Featured Company /
Opawica Explorations Inc.
The leaked deal that eventually became public on September 28th that Kirkland Lake Gold (TSX:KL) (NYSE:KL) (TSX:AEM) (NYSE:AEM) (TSX:ABX) (NYSE:GOLD)
Mining investors can take heart that Canadian M&A activity isn’t going away; it will most likely start to feature smaller deals that indeed involve some premium pricing. These deals will be mid-size companies looking to bolster their portfolio by acquiring single properties or small-scale mining operations.
Odds are that potential suitors aren’t going to step too far outside the box when it comes to risk. They’ll stick with areas known for prolific gold with abundant infrastructure, like the famed Abitibi Greenstone Belt in Western Quebec/Eastern Ontario. The discovery of the Cadillac-Larder Lake Fault Zone in the early 1900’s kicked off a gold rush that continues today, having produced some 190 million ounces of gold in the last century or so. That’s $351.5 billion worth of gold at today’s price.
It is that type of opportunity (that and the fact that his wife is from Canada) that attracted young mining vet, Blake Morgan to leave his mining roots in Australia to now serve as CEO of Opawica Explorations Inc. (TSX-Venture:OPW) (OTCQB:OPWEF)
And Opawica is in the thick of it.
The 1,317-hectare Bazooka property is characterized by coarse visible gold while being contiguous to the southwestern border of Yamana Gold’s (TSX:YRI) (NYSE:AUY)
The eponymous gold project of Granada Gold Mine (TSX-Venture:GGM) (OTCPK:GBBFF)
Bookending these properties is an enviable position for a young explorer like Opawica, particularly with consideration to the location within a highly prolific gold belt that has turned out millions of ounces of the precious yellow metal.
It’s worth noting that past mining at Yorbeau’s property extended a shaft to 515 meters below surface. Yorbeau’s property is currently being evaluated for the potential of open-pit mining. An early-stage project for Opawica, visible gold has been reported at McWatters, while drill results have returned 1.02 g/t gold of 0.91 meters and 7.79 g/t gold over 3 meters.
Drilling at Bazooka during 2003-2005 discovered up to 316.23 grams per tonne gold (g/t Au) over 1.0 meter. The project is ripe for exploration work. Historically, 634 meters of drifts were developed at 114 meters in depth followed by 957 meters of underground. Average back panel samples were consistently strong, including 0.31 ounces gold of 15.0 feet and 0.55 ounces over 3.5 feet by 69 feet long.
The opportunity was further substantiated by drilling in 2017 that was comprised of 125 drill holes totaling 29,595 meters of drilling. Assays confirmed a wide gold zone extending west to east below 275 meters in depth with grades up to 889.97 g/t gold (across 0.35 meters).
The go-forward plan includes three steps: 1) Review prior drill cores by Lake Shore Gold and RT Minerals; 2) Drill 5,000 meters to obtain additional results in the central part of the high-grade gold zone associated with the four mineralized gold zones outlined by the 1951-52 underground workings; and 3) Complete a resource estimate, a major milestone for any explorer.
To advance the projects, Opawica has developed a close partnership with GoldSpot Discovery Corp. (TSX-Venture:SPOT)
“The work done by GoldSpot and our Opawica team has exceeded expectations,” said Blake Morgan, Opawica CEO in a press release on the collaboration. He went on to say, “It has revealed a large collection of High Priority targets and we plan to drill all of them!”
GoldSpot has expertise in the Abitibi, expertise that speaks volumes to the fact that GoldSpot is not just serving in a contractor capacity to Opawica, but rather as a true Opawica partner. As part of its payment, GoldSpot has agreed to take options to acquire net smelter return (NSR) in all nine Opawica properties spanning Quebec and Newfoundland. To acquire half a percent NSR at each, GoldSpot will pay an aggregate of $9.0 million.
Opawica’s 400-hectare Arrowhead property is completely surrounded by property of Agnico Eagle, a major Abitibi producer with 875,000+ ounces of gold produced in 2019. Agnico’s Mouska mine is eight kilometers to the east of Arrowhead. To that point, Opawica can build optimism based upon results from Agnico drilling to better understand mineralized trends.
Previous drilling at Arrowhead dating back to the 1920’s intercepted 40 gold-copper mineralized zones with fine visible gold starting at surface. A chip sample assayed 90.45 g/t gold across 1 meter. Geochemistry survey conducted in 2015 shows favorable geochemical signatures and rock alteration on the property. Specifically, dozens of Rhyolite outcrops have been identified at the property. This is highly relevant to geologists, as these outcrops are associated with mineralization at depth.
