Omineca Provides an Update on its Placer Gold Project at Wingdam
Omineca Provides an Update on its Placer
Gold Project at Wingdam
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 3
rd
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.
Photo 1. Approximately 4.4 of 11 oz of Placer Gold and a 1.13 Ounce Placer Gold Nugget (CNW
Group/Omineca Mining and Metals Ltd)
Diagram 1. (CNW Group/Omineca Mining and Metals Ltd)
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
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For further information:
Tom MacNeill, President and CEO, 306-653-2692
CO: Omineca Mining and Metals Ltd
CNW 08:30e 21-JUN-23