Opawica Explorations Inc.
TSX : OPW

Opawica Explorations Inc.

September 05, 2007 17:14 ET

Opawica Explorations Inc.: Matachewan, Ontario, Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - Opawica Explorations Inc. ("Opawica" / the "Company") (TSX:OPW) announces that it has now drilled 20 holes on its Matachewan, Ontario gold property. The Matachewan property is subject to an option and joint venture agreement with Northgate Minerals Corporation ("Northgate") as announced by the Company on May 28, 2007 and June 13, 2007. A total of 25 holes are currently planned and an IP geophysical survey concentrating on the Opawica and Northgate common boundary area and areas around the Camking region to the north is now substantially complete.

Assay results have been received for a further eight holes in addition to the initial three holes announced by the Company on July 27, 2007. Results from the most recent eight holes returned values ranging between no significant gold to highly anomalous gold content. Anomalous gold values were associated with holes OPW- 6, 9, 13 and 15 which are target areas located at the Camking Zone on the northern portion of the Matachewan property. These holes were drilled to depths ranging from 150m to 432m. Hole OPW-11 drilled in the same area contained no significant gold values.

Holes OPW- 5, 7 and 8 were drilled on targets associated with the Walker Zone situated in the middle of the Matachewan property. Hole OPW-7 carried anomalous gold values and holes 5 and 8 contained no significant gold mineralization. These three holes were drilled to a depth of approximately 200m.

Results from a further nine holes are still pending and drilling is ongoing with at least a further five holes planned under the current program.

Fire assays for Opawica sampling at the Matachewan properties was carried out by Swastika Laboratories of Kirkland Lake, Ontario.

The Qualified Person for Opawica's Matachewan properties is Mr. Fred Sharpley, P.Geo., of Kirkland Lake, Ontario.

ATIKWA LAKE, ONTARIO, UPDATE

Assay results are pending on two holes drilled to the immediate east and west of the Open Pit copper-gold zone.

In addition, the Company has initiated a deep penetrating surface geophysical survey at the Open Pit Zone to explore for drill targets below 150m in depth.

The above results and all historical data derived from recent Opawica work, and work completed by previous operators, is being compiled by an independent geological and engineering firm in order to determine the amount of further drilling that is warranted and required in order to establish all or a portion of the current Inferred Mineral Resource, at Atikwa Lake, as 43-101 Measured and Indicated Resources. The Atikwa Lake property has an Inferred Mineral Resource of 3,000,000 tonnes of 1.18% Cu and 2.5 g/t Au. The Atikwa Lake property has not yet been sufficiently drilled by Opawica to have economic considerations applied to them to enable such resources to be categorized as reserves. Further drilling is required to upgrade the Resources to Measured and Indicated Resources and there can be no certainty that the preliminary or historic assessments will be realized. Accordingly the Company is not treating the Inferred Mineral Resource at Atikwa Lake as NI 43-101 Defined Resources.

The foregoing information may contain forward looking statements relating to the future performance of Opawica. 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.

Warrants: 10,212,500 @ $0.07

Shares Issued: 115,153,867

Stock Options: 9,150,000 @ $0.07

Restricted Shares: Nil

Contact Information

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