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One World Lithium poised for drill program at Mexico project after signing contract

The drill rig will be available by the end of February this year, the Vancouver-based company said in a statement

Businessmen sign contract
The company has signed a contract with Layne de Mexico

One World Lithium Inc (CSE:OWLI) is poised for a drill program at its Salar del Diablo property in the state of Baja California Norte in Mexico after it signed a contract with Layne de Mexico.

The latter is set to drill 4,200 meters, or 14,000 feet (ft), in 12 reverse circulation (RC) holes with depths varying between 150 (500 feet) and 500 meters (1,650 feet). The drill rig will be available by the end of February this year, the Vancouver-based company said in a statement.

READ: One World Lithium poised to earn more of Mexico lithium property via drilling

The firm currently owns a 60% interest in the Salar del Diablo, and by completing this drill program, it will then own an 80% stake. The work may take up to 40 days to complete.

The company currently has an option to earn and acquire up to a 90% working interest in the 75,400-hectare site.

Layne de Mexico is part of the division of Layne Christensen that specializes in mineral exploration drilling programs globally.

It is planned that the holes will test three geophysical highly conductive zones and two geochemical surface sampling anomalies.

The geophysical zones correlate with the lithium geochemistry anomalies and cover more than 54 square kilometers (sq km). Two of the zones are open-ended as they extend beyond the geophysical survey grid area, the company said.

Meanwhile, the geochemical anomaly is 150 sq km with surface samples assaying up to 196 parts per million (ppm) lithium with an average grade of 84 parts per million (ppm). 

Salar del Diablo is the firm's initial prospect and was acquired by staking claims covering 75,400 hectares (290 square miles).

Contact Giles at [email protected]

Quick facts: One World Lithium Inc.

Price: 0.05 CAD

CSE:OWLI
Market: CSE
Market Cap: $4.65 m
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Watch

One World Lithium prepares to drill at the Salar Del Diablo Project in Mexico.

One World Lithium (CSE:OWLI) Chief Geologist John Hiner sat down with Steve Darling from Proactive Investors Vancouver to talk about the drilling program about to begin at the Lithium Project in Mexico. Hiner talked about the excitement surrounding this area and how they decided on the holes...

on 03/05/2019

2 min read