Opawica Explorations Inc. (TSXV: OPW) has provided a comprehensive update on its exploration activities, highlighting significant progress on its gold properties in Quebec's prolific Abitibi Gold Belt. The company's strategic focus on its 100% owned Arrowhead property and the potential joint venture or sale of its Bazooka property comes at a time when gold prices are at all-time highs, generating considerable market interest in its assets.
CEO Blake Morgan stated that the company has completed extensive groundwork and a drill program, with all data reviewed. The next stage involves drilling 10,000 meters of high-priority targets on the Arrowhead property, which is fully permitted and surrounded by Agnico Eagle Mines Limited, contiguous to its premier La Rhonde Complex gold mine. This geographical positioning in a proven mining district enhances the property's potential value and reduces exploration risk.
The company's accomplishments in 2025 include receiving drill permits for both the Arrowhead and Bazooka properties, announcing over 10,000 meters of high-priority drill targets on each property, and completing a drill program on the Bazooka property with what the company describes as "fantastic results." Opawica was also awarded Gold Explorer of the Year for 2025 by Metals and Mining Magazine. A significant development was the conceptual exploration target announced for the Bazooka Property: 10-40 million tonnes grading between 0.9 to 1.45 grams per tonne gold, for a total of 1.5 to 2 million ounces. Details were provided in a news release on October 16, 2025.
Since 2021, Opawica has identified 59 high-priority drill targets on the Bazooka Property, successfully permitted drill holes, and completed multiple financing rounds raising over $7 million. The company completed a 384-line-kilometer geophysical survey on the Bazooka asset and a 2-D deep seismic program on the Arrowhead property. It has also established communications with First Nations and local contractors. Historical data compilation and geological modeling have been completed, incorporating data from drilling, geophysics, and AI machine learning services from GoldSpot Discoveries Corp.
The company's follow-up plans include securing a drill contractor for the Arrowhead Property, starting a Phase 2 drill program there, and pursuing a joint venture or sale of the Bazooka Property. Morgan emphasized that the continued development of corporate assets is a value-generating event for shareholders, with the overall plan being to maximize value through asset growth, including allocating additional funds into the Rouyn-Noranda camp.
Opawica's assets have had over $6 million spent on them since 2021, with three drill programs completed. The properties benefit from existing infrastructure including road access, water, and hydro-electric power, which keeps exploration costs low. The company operates in one of the world's most prolific gold-bearing regions, with multiple active mines contiguous and within 7 kilometers of its assets, indicating substantial regional upside.
The company now has what it describes as a "great understanding" of the structure and gold mineralization of the region based on completed work, which will assist with the upcoming drill program. The immediate focus remains on advancing both the Arrowhead and Bazooka Properties, which management considers projects of considerable merit. All scientific and technical information was reviewed and approved by independent Qualified Person Yvan Bussieres, P.Eng., under National Instrument 43-101.
