One World Lithium Announces 4,250 Meter Drill Program Start
VANCOUVER, BC / TheNewswire / April 30, 2019 - One World Lithium Inc. (OTCQB -OWRDF) (CSE-OWLI) ("OWL") (the "Company"). The Company has received a drilling permit required to start it's 12 hole, 4,250 meter (14,000 feet) 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 pre drilling programs as previously announced on August 08, 2018 identified geochemical surface samples that are anomalous over 150 square kilometeres; 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 kilometers 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 is it is estimated to take between 25 and 50 days to complete.
The Company also announces that is 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 $0.20 per common share. The stock options are exercisable on or before April 30, 2021 and are fully vested.
About One World Lithium
One World Lithium Inc is an exploration company focused on lithium in brine projects. It currently has earned a 60% property interest with an option to acquire a further 30% property interest for a total of a 90% working interest in the 75,400 hectare (290 square mile) Salar del Diablo lithium brine project located in the State of California Baja Norte, Mexico.
John E Hiner, 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.
On behalf of the Board of Directors of One World Lithium Inc.,
President and Chief Executive Officer
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation concerning the business of the OWL. 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. 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 and (II) 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 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.