Opawica Explorations Inc. Completes Acquisition of Drill-Ready Cornwall Property
Vancouver, October 17, 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") announces that further to its news release dated October 3, 2022, the Company has completed the acquisition (the "Acquisition") of the Cornwall property (the "Cornwall Property" or the "Property"), located in the Kootenay Terrane of south-eastern British Columbia. Through the Acquisition, the Company has acquired all of the issued and outstanding shares of 1381766 B.C. Ltd., the registered owner of the Cornwall Property, in exchange for ten million common shares of the Company. The Cornwall Property has five copper target areas consisting of pyrite and chalcopyrite hosted in a quartz-rich amphibolite. Mineralization is consistent with Besshi or Cyprus type VMS exhalative sulphides deposited in a mafic volcanic environment. The South, Dunn Creek, and Dunn Road showings appear to be on the same sulphide-bearing stratigraphic horizon which has been tentatively traced along a strike length of over 2km. The North showing is similar in character but appears to be off stratigraphic trend from the other showings.
Mineralization at the North Showing is visible at surface across an east-west oriented trench over 40 metres long by 2.5 metres wide. Three lithologic units are observed in the trench. Calcareous and volcanic rocks are altered to schist with quartzite layers. Mineralization of massive beds of pyrite and chalcopyrite are observed.
Mineralization at the Dunn Creek occurrence is observed in sub - outcrop and float material exhibiting disseminated and blebular chalcopyrite and pyrite within a rusty altered schist. Strong copper mineralization is reported in the metavolcanic sequence and assays as high as 3.14% copper were obtained from the showings. Historical reports indicate copper mineralization in three "shear zones" in diorite, with the widest being 1.2 metres wide.
The South showing of the occurrence is a 10-metre area of outcrop and sub-outcrop. The outcrop area is silicified quartz-biotite-amphibole schist and gneiss with semi-massive and disseminated bands and layers of chalcopyrite and pyrite. A historical chip sample returned 1.07% copper, and 6 g/t silver.
Derrick Strickland, P. Geo (100315), is the qualified person for Opawica Explorations and approves the technical content of this news release.
About Opawica Explorations Inc.
Opawica Explorations 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 Quebec, and in central Newfoundland and Labrador. The company's management has a strong record of 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
Blake Morgan
President and Chief Executive Officer
Telephone: 604-681-3170
Fax: 604-681-3552
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.
Forward-Looking Statements
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 include statements with respect to the Company's intended work program at the Cornwall Property. 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.
