SASKATOON, SK – September 22, 2020 – Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), announces that it has commenced its maiden diamond drill program at the Wingdam gold exploration project in the Cariboo Mining District of south-central British Columbia.
Initial drilling is focussed on an area within a one kilometer radius adjacent to and upstream of the single underground crosscut that yielded 173.4 ounces of placer gold. The drill program follows initial exploration consisting of airborne geophysics, rock sampling and soil geochemical analysis conducted by Stephen Kocsis and Axiom Exploration Group’s geological team.
Omineca’s lode gold exploration program targets 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 at the Osisko Gold Royalties’ Cariboo Gold Project located 25 kilometers to the east. The Wingdam and Cariboo Gold projects share similar lithology and structure; two of the main ingredients for mineralization in the gold producing Barkerville Terrane.
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 now totaling over 51,000 hectares (510 square kms) surrounding the Lightning Creek valley. Topographic conditions created a thick overburden which preserved a large portion of an underground channel from conventional surface placer mining activity. For 2020, Omineca has plans to re-start a bulk sampling program to recover placer gold trapped underground while also conducting a diamond drill program to explore for multiple potential hard rock sources of the placer gold.
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.