Omineca Announces Filing of Updated Technical Report for the Wingdam Property
Cranbrook, BC; 24 August, 2016: Omineca Mining and Metals Ltd. (“Omineca” or “the Company”) (TSX-V:OMM) reports that further to its News Release of March 15, 2016, it has filed on SEDAR a Technical Report in accordance with National Instrument 43-101 (“NI 43-101”) dated July 27, 2016 and titled Technical Report on the Wingdam Property.
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 has left a deep paleo-channel containing undisturbed gold-bearing gravels. On the Wingdam property, drilling and previous geophysical surveys indicate that the paleo-channel may occur throughout the entire 2.4km length of the Wingdam placer tenures, extending upstream and downstream an undetermined distance. Numerous attempts have been made to mine the paleo-channel at Wingdam since the late 1880s, but all were hampered by an influx of water and unstable ground conditions and were ultimately abandoned.
Omineca intends to utilize recent technological advances in mining to unlock the value of the Wingdam placer gold. The Wingdam project received final permitting in January, 2015 to carry out a bulk sample of the gold bearing Deep Lead Channel along a 300m drift length.
The abundance and physical nature of the placer gold recovered in a bulk-sample extracted by CVG Mining Ltd. in 2012 indicates that it is in part, locally derived. Little or no systematic exploration work has been carried out on the property to test for the occurrence of lode gold, leaving excellent potential for the exploration and possible discovery of in-situ (hard-rock) gold mineralization in addition to the presence of a proven placer deposit.
C.C. Downie, P.Geo., has reviewed and approved the technical content of this news release and is hereby identified as the “Qualified Person” under NI 43-101.
On behalf of the Board of Directors
“Charles C. Downie” P.Geo.
Cautionary Note Regarding Forward-Looking Statements
Neither the 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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.