Omineca Mining and Metals Ltd. (TSXV: OMM) (OTCQB: OMMSF) announced that its mining partner PSI Group has submitted an application to begin dewatering the Fraser Canyon underground paleoplacer gold recovery project, located 12 kilometers northwest of Quesnel, British Columbia. PSI is also preparing a Notice of Work submission that includes a long-term mine plan and engineered ground support management program. Once permits are in place, PSI plans to re-enter the underground workings and immediately begin mining unrecovered placer gold bearing material remaining between historic crosscuts.
PSI and Omineca have secured letters of full support from the Lhtako and Nazko First Nations, as well as from the City of Quesnel, for the project. The partners are committed to responsible development that creates ongoing benefits for local communities and the province.
PSI has begun preparatory work, including mine engineering and equipment procurement, and will use modern methods such as self-propelled roadheaders for continuous excavation and pre-sorting underground to expedite processing. Activities completed include a mechanistic structural design and 3-D stress-strain model of the workings, and development of advanced ground support systems with HMI Company. An archaeological assessment has also been conducted with Tracker GPS Survey & Mapping Ltd, and the protocol was shared with First Nations.
Historically, the Canyon and Tertiary Mines on the property produced 1,482 oz of raw placer gold up to 1986. In 1986, a 772-foot main drift with alternating crosscuts recovered 421.634 troy ounces of refined gold and 40.342 troy ounces of silver from 9,932 loose cubic yards of pay gravel over 51 processing days.
As Omineca's mining partner, PSI will fully fund all costs of the Fraser Canyon Project in return for a 75% share of recovered metals, with Omineca retaining a 25% carried interest.
Stephen Kocsis, P.Geo., an independent qualified person under NI 43-101, has approved the scientific and technical information in this release.
