Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced in a news release it commenced field work at its Wingdam hardrock gold project in British Columbia's Cariboo mining district after completing an oversubscribed financing.
For this work, the Saskatoon, Saskatchewan-based exploration company appointed Stephen Kocsis as the lead geologist. "Based in Quesnel, BC, Mr. Kocsis has spent his career exploring for gold and other mineral deposits in the Cariboo Mining District and has authored numerous papers and technical reports covering the project area, including the Wingdam Property NI 43-101 Report (June 2012)," the company reported.
After the snow melted, Kocsis and the geological team from Axiom Exploration Group surveyed the initial places of interest at the Wingdam site to plan the 2020 exploration and drill program.
The program will consist of several activities. One is investigating and mapping localized structural controls to direct drilling. Another is underground sampling. Additionally, paleoplacer gold samples will be analyzed morphologically and geochemically to determine the rocks and structures from where the gold perhaps originated.
Access and logistics will be worked out for equipment and drill pads. Finally, drilling will be done, 27 core holes over 8,000 meters, once permits are in hand.
This drilling, intended to follow up on results of the maiden Wingdam exploration program, will target "the lode gold sources of the placer gold recovered from the underground paleochannel along Lightning Creek at Wingdam, British Columbia," the release noted. The areas where the northwest striking faults intersect the northeast trending faults, as identified on the 2018 magnetic survey, are a priority.
In May, Omineca closed an oversubscribed private placement, raising gross proceeds of approximately CA$1.5 million.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Omineca Mining and Metals. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Omineca Mining and Metals. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Omineca Mining and Metals, a company mentioned in this article.
