Opawica Explorations Inc.
TSX : OPW

Opawica Explorations Inc.

February 21, 2008 13:05 ET

Opawica Explorations Inc. ("Opawica"/ the "Company") Announces Atikwa Lake, Ontario Results and Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2008) - Opawica Explorations Inc. (TSX:OPW) -

ATIKWA LAKE, ONTARIO, Cu-Au

The Company has now completed 8 holes of a minimum 15 hole drill program at its Atikwa Lake property located 120 road kilometres southeast of Kenora, Ontario.

Hole AT-08-01 on section 1200N has intersected a gold and copper zone within an overall core length of 178m. The entire zone consists of 46.75m of basaltic pillow lava flows and 131.25m of massive fractured mafic flows containing varying amounts of chalcopyrite and pyrrhotite mineralization and a series of intermittent feldspar porphyry dykes within the overall 178m core length. The hole intersected the mineralized zone at low angles to core representing an approximate true width of about 30% of core lengths noted below. Further drilling is required to determine the true width, length and depth of the zone.



Assay results are as follows:

Assay Results Received For Opawica 2008 Drilling - Atikwa Lake Project

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From To Width Gold (g/t)
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Hole No. Section (m) (m) (m) Cut to 15 g/t Uncut Cu %
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AT-08-001 12 N 39 222 183 1.54 1.54 .389
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including 41.25 157 115.75 2.4 2.4 .511
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including 41.25 88 46.75 4.02 4.02 .866
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including 60 87 27 6.43 6.43 1.317
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including 65 74 9 10.24 10.24 2.396
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And 94.4 108 13.6 4.71 4.71 .737
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Hole AT-08-01 was drilled to the west on line 1200 N at a declination of 45 degrees. Mineralization of the principal intercept of 46m of 0.87% Cu and 4.08 g/t Au starts at a vertical depth of about 30m and dips at approximately 64 degrees west. The hole was targeted on, and has intersected, the main Maybrun Zone 200m on-strike to the Maybrun open pit zone establishing about 500m of strike length for the Maybrun copper-gold zone which historically has been reported as 200m long at the Maybrun open pit to the south and 500m long from the underground workings on the 45m level. The zone historically averaged from 30m to 70m in width on the 45m level. The depth of the zone is now believed to extend to at least 100m in depth from the historic 30m in depth reported from the Maybrun open pit zone and from the 84m in depth historically reported from underground exploration and development. The zone appears to be open primarily on strike to the north and primarily in width to the west. The zone is also open to depth. Hole AT-08-001 was drilled from east to west due to the inability to drill from west to east on account of topography. The hole bottomed in mineralization.

Hole AT-08-04 has intersected a 21m section of highly altered volcanics containing fine disseminated chalcopyrite and pyrite. The intersection is at low angles to core with a true width of approximately 30% of core length. This style of mineralization and geology, which is prospective for gold mineralization, has not been encountered before by Opawica on the Maybrun property. This hole was drilled on line 1000N just beyond the northern extent of the Maybrun open pit and beneath the open pit zone to a vertical depth of 280m.

Hole AT-08-05 has intersected a 17m section of 1-3% chalcopyrite and pyrite in a diorite unit not seen before by Opawica on the property. This hole was drilled to a depth of 347m.

In January, 2008, the Insight deep induced polarization program conducted on the Atikwa Lake property outlined a 500m long resistivity anomaly which is the signature for the Maybrun Deposit from section 700N to 1200N. This program also outlined a chargeability anomaly which represents flow-top-breccia in holes AT-08-002, AT-08-008, and AT-08-009 with disseminated pyrrhotite. In addition, a chargeability anomaly in holes AT-08-005 and 007 which represent disseminated chalcopyrite and pyrrhotite in a diorite was outlined. Furthermore, previously announced drilling in 2007 from hole OPW-06-31 on section 2000N encountered near surface gold intersections of 5.1 g/t Au over 4m, 7.33 g/t Au over 3m and 5.75 g/t Au over 5.75m. The induced polarization survey has outlined resistivity and chargeability anomalies in this area over a strike length of 500m that will be tested. This area is about 800m north of hole AT-08-001 noted in the above table.

In addition, Specific Gravity tests were taken on nine samples from the core of hole AT-08-001 which intersected sulphides of the Maybrun Deposit. Approximately 0.17m core sections from nine samples consisting of 0.5% to 65% sulphides and 1 to 15% quartz-carbonate provided an average Specific Gravity on the mineralization of 3.32 g/cc.

The historic Maybrun Inferred Mineral Resource including drilling completed by Opawica in 2005, 2006 and 2007 was previously reported at 3,000,000 tonnes of 1.18% Cu and 2.5 g/t Au. Current drilling and the Specific Gravity results strongly suggest that the overall resource of the Maybrun zone is materially larger than previously reported. The current drill program will focus on determining the true dimension and extent of the copper and gold mineralization at the Maybrun zone and on the surrounding geophysical targets.

Fire Assaying of the Atikwa Lake core samples was completed by Swastika Laboratories of Kirkland Lake, Ontario.

The Qualified Person for the Atikwa Lake property is Mr. Fred Sharpley , P.Geo., of Kirkland Lake, Ontario, and he has reviewed the contents of this release.

INVESTOR RELATIONS SERVICE CONTRACTS

Opawica is pleased to announce it has retained the services of AGORACOM for at least the next 6 months to provide Investor Relations services for current shareholders and further awareness about Opawica through established websites.

AGORACOM is a major online investor relations firm. They have partnered with the world's biggest internet companies including Globeinvestor, AOL, Google and Blackberry to market AGORACOM clients to small-cap investors. They have served over 200 companies since 1997.

In addition, Opawica has retained Progressive IR for the next 9 months to supply investor relations services for Opawica utilizing email, fax, mail and telephone support services for the Company.

Shares Issued: 14,495,918

Stock Options: 885,000 @$0.70 and $0.90

Restricted Shares: 1,000,000

Warrants: 744,531 @ $0.80 to $0.90 & 1 M @ $0.36

Contact Information

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