It was a few years ago when the genesis of One World Lithium (CSE:OWLI) took place. It was a tricky time for mining, and tough to raise money for anything. Or almost anything.
But lithium was flying, and the directors of what is now One World Lithium began to cast around for a likely project. Experienced exploration geologist John Hiner thought he might have just the thing.
Back when he was doing his masters degree Hiner undertook fieldwork mapping for the Mexican government in Baja California.
And ever since he carried round with him knowledge of a geological structure that had all the right conditions to potentially contain lithium in a brine, one that might just fit the One World Lithium bill.
One of the founders of One World Lithium, consultant Tim Brock, takes up the story.
“The Salar del Diablo property is one of the most amazing closed basins I’ve ever seen,” he says.
“The largest geochemical anomaly that we’re aware of covers 100 square kilometres, while the geophysical targets are extraordinary: they cover 54 kilometers and are open in both directions.”
And it’s not just the lateral extent.
“The thickest geophysical pay zones are between 300 and 600 feet thick,” says Brock. “But a lot of typical lithium brine projects in Argentina and the Clayton Valley typically run at around 30 feet. Our salar is 8,000 feet deep and may contain several stacked pay zones.”
One World Lithium staked the property, and is now getting down to serious work proving it up.
So far every single one of the 83 samples taken over 80 kilometers of the property has returned lithium. That’s highly unusual in brine exploration, and a clear indication that One World lithium could be sitting on something very big indeed.
The next big test will be the drilling campaign that’s planned to start in the next few months.
“This will be the largest brine property to be drilled in 2018,” says Brock.
“The plan is to drill 4,000 metres from 11 sites.”
The results could be game changing.
“If we intersect our payzones and if any of the concentrations run greater than 300 parts per million (ppm), then in a general sense the project may be potentially commercial. And if we get three or four holes of that nature it may also be seen as a discovery.”
If One World Lithium does hit and get the concentrations it wants, then follow-up is likely to be pretty swift.
There’ll be more drilling, says Brock.
The company is supported by some high net worth investors with deep pockets, and is just putting the finishing touches on a C$2mln raise. That will take it through the current campaign and the thinking is that if the results are good, the share value will increase and further financing will be forthcoming.
“If it works the rewards should be a ten-bagger-plus,” says Brock.