Gold Fields may sell smaller mines after Osisko acquisition
The Johannesburg-based gold miner is shifting focus to advancing its new Salares Norte mine in Chile.
Omineca Mining and Metals (TSXV: OMM) announced Friday that it has staked an additional 36,000 hectares of mineral claims at Wingdam, British Columbia.
Omineca now holds 100% ownership of over 39,000 contiguous hectares at its Wingdam project, in addition to the placer claims comprising the Wingdam underground alluvial gold recovery project. Based on the explorer’s geophysical work from 2018-19 and the review of available geophysical data, Omineca said it has identified multiple targets for its 2020 lode gold exploration program.
The newly acquired claims significantly expands the inventory of target structures that will be subject to the upcoming exploration and drilling program
The geological similarities and location parallel to the multi-million ounce gold resource at Osisko Gold Royalties’ Cariboo gold project (formerly Barkerville Gold Mines) provides an exciting exploration opportunity, Omineca said in a press release.
The newly acquired claims significantly expands the inventory of target structures that will be subject to the upcoming exploration and drilling program at the Wingdam gold project. The program will specifically target disseminated gold mineralization within the phyllite bedrock units as well as gold associated with quartz veining found at Wingdam and the surrounding area, the company said.
At market close Friday, Omineca’s stock was up 50%. Shares had been traded 294,420 times, more than 20 times the average daily volume of 13,800. The company has a C$7.6 million market capitalization.
