SASKATOON, Nov. 21, 2019 /CNW/ - Omineca Mining and Metals
Ltd. (TSX-V: OMM) ("Omineca" or the "Company") reports completion
of a pump-down test on its flagship Wingdam project, designed to
determine the success of the grouting program announced on
October 11, 2019. This test,
along with diminished recharge rates of water inflow since the
test, indicate that the Company has severed the link between the
current and historic underground workings at Wingdam. The test
further indicates that the project should benefit from an 85%
decrease in dewatering time. Additionally, all necessary work on
the settling ponds has been completed.
Omineca, along with its partners, are currently planning the
full dewatering program at Wingdam, along with rehabilitation
of underground workings from the 2012 bulk sample program. During
the rehabilitation phase, the Company will also install an
additional engineered grout plug to permanently seal the project
area from the historic workings upstream.
Omineca and its partners anticipate having the Wingdam Project
dewatered before the end of 2019.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd. controls a 100% interest in both
the flagship Wingdam Project and the Fraser Canyon Project, through
its wholly owned subsidiary CVG Mining Ltd. The 2700 ha Wingdam
Project is located 45 km east of Quesnel
B.C. on the Barkerville Highway. The property includes both
placer and hard-rock tenures along the Lightning Creek valley,
where topographic conditions created a thick overburden which
preserved a large portion of the channel from conventional surface
placer mining activity.
Qualified person
Dr. Stewart A. Jackson, PGeo, is a qualified person within
the context of National Instrument 43-101 and has prepared, read
and approved the technical aspects of this news release.
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.
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