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One World Lithium Inc.

One World Lithium kicks off drilling at Salar del Diablo property in Mexico

The drilling is part of a 12 hole-4,250 meter program in the State of Baja California Norte, Mexico

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One World Lithium has a 60% property interest in the Salar del Diablo project

One World Lithium Inc (CSE:OWLI) (OTCQB:OWRDF) announced Thursday the first hole has been started at its 12 hole-4,250 meter drilling program at the Salar del Diablo Property in Mexico.

The drilling on the property in the State of Baja California Norte, Mexico started Thursday after a few delays, noted the company in a statement.

One World Lithium in late April announced that the drilling program had started, but ran into some unforeseen delays in reaching an agreement on occupancy permits, which provides surface access rights required before drilling can start.

READ: One World Lithium receives drill permit for Salar del Diablo project in Mexico

The necessary occupancy permits have now been signed, the Vancouver, British Columbia-based company said.  

The Salar del Diablo is one of the largest known salars, or salt flats, to be drilled this year. The company’s program will test three geophysical zones covering more than 54 square kilometers, a large geochemical anomaly that covers 150 square kilometers, and geological structures that may trap and concentrate brines.

The Salar del Diablo property has never been drilled in the past and it has been estimated to take between 25 and 50 days to complete.

One World Lithium currently has a 60% property interest in the 75,400 hectare Salar del Diablo project and will earn an additional 20% interest on completion of the drilling program. The company also has the right acquire a further 10% interest for a total of 90% property interest.

In other company news, One World Lithium said it has granted incentive stock options to two consultants to purchase up to 400,000 common shares at a price of $0.19 per share.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: One World Lithium Inc.

Price: $0.11

Market: CSE
Market Cap: $9.18 m
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Watch

One World Lithium prepares to drill at the Salar Del Diablo Project in Mexico.

One World Lithium (CSE:OWLI) Chief Geologist John Hiner sat down with Steve Darling from Proactive Investors Vancouver to talk about the drilling program about to begin at the Lithium Project in Mexico. Hiner talked about the excitement surrounding this area and how they decided on the holes...

on 5/3/19

2 min read