(TheNewswire)
VANCOUVER, BC - TheNewswire – April 6, 2021 - One World Lithium Inc.(CSE:OWLI) (OTCQB:OWRDF) (CNSX:OWLI) (the “ Company ” or“ OWL ”) is pleased to announce that LayneDrilling from Hermosillo, Mexico will begin mobilizing the diamonddrill rig and related equipment to San Felipe this week for the DDH-3(diamond drill hole) program expected to begin on April 15, 2021.Layne Drilling will be sending three four man drill crews to drill 24hours per day.
As previously reported, DDH-3 is located approximately50 kilometers to the south of DDH-2 on the Company’s Salar delDiablo property, located in the State of BajaCalifornia, Mexico . Mike Rosko, the Operator, from Montgomery & Associates expects DDH-3and possibly DDH-4 will be more cost effective than previous holesdrilled as aa more aggressive drill bit will be used and DDH 3 and4 may only require total depths between 300 and 400 meters as DDH 1and 2 reached an average total depth of 624 meters. Mike also noted the prospective area of possible hydrothermalactivity may cover 20,000 hectares.
All samples will be assayed for drill holes DDH – 1through 4 with the assay results released at the same time. Oncompleting phase three of the drill program, OWL will have increasedits working interest in the Salar del Diabloproperty from 60% to 80%. 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.
In Mexico, mineral exploration has been deemed anessential service despite the country’s various Covid-19restrictions and, at present, the States of Baja California and Sonoracurrently have no further restrictions.
Lithium SeparationTechnologies
An ecosystem of junior mining companies are looking totake market share from major producers to meet the demand for highquality lithium chemicals and new resources to obtain these has becomeone of the most important emerging themes inlithium over the last five years. 1 Accordingly, many of these new technologies can be developedand used in house by junior mining companies.
OWL has the right to purchase 100% of a lithiumseparation technology which is subject to a proof of concept testing.The Company hopes this may be successful within two months. Thetechnology has the potential to separate lithium carbonate(“ LCE ”) from a brine and, because of this, the Company perceivesthe technologies implementation as a potential industry game changer.Accordingly, some of the potential benefits may include not requiringevaporation ponds to separate LCE as well as returning the waste brineback to its producing brine formations that may stabilized the brineformation and extend a mine’s life.
For more information, please see the Company’s pressrelease dated October 27, 2020.
One World Lithium Trends
-
- OWL’s recent private placement offering wasoversubscribed by 50% for proceeds of CAD $2,250,000. 2
- During the three month period ended December 31,2020, OWL’s secondary market traded 4.5 million common shares (each,a “ Share ”) and in the first quarter ended March 31, 2021 it hastraded 23.4 million Shares, for an increase of 421%. 3
Lithium Industry Trends AreImpressive
-
- The seaborne LCE battery grade spot price hasincreased from USD$6,000 to USD$7,500 per tonne on October 23, 2020 toUSD$9,500 to USD$11,000 per tonne on March 19, 2021 (trading betweenChina, South Korea, and Japan). 4
-
- Since January 1, 2021, Bloomberg reported a total of US$3.4 billion raised in equityfinancings in the North and South America whichis seven times the total amount raised from 2018 to 2020. 5
- Since January 1, 2021 to March18 , 2021, Bloombergreports that junior lithium companies have raised an aggregate ofUSD$529 million from the capital markets. That is about USD$63 millionmore than the total amount raised from 2018 to 2020 . 5
- The demand for lithium for electrical vehicles(“ EVs ”) is expected to in increase approximately 599% by2025. 6
Given the renewed investor interest in the lithiumsector which is driven by significant increases in the price oflithium carbonate equivalent (LCE), it has impacted OWL as itsprevious private placement was oversubscribed by 50% or $750,000 andits secondary market trading volume also increased over 421% to 23.4million shares from the three month period ended December 31, 2020compared to the three month period ended March 31, 2021. This is inresponse to the increase in demand for lithium-ion batteries.
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,located in the State of Baja California, Mexico. Upon completion of athree phase drill program, OWL will earn an additional 20% propertyinterest and has an option to purchase a further 10% property interestfor a total of a 90% property interest in the 103,450 hectare (399square mile) Salar del Diablo lithium brine project.
On behalf of the Board of Directors of One WorldLithium Inc.
“DouglasFulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com or call 1-604-564-2017 Extension-3.
Forward-Looking Information andDisclaimer: This press release may include forward looking informationwithin the meaning of Canadian securities legislation. Forward lookinginformation is based on certain key expectations and assumptions madeby the management of the OWL, including the expected start date of theCompany’s DDH-3 drill campaign, costs and depths for the Company’santicipated DDH-3 and DDH-4 drill programs, the market trends of thelithium and elective car industries, the intention of OWL to proceed with theadvancement of the Salar del Diablo property, or the Company’sability to exercise its right to acquire a 100% interest in certainlithium separation technology and the anticipated benefits therefromobtained by the Company. Although OWL believes that the expectationsand assumptions 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 theCompany’s mineral property (IV) risks and market fluctuations commonto the mining industry andlithium sector, (V) advancements in new separation technologies, and(VI) other general business, economic, or market related risks beyondthe director control of the Company and which may adversely affect theCompany’s business or operations. The reader is cautioned thatassumptions used in the preparation of any forward-looking informationmay prove to be incorrect. Events or circumstances may cause actualresults to differ materially from those predicted, as a result ofnumerous known and unknown risks, uncertainties, and other factors,some of which are beyond the control of the OWL. The reader iscautioned not to place undue reliance on any forward-lookinginformation contained in this press release.
This press release also containscertain information and data taken from various third party sources.Please note that any opinion, estimate or forecast made by the authorsof such third party statements presented in this press release aretheirs alone and do not represent opinions, forecasts or predictionsof the Company or its management. OWL does not, by the reference ordistribution of these quotes, links, or citations imply theirendorsement of or concurrence with such information, conclusions orrecommendations.
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.
1 Chris Berry and Alex Grant, “ Gradually, Then Suddenly: Adoption of NewTechnology in Lithium Brine Extraction ”, House MountainPartners (September 24, 2019).
2 Seethe Company’s news releases dated September 15, 2020 and March 2,2021 for more information.
3 Figures taken from the Stockwatch’swebsite: https://www.stockwatch.com /symbol OWLI/historical.
4 Carrie Shi & Susan Zou DaliliaOuerghi, “GLOBAL WRAP: Bullishoffers from Chinese producers narrow domestic carbonate rangefurther”, Fastmarkets (October 23, 2020) and Susan ZouDalilia Ouerghi, “GLOBAL LITHIUMWARP: Seaborne Asia prices play catch up ”, Fastmarkets (March19, 2021).
5 Yvonne Yue Li, “ Wall Street is Betting Billions onEV-Fueled Lithium Comeback”, Bloomberg News (March 19, 2021).
6 MaxxChatsko, “Lithium Demand forElectric Vehicles Could Grow 599% by 2025” , Motley Fools(March 24, 2020).
Copyright (c) 2021 TheNewswire - All rights reserved.