Opawica Explorations Inc.
TSX VENTURE : OPW

Opawica Explorations Inc.

February 28, 2012 08:00 ET

Opawica Exporations Inc. Intercects Significant Gold Mineralization at Atikwa Lake Property, Rainy River Region, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) - Opawica Explorations Inc. (TSX VENTURE:OPW) (the "Company"/"Opawica") announces the following assay results from Opawica's 100% owned Atikwa Lake gold-copper-silver property located in the Rainy River region near 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
%
Ag
g/t
AuEQ
g/t
AT-11-08 Main Zone 218 362 144 0.17 0.136 0.76 0.42
X-fracture Including 236 259 23 0.23 0.225 1.00 0.64
Including 244 248 4 0.37 0.389 1.90 1.09
And 256 259 3 0.41 0.486 2.10 1.29
Also 328 336 8 0.51 0.345 2.28 1.16
433 458 25 0.35 0.292 1.98 0.90
Including 447 457 10 0.59 0.540 3.97 1.61
AT-11-09 Footwall Zone 387 578 191 0.78 0.075 0.38 0.92
Including 437 438 1 4.65 0.026 0.25 4.70
And 475 491 16 4.06 0.086 0.58 4.22
Including 476 477 1 49.10 0.010 0.80 49.14
Also 553 554 1 8.27 0.014 0.25 8.30
Also 567 578 11 2.50 0.009 0.25 2.52
Including 573 577 4 5.15 0.013 0.25 5.18
Including 573 574 1 11.30 0.010 0.25 11.32
AT-11-10 Main Zone 70 97 27 1.48 0.302 1.18 2.02
Including 72 88 16 2.30 0.415 1.49 3.05
Including 74 75 1 8.94 0.441 2.20 9.75
And 81 87 6 3.97 0.636 2.61 5.13
Including 81 82 1 7.80 0.723 6.30 9.20
And 86 87 1 13.95 0.174 2.30 14.30
Footwall Zone 196 197 1 3.17 0.195 0.60 3.52
232 240 8 1.49 0.059 0.25 1.60
Including 235 236 1 8.01 0.071 0.25 8.14
359 360 1 3.90 0.189 0.25 4.23
396 413 17 0.66 0.022 0.28 0.70
Including 411 412 1 4.81 0.137 0.70 5.06
Note: AuEQ (Au Equivalent) calculated using US $800 per oz for Au and $2.00 per lb for Cu and $20 per oz for Ag:AuEQ = Au+(Cux22.05x2.00/800x31.1035)+(Agx20/800)

The above intervals for the Main (Maybrun) zone are approximate true widths. Further drilling is required to establish the true widths for the intervals within the Footwall Zone.

Hole AT-11-08 was drilled at the south end of the Main Maybrun deposit on geophysically indicated cross fracturing.

The above drilling combined with all previous drilling has now established the width of the Footwall Andesites, that contain intermittent gold, copper and silver mineralization, to be at least 150m wide, at least 525m down dip and over 600m long (Andesitic Unit). Hole AT-11-10 is a 100m step out to the north of past drilling on the Maybrun Main zone and the Footwall zone. The Footwall Zone is open on strike and to depth. Further assaying will now be undertaken on hole AT-11-10. This assaying will include sections of core from this hole that are visually less prospective for gold, copper and silver mineralization.

All of the above drilling in the Main (Maybrun) Zone and the Footwall Zone is separate from previously reported mineral resources on the Atikwa Lake property.

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, 100% of the Carscallen-Whitesides property in the West Timmins gold district, Ontario, and owns 100% of the Bro Property which is a precious and base metal prospect located in Yukon, Canada. In addition, Opawica owns 5,317,352 shares (11%) of Upper Canada Gold Corporation (TSX VENTURE:UCC).

QUALITY CONTROL - DISCLAIMERS

The stated gold equivalent (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. Kevin O'Flaherty, 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