SASKATOON, SK, June 21,
2023 /CNW/ - Omineca Mining and Metals Ltd.
(TSXV: OMM) ("Omineca" or the "Company") is pleased to report that
further to the earlier update (see news release March 2, 2023) for the Wingdam underground
project located 40 km east of Quesnel,
BC, the Company's Option partner, Hamilton Gold Royalties
("HGR") has successfully extended the haulage drift and completed
the access drift for the 3rd crosscut into the placer
gold bearing paleochannel (see Diagram 1 below). Crews drilled
several pilot//test holes ahead into the channel at the #3 crosscut
heading, several feet above the channel floor encountering gravels
and clay material with visible placer gold. HGR has also processed
waste rock material from the haulage/access drifting approaching
the crosscut heading #2 recovering approximately 11 ounces of
coarse placer gold flakes resembling the placer gold from the 2012
crosscut and a 1.13-ounce nugget (see photo 1 below). The results
of this initial excavation exceed those of the entrance to the
paleochannel in the 2012 bulk sample test.
Of particular significance, the large 1.13 oz gold nugget
recovered at the #2 crosscut exhibits size and dimensional
characteristics of very low transport distance from source and
provided a welcome surprise, given its recovery from the very
beginning edge of the gold bearing paleochannel. The nugget is
larger than any produced in the 2012 bulk sample and further
demonstrates the extremely coarse nature of the Wingdam deposit.
The processed waste rock material (approximately 50 cubic yards)
was recovered approaching the entrance to crosscut #2 where the
drift transitioned from bedrock to fault gouge and into a limited
amount of the paleo gravels upon entering the paleochannel. Of the
11 ounces recovered, 9.9 ounces were recovered from approximately
20 cubic yards of the material within the first 2 meters of advance
into the channel gravels, still above the channel floor.
Mining operations have been suspended during the spring runoff
period which is just ending. During this time, Omineca's partner
has initiated an internal reorganization in order to complete and
execute the formal Joint Venture Agreement. The mine has been kept
fully dewatered and is ready to recommence mining, expected
within the coming few weeks. Once operations resume, the miners
plan to break through into the channel at both crosscut headings 2
and 3 and continue on through to the center of the channel (see
diagram 1). The main access/haulage drift has now been extended
beyond the 3rd crosscut heading with #3 Crosscut haulage drift
being driven at approximately 45º toward the paleochannel which is
now at the bedrock contact approximately 26 meters in from the main
access/haulage drift. Crosscuts from both headings 2 and 3 have a
targeted length of approximately 25 meters from the bedrock contact
into the paleochannel. HGR will provide updates as they make
progress towards the main placer gold bearing material from the
center of the paleochannel.
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 City of Quesnel.
The Wingdam Property includes mineral tenures totaling over 61,392
hectares (613 square kms) and in excess of 15 linear kilometers of
placer claims, both encompassing the Lightning Creek valley where
topographic conditions created thick layers of overburden, which
preserved a large portion of a buried paleochannel containing
placer gold-bearing gravels. Omineca also has an exploration and
diamond drill program currently underway exploring for the
potential multiple hard rock sources of the placer gold at
Wingdam.
Qualified Person
All scientific and technical
information in this news release has been prepared by, or approved
by Stephen Kocsis, P.Geo., Lead
Geologist. Mr. Kocsis is a qualified person for the purposes of
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
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 secure TSX Venture Exchange of the
grant of options 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