Vancouver, August 16th, 2021 - Opawica Explorations Inc.
(TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce it has received surface exploration approvals for the 2021 field season from the Department of Natural Resources, Newfoundland and Labrador. The exploration approvals are for Chapel Island, Density, Eclipse, and Mass properties to undertake surface fieldwork including geochemical surveys and prospecting.
Blake Morgan, chief executive officer of Opawica stated, "With permits in hand we can begin our path to drilling in Newfoundland. We will move to get crews on the ground in the coming weeks."
The Opawica project areas cover more than 217 square kilometres along and between the Red Indian Line (RIL) and the Valentine Lake shear zone (VLZS) in the Central gold belt of Newfoundland. The Company's prospective holdings extend for more than 50 km along the Central gold belt, a northeast-trending structural zone extending across Newfoundland. These regionally extensive fault zones are deep crustal sutures, which localize deformation and fluid flow and host orogenic-style gold-bearing quartz veins and stockwork zones.
Companies working on active gold projects within this belt and the broader Exploits subzone have noted similarities in the geological setting and characteristics with the Abitibi greenstone belts in Ontario and Quebec, Canada, and the Bendigo-Fosterville gold deposits in Australia. Regionally, till and lake sediment sampling programs provided by the Newfoundland and Labrador Geological Survey defined northeast-trending clusters of gold-in-till anomalies south of the Red Indian Line.
Newfoundland has long been known to have many gold occurrences with relatively little modern exploration. Historical production from the Hope Brook, Nugget Pond and Point Rousse projects have been typical of the province's mines with relatively modest production from high-grade deposits.
More recently, significant drill intersections were announced by New Found Gold Corp. (TSXV-NFD) including 146.2 g/t gold over 25.6m (New Found Gold press release dated May 21, 2021). Many explorers in the region continue to produce positive drill results which has led to extensive staking and expanded landholdings within Newfoundland's Central gold belt giving rise to a modern-day gold rush.
Opawica has terminated the company's option on the Enterprise Property and returned it to the vendor.
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Derrick Strickland, P Geo (1000315), is the qualified person for Opawica Explorations and has reviewed and approved the technical content of this news release. The qualified person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
Opawica announces the resignation of Sandra Wong as CFO and the appointment of Marcy Kiesman as the new CFO. The company wishes to say thank you to Mrs. Wong for all her hard work. Marcy Kiesman is a CPA, CMA with over 15 years experience in the public markets. She is able to provide Opawica with a competitive advantage combining accounting, finance and strategic planning.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec and in Central Newfoundland and Labrador. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
President and Chief Executive Officer
Opawica Explorations Inc.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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