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Omineca Mining and Metals Ltd.
Summary
| Project: | Wingdam | |
|---|---|---|
| Deposit: | Wingdam | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/23/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-8-2016: Omineca Mining and Metals Ltd. announces a Supporting Acquisition report for its Wingdam deposit at the Wingdam project. Amended report - summary of Wingdam property in support of acquisition. The authors have been retained by Omineca Mining an | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Kenwood, Iain Weir-Jones (Independent) | |
| ABSTRACT: | The authors have been retained by Omineca Mining and Metals Inc. (“Omineca” or the Company”) to prepare a NI 43-101 compliant Technical Report for the Wingdam Property, which is located in the Cariboo Mining District in central British Columbia. This report will serve to update Omineca’s SEDAR disclosure record and was prepared under applicable NI 43-101 guidelines. Omineca Mining and Metals Inc. is a publicly traded company listed on the TSX Venture Exchange (OMM.V). The Company was created in 2011 when Novagold Resources Ltd. acquired by way of a Plan of Arrangement all of the outstanding shares of Copper Canyon Resources Ltd. Under the terms of the arrangement, a spin out company was formed, Omineca Mining and Metals Inc. Two of Copper Canyon’s projects, Abo (Harrison) Gold and Kiwi, were transferred into Omineca and the other project, Copper Canyon, was transferred to Novagold. On October 16, 2013 Omineca announced the successful completion of the acquisition of CVG Mining Ltd. through a reverse take-over (“RTO”) transaction. Shareholder approval for the arrangement was received at the company’s AGM on September 5th, 2013. The primary asset held by CVG was a 100% interest in the Wingdam Gold Project. Under terms of the Agreement, Omineca issued 47,471,548 common shares to CVG Mining Ltd. at a deemed price of $0.35/share, representing a purchase price of $16,615,041 and issued a $5,400,000 convertible debenture in connection with the assumption by Omineca of certain debt related to the property. | |
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