VANCOUVER, October 05, 2021 - One World Lithium Inc.
(CNSX:OWLI.CN) (OTC:OWRDF) (the "Company") ("OWL") is pleased to announce the drilling of DDH-4 (diamond drill hole) that, as noted in the Company's news release of September 23, 2021 had commenced at its Salar Del Diablo Lithium Brine Project in Mexico.
DDH-4 reached a depth of 381 meters (1,250 feet) on October 2, 2021, with an expected total depth of 600 meters. The project field manager has taken samples from a 50 meter zone between 331 and 381 meters. Drilling resumed late on October 03, 2021. If the results of DDH-4 warrant it, other boreholes will be drilled in the area.
The Operator, Mike Rosko of Montgomery & Associates notes that DDH-4 may intersect "historic and current hydrothermal activity is evident and may be a source of lithium, such as in the Lithium Triangle in Argentina & Chile
Clarification on Critical Fluid Separation Technology.
In the Company's news released on September 23, 2021, it noted the proof of concept was delayed for its critical fluid separation technology. The company's clarification is the delay has been nominal and will provide updates from time to time.
Current Price of Lithium Carbonate
As reported by Fastmarkets on September 26, 2021, the spot price of lithium carbonate continues to rise by 40.1 % from the previous month average, going from $ 14,630 USD to $ 20,500 USD per metric ton1. So, since September, 2020 the spot price of lithium carbonate has risen from $ 6,750 USD to $ 20,500 per metric ton which is a 204 % increase.
Mike Rosko, SME Registered member and a Qualified Person as defined by the Canadian National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this news release.
About One World Lithium Inc.
One World Lithium Inc. is an exploration and development company focused on lithium in brine projects and new lithium separation technologies. It currently has earned a 60% property interest in the Salar del Diablo property. On completing the southern drill program, OWL will earn an additional 20% property interest and has an option to purchase a further 10% property interest for a total of a 90% property interest in the 103,450 hectare (399 square mile) Salar del Diablo Lithium Brine project located in the State of Baja California, Mexico.
On behalf of the Board of Directors of One World Lithium Inc.
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email firstname.lastname@example.org or call 1-604-564-2017 Extension-3.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including the intention of OWL to proceed with the advancement of the Property or with the Separation Technology. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this press release. OWL disclaims any intent or obligation to update publically any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company's expectations include: (I) inability of OWL to execute its business plan and raise the required financing (II) accuracy of mineral or resource exploration activity (III) continued access to mineral property (IV) risks and market fluctuations common to the mining industry and lithium sector in particular and (V) advancements in new separation technologies. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
1.Figures taken from Lithium price spotlight - Weekly price updates -Fastmarkets (September 26, 2021) https://www.fastmarkets.com/commodities/industrial-minerals/lithium-price-spotlight?utm_source=spotlight-alert&utm_medium=email-marketing&utm_campaign=lithium&mkt_tok=Mzc2LUtWVi0xNzcAAAF_xJjK-3x4bYHsMEGg2DJULKqtk7kKD5mUr8k-eJxj_JPnDPK80C9h7yIAHBK6SquD_8ojXHv2WAPY0wFyd2Rtt18zXclhzUI8wfzmTwh0kA
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