Opawica Explorations Inc. Expands Land Holdings at Bazooka Property, Adjacent to Yorbeau Resources Inc. - Kinross Gold Corp. LOI Option, near Rouyn-Noranda, Quebec

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[{"type":"text","content":"Opawica Explorations Inc. Expands Land Holdings at Bazooka Property, Adjacent to Yorbeau Resources Inc. - Kinross Gold Corp. LOI Option, near Rouyn-Noranda, QuebecVANCOUVER, BC / ACCESSWIRE / August 2, 2016 / Opawica Explorations Inc. (TSXV: OPW) (the \"Company\" / \"Opawica\") is pleased to announce that it has entered into an option agreement with Globex Mining Enterprises Inc. (TSX: GMX) (\"Globex\") to earn a 100% interest in 24 mineral claims located in Beauchastel Township, Quebec, collectively known as the Bazooka West Property (\"BWP\"). The initial consideration payable to Globex is $30,000 and the issuance of 500,000 common shares of the Company upon TSX Venture Exchange acceptance of the transaction, and an additional $30,000 and 500,000 common shares of the Company by January 31, 2017 or upon the issuance of a permit to drill, whichever occurs first. In addition, Globex shall retain a three percent (3%) Gross Metal Royalty upon all mineral production from the property, of which one percent (1%) may be purchased for one million dollars within the first five years of the option. The transaction is subject to regulatory acceptance.The acquisition extends Opawica's strike length to the west adjacent to the Company's 100% owned Bazooka Property (\"BP Property\") for a total of approximately seven kilometres on the prolific Cadillac Larder Lake Break (\"CLLB\"). The Company's BP Property is contiguous to the western boundary of Yorbeau Resources Inc.'s (\"Yorbeau\") Rouyn property situated nine kilometres southwest of Rouyn Noranda, Quebec. The gold mineralization on the Company's BP Property, where past drilling has intersected world class gold intercepts, appears to be the extension of the mineralized zones and gold resources known to exist on the western end on the Yorbeau Rouyn property. The Company is now preparing a prospective drill program that is designed to test the fold nose feature, or cross fault, of the CLLB situated on the eastern portion of the Company's BP Property. Some of the drilling is planned to be conducted perpendicular to the apparent north-south orientation of much of the quartz veining within this part of the CLLB that strikes east-west through the entire approximate seven kilometre width of Opawica's BWP and BP Property holdings. The initial Phase I program will be announced at a later date foll...

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