March 28, 2017 – OWM, VANCOUVER, BC – One World Minerals Inc. (OWM-CSE) (the “Company”) is pleased to announce the start of a second phase exploration program on the Company’s Rico Litio lithium property located in the State of California Baja Norte, Mexico. Logistical preparations are underway with field crews on the property within three weeks and concluding with a 4000 metre (13,000 foot) drill program to be completed by the end of June 2017.
The second phase program will consist of 80 kilometres (50 miles) of surveyed grid lines in the northern portion of the property in preparation to complete a time domain electromagnetic survey. This survey will help to identify sediment formations with good permeability and porosity that may contain lithium brines. In addition, a gravity survey will be conducted over the same grid lines to identify the depths of the closed basin as well as structural features and young volcanic rocks that may contribute to the formation of the lithium brine. Historically these geophysical surveys have worked extremely well in identifying structural targets in preparation for drilling.
Coincident with the geophysical programs, an additional 500 geochemical samples will be taken to further delineate anomalous lithium.
The second phase also includes, a four thousand meter (13,000 feet) drill program to test several of the high priority targets that have coincidental anomalies that may contain brine and traps created by active faults.
A third phase program will include a pump test work program done on sections of the drill holes to test and determine the aquifer capacity; draw down flow rates, and concentrations of Lithium and potassium.
As previously reported on March 10, 2017 the Company is acquiring up to a 90% interest in the Rico Litio Property. The property covers a large closed basin (or salar) that is 291 square miles or 75,410 hectares. The Company who is the operator, will contract the exploration program to Jehcorp Inc., a private company owned by John Hiner who has over 45 years’ mineral exploration experience, including lithium and potassium properties in North and South America. A group led by John Hiner also identified the Rico Litio Property.
Doug Fulcher, President and CEO of One World commented:
“We are very pleased to be moving quickly on to the next phase of work on the Rico Litio Lithium Property after such a successful first phase work program. As well we are very fortunate to have a professional such as John Hiner coordinating and overseeing the future development of this project. His experience and knowledge of lithium and lithium projects in the Americas is so important as we further explore and advance the Rico Litio Property. The Company’s significant second phase exploration program that will be underway before the end of March 2017 and continue over the next three months will be highlighted by the drilling of several of the targets before the end of June 2017.”
ABOUT ONE WORLD MINERALS INC.
One World Minerals Inc. announced on March 10, 2017 that it had entered into a binding letter agreement to acquire up to a 90% interest in the Rico Litio Property in Mexico (the “Property”).
The Property covers 291 square miles or 75,410 hectares over a closed basin where surface and auger samples were taken over a distance of 74 miles (120 Kilometers). The sampling work program was conducted by Lithium Investments Ltd. and returned assay results between 53 to 188 parts per million lithium in the northern part of the Property. In the southern part of the Property, samples ranged from 15 and 82 parts per million lithium, with an average value of 74 ppm lithium from 24 samples across 74 miles. It is important to note the samples were taken from surface salts and shallow auger holes and not from brines that may occur at depth.
The basin also has geological attributes to develop lithium brines, including recent tectonic and volcanic activity; many hot springs; young rhyolitic volcanic lavas; high heat flows within the region; and ash flow tuffs surrounding and within the basin.
The Property is located in the state Baja California Norte, Mexico. Ready access to the Property includes paved roads and dirt roads within the basin. There is paved access to the USA, which is 100 miles to the north. The Property is only 21 miles (35 kilometers) from San Felipe which is a well-established service center that can provide housing and mine personnel. Power is available from major power lines that cross the Property near the north end, as well as interconnected power lines from the US via Mexicali to San Felipe.