(TheNewswire)
March 13 th 2025 TheNewswire – Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the ‘Company’ or ‘Opawica’), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, is pursuing ambitious growth objectives. With its 2025 exploration campaign at the Bazooka Property (‘Bazooka’) already underway, Opawica is targeting 50-metre step-outs in areas where previous assays exceeded 10 gt Au . In doing so, the Company aims to establish Bazooka as the next up-and-coming gold hotspot in the Abitibi Gold Belt.
Although Opawica’s market capitalization is only about $8.5 million (as of March 8, 2025) on a fully diluted basis, last year’s Lac Gold (Rouyn) Inc.’s acquisition of Yorbeau Resources Inc.’s Rouyn property set the floor on valuation expectations in the immediate region. The deal was structured with a total purchase price of C$25 million. Additionally, Lac Gold granted Yorbeau a 2% net smelter returns royalty on any minerals produced from the property.
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As the maps below show, Bazooka borders Lac Gold’s Rouyn Property directly to the west (Opawica’s McWatters Property borders Rouyn to the east).
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The 2024 acquisition was driven by several strategic factors. Foremost, the Rouyn property boasts significant mineral resources with room for expansion. Furthermore, Quebec’s Abitibi Gold Belt reputation as a world class gold-producing jurisdiction played a key role in Lac Gold’s decision, offering stability, investor-friendly policies, and well-developed mining infrastructure.
With the Lac Gold Rouyn Property holding a total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces*. Bazooka has yet to establish the same historical pedigree as Rouyn at the time of its sale. However, historical drilling campaigns from 2003 to 2005, 2017 and more recently in 2021 to 2022 have revealed significant gold mineralization on the property, with notable intercepts, including:
77.18 g/t Au over 5.8 m
7.70 g/t Au over 20.5 m
25.77 g/t Au over 7.5 m
7.86 g/t Au over 17 m
Historical high-grade intercept of 316.23 g/t Au over 1 m
These historical results indicate Bazooka’s potential—especially with the property located on Cadillac-Larder Lake Fault Zone. This proximity holds immense significance due to its high gold potential, proven geological setting, existing infrastructure, and strong investor interest. This fault has historically hosted some of the richest gold mines in Canada, and any property in this region generally benefits from enhanced exploration success rates and commercial viability.
Along the fault zone, Bazooka covers approximately seven kilometers of this prolific geological structure, which is associated with numerous gold deposits. This mineralized zone is spatially associated with its boundaries, indicating a direct relationship between the property’s gold potential and its proximity to this major structural feature.
Short- and long-term goals
With the 2025 drill program underway, the short-term goal for Opawica is simple: to execute the first phase (5,000 m) of a planned 20,000 m drill targets campaign. The Company has already conducted airborne geophysics, downhole geophysics, induced polarization (IP) surveys, ground sampling, and a Phase 1 drill program to better understand the mineralization. The ultimate objective is to confirm and expand known mineralization and work towards an official resource estimate—just as Yorbeau Resources accomplished at Rouyn.
In the long run, Opawica believes that successful execution of its plan will unlock a significantly greater valuation. This sentiment is backed up by corporate actions. Since joining Opawica in 2020, CEO Blake Morgan has become the company’s largest shareholder, . This commitment exemplifies his confidence in the company’s trajectory and long-term prospects.
Fiscally, Opawica rests in a strong financial position to execute its plan after the Company raised $2.4 million between November and December 2024 bolstering its treasury for 2025. With gold prices exceeding US$2,900 per ounce and with interest in emerging gold projects is at an all-time high, the Company is positioned to drive strong shareholder value in 2025.
In the meantime, investors await the next round of assay results from Bazooka, expected to be reported in the spring of 2025. Positive results could suggest that Bazooka is poised to become the next major underexplored gold discovery in the Abitibi Gold Belt. To illustrate the significance, one needs to look no further than Lac Gold’s Rouyn property, located directly to the east.
Mr.Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s properties.
*Yorbeau Resources Inc. NI43-101 October 2011, on the Rouyn Property, Total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces (sedarplus)
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 236-878-4938
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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