SASKATOON, SK, Dec. 10, 2020 /CNW/ - Omineca Mining and Metals
Ltd. (TSXV: OMM) ("Omineca" or the "Company"), announces
that it has commenced dewatering and decline rehabilitation
activities at the Company's underground placer gold project at
Wingdam in the Cariboo Mining District of south-central British
Columbia. Having recently completed the installation of a
second temporary grout plug to further limit excess waterflow from
older workings, dewatering is displaying a dramatically improved
drawdown rate which should result in a significant reduction in
dewatering time. Concurrent with dewatering the Company
has begun the rehabilitation required in the existing decline and
workings which will include the installation of a permanent
engineered grout plug as well as ventilation, heating and
electrical infrastructure in preparation for the bulk sample
operations to begin.
The 2020/2021 bulk sampling program is designed to continue the
successful bulk sample program initiated in 2012. The 2012 program
utilized ground freeze technology to recover 173.4 ounces of placer
gold from a single, 2.4m x
2.4m x 24m long drift across the gold-bearing
paleochannel located ~50m beneath Lightning Creek. This
initial phase of the bulk sample program will run along the first
300 meters of the paleochannel.
About Omineca Mining and Metals Ltd.
Omineca Mining
and Metals Ltd.'s flagship Wingdam gold exploration and placer
recovery project is located along the Barkerville Highway 45 km
east of the town of Quesnel.
The property includes hard-rock tenures totaling over 50,000
hectares (500 square kms) and in excess of 15 linear kilometers of
placer claims, both encompassing the Lightning Creek valley where
topographic conditions created a thick overburden which preserved a
large portion of an underground channel with placer gold-bearing
gravels. Omineca also has a diamond drill program currently
underway exploring for the potential multiple hard rock sources of
the placer gold at Wingdam.
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