Investment Highlights
- Opawica Explorations (“OPW” or “Company” or “Opawica”) is actively exploring two exciting gold projects, Bazooka and Arrowhead, in the prolific Abitibi Greenstone Belt in Quebec, Canada. The region hosts numerous multimillion-ounce gold deposits and operating mine sites and represents one of the most fertile geological domains for gold worldwide.
- Highly prospective exploration projects: The Company has three exploration stage gold projects, with the focus being on Bazooka and Arrowhead. These, projects have seen around 45,000 m of historical drilling and over 11,000 m of drilling carried out by OPW. Notable intersects so far include 77.18 g/t over 5.79 m and 7.7 g/t over 20 m. Assays are pending for recent drill holes where mineralization was intersected over 42 m and 60 m, respectively, with visual gold in parts of the drill hole.
- Clear exploration strategy and swift execution: OPW uses geology experts, artificial intelligence, and machine learning to generate drill targets on Bazooka and Arrowhead. Currently, around 16,000 m of drill-ready targets on both projects and already tested targets have yielded fantastic drill results, validating the firm’s approach to exploration.
- Continued progress: The Company has demonstrated its ability to generate drill targets and obtain the necessary permitting and financing to pursue its exploration strategy. Shareholders can look forward to continued drilling on the projects and steady news flow with drill results as the firm works towards a maiden resource.
- We are initiating coverage with a BUY recommendation with a target price of $ 0.33 over a 12 month period.
OVERVIEW
Opawica is a gold exploration company focusing on Canada’s prolific Abitibi Greenstone Belt, widely known as a world-class gold mining region. The Company is channelling its resources to explore its three gold properties, Bazooka, Arrowhead, and McWatters, all located around the Rouyn-Noranda mining camp. All three properties are located along the Cadillac-Larder Lake Break/Fault (CLLB), one of the most prolific gold-bearing structures worldwide, making the properties highly prospective.
The firm uses geology experts in conjunction with artificial intelligence (AI) and machine learning (ML) models to delineate drill targets on the properties. This approach has yielded fantastic results in this particular region, as there is a lot of data to draw from. Several active gold mines in the region, numerous current exploration projects and data from historic mining and exploration over the last 100 years result in a large amount of data to process. With this approach, the firm has generated around 10km of drill targets on both Bazooka and Arrowhead, of which approximately 4 km have been drilled on Bazooka. So far, the approach has yielded many high-grade intercepts that were fairly short. In April 2024, OPW announced that the drill bit had intercepted mineralized zones of over 40 m and up to 60 m. The assay results for these mineralized zones are pending and could well lend a boost to the OPW share price upon release.
ABRIDGED CORPORATE HISTORY
The current CEO of Opawica Explorations joined Opawica in 2020. Since then, the Company has consistently focused on exploring for gold. It had assessed properties in Newfoundland and British Columbia that were of interest. Management decided to focus its exploration efforts on the three most promising properties in Quebec, namely Bazooka, Arrowhead and McWatters. At the three properties, OPW has conducted various geological and geophysical surveys as well as >11,000 m of drilling, spending around $3 million on drilling, around $3 million on geophysics and has invested in geological staff both in Vancouver and at the site.
The firm has been very successful in identifying drill targets with artificial intelligence and machine learning and, obtaining the necessary permits, securing the funding and executing the drill and geophysical programs. The Company continues to publish exciting drill results with plenty of newsflow expected over the coming months.
