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Omineca Signs MOU To Fully Fund Fraser Canyon, The Company's Second Placer Gold Recovery and Exploration Project
(TheNewswire)   Omineca Mining and Metals Ltd. - Saskatoon, SK – TheNewswir...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"Omineca Signs MOU To Fully Fund Fraser Canyon, The Company's Second Placer Gold Recovery and Exploration Project\n(TheNewswire)\n \n\nOmineca Mining and Metals Ltd. - Saskatoon, SK – TheNewswire - March 9, 2026 (TSXV: OMM)\n(OTCQB: OMMSF) (“Omineca” or the “Company”) is pleased to\nannounce the signing of a Memorandum of Understanding (“MOU”) with\nPSI Group (“PSI”). As a strategic partner, PSI will fully fund all\ncosts associated with the exploration, development, engineering,\nmining, and operating capital and expenses of the Fraser Canyon\nProject, located 12 kilometers northwest of Quesnel, BC, in return for\na 75% share of recovered metals from placer operations, with Omineca\nretaining a 25% zero-cost carried interest.\n\n \n\nThe Fraser Canyon Property claims extend 11 kilometers\nalong the Fraser River encompassing a known, buried paleochannel that\ntrends south-southeast. Historically, up to 1986, the Canyon Mine (now\n“South Placer”) and the Tertiary Mine (now “North Placer”)\ncollectively produced 1,482 oz of raw placer gold (please see\n“Property” below).\n\n \n\nThe Strategic Partnership program plans will be\nannounced as they are finalized and include:\n\n \n\n\n\nData review, engineering and a submission of a Notice\nof Work (“NOW”) for permitting site preparation of South Placer\nand North Placer properties and an underground, 300 meter test mining\nbulk sample operation at South Placer. \n\n\n\nMethodology for the North Placer mining operations\nbased on knowledge gained at the South Placer trial mining program.\n \n\n\n\nFramework for longer term operations to mine both the\nNorth and South placer areas concurrently and to develop a formal mine\nplan submission to the ministry. \n\n\n\nA plan for investigating the underlying mineral claims\nfor potential lode gold occurrences including groundwork, sampling,\ngeophysics and exploration drilling. \n\n\n\n \n\nProperty Details:*\n\n\nThe Fraser Canyon Project is a large group of placer\nand mineral claims that parallel the Fraser River 12 kilometers north\nof and upstream from the city of Quesnel, BC. The claims are located\nalong the known location of deeply buried unconsolidated to weakly\ncemented ...