The bottom line with Arrowhead is that historic exploration has identified two main veins (appropriately dubbed “A” and “B”) traced for over 450 meters that point towards strong gold mineralization. Now, modern exploration technologies are necessary to prove the historic work and verify mineralized veins.
And that’s exactly what Opawica is doing, once again engaging the services of GoldSpot to undertake a Multi-Parameter Airborne Survey System (M-PASS) over the Arrowhead property. M-PASS work is also being conducted by GoldSpot at Bazooka and McWatters.
Outside of Quebec, Opawica’s six projects in Newfoundland (Chapel Island, Eclipse, Density, Mass, Enterprise, Lil d'Espoir Lake) cover more than 217 square kilometers along and between the Red Indian Line and the Valentine Lake shear zone in the Rogerson structural corridor gold district. The largest known gold resource along this corridor occurs at Marathon Gold’s (TSX:MOZ)
In October, Opawica completed Gold Grains in Till Sampling and prospecting program on all its Newfoundland projects, collecting a total of 121 regional gold in grain till samples. The program was designed by Opawica to sample untested areas and augment the understanding of gold grain distribution in the region. Results are pending, giving Opawica investors yet another parcel of data to look forward to.
These types of plays unsurprisingly are referred to things like “neighborhood,” “piggyback,” or “coattail” plays because of the information that can be gleaned by surrounding properties. Obviously, risks seem mitigated when properties to the north, south, east or west (or any combination) are shown to host billions of dollars in gold. Couple the neighbors’ gold with historical and new data suggesting that gold trends run through the lesser explored property and, bang, investors are looking at a grass-roots opportunity like Opawica that is moving with a purpose to show its properties are rich in gold too.
Against the backdrop of an industry that could be setting up for a cycle of smaller deals rather than mega-mergers and there is reason for excitement to once again reinvigorate the junior mining markets.
About AllPennyStocks.com:
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As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Corporate Snapshot:
Opawica Explorations Inc.
Stock Symbol:
CA
Stock Exchange:
TSX-Venture
Sector:
Natural Resources
52 Week High:
$0.6500
52 Week Low:
$0.1700
Current Stock Quote / Chart / News: Click here
Information as of
December 07, 2021
The leaked deal that eventually became public on September 28th that Kirkland Lake Gold (TSX:KL) (NYSE:KL) (TSX:AEM) (NYSE:AEM) (TSX:ABX) (NYSE:GOLD)
Mining investors can take heart that Canadian M&A activity isn’t going away; it will most likely start to feature smaller deals that indeed involve some premium pricing. These deals will be mid-size companies looking to bolster their portfolio by acquiring single properties or small-scale mining operations.
Odds are that potential suitors aren’t going to step too far outside the box when it comes to risk. They’ll stick with areas known for prolific gold with abundant infrastructure, like the famed Abitibi Greenstone Belt in Western Quebec/Eastern Ontario. The discovery of the Cadillac-Larder Lake Fault Zone in the early 1900’s kicked off a gold rush that continues today, having produced some 190 million ounces of gold in the last century or so. That’s $351.5 billion worth of gold at today’s price.
It is that type of opportunity (that and the fact that his wife is from Canada) that attracted young mining vet, Blake Morgan to leave his mining roots in Australia to now serve as CEO of Opawica Explorations Inc. (TSX-Venture:OPW) (OTCQB:OPWEF)
And Opawica is in the thick of it.
The 1,317-hectare Bazooka property is characterized by coarse visible gold while being contiguous to the southwestern border of Yamana Gold’s (TSX:YRI) (NYSE:AUY)
The eponymous gold project of Granada Gold Mine (TSX-Venture:GGM) (OTCPK:GBBFF)
Bookending these properties is an enviable position for a young explorer like Opawica, particularly with consideration to the location within a highly prolific gold belt that has turned out millions of ounces of the precious yellow metal.
It’s worth noting that past mining at Yorbeau’s property extended a shaft to 515 meters below surface. Yorbeau’s property is currently being evaluated for the potential of open-pit mining. An early-stage project for Opawica, visible gold has been reported at McWatters, while drill results have returned 1.02 g/t gold of 0.91 meters and 7.79 g/t gold over 3 meters.
Drilling at Bazooka during 2003-2005 discovered up to 316.23 grams per tonne gold (g/t Au) over 1.0 meter. The project is ripe for exploration work. Historically, 634 meters of drifts were developed at 114 meters in depth followed by 957 meters of underground. Average back panel samples were consistently strong, including 0.31 ounces gold of 15.0 feet and 0.55 ounces over 3.5 feet by 69 feet long.
