SASKATOON, SK, May 19, 2021 /CNW/ - Omineca Mining and Metals
Ltd. (TSXV: OMM) ("Omineca" or the "Company"), reports that it has
completed the Phase 1 lode gold exploration diamond drilling
program at the Wingdam Project approximately 40 kilometers east of
Quesnel in the Cariboo Mining
District of British Columbia. The
Company has completed 5,615 meters of drilling in 21 of 27 proposed
drill holes of the program. Omineca also reports that it has
changed assay labs and the remaining drill holes from Phase 1 have
been moved into the Phase 2 drill program which has been expanded
to 60 drill pads and is anticipated to begin in June this
year.
The Phase 1 program was designed to define prospective areas
within the expansive land package and encountered significant
indicator mineralization in multiple holes. The
mineralization included prospective zones of replacement pyrite
with anomalous gold and arsenic values, lenses of semi-massive
sphalerite (zinc), and polymetallic quartz carbonate veining
hosting anomalous zinc, lead, copper, silver, and arsenic. Data
from the oriented drill core has also advanced the understanding of
the structural controls in these areas as well as identifying fold
hinges, which may have potential to host Barkerville style gold
mineralization. These initial drill results are showing the
indications Omineca is looking for and warrant further follow-up
exploration along identified trends.
Stephen Kocsis, Omineca lead
geologist commented; "A replacement pyrite zone with anomalous gold
values in the Barkerville Terrane was identified in two holes
(WD20-02 and 21) drilled on the Wingdam Property. The zone contains
the same style of mineralization as reported by Osisko Development
Corp. in the Bonanza Ledge replacement pyrite deposit. The Bonanza
Ledge Deposit is in the Barkerville Terrane as well roughly 30 km
to the east. The confirmation of favourable lithology and structure
needed to produce replacement-style and other types of
mineralization along the western outskirts of the Barkerville
Terrane is an important achievement. This has given me the
confidence to recommend an aggressive follow-up exploration
plan".
In conjunction with the initial phase of exploration and
drilling, Omineca applied for and received from the BC government a
multi-area/multiyear drill permit expanding the program to 60 drill
pads and extending the permit to a period of 5 years. Based
on the results to date, the Company will initiate Phase 2 of the
maiden drill program in June of 2021. The 2021 drill program
will continue to focus on existing prospective horizons identified
in the earlier exploration and drilling as well as newly identified
geophysical anomalies believed to be associated with structures of
interest along trend.
The 2021 summer exploration program will also include the
investigation of structures identified by the recently completed,
extensive triaxial magnetic survey, comprehensive geological
mapping, prospecting, soil sampling, and a new stream sediment
sampling program.
Qualified Person
All scientific and technical information in this news release
has been prepared by, or approved by Stephen Kocsis, P.Geo Lead Geologist. Mr. Kocsis
is a qualified person for the purposes of National Instrument
43-101 - Standards of Disclosure for Mineral Projects.
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
Wingdam Property includes mineral 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 thick layers of overburden, which
preserved a large portion of a buried paleochannel containing
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