Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced in a news release it completed the required drilling to earn a 50% interest in CanAlaska Uranium's Mouse Mountain copper-gold project in British Columbia.
The option agreement calls for Omineca to conduct five diamond drill holes over 2,000 meters at the property, which it has done. The project is located 15 kilometers west of its own Wingdam gold project in British Columbia's Cariboo Mining District.
The maiden drill program Omineca conducted at Mouse Mountain tested several copper-gold targets, defined through previous exploration and induced polarization surveys, along a 1.5-kilometer-long zone.
Omineca explained that Mouse Mountain is an "alkalic Cu-Au porphyry project located in the prolific NW-SE trending Quesnel Terrane which is immediately adjacent (west of) the similarly trending Barkerville Terrane that hosts Omineca’s Wingdam Gold project. Located between the nearby Mt. Milligan and Mount Polley mines within the Quesnel Terrane, the project is centered on a large intrusive system with coppergold mineralization spread over an extensive area (over 1.5km along strike) associated with typical copper porphyry style alteration."
To fulfill the terms of the option agreement, Omineca must also issue CanAlaska 300,000 Omineca shares.[NLINSERT]
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her 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.
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 Mining and Metals, a company mentioned in this article.