SASKATOON, SK – May 19, 2021 – Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company"), reports that it has completed the Phase 1 lode gold exploration diamond drilling program at the Wingdam Project approximately 40 kilometers east of Quesnel in the Cariboo Mining District of British Columbia. The Company has completed 5,615 meters of drilling in 21 of 27 proposed drill holes of the program. Omineca also reports that it has changed assay labs and the remaining drill holes from Phase 1 have been moved into the Phase 2 drill program which has been expanded to 60 drill pads and is anticipated to begin in June this year.
The Phase 1 program was designed to define prospective areas within the expansive land package and encountered significant indicator mineralization in multiple holes. The mineralization included prospective zones of replacement pyrite with anomalous gold and arsenic values, lenses of semi-massive sphalerite (zinc), and polymetallic quartz carbonate veining hosting anomalous zinc, lead, copper, silver, and arsenic. Data from the oriented drill core has also advanced the understanding of the structural controls in these areas as well as identifying fold hinges, which may have potential to host Barkerville style gold mineralization. These initial drill results are showing the indications Omineca is looking for and warrant further follow-up exploration along identified trends.
Stephen Kocsis, Omineca lead geologist commented; “A replacement pyrite zone with anomalous gold values in the Barkerville Terrane was identified in two holes (WD20-02 and 21) drilled on the Wingdam Property. The zone contains the same style of mineralization as reported by Osisko Development Corp. in the Bonanza Ledge replacement pyrite deposit. The Bonanza Ledge Deposit is in the Barkerville Terrane as well roughly 30 km to the east. The confirmation of favourable lithology and structure needed to produce replacement-style and other types of mineralization along the western outskirts of the Barkerville Terrane is an important achievement. This has given me the confidence to recommend an aggressive follow-up exploration plan”.
In conjunction with the initial phase of exploration and drilling, Omineca applied for and received from the BC government a multi-area/multiyear drill permit expanding the program to 60 drill pads and extending the permit to a period of 5 years. Based on the results to date, the Company will initiate Phase 2 of the maiden drill program in June of 2021. The 2021 drill program will continue to focus on existing prospective horizons identified in the earlier exploration and drilling as well as newly identified geophysical anomalies believed to be associated with structures of interest along trend.
The 2021 summer exploration program will also include the investigation of structures identified by the recently completed, extensive triaxial magnetic survey, comprehensive geological mapping, prospecting, soil sampling, and a new stream sediment sampling program.
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.
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 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 a diamond drill program currently underway exploring for the potential multiple hard rock sources of the placer gold at Wingdam.
For further information, please contact:
President and CEO
1 (306) 653-2692
Vice President, Business Development
1 (604) 561-2821
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.
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