VANCOUVER, BC, February 01, 2018 – One World Lithium Inc. (CSE:OWLI) (the “Company”) announces the Geophysical and Geochemical sampling programs are underway with twelve personnel on the Salar Del Diablo Lithium Property in Mexico.
The Company has also received more than $600,000 of its $1,500,000 private placement offering of units at $0.15 with a two year warrant at $0.20. The private placement is subject to closing and regulatory approval.
Both the geophysical eight man crew and the geochemical sampling four man crew are working at the Salar del Diablo Property. A time domain electromagnetic survey has started to identify basin stratigraphy and locations of lithium in brine aquifers. At a later date there will also be a gravity survey. They also have started a 500 surface sample program using an auger to collect the samples 18 inches from the surface. The Company expects the program to be completed in 30 days with the drilling program to follow. The Company plans to drill several targets with a 4,000 meter (13,000 foot) reverse circulation drilling program. In 2018 a similar program will be evaluating the south half of the Property.
There are 72 kilometers of grid lines which cover 25,000 hectares (96 square miles) in the north half of the property. This grid has been located based on the geology, and anomalous surface samples grading between 88 and 188 parts per million lithium.
On behalf of the Board of Directors,
Douglas Fulcher, CEO and President.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward looking information is based on certain key expectations and assumptions made by the management of the Company regarding the proposed exploration program. Although the Company 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 the Company 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. The Company disclaims any intent or obligation to update publicly 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) potential comments from regulators which may delay; (ii) inability of the Company to execute its business plan and raise the financing required to implement the exploration program; and (iii) risks and market fluctuations common to the mining industry and lithium sector in particular. 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 Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.