Omineca Mining and Metals Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Omineca Mining and Metals' flagship Wingdam gold exploration and placer recovery project is located along the Barkerville Highway 45 kilometres east of the city of Quesnel, British Columbia. The Wingdam property includes mineral tenures totalling over 61,392 hectares (613 square km) and in excess of 15 linear km 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 under way exploring for the potential multiple hard rock sources of the placer gold at Wingdam.

FLAGSHIP PROJECT

Wingdam Gold Exploration and Placer Recovery Project, British Columbia
Underground Alluvial Gold Mining and Hard Rock Gold Exploration in the Historic Cariboo Mining District of British Columbia

Omineca’s aim is the commercial extraction the alluvial gold that has been trapped underneath a portion of Lightning Creek in south central British Columbia. Using a freeze technology to safely access the placer channel below the river, gold is extracted from the gold bearing gravels by wash plant and gravity separation using an existing, reusable water supply. No chemicals, no leaching, no mill, no waste or tailings.

The Wingdam Project encompasses 2.4 km of a rich, placer bearing channel buried 50 meters underneath Lightning Creek “containing some of the highest placer gold concentrations historically reported in all of the Cariboo mining district and perhaps British Columbia that remains un-mined” (Stephen Kocsis, P.Geo. NI 43-101 Wingdam Property Report; Oct 2, 2012)

In 2012, the Company successfully conducted a test bulk sample using this technique extracting 5.4 kilograms of raw placer gold from crosscut tunnel 2.4 meters wide and 24 meters long cutting across the gold bearing channel. Omineca’s plan is to continue this process along the entire 2.4 kilometers of the channel.

On March 2, 2023, Omineca reported that its Joint Venture partner, Hamilton Gold Royalties (“HGR”), and mining contractor Fortis Mining Engineering and Manufacturing (“Fortis”) have successfully entered the placer gold bearing paleochannel at the Wingdam underground project. Fortis reported that they are seeing placer gold in the paleochannel gravels similar in character and size to the gold recovered in the 2012 bulk sample.

On June 21, 2023, Omineca reported that its Joint Venture partner, Hamilton Gold Royalties (“HGR”) has successfully extended the haulage drift and completed the access drift for the 3rd crosscut into the placer gold bearing paleochannel. Crews drilled several pilot/test holes ahead into the channel at the #3 crosscut heading, several feet above the channel floor encountering gravels and clay material with visible placer gold. HGR has also processed waste rock material from the haulage/access drifting approaching the crosscut heading #2 recovering approximately 11 ounces of coarse placer gold flakes resembling the placer gold from the 2012 crosscut and a 1.13-ounce nugget. The results of this initial excavation exceed those of the entrance to the paleochannel in the 2012 bulk sample test.

Of particular significance, the large 1.13 oz gold nugget recovered at the #2 crosscut exhibits size and dimensional characteristics of very low transport distance from source and provided a welcome surprise, given its recovery from the very beginning edge of the gold bearing paleochannel. The nugget is larger than any produced in the 2012 bulk sample and further demonstrates the extremely coarse nature of the Wingdam deposit. The processed waste rock material (approximately 50 cubic yards) was recovered approaching the entrance to crosscut #2 where the drift transitioned from bedrock to fault gouge and into a limited amount of the paleo gravels upon entering the paleochannel. Of the 11 ounces recovered, 9.9 ounces were recovered from approximately 20 cubic yards of the material within the first 2 meters of advance into the channel gravels, still above the channel floor.

The mine has been kept fully dewatered and is ready to recommence mining. Once operations resume, the miners plan to break through into the channel at both crosscut headings 2 and 3 and continue on through to the center of the channel.

Omineca’s ongoing diamond drill program to explore the potential multiple hard rock sources of the placer gold at Wingdam is fully funded.

On March 23, 2023, Omineca announced closing of upsized $3.2 Million brokered financing. The gross proceeds from the offering will be used for exploration expenses on the Wingdam project.

Management

Management and Directors

Tom MacNeill, CPA, CGA, CFA, President and Chief Executive Officer, Director

President, Chief Executive Officer and a director of 49 North Resources Inc.

Chairman of the Board and director of FNR Energy Inc. and FNR Energy II Inc. and FNR Energy III Inc.

Over 25 years of experience in resource investment and corporate finance including:

General manager of BEC International Corporation

Investment Advisor with Pemberton Securities

Management Accountant within Mining Industry

Chief Financial Officer of Pacific Western Trust

Andrew Davidson, BComm, CPA, Chief Financial Officer and Director

Has held management and directorship roles in several TSX Venture listed mining and oil and gas companies over his 10+ year career.

