Opawica Explorations Inc.
TSX VENTURE : OPW

Opawica Explorations Inc.

August 11, 2011 09:10 ET

Opawica Explorations Inc. Intersects Significant Gold and Copper Mineralization Within 309 Meters of Drill Core in New Footwall Zone Below Open Pit Resources, Rainy River Area, Atikwa Lake, Ont.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Opawica Explorations Inc. (TSX VENTURE:OPW)(the "Company" / "Opawica") announces that the Company has intersected significant gold and copper mineralization in the first two holes of the current drill program at its 100% owned Atikwa Lake property southeast of Kenora, Ontario.

Assay Results Received For Opawica 2011 Drilling — Atikwa Lake Property
Hole No. Zone From
(m
) To
(m
) Width
(m
) Au
g/t
Cu
%
AuEQ
g/t
AT-11-01 Footwall Zone 11.0 13.0 2.0 1.40 0.043 1.47
28.0 40.0 12.0 0.69 0.033 0.75
294.0 603.0 309.0 0.58 0.039 0.65
Including 294.0 295.0 1.0 11.35 0.033 11.41
And 320.0 325.0 5.0 0.65 0.196 0.99
Including 323.0 324.0 1.0 2.16 0.264 2.61
Also 394.0 447.0 53.0 2.36 0.049 2.44
Including 409.0 426.0 17.0 5.64 0.059 5.74
Including 423.0 426.0 3.0 17.49 0.088 17.64
Including 423.0 424.0 1.0 33.70 0.048 33.78
553.0 554.0 1.0 11.10 0.009 11.12
assays Pending 607.0 702.0
AT-11-02 Footwall Zone 204.0 208.0 4.0 0.40 0.225 0.79
327.0 343.0 16.0 1.52 0.432 2.26
Including 327.0 330.0 3.0 2.56 0.224 2.94
Including 339.0 343.0 4.0 2.60 0.738 3.87
assays Pending 0.0 102.0
AT-11-03 assays Pending
AuEQ (Au Equivalent) calculated using US $800 per oz for Au and $2.00 per lb for Cu: AuEQ

Further drilling is required to establish true widths of the above intercepts for holes AT-11-01 and AT-11-02. Final assaying for all of the above first three holes, as well as final QA/QC is pending and ongoing.

The first hole of the program (AT-11-01) was originally interpreted to be drilled obliquely down dip into the Footwall andesites to test for geology and mineralization at depth. The hole intersected 657m of the altered Footwall andesites with some sections containing significant gold and copper mineralization as outlined in the above table. From past and current drilling, the width of the Footwall Zone is estimated to be at least 150m wide and at least 500m long and represents a significant new discovery on the Atikwa Lake property. The above Footwall mineralization is separate from previously reported mineral resources in the open pit Maybrun Zones.

The trend and exploration approach at Atikwa Lake has historically been oriented and directed on a 1400m long gold and copper signature that generally strikes northwest to southeast, predominately consisting of basalt lava flows (Maybrun Zones). The new altered andesitic Footwall Zone discovery, and drilling completed 600m to the north in hole AT-11-03, now suggests several east-west orientations for at least 4 areas to be tested under the current exploration program.

The second hole of the program (AT-11-02) was drilled (north-south) perpendicular to the projected east-west trending strike of an IP anomaly within the Footwall Zone. The strike length of this mineralization and anomaly is not yet known but could extend across the better part of the Atikwa Lake property in this area for up to 800m. This may also be the case for the other three east-west trending exploration targets on the property as noted above.

The Footwall Zone, and higher grade components therein, are wide open to depth from about 120m deep vertically and onward. Parts of the Footwall Zone have been noted along a north south orientation for at least 500m. These Archean-Proterozoic type units can extend for several thousand meters in depth. In addition, the recently discovered Footwall gold and copper mineralization may be distal to the main mineralizing event, fault or structure, which has not yet been observed in drill core. Deeper drilling in the areas of AT-11-01 and AT-11-02, along with drilling on strike in an east-west orientation on the 4 new target areas is strongly recommended by the Qualified Persons on the project. A revised and expanded exploration drill program will be announced in the near future with drilling expected to continue by the end of August, 2011.

OPAWICA EXPLORATIONS INC.

Opawica is a Canadian mineral exploration company that has been operating as such for over 30 years. The Company owns 100% of the Atikwa Lake project near Kenora, Ontario, and may acquire up to 100% of the Carscallen-Whitesides property in the West Timmins gold district, Ontario, (subject to closing conditions, see March 25, 2011 Opawica press release) and owns 100% of the Bro Property which is a precious and base metal prospect located in Yukon, Canada.

Opawica owns 7,046,852 shares (19.6%) of Upper Canada Gold Corporation. UCC owns 100% of the Dingman gold-aggregate property, Ontario, consisting of an open pit Indicated resource of 11,600,000 tonnes at 0.97 g/t Au for 361,000 ozs Au. UCC also has an option to acquire up to a 100% interest in the Pine Tree-Josephine Property, California (see UCC press releases dated May 9 and June 6, 2011).

QUALITY CONTROL - DISCLAIMERS

The stated AuEQ herein are head grades and metallurgical recoveries and net smelter returns are assumed to be 100%. Assaying for the above drill core was completed by ALS (Minerals) Canada Ltd., of North Vancouver, B.C.

Mr. Robert Laakso, P.Eng., is the Independent Qualified Person who has prepared or supervised the preparation of the information that forms the basis for the scientific and technical disclosure in this news release.

The forgoing information may contain forward-looking statements relating to the future performance of the Company. Forward looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate regulatory authorities. We seek safe harbour.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Opawica Explorations Inc.
    Donald (Dan) M. Clark
    Chairman
    604-681-3170
    604-681-3552 (FAX)
    www.opawica.com