One World Lithium Announces DDH-4 Has Started at Its Salar del Diablo Lithium-Brine Project
VANCOUVER, BC - TheNewswire – September 23, 2021 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (CNSX:OWLI.CN) (the “Company”) (“OWL”) announces that DDH-4 (diamond drill hole) is drilling at a location 16 kilometers north of DDH-3 or 34 kilometers south of DDH-2. DDH-4 is currently drilling the upper part of the borehole and preparing to drill to a depth of up to 600 meters in anticipation of encountering a suspected deep brine system. DDH-3 was abandoned at 230 meters due to difficulty accessing the hole location.
DDH-4’s location is recommended by OWL’s Operator, Montgomery & Associates. DDH-4 has a planned total depth of 600 meters. The Operator noted “The bore hole may intersect historic and current hydrothermal activity that are evident and is often a source of lithium, such as in the Lithium Triangle in Argentina and Chile”. DDH-4 may intersect hydrothermal activity at less than 600 meters. If DDH-4 is successful OWL may elect to drill additional holes in the southern concessions.
DDH-4 is the fourth exploration borehole of a four borehole program designed to explore the Salar del Diablo lithium-brine project that covers 103,450 hectares located in the State of Baja California, Mexico. OWL currently owns a 60% property interest and on completion of the program, it will have earned an additional 20% property interest and has an option to purchase a further 10% for a total of a 90% property interest.
Lithium Industry Trend.
As reported by Fastmarkets on September 12, 2021, the spot price of lithium carbonate has risen 23% from the previous month average, going from $ 14,630 USD to $ 19,000 USD per metric ton1. This has also been reflected in the share prices of both junior exploration and major producers alike.
Update on Critical Fluid Separation Technology.
The Company has delayed the proof of concept testing program in order to review other patented processes in the same field of use with the intention to enter into a joint venture arrangement.
Mike Rosko, 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
For further information please visit www.oneworldlithium.com or email email@example.com or call 1-604-564-2017 Extension-3.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. 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 or with the Separation Technology. 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 (II) accuracy of mineral or resource exploration activity (III) continued access to mineral property (IV) risks and market fluctuations common to the mining industry and lithium sector in particular and (V) advancements in new separation technologies. 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.
1.Figures taken from Lithium price spotlight – Weekly price updates -Fastmarkets (September 12, 2021) https:/www.fastmarkets.com/commodities/industrial-minerals/lithium-price-spotlight?utm_source=spotlight-alert&utm_medium=email-rketing&utm_campaign=lithium&mkt_tok=Mzc2LUtWVi0xNzcAAAF_fH_rb4X94xcmCmKtuDWs93-1T1cNnPgmFRDpGppMpTasbdFh_zkmIHVMb5QuyjSCxj_Gqjsf9_WVavAscV7Qr0eeEH4iTFICm4DNuUXeXw