SASKATOON, SK, March 5, 2021 /CNW/ - Omineca Mining and Metals
Ltd. (TSXV: OMM) ("Omineca" or the "Company"), reports that
it has completed 5 diamond drill holes for 2,000m in a drill program fulfilling its
commitment to earn a 50% interest at the Mouse Mountain project
located approximately 15 kilometers due west of Omineca's Wingdam
gold project in the Cariboo Mining District of south-central BC.
Results of this program will be announced once received.
This initial drill program has been focused on testing multiple
copper-gold targets along a 1.5-kilometre zone defined by a
combination of earlier exploration and chargeability targets
identified by historical IP (induced polarization) surveys.
Mouse Mountain is an alkalic Cu-Au porphyry project located in the
prolific NW-SE trending Quesnel Terrane which is immediately
adjacent (west of) the similarly trending Barkerville Terrane that
hosts Omineca's Wingdam Gold project. Located between the nearby
Mt. Milligan and Mount Polley mines within the Quesnel Terrane, the
project is centered on a large intrusive system with copper-gold
mineralization spread over an extensive area (over 1.5km along
strike) associated with typical copper porphyry style
alteration.
This drill program is part of the option agreement (see news
release October 10, 2020) to acquire
up to a 50% interest in CanAlaska Uranium Ltd.'s (TSXV: CVV) Mouse
Mountain Project by incurring 2,000 metres of diamond drilling and
issuing 300,000 OMM shares to CanAlaska.
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