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One World Lithium mobilizes drill rig at Salar del Diablo project in Mexico

Shares of One World Lithium jumped on the announcement that it was moving its drill rig to its Salar del Diablo project, located in the state of California Baja Norte, Mexico

lithium brine project
The 75,400-hectare Salar del Diablo lithium brine project is located in the State of California Baja Norte, Mexico

One World Lithium Inc (CSE:OWLI) (OTCMKTS:OWRDF) shares soared on Wednesday after the company announced it was moving a drill rig to the Salar del Diablo Project in Mexico. 

Shares of One World Lithium jumped 8% to US$0.13 in New York and 6.3% to C$0.17 in Toronto by Wednesday midday. 

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

According to the company, Layne de Mexico is moving a truck-mounted reverse circulation drill rig, drill pipe, compressors and other equipment from its Hermosillo yard to the Salar Del Diablo Project, over three days. 

The 12-hole, 4,250 meter drilling program will test three geophysical zones covering more than 54 square kilometers, a large geochemical anomaly that covers 150 square kilometers, and geological structures.

The exploration company, which is focused on lithium in brine projects, currently has a a 60% property interest with an option to acquire a further 30% property interest for a total of a 90% working interest in the 75,400-hectare Salar del Diablo lithium brine project, which is located in the State of California Baja Norte, Mexico.

According to the company, its affiliate filed its drill permit application on March 5, 2019 and may take 20 or more business days for approval. 

The company also announced it has engaged investor relations firm, Kaye Wynn Consulting, which has success in both the Canadian and US stock markets. 

Contact Katie Lewis at [email protected]

Quick facts: One World Lithium Inc.

Price: 0.13 CAD

CSE:OWLI
Market: CSE
Market Cap: $10.85 m
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