Opawica Explorations Inc. (the “Company”)(TSX.V: OPW) was incorporated under the Business Corporations Act (Ontario) on September 17, 1975 and was continued into British Columbia by Certificate of Continuation issued under the Business Corporations Act (British Columbia) on September 29, 2006. The Company is listed as Tier 2 mining issuer on the TSX Venture Exchange under the symbol "OPW". The Company is a junior resource company engaged in the acquisition, exploration and evaluation of gold and base metal mineral properties in Canada. As at the date hereof, the Company owns, subject to certain royalties, a 100% interest or an option to acquire a 100% interest in each of the following mineral resource properties in Canada:
- Arrowhead Property - 100% owned gold property consisting of 19 mineral claims in a continuous claim block totalling 400.76 hectares, located in the Joannes Township approximately 30 km east of Rouyn Noranda, Quebec.
- Bazooka Property - 100% owned gold property consisting of 15 mineral claims in two non-continuous claim blocks totalling 312.4 hectares, located in the Beauchastel Township approximately 7 km southwest of Rouyn Noranda, Quebec.
- Bazooka West Property - option to acquire 100% interest in a gold property consisting of 24 mineral claims totalling 953.86 hectares located in the Beauchastel Township approximately 7 km southwest of Rouyn Noranda, Quebec.
- McWatters Property - 100% owned gold property consisting of 12 mineral claims totalling 404.17 hectares located near Rouyn Noranda, Quebec.
- TKL Teck Property - 100% owned four patented mineral claims located near Kirkland Lake in northeastern Ontario.
- Yukon Bro Property - 100% owned massive sulphide, silver, lead, zinc property with exploration potential for gold and copper, located 120 km southeast of Faro, Yukon Territory.
The Company is engaged in the search for potential joint venture partners, mineral property acquisitions and financings.
Exploration of the Bazooka and Bazooka West Properties on the Cadillac Larder Lake Break
The Company owns and/or has an option to acquire a 100% interest in property holdings for approximately seven km of strike length on the prolific Cadillac Larder Lake Break (“CLLB”). The Company’s 100% owned Bazooka property is contiguous to the western boundary of Yorbeau Resources Inc.’s ("Yorbeau") Rouyn property situated nine km southwest of Rouyn Noranda, Quebec. The gold mineralization on the Company’s Bazooka property, where past drilling has intersected world class gold intercepts, appears to be the extension of the mineralized zones and gold resources known to exist on the western end on the Yorbeau Rouyn property.
The Yorbeau property has been optioned by Kinross Gold Corporation ("Kinross"), whereby Kinross has the option to acquire a 100% interest in Yorbeau's Rouyn property for consideration that includes exploration expenditures of C$12 million; cash payments of USD $25,000,000, plus 2% of the prevailing gold price multiplied by the number of ounces of gold in measured, indicated and inferred resources identified in a resource estimate, to be completed; as well as an equity participation in Yorbeau (see Yorbeau press release dated October 25, 2016).
The Company is mobilizing a drill program that is designed to test the fold nose feature, or cross fault, of the CLLB situated on the eastern portion of the Company’s Bazooka property. Two holes of up to 500 metres each will be drilled perpendicular to the apparent north-south orientation of much of the quartz veining within this part of the CLLB. This drilling will commence by mid-November, 2016.
The Company also plans to drill up to a 1,500 metre hole that will test the stratigraphic horizon at this location on the Bazooka property to a vertical depth of approximately 1,000 metres.