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One World Lithium receives drill permit for Salar del Diablo project in Mexico

The company announced the start of a 12-hole, 4,250-meter drilling program at the Salar del Diablo property

Lithium brine project
The 75,400-hectare Salar del Diablo lithium brine project is located in the State of California Baja Norte, Mexico

One World Lithium Inc (CSE:OWLI) (OTCMKTS:OWRDF) announced Tuesday that it has received a drilling permit allowing it to start a 12-hole, 4,250 meter program at its Salar del Diablo property in in the State of Baja California Norte, Mexico. 

The Salar del Diablo is one of the largest known salars, or salt flats, to be drilled in 2019. 

The program will test three geophysical zones covering more than 54 square kilometers, a large geochemical anomaly that covers 150 square kilometers, and geological structures that may trap and concentrate brines.

READ: One World Lithium closes second financing round for drill program at Mexican lithium project

The exploration company, which is focused on lithium in brine projects, currently has a 60% property interest with an option to acquire a further 30% property interest for a total of a 90% working interest in the 75,400-hectare Salar del Diablo lithium brine project, which is located in the State of California Baja Norte, Mexico.

The company said two zones are open-ended and in addition to this, geological analysis confirms many active faults and linears as well as cross structures throughout the basin. These features suggest that structural conditions may exist to concentrate brines, according to the firm. 

The Salar del Diablo property has never been drilled in the past and is it is estimated to take between 25 and 50 days to complete.

Shares of One World Lithium were up 2.8% at C$0.18. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Price: 0.065 CAD

Market Cap: $9.71 m

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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