SASKATOON, SK – May 20, 2020 – Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), is pleased to announce the results from its recent 2,000 metre drill campaign 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. Highlights include drillhole MM21-04, which intercepted 12 metres of 0.156% copper followed by 28 metres of 0.104% copper and a separate 3.2 metre interval in monzonite assaying 0.428% copper. The 2,000 metre drilling program intersected extensive sulphide mineralization in volcanic breccias interspersed with intrusive monzonite and monzonite breccias on the south west and south sides of Mouse Mountain, this is approximately 1km south of the mineralization at the Valentine zone and 2km south of the Rainbow zone mineralization. Planning for a follow up drill program based on these results will be announced when finalized.
Omineca has earned a 50% interest in the Mouse Mountain property and with report filing will have formed a Joint Venture with CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) for the further exploration of the property.
CanAlaska President, Peter Dasler, comments, “The property lies within a major trend of Tier 1 porphyry copper and copper-gold deposits and is located close to established infrastructure. The current drill program has allowed a better interpretation of the stratigraphy at Mouse Mountain, and the continuity of the mineralized monzonite and monzonite breccias. We are looking forward to working with Omineca to advance to new discovery using this information.”
Mineralized intervals above 0.1% copper threshold
| Hole number | From | To | Length, metres | Cu % | Au ppb | Lithology |
|---|---|---|---|---|---|---|
| MM21-02 | 197.00 | 198.05 | 1.05 | 0.123 | 20 | Monzonite Breccia |
| MM21-02 | 334.75 | 340.00 | 5.25 | 0.167 | 15 | Diorite Breccia |
| MM21-03 | 407.00 | 408.00 | 1.00 | 0.248 | 80 | Diorite Breccia |
| MM21-04 | 20.00 | 21.00 | 1.00 | 0.218 | 10 | Monzonite |
| MM21-04 | 32.00 | 44.00 | 12.00 | 0.156 | 163 | Monzonite |
| MM21-04 | 52.00 | 80.00 | 28.00 | 0.104 | 101 | Monzonite |
| MM21-04 | 180.80 | 184.00 | 3.20 | 0.428 | 550 | Monzonite |
| MM21-04 | 197.60 | 203.00 | 5.40 | 0.151 | 52 | Monzonite |
| MM21-05 | 158.00 | 160.00 | 2.00 | 0.103 | 40 | Monzonite |
| MM21-05 | 168.00 | 170.00 | 2.00 | 0.107 | 35 | Monzonite |
| MM21-05 | 175.00 | 177.00 | 2.00 | 0.098 | 48 | Monzonite |
| MM21-05 | 238.90 | 240.00 | 1.10 | 0.265 | 112 | Monzonite Breccia |
Previous drilling conducted by various companies focused on surface showings and related resistivity targets and did not fully test the surrounding geophysical chargeability anomalies. The last drill hole (RVC08-19) completed by Richfield (the previous property operator), intersected a non-magnetic monzonite breccia assaying 0.36% copper between 398 to 418 meters depth. This hole is located immediately adjacent to the northern end of the large chargeability anomaly on the west flank of Mouse Mountain and 800 metres north of the current drill targeting.
The project is centered on Mouse Mountain, 12km east of Quesnel, BC. The geology hosts a hydrothermal system with copper-gold mineralization spread over a large area associated with typical copper porphyry style alteration. Additional smaller copper showings extend further out from this system indicating potential for a large-scale porphyry copper and gold system. The current drill program was aimed at sulphide targets interpreted by geophysics, south of the previous drill targeting. The mineralization intercepted in the drilling confirmed the targeting and extended the mineralized monzonite footprint.
About Mouse Mountain
Mouse Mountain is located within the prolific Quesnel Terrane, a major regional mineral belt that hosts alkaline and calc-alkaline porphyry copper-gold-molybdenum deposits. The Quesnel terrane extends for 2,000 km northward from the Canada-US border and hosts among the province’s largest copper mining operations including the Gibraltar, Mount Milligan, and Copper Mountain mines.
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.
The qualified technical person for this news release is Dr Karl Schimann, P. Geo, CanAlaska director and VP Exploration.
For further information, please contact:
Tom MacNeill
President and CEO
1 (306) 653-2692
Dean Nawata
Vice President, Business Development
1 (604) 561-2821
dean@fnr.ca
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.
