Bazooka Property Induced Polarization Survey Completed

2022-11-08 / @thenewswire

(TheNewswire)

Vancouver, B.C. – TheNewswire - November 8th, 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the “Company” or “Opawica”) is pleased to announce it has completed a 3D induced Polarization Survey over the eastern site of the Bazooka Property in the Abitibi in Quebec.

The Company had Abitibi Geophysics undertake a DasVision 3D Induced Polarization (“IP”) over an area of 400x400m of the Bazooka property. The IP survey covered the main zone alteration where mineralization was up to 15m wide in quartz carbonate stock work. The objective of the IP survey was to identify the lateral and vertical extension of known hydrothermal and mineralization zones. The follow up program also consisted of downhole geophysics (to better define upcoming drill targets) in and around known current and historical gold mineralization in the vicinity of the Bazooka.

The survey was conducted with 40 Full-Waver dual dipole receivers distributed over an approximate 50 m x 75 m mesh. A dipole length of 25m was used and two blocks of 40 receivers were required to cover the area of interest. Current was injected within and around each mesh of the receivers, and in several of the 2022 diamond drill holes. Current was also injected in two long dipoles (about 2km in length), diagonally across each block of receivers. The depth of investigation is estimated to be about 300 metres.

Of the forty-eight drill targets identified to date, only eighteen have been tested. The forty-eight drill targets were developed in conjunction with Goldspot. Goldspot used integrated and reinterpreted data sets (geochemical, geophysical, geological). Drill targets that were drilled in 2022 were derived from an understanding gained from Goldspot based on their analysis. Structural interpretations and 3-D modelling were provided by Goldspot and led to the development of an updated geological model which includes but is not limited to fold events, numerous lithostratigraphic units, as well as faults.

Blake Morgan, President of Opawica stated, “The implementation of the new 3D IP will redefine our drill targets. The remaining thirty drill targets, developed by GoldSpot, have yet to be evaluated and could represent significant upside for our shareholders. The team at Opawica are thrilled to be narrowing in on our high priority drill targets, ready for a phase two drill program.

Opawica Explorations is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec, and in central Newfoundland and Labrador. The Company's management has a great record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders.

Opawica's Bazooka properties cover seven kilometres of the prolific Cadillac Larder Lake Break. The Bazooka properties are bound to the west by the Wassamac gold property, which is 100 per cent owned by Richmont Mines Inc.

Yvan Bussieres, P.Eng., OIQ #31985, has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.

FOR FURTHER INFORMATION CONTACT

Blake Morgan

President and Chief Executive Officer

Opawica Explorations Inc.

Telephone: 604-681-3170

Fax: 604-681-3552

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.