SASKATOON, Feb. 7, 2019 /CNW/ - Omineca Mining and Metals
Ltd. (TSXV: OMM) ("Omineca" or the "Company") reports that a
UAV-MAG survey completed in August
2018 at the Wingdam gold project in the Cariboo gold
district of British Columbia has
shown magnetic lineaments that together with data compilation have
developed drill targets for both the Wingdam and Fraser Canyon
properties. The 2018 exploration focussed on identifying bedrock
hosted gold targets as potential sources for placer gold
historically found on these properties. Eight compelling targets
were identified bearing similar structural controls to the gold
hosted at Barkerville Gold Mine's Cariboo project located 25 km
east-northeast of Wingdam.
On the Wingdam property in 2012, the Company completed a bulk
sample successfully recovering 5.4 kilograms of raw placer gold
from a single 23.5 meter by 2.44 meter wide drift across the
underground channel that runs 2.4 kilometers through the Wingdam
hard rock and placer claims.
The Fraser Canyon property similarly has a long history of
placer mining dating back to the gold rush of the late 1800's. The
exploration programs on Fraser Canyon will focus both on
identifying prospective placer gold as well as drilling potential
hard rock gold targets displaying similar Riedel style slip faults
identified at Wingdam and analogous to Barkerville Gold's Cariboo
project.
The 2018 survey was flown by Pioneer Aerial Surveys Ltd. of
Regina, SK with analysis and
compilation completed by Axiom Group of Companies Ltd. of
Saskatoon, SK.
A total of 8 bedrock priority exploration targets were
identified by the program; four on the Wingdam Property and four on
the Fraser Canyon Property. Among the recommendations was to
drill several NW striking faults where they intersect NE trending
faults. Several areas of Riedel style strike-slip deformation along
NW trending regional faults were identified. This structural
pattern is indicative of Riedel style strike-slip deformation that
would produce sub-vertical ore chutes, similar structural controls
of gold hosted at Barkerville.
Future work plans to be finalized include:
- A Resistivity/IP survey or VTEM survey on the areas of interest
in the Wingdam and Fraser Canyon project lands in order to
prioritize prospective structural trends for future drilling.
- Drilling NW striking faults where they intersect NE trending
faults identified. This structural pattern is indicative of Riedel
style strike-slip deformation that can produce sub-vertical ore
chutes, similar to structurally controlled gold at Barkerville Gold
Mines' Cariboo project.
- Completion of a 3D inversion of the 2018 UAV-MAG data from the
Fraser Canyon property, to apply in exploration for placer
gold.
- Re-examination of the data from the 2013 Resistivity/IP survey
to fine tune the magnetic interpretation prior to drilling the
targets on the Fraser Canyon property. A priority should be given
to lineaments interpreted to lie at an R' orientation to the
primary NW trend that also have an associated IP response as this
could be indicative of a mineralizing system.
Omineca is also pleased to announce the appointment of Dr.
Stewart A. Jackson, PGeo. a
Qualified Person ("QP") as defined by National Instrument 43-101,
as a Technical Advisor to the Company. Dr. Jackson has over
50 years experience in minerals exploration in a variety of deposit
types, and in many areas of the world. He has worked with
both major and junior companies, as an employee and as a
principal. He is responsible for the discovery and
development of numerous mineral deposits in particular a series of
gold deposits, including the Buckhorn in the Republic District of
Washington produced by
Kinross Gold, and the large Viken
vanadium-nickel-zinc-uranium deposit in Sweden now under development by EU Energy.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd. controls a 100% interest in the
Wingdam Project through its wholly owned subsidiary CVG Mining
Ltd. The 2700 ha Wingdam Project is located 45 km east of
Quesnel B.C. on the Barkerville
highway and provides a unique opportunity for Omineca to develop
near-term placer gold production in a proven mining district.
The property overlies both placer and hard-rock tenures along the
Lightning Creek valley, where topographic conditions have created a
deep overburden accumulation which effectively resulted in a large
portion of the channel being excluded from conventional surface
placer mining activity.
This press release was prepared and approved by Dr. Stewart A. Jackson, PGeo., a Qualified Person as
defined by National Instrument 43-101.
Forward Looking Statements
This release includes forward-looking statements regarding
Omineca and its business. Such statements are based on the
current expectations and views of future events of Omineca's
management. In some cases, the forward-looking statements can
be identified by words or phrases such as "may", "will", "expect",
"plan", "anticipate", "intend", "potential", "estimate", "believe"
or the negative of these terms, or other similar expressions
intended to identify forward-looking statements. The
forward-looking events and circumstances discussed in this release
may not occur and could differ materially as a result of the
failure to consummate the project financing, the economic
feasibility of the Wingdam Project, known and unknown risk factors
and uncertainties affecting Omineca, including risks regarding the
resource industry, economic factors and the equity markets
generally and many other factors beyond the control of
Omineca. No forward-looking statement can be
guaranteed. Forward-looking statements and information by
their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information.
Forward-looking statements speak only as of the date on which they
are made and Omineca undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise, except as required by
applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Omineca Mining and Metals Ltd