Business
Opawica Explorations Inc. announces further assay results from its 100% owned Atikwa Lake gold and copper property
Opawica Explorations Inc. announces further assay results from its 100% owned Atikwa Lake gold an...
About this update from Opawica Explorations Inc.
[{"type":"text","content":"\n\n\n\n May 12, 2010 (Canada NewsWire Group) -- Opawica Explorations Inc. (TSX.V: OPW / OTC: OPWEF / Frankfurt: OE5A)("Opawica" / the "Company") announces further positive assay results from its 100% owned Atikwa Lake gold and copper property located near Kenora, Ontario.\nHole AT-10-03, which is the third of four deep holes drilled under the current drill program, has intersected the following gold and copper mineralization within the Maybrun Footwall Zone about 400m (275m deeper vertically) down-dip from the 30m wide intercept of 0.74 g/t AuEq between 207 to 237m, and the separate 19m wide intercept in hole AT-10-02 which returned 2.0 g/t AuEq between 269 to 288m core length. The drill intercepts contained herein are approximately 90% of true width.\n\n\n >\n\n\nAssays are pending for hole AT-10-04 which is drilled approximately 300m on strike to the northwest from hole AT-10-03.\nThe current four (4) holes are substantially all drilled outside of the mineralized areas that contain the Company's NI 43-101 compliant resources at the Maybrun Main zones (August 31, 2009 SEDAR filed NI-43-101 report). As detailed in the August 31, 2009 report, these resources are outlined as primarily open pit resources from surface to a depth of 200m using a proposed 2 to 1 stripping ratio. All of the Maybrun Main Zone Indicated resources exist between surface and down to 130m in vertical depth.\n\n\n >\n\n\nIt is expected that the current drilling will increase the resources associated with the Footwall Zone beneath or on strike to the above noted resources. The above Maybrun zones are within a surface area of about 1400m long by about 100m wide. Other exploration targets exist on the ~5km by ~2km Atikwa Lake property.\n\nPRELIMINARY SCOPING STUDY, ATIKWA LAKE - MAYBRUN MINE\n\nThe Company has initiated a Preliminary Scoping Study presently limited to the historic Maybrun Mine footprint and infrastructure. The Maybrun Mine produced at a rate of up to 500 tpd between 1970 and 1973 and was placed on standby, care and maintenance in 1974. The study will attempt to complete preliminary economic considerations by including, replacing or refurbishing existing Maybrun Mine infrastructure and on site tailings ponds, while initially utilizing a smaller higher grade portion of the overall Maybrun Main Zone open pit Indicated resources...