Business
One World Lithium Announces that Two Drill Holes Located 14 Kilometres Apart Have Intersected Aquifers that May Contain Brine and Closing of its Private Placement
VANCOUVER, BC / TheNewswire / June 05, 2019 - One World Lithium Inc. ( OTCQB -OWRDF) ( CSE-OWLI) (the "Company") ("OWL") is pleased to announces it has complete
About this update from One World Lithium, Inc.
[{"type":"text","content":"VANCOUVER, BC / TheNewswire / June 05, 2019 - One World Lithium Inc. ( OTCQB -OWRDF) ( CSE-OWLI) (the \"Company\") (\"OWL\") is pleased to announces it has completed the first three drill holes of a 12 hole, 4,250 metre drill program on its Salar del Diablo Property (the \"Salar\") located in the State of Baja California, Mexico. Drill holes 2019 - 6, 9 & 11, all intersected aquifers with water samples having a pH (meaning not acidic) of approx. 8.6, which may indicate that there are brines. This will be confirmed on analysis of the water samples at the lab. The samples will also be assayed for lithium and other related minerals including potassium, boron, magnesium and cesium. Drill holes 2019 - 6, 9 & 11 have drilled through a dark brown mudstone layer near the Salar surface that is watertight and has formed a cap, which has trapped significant water filled aquifers to depth. There is substantial water in coarse quartz sands below the mudstone cap that contain high flow rate aquifers. Drilling to date demonstrates that there are multiple aquifers in the northern part of the Salar which indicates that the entire Salar could be very prospective. The distance between drill hole 2019-9 in the north and 2019-11 to the south is 14 kilometers apart. Starting with the 4th drill hole, an extra drill crew has been added allowing continuous drilling for 24 hours a day, which should help alleviate intermittent drilling problems experienced to date. Local ranchers have reported that several wells in the area contain brine, which (if the holes are open or can be located) will be sampled by the operator during the latter part of the program. The 12 hole drill program as previously announced is designed to intersect a geochemical anomaly that covers 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; and 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. Closing of Private Placement The Company is also pleased to announce that it has closed its third and final tranche of its non-brokered private placement (the \"Offering\") as previou...