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.
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
