SASKATOON, Feb. 7, 2019 /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company") reports that a UAV-MAG survey completed in August 2018 at the Wingdam gold project in the Cariboo gold district of British Columbia has shown magnetic lineaments that together with data compilation have developed drill targets for both the Wingdam and Fraser Canyon properties. The 2018 exploration focussed on identifying bedrock hosted gold targets as potential sources for placer gold historically found on these properties. Eight compelling targets were identified bearing similar structural controls to the gold hosted at Barkerville Gold Mine's Cariboo project located 25 km east-northeast of Wingdam.
On the Wingdam property in 2012, the Company completed a bulk sample successfully recovering 5.4 kilograms of raw placer gold from a single 23.5 meter by 2.44 meter wide drift across the underground channel that runs 2.4 kilometers through the Wingdam hard rock and placer claims.
The Fraser Canyon property similarly has a long history of placer mining dating back to the gold rush of the late 1800's. The exploration programs on Fraser Canyon will focus both on identifying prospective placer gold as well as drilling potential hard rock gold targets displaying similar Riedel style slip faults identified at Wingdam and analogous to Barkerville Gold's Cariboo project.
The 2018 survey was flown by Pioneer Aerial Surveys Ltd. of Regina, SK with analysis and compilation completed by Axiom Group of Companies Ltd. of Saskatoon, SK.
A total of 8 bedrock priority exploration targets were identified by the program; four on the Wingdam Property and four on the Fraser Canyon Property. Among the recommendations was to drill several NW striking faults where they intersect NE trending faults. Several areas of Riedel style strike-slip deformation along NW trending regional faults were identified. This structural pattern is indicative of Riedel style strike-slip deformation that would produce sub-vertical ore chutes, similar structural controls of gold hosted at Barkerville.
Future work plans to be finalized include:
- A Resistivity/IP survey or VTEM survey on the areas of interest in the Wingdam and Fraser Canyon project lands in order to prioritize prospective structural trends for future drilling.
- Drilling NW striking faults where they intersect NE trending faults identified. This structural pattern is indicative of Riedel style strike-slip deformation that can produce sub-vertical ore chutes, similar to structurally controlled gold at Barkerville Gold Mines' Cariboo project.
- Completion of a 3D inversion of the 2018 UAV-MAG data from the Fraser Canyon property, to apply in exploration for placer gold.
- Re-examination of the data from the 2013 Resistivity/IP survey to fine tune the magnetic interpretation prior to drilling the targets on the Fraser Canyon property. A priority should be given to lineaments interpreted to lie at an R' orientation to the primary NW trend that also have an associated IP response as this could be indicative of a mineralizing system.
Omineca is also pleased to announce the appointment of Dr. Stewart A. Jackson, PGeo. a Qualified Person ("QP") as defined by National Instrument 43-101, as a Technical Advisor to the Company. Dr. Jackson has over 50 years experience in minerals exploration in a variety of deposit types, and in many areas of the world. He has worked with both major and junior companies, as an employee and as a principal. He is responsible for the discovery and development of numerous mineral deposits in particular a series of gold deposits, including the Buckhorn in the Republic District of Washington produced by Kinross Gold, and the large Viken vanadium-nickel-zinc-uranium deposit in Sweden now under development by EU Energy.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd. controls a 100% interest in the Wingdam Project through its wholly owned subsidiary CVG Mining Ltd. The 2700 ha Wingdam Project is located 45 km east of Quesnel B.C. on the Barkerville highway and provides a unique opportunity for Omineca to develop near-term placer gold production in a proven mining district. The property overlies both placer and hard-rock tenures along the Lightning Creek valley, where topographic conditions have created a deep overburden accumulation which effectively resulted in a large portion of the channel being excluded from conventional surface placer mining activity.
This press release was prepared and approved by Dr. Stewart A. Jackson, PGeo., a Qualified Person as defined by National Instrument 43-101.
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.
SOURCE Omineca Mining and Metals Ltd
For further information: Omineca Mining and Metals Ltd., Tom MacNeill, President and CEO, 306-653-2692