(TheNewswire)
Vancouver, B.C. – TheNewswire - May 4, 2021 – Opawica Explorations Inc. (“Opawica” or the “Company”) (TSXV:OPW) is pleased to provide an update of its 100% owned Arrowhead gold property located in Québec.
The Arrowhead property consists of 19 mineral claims in a continuous claim block, totalling 400.76 hectares located 30 km east of Rouyn-Noranda in the Abitibi greenstone belt of Québec. The project is encircled by Agnico Eagle Mines Limited.
Summary Highlights
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- Historical channel sample 90.45 grams per tonne gold (“g/t Au”) over one metre
- Native gold is reported to occur in relatively small shoots
- Within the Rouyn-Noranda region of the Abitibi gold belt
- VMS Gold-rich polymetallic/Quartz-carbonate auriferous veins potential
“As our exploration season fast approaches, we are thrilled to give our shareholders some information on our flagship assets, while we prepare for a robust drill program. The data compiled over the last year has advanced our understanding of the Property significantly and we look forward to getting boots on the ground this season,” comments Blake Morgan, Chief Executive Officer of Opawica.
Arrowhead Property
The first prospecting started in 1920 on the major shear zone located in the northern part of the Property. In 1926, the exploration works consisted of prospecting, pitting, trenching and diamond drilling, mainly to test two shear zones containing quartz-carbonate veins with free gold. Gold values of up to 45.05 g/t were obtained over appreciable widths. Two main veins, designed as "A" and "B", were explored. This work subsequently led to underground exploration that started in 1936, a three-compartment shaft was sunk to a depth of 154 m. Levels were established at depths of 60.96 m, 106.68 m and 152.40 m. Drifting and crosscutting were carried out on all three levels on the "A" and "B" veins.
The 609.60 metre diamond drilling program carried out in 1929 returned several gold intersections, the highest grading 13.44 g/t Au over 3 m . On surface, the "A" vein was traced over 152.40 m, and gold values of up to 90.45 g/t Au (channel sampling) were obtained over one metre.
The historical drill holes by SOQUEM, Groupe Minier O and Agnico-Eagle intercepted 40 mineralized zones; most were mineralized with gold, but some did have copper and zinc. These mineralized intercepts enhance the Property’s potential for four types of mineralization:
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- Gold-rich volcanogenic massive sulphide (gold-rich VMS) deposits
- Volcanogenic massive sulphide (VMS) deposits, like at the Louvicourt mine
- Gold-rich polymetallic veins, like at the Doyon and Mouska gold mines
- Quartz-carbonate auriferous veins associated with regional E-W trending faults and shear zones, like at the O'Brien, Kewagama, Central-Cadillac, Wood-Cadillac and Lapa mines
Several veins have been found on the Property, but two quartz-carbonate veins known as veins "A" and "B" were the focus of the initial work in 1930’s. These two veins and many of the others strike E-W in sheared zones that cut metabasalts and metadacite. The veins dip steeply to the north and parallel to the schistosity.
Native gold is reported to occur in relatively small shoots and generally, where visible, in the fractures of the quartz. Both the "A" and "B" veins and most of the others on the Property consist of discontinuous lenses in the shear that forms the vein zone.
The Project has a favourable position on the Cadillac-Larder Lake Fault and represents an attractive target for future exploration.
Yvan Bussières, PEng, is the qualified person for Opawica and approves the technical content of this news release.
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 Québec 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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