments successful balance to protect people from the COVID -19 Virus and the current plans to potentially resume mineral exploration in parts of Mexico as early as June 2020. We are excited about this next phase of drilling; drill hole DDH-3 is targeted in an area of a hydrothermal system as well as favorable geology and anomalous surface lithium Geochem results.”
Critical Separation of Lithium and Other Elements from Brine Technology
This critical fluid technology may be a low-cost method of separating lithium and other related minerals from a brine. The separation plant would be placed at a producing brine well. The separation technology may also eliminate the use of evaporation ponds. The proof of concept will be directed by Dr. Rajender Gupta at a University of Alberta laboratory. The tests should take 3 months. The costs of the testing may be covered by a Government grant. A formal agreement will not be completed until the test results are successful.
About One World Lithium Inc.
One World Lithium Inc. is an exploration company focused on lithium in brine projects. It currently owns an undivided 60% interest. in the 103,430 hectare (399 square mile) Salar del Diablo lithium brine project located in the State of Baja California, Mexico. On completion of this next phase of drill, the Company will have earned an additional 20% property working interest for a total of an 80% property interest with an option to purchase an additional 10% property working interest after receiving a bankable feasibility report.
Mike Rosko, SME Registered member and a Qualified Person as defined by the Canadian National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this news release.
On behalf of the Board of Directors of One World Lithium Inc.,
“Douglas Fulcher”
Douglas Fulcher, CEO and President
For further information please visit www.oneworldlithium.com or email [email protected] or call 1- 888-280-8128.
Original Article: https://oneworldlithium.com/wp-content/uploads/2020/04/OWL_Corporate-Update-NR_FINAL_04-29-2020.pdf#new_tab
