Opawica has entered into a letter of intent with Pulmari Corp.TORONTO--(BUSINESS WIRE)--March 8, 1996--Opawica Explorations Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :OPW OPW Orthogonalized Plane Wave OPW Objective Personal Weapon OPW Ohio Pattern Works OPW Oldest Packet Win (throughput scheme) OPW Organization Plus for Windows OPW Office Profile Wizard ) (the "Company"/"Opawica") announces that it has entered into a letter of intent with Pulmari Corp. to acquire a 100 percent interest in the 106,000 hectare hectare (hĕk`târ, –tär), abbr. ha, unit of area in the metric system, equal to 10,000 sq m, or about 2.47 acres. Pulmari Mineral Reserve property, Argentina. The Pulmari property is located in Western Neuquen Province in South-central Argentina at an elevation of approximately 2,500 meters. The property has two reported historic gold prospects and some past placer gold production in the mineral reserve. Geochemical stream sediment sampling concluded between 1950 and 1995 yielded several gold-anomalous areas with values ranging up to 425 parts per billion (ppb ppb abbr. parts per billion ). Grab samples Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole recently taken from a quarts stockwork, by Opawica, yielded values of up to 8 grams per tonne (g/t) gold. Northwestern and Western Neuquen Province, is currently an active exploration region of Argentina, with more than five international companies active in the area including Gencor and Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. Inc. The Western part of Neuquen Province is dominated by low altitude mountain belts that are underlain un·der·lain v. Past participle of underlie. by Precambrian schists and quartzites intruded in·trude v. in·trud·ed, in·trud·ing, in·trudes v.tr. 1. To put or force in inappropriately, especially without invitation, fitness, or permission: by granitoids. The geologic package also contains Carboniferous tuffs, limestones and volcanics. A significant target identified to date is an unexplored belt of alteration 25 km long by 15 km wide which contains the above Pulmari gold-bearing stockwork zone. Upon conclusion of the final Exploration/Exploitation Agreement between Opawica and Pulmari Corp., and following regulatory approval, the Company plans a US $ 100,000 phase I exploration program consisting of prospecting, sampling and geological mapping. Opawica may earn a 100 percent interest in Pulmari by making aggregate cash payments of US$ 160,000 and total exploration expenditures of US$ 400,000 over the next five years. The Company has identified three further precious metal properties of merit in Argentina, including one former producer, and is presently negotiating with property vendors. Opawica is also preparing initial offers to, prospectively, acquire certain key properties under Argentina's Public Bid Processes. In Ghana, West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. , Opawica announces that rotary air blast drilling (RAB Rab (räb), Ital. Arbe, island (1991 pop. 9,205), 40 sq mi (104 sq km) off Croatia, in the Adriatic Sea. One of the Dalmatian islands, it is a popular seaside resort. Fishing and agriculture are the main occupations. ) will commence on Monday March 11, 1996 on the Company's 373 sq km Asankrangwa license. The targets being drilled occur within two 10 km long by up to 2.5 km wide gold geochemical anomalous zones which both host a number of native gold workings. The Asankrangwa property occurs along the Mansu-Nkwanta shear zone. This major structure is emerging as a prolific new gold-associated feature in Southwestern Ghana. The current phase of RAB drilling is designed to locate the source of the surface gold anomalies outlined within the above two 10 km by up to 2.5 km zones during 1995. Zones that yield 0.5 g/t gold (500 ppb), or higher, will be followed up by deeper phase II reverse circulation drilling targeted at the bedrock sources. The current, phase I, RAB program will consist of about 300 drill holes of 30 to 50 meters in length to aggregate up to 15,000 meters of drilling. The holes will be drilled at 50 meter intervals at 60 degree declinations, on ten east-west trending lines. The current RAB program is expected to be concluded in the next 6 to 8 weeks. CONTACT: Opawica Explorations Inc., Toronto D. M. R. (Dan) Clark, 416/597-1480, (fax) 416/597-1479 |
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