One World Lithium Inc (CSE:OWLI) (OTCMKTS:OWRDF) updated investors on its current four hole drilling program for a planned 2,400 meters or 7,900 feet at the Salar del Diablo lithium brine project in the State of Baja California, Mexico.
The Vancouver-based company said that the drill hole DDH-1 reached its target depth of 650 meters.
A second hole located 11 kilometers to the southeast of the first one has reached 590 meters, on its way to a target depth of 650 meters. The company is expecting to drill a third hole by mid-December, it said in a release.
Salar del Diablo’s project operator Mike Rosko of Montgomery & Associates said: “There is evidence of historic and currently active hydrothermal activity nearly 50 kilometers south of the second drill hole and within 20 kilometers of the project’s southern border. This will be the location of its third hole and if results warrant will also be the location of the fourth hole. Hydrothermal activity can be a source of lithium, such as in the Lithium Triangle in Chile and Argentina.”
Water samples collected from Salar del Diablo will be shipped to the ALS Global laboratory in Vancouver, where they will be analyzed for lithium and other related elements like boron, cesium, calcium, potassium, magnesium and sodium.
Rock and sediment samples will be dried and prepped in ALS Global’s laboratory in Hermosillo, Mexico before being sent to Vancouver for further analysis, the company said in a statement.
As there is no readily available commercial geochemical standard for lithium, the operator and the company will rely on the substantial and verifiable liquid and solid standards developed by ALS Global for quality control and quality assurance. Repeat and check samples will also be analyzed.
The company also said that it granted an outside consultant of the company an option to purchase up to 400,000 shares of One World Lithium at C$0.13 per share. Options are exercisable before December 19, 2020 with 100,000 vesting on December 19, 2019 and the balance vesting at 100,000 each month starting January 21, 2020 and ending March 31, 2020.
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