(TheNewswire)
Vancouver, B.C. - TheNewswire - April 29, 2021 - Opawica Explorations Inc. (“Opawica” or the “Company”) (TSXV:OPW) is pleased to announce that it is in process of evaluating its data on its structurally controlled lode gold targets in the Abitibi greenstone belt in Québec and central Newfoundland Appalachians, Rogerson structural corridor in Newfoundland and Labrador to develop future work programs.
Québec
The Abitibi greenstone belt, which is 150 km wide and stretches 650 km from roughly Wawa, Ontario to Val d'Or, Québec, has produced millions of ounces of gold over its history, with the Cadillac gold camp, Virginia town, Rouyn-Noranda gold camp and Val d'Or gold camp being just a few of its largest contributors.
Québec is home to 27 producing mines and over 530 surface mineral mining operations, valuing Québec's mineral shipments at $8.11 billion in 2016 (Investissement Quebec).* Québec is Canada's second-largest producer of gold, largest producer of iron and zinc, and the only North American producer of niobium. The mineral wealth is evident and is a big reason The Fraser Institute ranks Québec among the world's top 10 in mining investments. Based on the historical data of the Company’s holdings in Québec, the Company recognizes that there are several unresolved structural anomalies throughout the area.
Opawica’s Québec properties are strategically located in the Rouyn-Noranda Camp of the Abitibi greenstone belt with the following features:
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- Arrowhead Property is completely surrounded by Agnico Eagle Mines Limited.
- Bazooka Property is contiguous to the Wasamac Gold* project owned by Yamana Gold and contiguous to the east of the Rouyn Gold* property optioned by IamGold Corp.
- McWatters Property is directly east of the Grenada Gold Mine*.
see www.opawica.com for details
Newfoundland and Labrador
Newfoundland's Rogerson structural corridor gold district occurs within a northeast-trending structural corridor defined by crustal-scale faults extending from southwestern to north-central Newfoundland. The Rogerson Lake conglomerate characterizes the structural corridor. The presence of conglomerate reflects preservation of syn-orogenic upper crystal clastic sequences commonly associated with orogenic gold vein systems. The largest known gold resource along this corridor occurs at Marathon Gold Corp.'s Valentine Lake property.
“Quote,” Blake Morgan, President of Opawica, states “The progress Opawica has made on its gold targets has advanced significantly since this time last year. Understanding the structures in this region is key and I am very pleased with the team’s progress.”
Yvan Bussières, PEng, is the qualified person for Opawica and approves the technical content of this news release.
* The qualified person has not verified the information on the Abitibi greenstone belt, and the information disclosed is not necessarily indicative of mineralization on the Company's properties that is the subject of this press release. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
About Opawica Explorations Inc.
Opawica is a Canadian mineral exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec and in Central Newfoundland and Labrador. The Company's management has a great record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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