Omineca Announces Restart of Mining Operations at Wingdam Underground Placer Gold Project
SASKATOON, SK, Jan. 15, 2024 /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) ("Omineca" or the "Company") is pleased to report the restart of underground mining operations at Wingdam. All the necessary equipment, consumables, ground support materials and staffing are onsite with mining activities underway as the Company's mining partner advances through bedrock towards channel crosscut #3.
Omineca further reports that it's former option partner, Hamilton Gold Royalties ("HGR") has completed its internal reorganization, resulting in its largest investor, D&L Mining ("D&L"), assuming HGR's position in the Option/Joint Venture arrangement for the development of Omineca's underground placer project subject to the same terms and conditions as with HGR. While the reorganization was being completed, D&L assumed control and has been maintaining the underground workings, keeping the project fully dewatered. During this time D&L also completed a comprehensive underground survey and geotechnical drilling to further confirm the course of the gold bearing paleochannel.
Omineca is very pleased to be working with the D&L mining team and its controlling shareholder Mr. David Dutcyvich. Staffed with a compliment of high-quality management, supervisory and mining professionals, Omineca has the utmost faith in D&L and the current path of project advancement.
D&L Mining was founded and backed by Mr. Dutcyvich, a renowned Western Canadian industrialist and the largest financial backer of the Omineca Option/Joint venture arrangement. A Vancouver Island businessman, Mr. Dutcyvich founded Lemare Lake Logging based out of Port MacNeil in 1984 and developed it into the largest contract logging company on Vancouver Island and third largest in British Columbia. Mr. Dutcyvich also founded the 3L Cattle Company, which, until it's recent sale, was one of the largest independent agricultural concerns in Saskatchewan with over 35,000 acres of mixed-use farmland under management.
Omineca and D&L look forward to providing further updates as the project continues to advance.
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
Tom MacNeill, President and CEO, 306-653-2692
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