Opawica Explorations (TSX-V:OPW) has generated about 10km of drill targets across its Bazooka and Arrowhead projects, after implementing artificial intelligence (AI) and machine learning with the geology team.
The company has already drilled 4km worth of target at its wholly owned Bazooka property, with historical drilling including 77.18 grams per tonne gold over 5.79m and 7.7g/t gold over 20m.
The company says its April drilling campaign intersected multiple mineralised zones, which is expected to return sometime this month. It notes that Opawica employs a combination of geology experts, AI, and machine learning to identify drill targets and this approach is working.
Opawica says this has enabled the company to secure funding and the required drill permits to advance exploration efforts.
Couloir Capital Analyst Tim Wright, who recently published an independent report on the company, says the company has crafted a clear exploration strategy with swift execution for generating targets.
“Already tested targets have yielded fantastic drill results, validating the firm’s approach to exploration,” Wright says.
“At all three properties, Opawica has done various geological and geophysical surveys, to the tune of US$3 million ($4.64 million) and more than 11,000m of drilling at a cost of another US$3 million.”
As only 1km of the 7km fault zone at Bazooka has been explored, the company has identified 16,000m of “high-priority” targets across the two properties. Drilling will begin following the return of assays.
“Another factor supporting Opawica is the gold price,” says Wright.
“Trading at all-time highs, attracting investor interest and expected to remain buoyed for some time.”
Marked at US$3,363 ($5,200) as of today (3 June), the price of gold has seen an increase of 28.2% over the year to date, following trading disputes between the US and China. US President Donald Trump’s tariff policy reignited interest in gold and strengthened inflation, as reported by Mining.com.au.
Meanwhile, Opawica is offering up to 400,000 options at $0.14 per share to directors, officers, and consultants of the company, set to expire 3 June 2027.
The Bazooka Project is located in the Cadillac Fault Zone, adjacent to Yamana Gold’s Wasamac property, which contains a resource of 1.767 million ounces.
Opawica Explorations is a junior mineral explorer focused on the development precious and base metals at its projects in the Abitibi Gold Belt in Québec, Canada.
Write to Maddison Elliott at Mining.com.au
Images: Unsplash
