SASKATOON, April 3, 2019 /CNW/ - Omineca Mining and Metals
Ltd. (TSXV: OMM) ("Omineca" or the "Company") announces that
further to the new release of March 1,
2019 "Omineca Executes Binding Letter Agreement to
Commence Bulk Sample Operations at the Wingdam Project", it has
signed a Mining Services Agreement (the "Agreement") with HCC
Mining and Demolition Inc. ("HCC"), a diversified, contract mining
company based in Saskatoon, SK to
perform all mining services associated with the bulk sample program
at the Company's Wingdam placer gold recovery project located 45
kilometers east of Quesnel,
BC.
Under the Agreement, HCC will supply all labour, equipment,
material, supplies and services necessary to carry out the bulk
sample on the Wingdam property at a fixed rate of CAD $850 per ounce of gold recovered. The Agreement
and rate will cover the bulk sample planned for 2019 and any
subsequent sampling activities over the entire 2.4 kilometer
underground paleochannel on the Wingdam property. Under the terms
of the binding letter agreement announced on March 1, 2019 these costs will be born
proportionately by Omineca and its partner, with all preparatory
costs to be borne by the partner. Omineca anticipates that HCC will
also be contracted for the preparatory work necessary to begin the
sampling program.
The proposed 2019 bulk sample will involve a series of
cross-cuts and drifts running 300 meters down the length of the
underground paleochannel, as a follow-on to the smaller scale,
cross-cut bulk sample completed in 2012, and will use modern freeze
mining technology. The 2.4m x
2.4m x 23m bulk sample cross cut completed in 2012,
successfully recovered 5.4 kilograms (173 troy ounces) of placer
gold. HCC will be following a detailed Bulk Sample Mine Plan
developed by the Company in 2016 based on the successful techniques
used in 2012. The 2019 bulk sample program is anticipated to take
approximately 16 months to complete including mobilization,
dewatering, access drift expansion, ground freezing and the 300
meter bulk sample.
Omineca is pleased to partner with HCC. HCC is a
Saskatchewan based mining and
civil infrastructure company that includes an aboriginal equity
ownership interest held by Mistawasis Nehiyawak. In addition to 20
years of extensive potash experience, HCC brings project
accomplishments in gold, uranium, and oil and gas, both
domestically and internationally. A division of HCC operated in
Africa and Asia for over 10 years including the mining of
an alluvial gold operation in eastern Congo. HCC's experience, specialized
equipment, innovative mining techniques and an excellent safety
record (recipient of the Saskatchewan Mining Association's 2018
Safety Achievement Award) are ideally suited for the Wingdam
project.
Omineca anticipates that it will have an executed joint venture
agreement in place in the second quarter of 2019 and that
preparatory work at Wingdam will commence shortly thereafter.
The joint venture agreement will be subject to regulatory and TSXV
Exchange review and acceptance.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd.'s primary property is
the 2700 ha Wingdam Project located 45 km east of Quesnel B.C. on the Barkerville highway.
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. Further information can be found at
www.ominecaminingandmetals.com
Qualified Person
Dr. Stewart A. Jackson, PGeo, is
a qualified person (QP) within the context of National Instrument
43-101, and has prepared, read and approved the technical aspects
of this news release.
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