(TheNewswire)
VANCOUVER, BC - TheNewswire – March 16, 2021 - One World LithiumInc. (CSE:OWLI) (OTCQB:OWRDF) (CNSX:OWLI.CN) (the“Company”) (“OWL”) The Company is pleased to announcewith the oversubscribed financing completed, the Phase three drillingprogram will resume on April 15, 2021 at its Salar del Diablo Propertylocated in the State of Baja California, Mexico. Crews will mobilizeto DDH-3 drill location at the beginning of April and will startdrilling on or before April 15. If the results of DDH-3 warrant, theDDH-4 will be drilled in the same area. Montgomery & Associateswill continue to be the Operator for the remainder of the phase threeprogram.
As previously reported, DDH-3 (diamond drill hole) islocated approximately 50 kilometers to the south of DDH-2. Mike Roskoof Montgomery & Associates had previously suggested exploration inthe southern end of the Property where there is evidence of historic and currently active hydrothermal activity in thesouth and that hydrothermal activity can be a source of lithium suchas in the Lithium Triangle in Chile and Argentina.
The prospective area of possible hydrothermal activitymay cover up to 20,000 hectares. In keeping with this, the operatorchose the location to drill DDH-3 where an all weather road providesexcellent access to DDH-3 location.
Layne Drilling from Hermosillo, Mexico has been engagedagain to carry out this phase of drilling. The same skidder mounteddrill rig that drilled DDH-1 and -2 will be used for drilling thisphase. On DDH-1 it reached a total depth of 650 meters.
On completing Phase three, OWL will have earned anadditional 20 percent property working interest from Energy MetalsDiscovery Group for an 80 percent property working interest.
Doug Fulcher, the Company’s President and CEO said“Last year proved to be a very tough year for exploration Companiesto start and carry out their exploration programs. Now that we arefunded, our Company can complete Phase three drilling withoutoperational concerns or further financing.”
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 email info@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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