Omineca Mining advances on B.C. copper assays
Omineca Mining and Metals Ltd. [OMM-TSXV; OMMSF-OTC] on Thursday May 20 released results from a recent 2,000-metre drill campaign at the Mouse Mountain Project, located approximately 15 km west of the company’s Wingdam gold project in the Cariboo mining district of south-central British Columbia.
Highlights include drill hole MM21-04, which returned 12 meters of 0.156% copper, followed by 28 metres of 0.104% copper and a separate 3.2-metre interval in monzonite assaying 0.428% copper.
Omineca shares advanced on the news, rising 3% to 17 cents on volume of 519,080. The shares are currently trading in a 52-week range of 75 cents and 14.5 cents.
The 2,000-metre program intersected extensive sulphide mineralization in volcanic breccias interspersed with intrusive monzonite and monzonite breccias on the south west and south sides of Mouse Mountain. This is approximately 1.0 km south of the mineralization at the Valentine Zone and 2.0 km south of the Rainbow Zone mineralization.
Planning for a follow-up drill program based on these results will be announced when finalized, the company said.
Omenica has earned a 50% interest in the Mouse Mountain property and with report filing will have formed a joint venture with CanAlaska Uranium Ltd. [CVV-TSXV; CVVUF-OTCQB; DH7N-FSE].
CanAlaska is a uranium exploration company with a large land position in Saskatchewan’s Athabasca Basin. Its flagship property is the West McArthur Project on the eastern side of the Athabasca Basin, adjacent to Cameco Corp.‘s [CCO-TSX, CCJ-NYSE] McArthur River mine.
“The property lies within a major trend of Tier 1 porphyry copper and gold deposits and is located close to established infrastructure,” said CanAlaska President Peter Dasler. “The current drill program has allowed a better interpretation of stratigraphy at Mouse Mountain, and the continuity of the mineralized monzonite and monzonite breccias,” he said. “We are looking forward to working with Omineca to advance the new discovery using this information.”
Mouse Mountain is within the prolific Quesnel Terrane, a major regional mineral belt that hosts alkaline and calc-alkaline porphyry copper-gold-molybdenum deposits. The Quesnel terrane extends for 2,000 km northward from the Canada-U.S. border and hosts among the province’s largest copper mining operations, including the Gibraltar, Mount Milligan and Copper Mountain mines.