SASKATOON, SK, Dec. 8, 2021 /CNW/ - Omineca Mining and Metals
Ltd.'s (TSXV: OMM) ("Omineca" or the "Company") reports that it has
finished compiling the data from its 2021 exploration programs
targeting potential lode gold sources of the Paleoplacer gold at
the company's Wingdam Project in the Cariboo Mining District in
South Central British Columbia. The 2021 program was significantly
expanded over the previous year's exploration program and entailed
detailed geophysics, rock, soil, and stream sediment sampling
programs which have been correlated with the 2020 exploration and
drill result data. A prioritized 2021/22 drill program is currently
being finalized for the following high priority target areas:
- Skopos - located immediately south of the Wingdam underground
placer project.
- Mary Creek - on trend 10 kilometers northwest of Wingdam.
- Roadcut Gossan - along trend 15 kilometers south of the Wingdam
underground workings.
Omineca has an expanded multi-area, multi-year permit that now
covers the 2021/22 drill and future exploration programs. These
programs are planned to begin in the winter 2021/22 season and run
through 2022. Each program will be announced once finalized.
Stephen Kocsis, P. Geo., and lead
geologist comments, "The 2021 exploration program, correlated
with the 2020 data, is providing the geological team with highly
prospective targets for the upcoming 2021/2022 drill season. With
very limited historical hard rock mining, exploration or drilling
in the area, the geophysical and geochemical programs continue to
corroborate our general theory of the main structural setting for
potential lode gold deposits that could have been the source of the
autochthonous or locally derived placer gold found at Wingdam. We
have several new soil and stream sediment gold and pathfinder
element anomalies along trend proximal to a first-order thrust
structure called the Eureka Fault. The trend extends about 11 km
southeast to a newly discovered gossanous area and 8 km northwest
to a lucrative placer gold area surrounding Mary Creek (the Toop
Mine). Drilling will focus along the Eureka Fault trend in
favourable places intersected by secondary north to northeast
trending faults identified in geophysical surveys and chargeability
zones identified along new induced polarization (IP)
surveys."
Geology of the Cariboo Mining District and the Wingdam
Trend
Omineca's NW striking Wingdam Trend shares similar lithology,
structure, and mirrors Osisko Developments' ("ODV") Cariboo Gold
and Lightning–Yanks Peak Trends both also striking NW,
approximately 20-30 kilometers east of Wingdam (See Map 1).
Omineca's lode gold exploration program targets several areas of
Riedel style strike-slip deformation along NW trending regional
faults initially identified by geophysics conducted in 2018/19 and
expanded along trend in the 2020 geophysics program. This
structural control pattern is indicative of those Riedel style
strike-slip deformation zones known to produce sub-vertical ore
shoots at the Cariboo Gold Project's gold deposits.
Skopos Target
The Skopos target is less than 500 meters south of Omineca's
Wingdam underground Paleoplacer crosscut location and along trend
with the historic Toop Mine along Mary Creek to the northwest and
with the Roadcut Gossan to the southeast. The Skopos target is at
an intersection of structural activity identified in the most
recent geophysics, coincident with elevated gold values in stream
sediment samples and arsenic along with gold in soil sampling grid
surveys across the area. Exploration programs at Skopos will be
targeting the identified structural fault zones and nose folds and
will include IP (Induced Polarization), stratigraphic drill holes
and a diamond drill program. The Skopos program is slated to begin
in the 2021/22 winter season and details will be announced once
initiated and finalized.
Mary Creek
The 2021 exploration program has identified Mary Creek as a
primary drill target. On trend with Wingdam and other targets
along the Eureka Thrust Fault, Mary Creek presents as an analogue
to Omineca's main Wingdam Project. Historic production of
autochthonous placer gold and limited sonic drill holes from the
Mary Creek area have been correlated with current work including
geophysical chargeability, resistivity and geochemical MMI programs
to reveal potential structures that could theoretically host the
lode gold source of the Mary Creek placer gold.
Roadcut Gossan
The Roadcut Gossan priority target is located approximately 11
kilometers south of Wingdam. The 2021 exploration program included
extensive geophysical, geochemical, and prospecting work. Although
on trend with Wingdam and other targets, the program geologists are
seeing the potential for sediment hosted gold targets in this area
analogous to the Spanish Mountain gold deposit located further on
trend to the southeast. Prospecting found abundant stockwork quartz
veins, blebby and disseminated pyrite, and intense oxidization
while soil sampling grids revealed high arsenic, copper, nickel,
zinc and 10-50 ppb gold. In addition to prospecting, IP and MMI
surveys were conducted over the target area with further results
pending. Exploration is budgeted to continue with follow-up work,
which will include diamond drilling later in 2022.
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.
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 Wingdam Property includes mineral
tenures totaling over 50,000 hectares (500 square kms) and more
than 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 a diamond drill program currently underway exploring for the
potential multiple hard rock sources of the placer gold at
Wingdam.
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