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As the world's focus on sustainable energy sources continues to grow, the demand for lithium has surged, primarily driven by its critical role in lithium-ion batteries used in electric vehicles and renewable energy storage systems. To meet this increasing demand, exploration for lithium resources has expanded to previously untapped areas, and one such area of great interest is
The first property acquired by
The second property, called ‘Wemindji’, is located near the village of the same name, immediately to the west of the MIA Lithium discovery (Q2 Metals). It consists of 1 claim block covering 2,590 hectares. The property is located north of the road leading to
The summer field program was delayed because of severe wildfires covering the entire region. Only in the fall could the properties be finally accessed by land. A prospecting and sampling program was completed on both properties in September. The prospecting program identified multiple pegmatites occurrences on both properties. The pegmatite intrusions range in thickness from a meter up to several meters. Their length is quite variable but could be hundreds of meters. In most cases, pegmatite extensions are hidden under overburden which makes it difficult to assess their true length.
Lithogeochemical sampling was carried out on both properties in order to identify lithium mineralization which is mostly in the form of spodumene (lithium silicate) in the region. All samples were sent to an accredited laboratory for analysis. Results are pending.
Coming up before year end is a field sampling program both on Noyell and Courville gold properties to collect more data for future drill programs. Although our Noyell is at a definition drilling stage, we intend to acquire better knowledge from some unexplored portions of the property. Those planned sampling programs for 2023 are fully financed.
A qualified person, Pierre O’Dowd P.Geo, has verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure as required by section 3.1 and 3.2 of NI43-101.
Forward-Looking Statements
This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Opus One, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the anticipated exploration program on the project, the results of such exploration program, the development of the project and what benefits Opus One will derive from the project, the expected demand for lithium. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Opus One’ control.
These risks, uncertainties and assumptions include, but are not limited to, those described under “Financial Instruments” and “Risk and Uncertainties in Opus One’ Annual Report for the fiscal year ended
Neither the
For more information, please contact:
Chief Executive Officer & Director
Tel.: (514) 591-3988
President, Chief Financial Officer & Director
Tel: (902) 402-0388
info@OpusOneGold.com
Visit Opus One’s website: www.OpusOneGold.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13e304b8-1b53-4bd6-bcef-e105e000a690
James Bay Lithium District Map
Opus One Lithium Projects Location
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