Cranbrook, British Columbia (FSCwire) - Omineca Mining and Metals Ltd. (TSX-V:OMM) shareholders approved all matters put before them at the Company's Annual and Special Meeting held on September 29th as follows:
1. Elected the following directors of the Company for the ensuing year: Charles C. Downie, Timothy Jay Termuende, Tom M. MacNeill, Andrew B. Davidson, Neil MacDonald, and Darren B. Fach;
2. Appointed Crowe MacKay LLP as auditors of the Company for the ensuing year;
3. Passed a resolution approving the renewal of the Company's Stock Option Plan;
A total of 53,876,947 shares representing 76% of the outstanding common share capital of the company were voted.
About Omineca
Through its’ 100% ownership of CVG Mining, OMM controls the Wingdam project, which holds strong potential to develop near-term gold production in a proven mining district. The property overlies both placer and hard-rock tenures along the Deep Lead Channel of Lightning Creek, 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. On the Wingdam property, drilling and geophysical work indicate that the Deep Lead Channel may occur throughout the entire 2.4km length of the Wingdam placer tenures, extending upstream and downstream an undetermined distance. Numerous attempts have been made to mine the Deep Lead Channel in the Wingdam area since the late 1880s, but all were hampered by an influx of water and unstable ground conditions and were ultimately abandoned.
In 2012 CVG successfully completed a crosscut drift 23.5m across the Deep Lead Channel along the bedrock/gravel interface, using the Australian deep-lead mining method combined with a ground-freeze method. This effort not only proved the applicability of the freeze method, but also provided a bulk sample whereby “the gold recovered from the 23.5-meter drift advance across the paleochannel true width amounted to 173.495 ounces of raw placer gold (900 fineness) from 140 bank cubic meters. The refined-equivalent gold grade across this width amounted to 34.55 g/m3 or 0.453 oz/tonne. The grade across a central portion of the paleochannel totaling 14.8 m (3.8 to 18.6m) averaged 46.30 g/m3 or 0.608 oz/tonne” (S. Kocsis 43-101 technical report, Oct, 2012).
The abundance and physical nature of the placer gold recovered during the 2012 test mining operation indicates that it is in part, locally derived. Little or no systematic exploration work has been carried out on the property to test for the occurrence of lode gold, leaving excellent potential for the exploration and possible discovery of in-situ (hard-rock) gold mineralization in addition to the presence of a proven placer deposit.
The Wingdam project received final permitting in January, 2015 to conduct Phase One testing along a 300m drift length, with potential for expansion contingent on favourable results.
About Omineca
Omineca Mining and Metals continues to advance the Wingdam/Lightning Creek project in central British Columbia within the prolific Cariboo Goldfields. The project features a deep paleochannel containing undisturbed gold-bearing gravels. Numerous unsuccessful attempts have been made over the past 120 years, but recent technological advances in mining will be utilized to unlock the value of the project.
On behalf of the Board of Directors
“Charles C. Downie”
President
For further information on OMM, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@ominecamining.com or visit our website at http://www.ominecamining.com
Cautionary Note Regarding Forward-Looking Statements
Neither the 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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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public://news_release_pdf/omineca10012015.pdfSource: Omineca Mining and Metals Ltd. (TSX Venture:OMM)
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