(TheNewswire)
VANCOUVER, BC - TheNewswire – September 23, 2021 - One World LithiumInc. (CSE:OWLI) (OTC:OWRDF) (CNSX:OWLI.CN) (the “Company”) (“OWL”) announces that DDH-4 (diamond drill hole) is drilling at alocation 16 kilometers north of DDH-3 or 34 kilometers south ofDDH-2. DDH-4 is currently drilling the upper part of the boreholeand preparing to drill to a depth of up to 600 meters in anticipationof encountering a suspected deep brine system. DDH-3 was abandoned at230 meters due to difficulty accessing the hole location.
DDH-4’s location is recommended by OWL’sOperator, Montgomery & Associates. DDH-4 has a planned totaldepth of 600 meters. The Operator noted “The bore hole may intersecthistoric and current hydrothermal activity that are evident and isoften a source of lithium, such as in the Lithium Triangle inArgentina and Chile”. DDH-4 may intersect hydrothermal activity atless than 600 meters. If DDH-4 is successful OWL may elect to drilladditional holes in the southern concessions.
DDH-4 is the fourth exploration borehole of a fourborehole program designed to explore the Salar del Diablolithium-brine project that covers 103,450 hectares located in theState of Baja California, Mexico. OWL currently owns a 60% propertyinterest and on completion of the program, it will have earned anadditional 20% property interest and has an option to purchase afurther 10% for a total of a 90% property interest.
Lithium Industry Trend.
As reported by Fastmarkets on September 12, 2021, thespot price of lithium carbonate has risen 23% from the previous monthaverage, going from $ 14,630 USD to $ 19,000 USD per metricton 1 . This has also been reflected in the share prices of both junior exploration and majorproducers alike.
Update on Critical Fluid SeparationTechnology .
The Company has delayed the proof of concept testingprogram in order to review other patented processes in the same fieldof use with the intention to enter into a joint venture arrangement.
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.
O n behalf of the Board ofDirectors of One World Lithium Inc.
“DouglasFulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com orcall 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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1. Figures taken from Lithiumprice spotlight – Weekly price updates -Fastmarkets (September 12,2021) https:/www.fastmarkets.com/commodities/industrial-minerals/lithium-price-spotlight?utm_source=spotlight-alert&utm_medium=email-rketing&utm_campaign=lithium&mkt_tok=Mzc2LUtWVi0xNzcAAAF_fH_rb4X94xcmCmKtuDWs93-1T1cNnPgmFRDpGppMpTasbdFh_zkmIHVMb5QuyjSCxj_Gqjsf9_WVavAscV7Qr0eeEH4iTFICm4DNuUXeXw
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