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
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