The opportunity was further substantiated by drilling in 2017 that was comprised of 125 drill holes totaling 29,595 meters of drilling. Assays confirmed a wide gold zone extending west to east below 275 meters in depth with grades up to 889.97 g/t gold (across 0.35 meters).
The go-forward plan includes three steps: 1) Review prior drill cores by Lake Shore Gold and RT Minerals; 2) Drill 5,000 meters to obtain additional results in the central part of the high-grade gold zone associated with the four mineralized gold zones outlined by the 1951-52 underground workings; and 3) Complete a resource estimate, a major milestone for any explorer.
To advance the projects, Opawica has developed a close partnership with GoldSpot Discovery Corp. (TSX-Venture:SPOT)
“The work done by GoldSpot and our Opawica team has exceeded expectations,” said Blake Morgan, Opawica CEO in a press release on the collaboration. He went on to say, “It has revealed a large collection of High Priority targets and we plan to drill all of them!”
GoldSpot has expertise in the Abitibi, expertise that speaks volumes to the fact that GoldSpot is not just serving in a contractor capacity to Opawica, but rather as a true Opawica partner. As part of its payment, GoldSpot has agreed to take options to acquire net smelter return (NSR) in all nine Opawica properties spanning Quebec and Newfoundland. To acquire half a percent NSR at each, GoldSpot will pay an aggregate of $9.0 million.
Opawica’s 400-hectare Arrowhead property is completely surrounded by property of Agnico Eagle, a major Abitibi producer with 875,000+ ounces of gold produced in 2019. Agnico’s Mouska mine is eight kilometers to the east of Arrowhead. To that point, Opawica can build optimism based upon results from Agnico drilling to better understand mineralized trends.
Previous drilling at Arrowhead dating back to the 1920’s intercepted 40 gold-copper mineralized zones with fine visible gold starting at surface. A chip sample assayed 90.45 g/t gold across 1 meter. Geochemistry survey conducted in 2015 shows favorable geochemical signatures and rock alteration on the property. Specifically, dozens of Rhyolite outcrops have been identified at the property. This is highly relevant to geologists, as these outcrops are associated with mineralization at depth.
The bottom line with Arrowhead is that historic exploration has identified two main veins (appropriately dubbed “A” and “B”) traced for over 450 meters that point towards strong gold mineralization. Now, modern exploration technologies are necessary to prove the historic work and verify mineralized veins.
And that’s exactly what Opawica is doing, once again engaging the services of GoldSpot to undertake a Multi-Parameter Airborne Survey System (M-PASS) over the Arrowhead property. M-PASS work is also being conducted by GoldSpot at Bazooka and McWatters.
Outside of Quebec, Opawica’s six projects in Newfoundland (Chapel Island, Eclipse, Density, Mass, Enterprise, Lil d'Espoir Lake) cover more than 217 square kilometers along and between the Red Indian Line and the Valentine Lake shear zone in the Rogerson structural corridor gold district. The largest known gold resource along this corridor occurs at Marathon Gold’s (TSX:MOZ)
In October, Opawica completed Gold Grains in Till Sampling and prospecting program on all its Newfoundland projects, collecting a total of 121 regional gold in grain till samples. The program was designed by Opawica to sample untested areas and augment the understanding of gold grain distribution in the region. Results are pending, giving Opawica investors yet another parcel of data to look forward to.
These types of plays unsurprisingly are referred to things like “neighborhood,” “piggyback,” or “coattail” plays because of the information that can be gleaned by surrounding properties. Obviously, risks seem mitigated when properties to the north, south, east or west (or any combination) are shown to host billions of dollars in gold. Couple the neighbors’ gold with historical and new data suggesting that gold trends run through the lesser explored property and, bang, investors are looking at a grass-roots opportunity like Opawica that is moving with a purpose to show its properties are rich in gold too.
Against the backdrop of an industry that could be setting up for a cycle of smaller deals rather than mega-mergers and there is reason for excitement to once again reinvigorate the junior mining markets.
About AllPennyStocks.com:
AllPennyStocks.com Media, Inc., founded in 1999, is one of North America’s largest and most comprehensive small-cap / penny stock financial portals. With Canadian and U.S. focused penny stock features and content, the site offers information for novice investors to expert traders. Outside of the countless free content available to visitors, AllPennyStocks.com Pro (premium service) caters to traders looking for that trading edge by offering monthly stock picks, daily penny stock to watch trade ideas, market commentary and more.
As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Opawica Explorations Inc. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Opawica Explorations Inc.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
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