SASKATOON, SK – January 28, 2020 – Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), reports that it has commenced a 2,000m drill program 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. The diamond 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. The program is expected to run for 30 - 45 days.
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 similar 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 hydrothermal system with copper-gold mineralization spread over a large area (over 1.5km along strike) associated with typical copper porphyry style alteration. The current program is aimed at expanding the zones discovered by previous operators and CanAlaska by drilling several untested targets and chargeability anomalies identified by previously conducted IP survey, soil geochemistry and new sampling.
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.
For further information, please contact:
President and CEO
1 (306) 653-2692
Vice President, Business Development
1 (604) 561-2821
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.