During that period, he has assisted those companies in successful capital raises and M&A transactions totalling over $50 million.

Sylvain Laberge, Director

President & CEO, Gespeg Copper Resources (TSXV: GCR)

Vice President, Renmark Financial Communication

Founder S.D.N.L. Financial Communication

Dean Nawata, Vice President, Business Development

Over 20 years of business experience in the natural resources sector and capital markets, holding executive and board positions of several resource exploration companies.

Over 18 years of public market experience, nine of which he spent as a licensed stockbroker focusing on financing of junior mining and oil/gas projects with Nesbitt Burns, Research Capital Corporation, and Raymond James.

Former Vice President of Barkerville Gold Mines (now Osisko Gold Royalties), a gold exploration and production company located 40 km from Omineca's Wingdam Project, Mr. Nawata oversaw critical aspects of that company's transitioning from a gold explorer to a gold producer.

News Update

On February 07, 2024, Omineca Mining and Metals Ltd. has released the results from two geotechnical holes drilled on the company's Wingdam property, located in south-central British Columbia. D&L Mining ("D&L") drilled the two holes, WD23-RC01 and WD23-RC02 ("23-01" and "23-02") in conjunction with a comprehensive underground survey to confirm seismic data and further define the underground placer gold bearing paleochannel at Wingdam in advance of recommencing underground activities on the project (see news release of January 15, 2024 ). Of note, drill hole 23-02 (see tables below) recorded 8 vertical meters of gold bearing gravels above the underground channel floor, yielding an average of 25.41 g/m3 (0.82 oz/m3) of placer gold.

These drill results are very exciting given that the 2012 bulk sample test recovered 173.4 ounces of placer gold from an enriched zone of gold bearing gravels averaging only 1.20 meters in excavated thickness over a crosscutting channel width of 23.5 meters. The results confirm seismic survey data indicating a significant bedrock depression beginning just downstream of the 2012 crosscut and reaching its lowest point approximately 75 meters further on (see seismic reflection Map 1. below). In this area (lowest points in dark blue) the depressed section of paleochannel appears to be approximately 40 meters wide with an area of lower elevation extending both up and downstream over a distance of 80 meters. This depression is one of five suggested by the seismic data over the first 300 meters of paleochannel.

On January 15, 2024, Omineca Mining and Metals Ltd. has restarted underground mining operations at Wingdam. All the necessary equipment, consumables, ground support materials and staffing are on site, with mining activities under way as the company's mining partner advances through bedrock toward channel crosscut No. 3.

Omineca further reports that its former option partner, Hamilton Gold Royalties (HGR) has completed its internal reorganization, resulting in its largest investor, D&L Mining, 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, David Dutcyvich. Staffed with a complement of high-quality management, supervisory and mining professionals, Omineca has the utmost faith in D&L and the current path of project advancement.

On September 27, 2023, Omineca Mining and Metals Ltd. has granted 5.5 million stock options pursuant to its stock option plan. Two million five hundred thousand of the options were granted to directors and executive officers, with the balance granted to consultants. The options are exercisable at seven cents per share and, if not exercised, expire Sept. 27, 2028, subject to earlier expiration in accordance with the stock option plan and the applicable policies of the TSX Venture Exchange.

On September 21, 2023, Omineca Mining and Metals Ltd. has completed its summer 2023 field program for the Wingdam exploration project, located in the Cariboo mining district of south-central British Columbia. Omineca contracted TerraLogic Exploration of Cranbrook, B.C., to conduct extensive portions of the program, which included soil geochemical sampling, MMI (mobile metal ion) sampling/analysis, rock geochemical sampling and geological mapping. The summer exploration program was specifically aimed at following up on anomalous gold mineralization encountered in last year's drill program on the Skopos target. This summer's program has expanded a favourable mineralized trend extending from previous drill results near Wingdam Lake in 2020, through last year's drilling on Skopos and now across Lightning Creek north to the Ramos Creek area. This northwest mineralized trend now extends approximately 2,000 metres running parallel to and possibly affiliated with the Eureka thrust fault, correlating directly with previous geophysical program data. Details of a coming diamond drill program will be announced as summer results are received and drill plans finalized.

June 21, 2023, Omineca Provides an Update on its Placer Gold Project at Wingdam

finaljune_21_2023_omm_update.pdf

March 23, 2023, Omineca Announces Closing of Upsized $3.2 Million Brokered Financing

omineca-announces-closing-of-upsized-3.2-million-brokered-financing

March 2, 2023, Omineca Successfully Enters Placer Gold Paleochannel at Wingdam

omineca-successfully-enters-placer-gold-paleochannel-at-wingdam/

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