Omineca Mining and Metals Ltd. Announces the Commencement of Dewatering at Wingdam
SASKATOON, Dec. 10, 2020 - Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), announces that it has commenced dewatering and decline rehabilitation activities at the Company's underground placer gold project at Wingdam in the Cariboo Mining District of south-central British Columbia. Having recently completed the installation of a second temporary grout plug to further limit excess waterflow from older workings, dewatering is displaying a dramatically improved drawdown rate which should result in a significant reduction in dewatering time. Concurrent with dewatering the Company has begun the rehabilitation required in the existing decline and workings which will include the installation of a permanent engineered grout plug as well as ventilation, heating and electrical infrastructure in preparation for the bulk sample operations to begin. The 2020/2021 bulk sampling program is designed to continue the successful bulk sample program initiated in 2012. The 2012 program utilized ground freeze technology to recover 173.4 ounces of placer gold from a single, 2.4m x 2.4m x 24m long drift across the gold-bearing paleochannel located ~50m beneath Lightning Creek. This initial phase of the bulk sample program will run along the first 300 meters 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 town of Quesnel. The property includes hard-rock tenures totaling over 50,000 hectares (500 square kms) and in excess of 15 linear kilometers of placer claims, both encompassing the Lightning Creek valley where topographic conditions created a thick overburden which preserved a large portion of an underground channel with 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.
Contact
Tom MacNeill, President and CEO, 1 (306) 653-2692; Dean Nawata, Vice President, Business Development, 1 (604) 561-2821, dean@fnr.ca
