(TheNewswire)
VANCOUVER, BC - TheNewswire – March 16, 2021 - One World Lithium Inc. (CSE:OWLI) (OTCQB:OWRDF) (CNSX:OWLI.CN) (the “Company”) (“OWL”) The Company is pleased to announce with the oversubscribed financing completed, the Phase three drilling program will resume on April 15, 2021 at its Salar del Diablo Property located in the State of Baja California, Mexico. Crews will mobilize to DDH-3 drill location at the beginning of April and will start drilling on or before April 15. If the results of DDH-3 warrant, the DDH-4 will be drilled in the same area. Montgomery & Associates will continue to be the Operator for the remainder of the phase three program.
As previously reported, DDH-3 (diamond drill hole) is located approximately 50 kilometers to the south of DDH-2. Mike Rosko of Montgomery & Associates had previously suggested exploration in the southern end of the Property where there is evidence of historic and currently active hydrothermal activity in the south and that hydrothermal activity can be a source of lithium such as in the Lithium Triangle in Chile and Argentina.
The prospective area of possible hydrothermal activity may cover up to 20,000 hectares. In keeping with this, the operator chose the location to drill DDH-3 where an all weather road provides excellent access to DDH-3 location.
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Layne Drilling from Hermosillo, Mexico has been engaged again to carry out this phase of drilling. The same skidder mounted drill rig that drilled DDH-1 and -2 will be used for drilling this phase. On DDH-1 it reached a total depth of 650 meters.
On completing Phase three, OWL will have earned an additional 20 percent property working interest from Energy Metals Discovery 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 Companies to start and carry out their exploration programs. Now that we are funded, our Company can complete Phase three drilling without operational concerns or further financing.”
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 company focused on lithium in brine projects and new lithium separation technologies. OWL has the right to own 100% of the separation technology, subject to a positive proof of concept program. OWL has earned a 60% property interest in the Salar del Diablo property. On completing the Phase three 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.
“Douglas Fulcher”
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: 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.
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