SASKATOON, Jan. 17, 2020 /CNW/ - Omineca Mining and Metals Ltd. (TSX-V: OMM) ("Omineca" or the "Company") announces that it has staked an additional 36,000 hectares of mineral claims at Wingdam, British Columbia. Omineca now holds 100% ownership of over 39,000 contiguous hectares at its Wingdam project, in addition to the placer claims comprising the Wingdam underground alluvial gold recovery project. Based on the Company's own geophysical work from 2018/19 and the review of available SKYTem geophysical data and regional geology, the Company has identified multiple targets for its 2020 lode gold exploration program.
The geological similarities and location parallel to the multi-million ounce gold resource at Osisko Gold Royalties' Cariboo Gold Project (formerly Barkerville Gold Mines) provides an exciting exploration opportunity for Omineca. The newly acquired claims significantly expands the inventory of target structures that will be subject to the upcoming exploration and drilling program at the Wingdam gold project. The program will specifically target disseminated gold mineralization within the phyllite bedrock units as well as gold associated with quartz veining found at Wingdam and the surrounding area.
Dr. Stewart A. Jackson, PGeo, 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 a 100% interest in the flagship Wingdam Project and a 100% interest in the Fraser Canyon 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. The property includes both placer and hard-rock tenures along the Lightning Creek valley, where topographic conditions created a thick overburden which preserved a large portion of the channel from conventional surface placer mining activity.
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: Tom MacNeill, President and CEO, 306-653-2692