(TheNewswire)
V ancouver , BC - TheNewswire - April 21, 2021 - One World Lithium Inc.(C NSX: OWLI. CN ) (OTC:OWRDF) (the“Company”) (“OWL”) The Company is pleased to announcethe DDH-3 drilling program has formally started today, April 21, 2021,with mobilization of heavy equipment to the site. Drilling will occur24 hours a day.
The drilling date was previously announced to be April15, 2021, however the San Felipe Baja 250 desert race took place fromApril 14 to 18, 2021 which crossed the DDH-3 location for five days,so the drilling program was delayed.
Some of the following information has been previouslyreported in the Company’s news released on March 16 and April 06,2021. DDH-3 (diamond drill hole) is 50 kilometers south of DDH-2 anddepending on results, OWL may drill more diamond drill holes inthe immediate area.
Mike Rosko, the Operator, prefers drilling at DDH-3’slocation as there is historic and current hydrothermal activity thatare evident and is often a source of lithium, such as in the LithiumTriangle in Argentina and Chile. The surface area of the hydrothermalactivity at the DDH-3 location is approximately 20,000 hectares or 77square miles.
DDH-3’s total depth to sample brines or sedimentswhere hydrothermal activity may have occurred which is likely between300 and 400 meters. There has not been any previous drilling at thesouth end of the Property, so the expected time to reach the totaldepth at the DDH-3 location is unknown.
The Salar del Diablo Property is 103,450 hectares (399square miles) and located in the State of Baja California, Mexico.Globally, the Salar del Diablo is one of the larger Salars to bedrilled in 2021.
OWL currently owns a 60% property working interest. Thethree or more drill holes are part of the Phase three program and oncompletion, OWL will then own an 80% property working interest with aonetime option on receiving a Bankable Feasibility Study to purchasean additional 10% property working interest for a total propertyworking interest of 90 %. For more informationon Salar del Diablo property and the terms of the Company’s optionthereon, please see the Company’s press release dated March 10,2017, and July 28, 2017.
The States of Sonora and Baja California in Mexico havedeemed mineral exploration an essential service with no disruptions todate caused by Covid-19.
All drill hole samples from the current three or moreholes will be assayed at ALS labs with an expected turnaround time oftwo to three weeks. After interpretation, the assay results will bereleased.
Mike Rosko, SME Registered member and a QualifiedPerson as definedby the Canadian National Instrument 43-101, hasreviewed and approved the scientific and technical disclosurecontained in this news release.
About One World Lithium Inc.
One World Lithium Inc. is an exploration companyfocused on lithium in brine projects and new lithium separationtechnologies. OWL has the right to own 100% of the separationtechnology, subject to a positive proof of concept program. OWL hasearned a 60% property interest in the Salar del Diablo property. Oncompleting the Phase three drill program, OWL will earn an additional20% property interest and has an option to purchase a further 10%property interest for a total of a 90% property interest in the103,450 hectare (399 square mile) Salar del Diablo Lithium Brineproject located in the State of Baja California, Mexico.
On behalf of the Board of Directors of OneWorld Lithium Inc.
“DouglasFulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or emailinfo@oneworldlithium.com
or call 1-604-564-2017 Extension-3.
Forward-Looking Information: Thispress release may include forward looking information within themeaning of Canadian securities legislation. Forward lookinginformation is based on certain key expectations and assumptions madeby the management of the OWL, including the intention of OWL toproceed with the advancement of the Property or with the SeparationTechnology. Although OWL believes that the expectations andassumptions on which such forward looking information is based arereasonable, undue reliance should not be placed on the forward-lookinginformation because OWL can give no assurance that they will prove tobe correct. Forward looking statements contained in this press releaseare made as of the date of this press release. OWL disclaims anyintent or obligation to update publically any forward-lookinginformation, whether as a result of new information, future events orresults or otherwise, other than as required by applicable securitieslaws. There can be no assurance that such statements will prove to beaccurate and actual results and future events could differ materiallyfrom the those anticipated in such statements, important factors thatcould cause actual results to differ materially from the company’sexpectations include: (I) inability of OWL to execute its businessplan and raise the required financing (II) accuracy of mineral orresource exploration activity (III) continued access to mineralproperty (IV) risks and market fluctuations common to the miningindustry and lithium sector in particular and (V) advancements in newseparation technologies. The reader is cautioned that assumptions usedin the preparation of any forward-looking information may prove to beincorrect. Events or circumstances may cause actual results to differmaterially from those predicted, as a result of numerous known andunknown risks, uncertainties, and other factors, some of which arebeyond the control of the OWL. The reader is cautioned not to placeundue reliance on any forward-looking information contained in thispress release.
Neither the Canadian SecuritiesExchange nor its Market Regulator (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
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