SASKATOON, SK, Sept. 13, 2024 /CNW/ - Omineca Mining and
Metals Ltd. (TSXV: OMM) (OTCBB: OMMSF) ("Omineca" or the "Company")
is pleased to outline the fall lode gold exploration program
located in the Cariboo Mining District in south central
British Columbia. The exploration
program is aimed at locating the hard rock source of the rich
underground paleoplacer gold found beneath Lightning Creek at
Omineca's separate Wingdam underground placer joint venture project
(see recent JV update news release Sept 6,
2024). From previous year's groundwork and drilling, this
year's focus has narrowed substantially to a linear corridor along
the NW striking Eureka Thrust Fault, which is importantly located
downstream of the current underground placer workings at Wingdam.
The 2024 Phase 1 drill program consisting of approximately 3,000
meters in 8 diamond drill holes has now been initiated. The drill
rig has been mobilized to site with road access and drill pad
construction currently underway. The Company will announce further
details and updates once drilling commences.
Omineca has re-engaged TerraLogic Exploration of Cranbrook, BC to manage the exploration and
drilling programs for this year. Groundwork prospecting and 288
line kilometers of high-resolution drone magnetic surveying,
including interpretations and analysis, has been completed. The
drone survey was flown at tree top level along tightly spaced lines
over a focused 2km x 1km area covering the shear zone along the
Eureka Thrust Fault.
Management believes the reason discovery of a load source has
been illusive is due to the presumed depth of the gold system. The
gold mineralizing system may actually lie closer to the elevation
of the placer gold enriched paleochannel floor. The proximal
relationship is potentially analogous to the Shaft and Valley Zones
which were drilled up to 300 meters below the valley floor
elevation at Barkerville Gold Mines approximately 33 kilometers
east of Wingdam. The lode gold system may have been only
briefly eroded into the paleochannel by an interglacial stream
before being covered by glacial sediments and other sediments
during postglacial mass wasting events at which time the creek
valley floor rose to its current elevation 50 meters above the
paleochannel bedrock floor.
For this year's program, Omineca has selected drill pad
locations nearer to the bottom of the Lightning Creek Valley
(rather than higher elevations along mountain or hill side
locations) bringing the drill rig several hundred meters lower in
elevation and closer to any potential lode deposit system proximal
to the paleochannel floor.
2024 Focus Downstream of the Wingdam Placer Deposit
Omineca first tested upstream, as is standard practice with
placer source exploration, but has always entertained the idea that
the source may be downstream of the current placer gold
emplacement. This year's groundwork, along with previous
exploration and drilling, corroborates the idea of the placer gold
possibly being transported to the current upstream location though
a combination of historic stream capture and flow reversal along
with the movement of glacially transported sediments in a direction
opposite to the current flow of water along Lightning Creek. The
2024 drill pad locations have been targeted downstream of known
underground placer gold enrichment at Wingdam as well as at lower
elevations than drilled in previous programs.
Area of Focus on Trend with the Eureka Shear Zone
Rock sampling and drilling results from previous years show a
linear trend of gold mineralization adjacent to and possibly
affiliated with the NW trending Eureka Fault shear zone, which is
just downstream from the rich underground Wingdam placer gold
occurrences. The Eureka Thrust Fault lies on the western limb of
the Lightning Creek anticline, which exhibits a significant zone of
fault transpression (strike-slip deformation) and dilation
structures. The structures further support the potential for a
traditional hydrothermal orogenic gold system similar to that on
the opposite (eastern) limb of the Lightning Creek anticline at
Osisko Development's Barkerville Gold Project located 33 km east of
Wingdam. Historic placer gold exploration drilling also
supports this idea with gold mineralization in sulphides reported
in the bedrock beneath the gold bearing paleochannel a short
distance downstream from the Wingdam location and directly on
strike with Omineca's recently defined mineralized trend along the
fault. Additionally, Omineca's drill holes closest to the Eureka
Thrust Fault have shown the highest anomalous gold values which
further supports the thesis that the lode source or sources are
potentially affiliated with the fault.
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 projects are located along the
Barkerville Highway 45 km east of the City of Quesnel. The Wingdam Property includes
mineral tenures totaling over 61,392 hectares (613 square kms) and
in excess of 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 an exploration and 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 secure TSX Venture Exchange of the grant of options
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.
