SASKATOON, SK, June 10, 2020 /CNW/ - Omineca Mining and Metals
Ltd. (TSX-V: OMM) ("Omineca" or the "Company") announces that, in
conjunction with the successful completion of its over-subscribed
financing, it has initiated field work at the Wingdam hard-rock
gold project in the Cariboo Mining District, 25 km west of
Barkerville, BC.
Omineca further announces the appointment of Mr. Stephen Kocsis, P. Geo as lead geologist for the
Wingdam exploration project. Based in Quesnel, BC, Mr. Kocsis has spent his career
exploring for gold and other mineral deposits in the Cariboo Mining
District and has authored numerous papers and technical reports
covering the project area, including the Wingdam Property NI
43-101 Report (June
2012).
With snow cover now receded, management, Stephen and the
geological team from Axiom Exploration Group have been to the site
and surveyed the initial locations of interest identified by
geophysics to coordinate plans and procedures for the 2020
exploration and drilling program.
2020 Exploration Program
Omineca is planning its first hard rock exploration and drilling
program targeting the lode gold sources of the placer gold
recovered from the underground paleochannel along Lightning Creek
at Wingdam, BC, Canada.
The activities and objectives of the program include:
- Investigation and mapping of apparent localized structural
controls to guide drilling.
- Underground sampling, and potential drilling (once the 2012
paleochannel bulk sample decline is open and rehabilitated).
- Morphological and geochemical analysis of paleo-placer gold
samples to further match and identify source rocks and structures
from where the placer gold may have originated.
- Access and logistics for drill pads and equipment.
- Drilling 8,000m through 27 core
drilling holes, pending approval of permits.
The drill program, which will follow-up the results of the
initial exploration program, will target several NW striking faults
where they intersect NE trending faults identified in the magnetic
survey completed in 2018. This structural control pattern is
indicative of Riedel style strike-slip deformation known to produce
sub-vertical ore shoots similar to structural controls involved
with gold hosted at Barkerville, 25 kilometers to the east.
In an earlier SkyTEM survey, a large electro-magnetic signature
was identified immediately upstream of Omineca's underground
paleo-placer gold recovery program at Wingdam. The Lightning
Creek river valley is a major erosional feature cross-cutting
through several parallel structures including the large SkyTEM
electro-magnetic anomaly. The creek itself is known to contain high
concentrations of placer gold immediately adjacent to and
downstream of the magnetic anomaly (see NI 43-101 report on 2012
bulk sample at Wingdam conducted by OMM's wholly owned CVG
Mining). Parallel structures with similar geology are known to
host lode gold within the region. Several nuggets of placer gold
recovered in 2012 were rough to jagged edged and in some cases
containing quartz, all potentially indicative of a nearby lode
source.
Qualified person
Stephen Kocsis, P.Geo, is a
qualified person within the context of National Instrument 43-101
and has prepared, read and approved the technical aspects of this
news release.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd. controls its flagship Wingdam
Project and the Fraser Canyon Project through its wholly owned
subsidiary CVG Mining Ltd. The Wingdam Project is located 45
km east of Quesnel B.C. on the
Barkerville highway. The property includes both placer and
hard-rock tenures along the Lightning Creek valley, where
topographic conditions created a thick overburden which preserved a
large portion of the channel from conventional surface placer
mining activity.
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