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Omineca Completes Geophysical Surveys at Wingdam/Lightning Creek and Fraser Canyon Gold Projects
Omineca Completes Geophysical Surveys at Wingdam/Lightning Creek and Fraser Canyon Gold Projec...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"\nOmineca Completes Geophysical Surveys at Wingdam/Lightning Creek and Fraser Canyon Gold Projects\n\nOmineca Completes Geophysical Surveys at Wingdam/Lightning Creek and Fraser Canyon Gold Projects\nCranbrook, British Columbia CANADA, April 03, 2013 /FSC/ - Omineca Mining and Metals Ltd. (OMM - TSX Venture), is pleased to announce that it has recently completed geophysical surveys on the Wingdam/Lightning Creek and Fraser Canyon projects, located in the Cariboo Region of British Columbia near Quesnel. Omineca signed a Letter of Intent (\"LOI\") whereby OMM has the exclusive right to acquire all issued and outstanding shares of CVG Mining Ltd. (\"CVG\"), a private British Columbia corporation which controls a 100% interest in the two projects (see news release December 4, 2012). This Reverse Takeover (\"RTO\") transaction is expected to be voted on by shareholders in late May, 2013.\nThe geophysical survey was carried out by Ground Truth Exploration Inc. of Dawson City, Yukon and was designed to provide additional information with respect to sub-surface topography in under-explored areas of the two properties. The survey had two components, IP/Resistivity and Magnetometer. The IP/Resistivity survey was conducted using an array of fixed electrodes with a spacing of 5 meters. This configuration was used specifically to give an accurate profile of the buried gold-bearing placer channels on the two properties, as well as having sufficient depth penetration to effectively test the bedrock beneath the placer gravels. A total of 2425 meters of surveying was completed at Wingdam and 4400 meters at Fraser Canyon. As a component of the data collection, Ground Truth will be completing detailed interpretation and modeling on the geophysical data, with results pending.\nAbout the Wingdam/Lightning Creek Project \nThe 2700 ha Wingdam/Lightning Creek Project is located 35 km east of Quesnel, B.C., and provides a unique opportunity for Omineca to acquire near-term placer gold production in a proven mining district. The property overlies both placer and hard-rock tenures along the Deep Lead Channel of Lightning Creek, where topographic conditions have created a deep overburden accumulation which effectively resulted in a large portion of the channel being excluded from conventional surface placer mining activity. On the Wingdam property, drillin...