01:16:21 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



One World Lithium Inc
Symbol OWLI
Shares Issued 83,236,548
Close 2019-04-30 C$ 0.185
Market Cap C$ 15,398,761
Recent Sedar Documents

One World receives drilling permit for Salar del Diablo

2019-04-30 10:54 ET - News Release

Mr. Douglas Fulcher reports

ONE WORLD LITHIUM ANNOUNCES 4,250 METER DRILL PROGRAM START

One World Lithium Inc. has received a drilling permit required to start its 12-hole, 4,250-metre drilling program at its Salar del Diablo property located in the state of Baja California Norte, Mexico. The property is one of the largest known salars to be drilled in 2019.

The predrilling programs, as previously announced on Aug. 8, 2018, identified geochemical surface samples that are anomalous over 150 square kilometres; three highly conductive geophysical zones of which two zones may be more than 300 and 600 feet thick. All three zones are more than 54 square kilometres with two zones being open ended; in addition, geological analysis confirms many active faults and linears as well as cross-structures throughout the basin. These features suggest that structural conditions may exist to concentrate brines.

The company intends to drill 12 holes to test all three geophysical zones, the geochemical lithium anomaly and certain geologic structures that may trap and concentrate brines. The Salar del Diablo property has never been drilled in the past and it is estimated to take between 25 and 50 days to complete.

The company has granted incentive stock options to a consultant of the company to purchase up to 15,000 common shares of the company at a price of 20 cents per common share. The stock options are exercisable on or before April 30, 2021, and are fully vested.

John E. Hiner, Society for Mining, Metallurgy and Exploration 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 is an exploration company focused on lithium in brine projects. It currently has earned a 60-per-cent property interest with an option to acquire a further 30-per-cent property interest for a total of a 90-per-cent working interest in the 75,400-hectare Salar del Diablo lithium brine project located in the state of California Baja Norte, Mexico.

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