Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Explorer Begins Dewatering and Decline Rehab Operations at Flagship Gold Property
News Update

Share on Stocktwits


Omineca Mining and Metals Ltd. reported it has commenced dewatering at its Wingdam underground placer gold project located in B.C.'s Cariboo Mining District.

In a news release, Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced that "it has commenced dewatering and decline rehabilitation activities at its underground placer gold project at Wingdam in the Cariboo Mining District of south-central British Columbia."

The firm indicated that it recently installed a second temporary grout plug to prevent excess water from seeping in from older workings, which has dramatically improved the drawdown rate, and which in turn should significantly reduce dewatering time. The company stated that to prepare for the start-up of bulk sample operations, it has also moved forward with the required rehabilitation work in the existing decline and workings, which involves installing a permanent engineered grout plug, ventilation, heating and electrical infrastructure.

Omineca Mining and Metals advised that its 2020/2021 bulk sampling program will be implemented with the goal of continuing the successful bulk sample program that was initiated in 2012. The company explained that the 2012 program was structured around using "ground freeze technology to recover 173.4 oz of placer gold from a single, 2.4m x 2.4m x 24m long drift across the gold-bearing paleochannel located approximately 50m beneath Lightning Creek." The firm pointed out that during the first phase of the current bulk sample program it will concentrate on the first 300 meters of the paleochannel.

The company stated that the Wingdam gold exploration and placer recovery project is its flagship asset located about 45 km east of the town of Quesnel. The firm noted that the property includes hard-rock tenures totaling over 50,000 hectares along with greater than 15 linear kilometers of placer claims that both encompass the Lightning Creek valley. The company added that the valley is home to a thick overburden that preserved a large portion of an underground channel with placer gold-bearing gravels.


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his 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 decision to publish an article until three business days after the publication of the 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.

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Resources Report Newsletter Free and be the first to know!

A valid email address is required to subscribe