February 2025: Status Update
Executive Summary:
Omega Gold Project Highlights
The Omega Gold Project represents a significant gold resource in British Columbia’s historic Cariboo region, with several key developments in 2024:
Resource Update
Recent drilling has confirmed exceptional high-grade alluvial gold deposits along the Eureka Thrust geological formation, with some samples yielding up to 200 g/t gold at shallow depths (5-12m).
Expanded Resource Potential
Updated technical reports indicate a potential alluvial resource of 9.9 million ounces in addition to the previously identified 3.9 million ounces in the 3065 collection.
Strategic Land Acquisition
Following expert recommendations, Omega has successfully acquired additional high-potential tenements contiguous with existing properties, expanding our footprint in gold-rich glacial till zones.
Production Timeline
Mining operations are scheduled to commence in May 2025, targeting high-grade zones that will generate immediate revenue while providing valuable operational insights.
Corporate Progress
The company continues to advance multiple exit strategy discussions, supported by favorable gold market conditions and new trading platform visibility through JP Jenkins with CREST facility.
This report details the geological foundation of our deposits, updated resource estimates, exploration strategy for 2025, and potential value creation for shareholders as we transition from exploration to production.
Strategic Project Location:
The Omega Gold Fields
The Omega project is a multi-million ounce gold resource spanning a vast land area in the historically famous Cariboo gold mining region in British Columbia, Canada. Canada is the 4th largest gold producer globally, and British Columbia is one of Canada’s top producing provinces.
The Project is approximately 37.8km east of Quesnel, a town of 10,000 people located in the Cariboo Mining District in east-central British Columbia, Canada. Travel from Vancouver to Quesnel is via the Trans-Canadian Highway Number 1 to Kamloops and then onto the Cariboo Highway Number 97, with a journey time of eight hours, Figure 2-1. Alternatively, Quesnel has daily flights to/from Vancouver and is also serviced by the tourist train “The Rocky Mountaineer”.
The Cariboo Gold Fields
Historic Mining District
Regional Setting
The project is located in the Cariboo Gold Field District in eastern British Columbia, Canada. This area is part of a mountain chain called the Canadian Cordillera. The mountains formed when different chunks of earth’s crust (called terranes) moved across the Pacific Ocean and eventually collided into North America about 180 million years ago. These collisions created a range of different rock types, pushed up into mountains. The process also created various mineral deposits, including gold.
The “Eureka Thrust”
The project sits between two major geological zones (the Intermontane and Omineca belts). More specifically, it’s located on what geologists call the “Eureka thrust” – an area where one section of earth’s crust was pushed over another. The project area may be connected to nearby ancient creek beds (paleo-channels) that are known to contain gold, such as Lightning Creek, Mary Creek, and Alice Creek. The deep structures in this area could host gold deposits that formed during mountain-building.
The Eureka Thrust
Geological Gateway to Gold
Local Geology
The project area is generally covered by thick glacial deposits up to 150 meters deep. Underneath this cover are two main rock types:
- To the west: dark phyllite rocks (a type of metamorphic rock) from the Quesnel terrane
- To the east: various metamorphic rocks like quartzite and schist from the Barkerville terrane
- Deep underground, the collision of these land masses created cracks and faults in the bedrock. Hot mineral-rich fluids could move up through these cracks eventually cooling and leaving behind gold deposits.
- Over millions of years, glaciers, rivers and streams eroded these gold deposits, carrying pieces of gold downstream and concentrating them in ancient river channels called paleo-channels.
“… Over millions of years, glaciers, rivers and streams eroded these gold deposits, carrying pieces of gold downstream and concentrating them in ancient river channels called paleo-channels …”
Glacial Legacy:
Formation of Rich Placer Deposits
During the last Ice Age two massive ice sheets met here – one flowing west from the Cariboo Mountains and another from the Coast Mountains. When these ice sheets collided, they created a massive wall of ice that flowed northward. What makes this interesting for gold deposits is that before this last big freeze, there were already ancient rivers carrying and depositing gold in their channels.
Three famous examples of these preserved channels are:
- Lighting Creek
- Mary Creek
- Alice Creek
The glaciers actually helped preserve these gold deposits by burying them under thick layers of material called “Glacial Till”, protecting them from further erosion. Nature created a protective blanket over these rich gold deposits. The Cariboo region is special for placer miners because of how the ice sheets affected gold distribution and preservation. The old river beds (called paleo-channels) can be up to 40 meters below today’s surface and they’re often filled with gold-rich gravels from before the ice age. Some of the richest deposits are found at the very bottom (bedrock) of these ancient channels.
Pay Layers: The highest grade gold is usually found in specific layers:
- Right on bedrock
- In the lowest gravel layers
- In preserved pre-glacial gravels
Because the glaciers covered these ancient channels with thick layers of till (glacial material), many rich deposits remain untouched or only partially mined by early miners who couldn’t reach the deeper layers with their old technology.
With the benefit of modern technology and improved mining and exploration methods, it has been possible for Omega to identify and test drill an exceptionally rich gold field, with potentially millions of ounces of gold within relatively easy reach.
“…. The 2024 drilling campaign in this area yielded exceptional results, with 9 out of 12 samples assayed at 30 g/t to 100 g/t and 3 samples assayed over 200 g/t ….”
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