One World Minerals Inc. announces second phase work program including 4000m of drilling on its Rico Litio Lithium Project
VANCOUVER, BC – One World Minerals Inc. (OWM-CSE) (the “Company”) is pleased to announce the start of a second phase exploration program on the Company’s Rico Litio lithium property located in the State of California Baja Norte, Mexico. Logistical preparations are underway with field crews on the property within three weeks and concluding with a 4000 metre (13,000 foot) drill program to be completed by the end of June 2017.
The second phase program will consist of 80 kilometres (50 miles) of surveyed grid lines in the northern portion of the property in preparation to complete a time domain electromagnetic survey. This survey will help to identify sediment formations with good permeability and porosity that may contain lithium brines. In addition, a gravity survey will be conducted over the same grid lines to identify the depths of the closed basin as well as structural features and young volcanic rocks that may contribute to the formation of the lithium brine. Historically these geophysical surveys have worked extremely well in identifying structural targets in preparation for drilling.
Coincident with the geophysical programs, an additional 500 geochemical samples will be taken to further delineate anomalous lithium.
The second phase also includes, a four thousand meter (13,000 feet) drill program to test several of the high priority targets that have coincidental anomalies that may contain brine and traps created by active faults.
A third phase program will include a pump test work program done on sections of the drill holes to test and determine the aquifer capacity; draw down flow rates, and concentrations of Lithium and potassium.
As previously reported on March 10, 2017 the Company is acquiring up to a 90% interest in the Rico Litio Property. The property covers a large closed basin (or salar) that is 291 square miles or 75,410 hectares. The Company who is the operator, will contract the exploration program to Jehcorp Inc., a private company owned by John Hiner who has over 45 years’ mineral exploration experience, including lithium and potassium properties in North and South America. A group led by John Hiner also identified the Rico Litio Property.
Doug Fulcher, President and CEO of One World commented:
“We are very pleased to be moving quickly on to the next phase of work on the Rico Litio Lithium Property after such a successful first phase work program. As well we are very fortunate to have a professional such as John Hiner coordinating and overseeing the future development of this project. His experience and knowledge of lithium and lithium projects in the Americas is so important as we further explore and advance the Rico Litio Property. The Company’s significant second phase exploration program that will be underway before the end of March 2017 and continue over the next three months will be highlighted by the drilling of several of the targets before the end of June 2017.”
ABOUT ONE WORLD MINERALS INC.
One World Minerals Inc. announced on March 10, 2017 that it had entered into a binding letter agreement to acquire up to a 90% interest in the Rico Litio Property in Mexico (the “Property”).
The Property covers 291 square miles or 75,410 hectares over a closed basin where surface and auger samples were taken over a distance of 74 miles (120 Kilometers). The sampling work program was conducted by Lithium Investments Ltd. and returned assay results between 53 to 188 parts per million lithium in the northern part of the Property. In the southern part of the Property, samples ranged from 15 and 82 parts per million lithium, with an average value of 74 ppm lithium from 24 samples across 74 miles. It is important to note the samples were taken from surface salts and shallow auger holes and not from brines that may occur at depth.
The basin also has geological attributes to develop lithium brines, including recent tectonic and volcanic activity; many hot springs; young rhyolitic volcanic lavas; high heat flows within the region; and ash flow tuffs surrounding and within the basin.
The Property is located in the state Baja California Norte, Mexico. Ready access to the Property includes paved roads and dirt roads within the basin. There is paved access to the USA, which is 100 miles to the north. The Property is only 21 miles (35 kilometers) from San Felipe which is a well-established service center that can provide housing and mine personnel. Power is available from major power lines that cross the Property near the north end, as well as interconnected power lines from the US via Mexicali to San Felipe.
Lithium and Potassium Results of Initial Sampling Program
|203||1029153||0.66||0.44||24.1||rhyolitic tuff- mark 203|
|204||1029154||1.07||0.81||35.2||auger hole 1- 18 inch deep sample- mark 203|
|205||1029155||1.51||0.81||28.4||auger hole 2 – 22 inch deep sample- mark 203|
|206||1029156||2.58||1.37||82.0||auger hole 3- 24 inch deep sample- valley floor is rhyolitic tuff – mark 206|
|207||1029157||3.52||0.81||35.1||auger hole 4 – 24 inch deep sample- mark 207|
|207||1029158||4.84||0.7||31.1||auger hole 4 5 foot deep sample mark 207|
|210||1029160||1.77||0.08||5.0||spherulitic rhyolite rock chip – mark 210|
|211||1029161||2.03||0.32||15.2||fine grained lithic tuff- unconfrormable over spher rhy -mark 210|
|212||1029162||2.59||0.07||4.7||crs grained qtz eye lithic tuff – mark 213|
|213||1029163||1.61||0.42||19.4||fine grained qtz-mica shell bearing tuff- mark 213|
|214||1029164||1.69||1||53.3||auger hole 5 – 24 inch deep salar sed vfg soil – mark 214|
|215||1029165||2.14||1.31||66.8||auger hole 6- clayey salar sed-trc mca salt veneer on srfc- mark 215|
|216||1029166||1.62||0.66||69.2||auger hole 7- vfg clayey brn soil, interstitial salt in mtx – mark 216|
|217||1029167||2.27||0.52||33.9||auger hole 8- 24 inch deep, m-dk bn vfg slty-clayey w mca +salt-mark 217|
|218||1029168||2.10||1.58||132.5||auger hole 9 – m bn clay w vfg salt, tr moisture- mark 218|
|219||1029169||2.71||1.57||103.5||auger hole 10- hard caliche at 18inch depth, m bn fg sdy silt- mark 219|
|220||1029170||2.01||1.41||91.2||auger hole 11- dk bn cly slt w abun salt – mark 220|
|220||1029171||0.75||1||66.3||hand pick of salt concentrated at surface- mark 220|
|221||1029172||2.36||1.4||92.0||auger hole 12- vfg sdy silt w caliche layers – mark 221|
|222||1029173||2.14||1.45||95.8||auger hole 13- m bn slty qz-fld sltst – mark 222|
|223||1029174||1.61||1.43||90.9||auger hole 14- vfg qz-fld mica clay- mark 223|
|224||1029175||2.43||1.97||188.5||auger hole 15- hard salt srfc, 2 12 inch holes, mica clay- mark 224|
|225||1029176||2.04||1.41||159.5||auger hole 16- slty cly com salt in mtx- mark 225|
|225||1029177||0.78||0.92||84.3||hand pick of salt concentrate at srfc- mark 225|
|226||1029178||3.33||0.4||50.8||auger hole 17- tan fg slty ss +/-mca, com thn cly layers- mark 226|
|227||1029179||0.53||0.52||30.8||thn bedded slty vfg lakebed- mark 227|
|228||1029180||0.98||0.27||21.8||cross bd qz-fld bio vfg ss- mark 228
Andrea Diakow, P. Geo., a Qualified Person as defined in NI 43-101, and a consultant of OWM, has read and approved the scientific and technical disclosure as stated in this news release.
On behalf of the Board of Directors of One World Minerals Inc.
Douglas Fulcher, CEO and President
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation concerning the business of the OWM. Forward looking information is based on certain key expectations and assumptions made by the management of the OWM regarding the proposed exploration program. Although OWM 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 OWM 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. OWM 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 direr materially from the company’s expectations include: (I) potential comments from regulators which may delay; (II) inability of OWM to execute its business plan and raise the financing required to implement the exploration program; and (III) risks and market fluctuations common to the mining industry and lithium sector in particular. 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 OWM. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.