Business
One World Lithium Announces Drilling Progress Report
VANCOUVER, BC / TheNewswire / May 23, 2019 - One World Lithium Inc. (OTCQB-OWRDF) (CSE-OWLI) ("OWL") (the "Company") has updated its 12 hole-4,250 meter (14,000
About this update from One World Lithium, Inc.
[{"type":"text","content":"VANCOUVER, BC / TheNewswire / May 23, 2019 - One World Lithium Inc. (OTCQB-OWRDF) (CSE-OWLI) (\"OWL\") (the \"Company\") has updated its 12 hole-4,250 meter (14,000 foot) drilling program on its Salar del Diablo Property located in the State of Baja California Norte, Mexico. The drill rig has been mobilized to the site and drilling of the first hole started today, May 23, 2019. Photo of Drill Rig Being Mobilized from San Felipe on May 22, 2019 On April 30, 2019, the Company announced that the drilling program had started. However, there were unforeseen delays in reaching agreement on occupancy permits, which provides surface access rights that are required before drilling can start. The necessary occupancy permits have now been signed and drilling has started today. As previously announced on April 30, 2019, the geophysical, geochemical, and geological pre-drilling programs identified geochemical anomalies that cover 150 square kilometers; three highly conductive geophysical zones, of which two may be more than 100 and 200 meters thick. All three zones cover more than 54 square kilometers and geological analysis confirms the presence of many active faults and linears as well as cross structures throughout the basin, which suggests structural conditions may exist to concentrate brines. Doug Fulcher, the Company's CEO notes \"The Salar del Diablo is one of the larger salars to be drill tested for lithium in a brine in 2019. The drill program is designed to intersect the geochemical, geophysical and geological targets that are very compelling as the Property has never been drilled before. I would also like to thank the occupancy permit holders for working with us and providing services to assist the drill program as well as our shareholders who have been more than patient\". The Company also announces that it has granted incentive stock options to two consultants of the Company to purchase up to 400,000 common shares of the Company at a price of $0.19 per common share. Three hundred thousand (300,000) stock options have been granted to one consultant and one hundred thousand (100,000) have been granted to the other consultant. The stock options are exercisable on or before May 22, 2021 with 100,000 being fully vested, 100,000 vesting on August 22, 2019 and the balance vesting on October 22, 2019. About One World Lithium One World L...