· Flagship Salar del Diablo project one of the largest to be drilled in 2019
· Geological similarities to Salar de Atacama, which produces nearly 30% of the world’s lithium supply
· Huge exploration upside to 75,000 hectare property that has never been drilled
One World Lithium Inc (CSE:OWL) (OTCMKTS:OWRDF) is progressing what could be one of the world’s largest lithium brine properties to be drilled this year.
Located in Baja California, northwest Mexico, the Salar del Diablo project is an expansive salt flat, or salar, with significant exploration potential. OWL owns an undivided 60% property interest, with the right to acquire another 30% for a total of 90%.
The northern portion of Salar del Diablo has been extensively explored, leaving 80% of the over 75,000 hectare property with a huge amount of exploration upside.
Geophysical survey results to date have defined three major conductive zones that could indicate the presence of brine. The zones cover around 54 square kilometers. Other geological conditions on the property that typically point to the presence of brine include hot springs, a volcanic source rock containing lithium, fault structures, a closed basin and a regional volcanic heat source.
CEO Doug Fulcher has over 40 years of experience in mining and exploration. As the CEO of Abacus Mining and Exploration Corp, he spent several years advancing the Ajax deposit that was subsequently sold to mining major KGHM. Founder Tim Brock is currently a strategic advisor to the board of directors.
What the principal geologist says
Principal geologist John Hiner was part of several exploration teams credited with eight discoveries, five of which became mines that are still producing.
In an interview with Proactive, he said that similarities abound between Salar del Diablo and Salar de Atacama, the world’s largest lithium brine deposit which produces 27% of the world’s supply.
“The attributes for Salar de Atacama or some of the other major lithium projects in South America have the same characteristics to what we are looking at in Salar del Diablo. It’s a large basin that’s been in existence for quite some time, and it captures all of the waters that run off the large mountain range in Baja California.
“We know that water is there, and that the basin is closed. We know it’s in an area of high heat flow, and it has all of the elements to support a lithium exploration program.”
The salts in the northern part of the basin contained anomalous lithium, so they followed that up with some geophysical work to define a huge lithium anomaly coincident with potassium and boron, which is expected in a lithium brine project.
A geophysical program identified three main zones and the upcoming drill hole program is designed to test all three zones.
One World Lithium completed two pre-drilling programs at the Salar del Diablo and now owns an undivided 60% property working interest.
The third phase of drilling, which began in May 2019, consists of a 4,250 metre program to test all three geophysical zones, the geochemical lithium anomaly, and certain geologic structures that may trap and concentrate brines.
One World will earn an additional 20% working interest on the project, for a total of an 80% property working interest, after Phase 3 drilling is completed. It will also pay Energy Metals Discovery Group, the current vendor, US$150,000 and issue 400,000 common shares to the company.
Once a bankable feasibility report is completed, One World may decide to purchase an additional 10% property working interest based on the project’s stated value, for a total of 90% interest.
The Salar del Diablo Property has never been drilled in the past. It is estimated to be completed in 2Q 2019.
According to One World, future programs may include a gravity survey to establish the basin’s configuration and to confirm the basin's estimated 8,000 foot depth. The company may run electromagnetic surveys to close the open-ended conductive zones, and a second drilling program to evaluate the remaining 80% of the Salar del Diablo.
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