OPW:CC - Opawica Completes Acquisition of Drill-Ready Cornwall Property
(TheNewswire)
Vancouver, B.C. – TheNewswire - October 17, 2022 - Opawica Explorations Inc.(TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the " Company " or " Opawica ") announces that further to its newsrelease dated October 3, 2022, the Company has completed theacquisition (the “ Acquisition ”) of the Cornwall property (the“ Cornwall Property ” orthe “ Property ”), located inthe Kootenay Terrane of south-eastern British Columbia. Through theAcquisition, the Company has acquired all of the issued andoutstanding shares of 1381766 B.C. Ltd., the registered owner of theCornwall Property, in exchange for ten million common shares of theCompany.
The Cornwall Property has five coppertarget areas consisting of pyrite and chalcopyrite hosted in aquartz-rich amphibolite. Mineralization is consistent with Besshi orCyprus type VMS exhalative sulphides deposited in a mafic volcanicenvironment. The South, Dunn Creek, and Dunn Road showings appear tobe on the same sulphide-bearing stratigraphic horizon which has beententatively traced along a strike length of over 2km. The Northshowing is similar in character but appears to be off stratigraphictrend from the other showings.
Mineralization at the North Showing isvisible at surface across an east-west oriented trench over 40 metreslong by 2.5 metres wide. Three lithologic units are observed in thetrench. Calcareous and volcanic rocks are altered to schist withquartzite layers. Mineralization of massive beds of pyrite andchalcopyrite are observed.
Mineralization at the Dunn Creekoccurrence is observed in sub - outcrop and float material exhibitingdisseminated and blebular chalcopyrite and pyrite within a rustyaltered schist. Strong copper mineralization is reported in themetavolcanic sequence and assays as high as 3.14% copper were obtainedfrom the showings. Historical reports indicate copper mineralizationin three "shear zones" in diorite, with the widest being 1.2metres wide.
The South showing of the occurrence is a 10-metre areaof outcrop and sub-outcrop. The outcrop area is silicifiedquartz-biotite-amphibole schist and gneiss with semi-massive anddisseminated bands and layers of chalcopyrite and pyrite. A historicalchip sample returned 1.07% copper, and 6 g/t silver .
Derrick Strickland, P. Geo (100315), is the qualifiedperson for Opawica Explorations and approves the technical content ofthis news release.
About Opawica ExplorationsInc.
Opawica Explorations is a junior Canadian explorationcompany with a strong portfolio of precious and base metal propertieswithin the Rouyn-Noranda region of the Abitibi gold belt in Quebec,and in central Newfoundland and Labrador. The company's management hasa strong record of discovering and developing successful explorationprojects. The company's objective is to increase shareholder valuethrough the development of exploration properties using cost-effectiveexploration practices, acquiring further exploration properties, andseeking partnerships by either joint venture or sale with industryleaders,
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 RegulationService Provider (as the term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy of accuracyof this news release.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management’s current expectations and assumptions. Suchforward-looking statements include statements with respect to theCompany’s intended work program at the Cornwall Property. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees, and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, but not limited to, marketconditions, availability of financing, actual results of theCompany’s exploration and other activities, environmental risks,future metal prices, operating risks, accidents, labor issues, delaysin obtaining governmental approvals and permits, and other risks inthe mining industry. All the forward-looking statements made in thisnews release are qualified by these cautionary statements and those inour continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof andthe Company does not assume any obligation to update or revise them toreflect new events or circumstances save as required by applicablelaw.
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