Omai announces new promising drill results

Dec 05, 2024 News

—to update 2M gold estimate early next year

Kaieteur News- Canada-based Omai Gold Mines Corp. on Wednesday announced another promising result from its drilling at the Wenot deposit gold project located in Region Seven (Cuyuni-Mazaruni) Guyana.

The company had stated that it is advancing its expansion plans for its gold project in Guyana. The new drill results had shown potential to increase gold production and extend the life of the Wenot mining pit.

Omai announces new promising drill results

Omai’s operation in Guyana (Omai Gold Mines photo)

In a statement the company said that it discovered wide sections of gold-rich rock, including a stretch of 68.7 meters with an average gold grade of 3.16 grams per tonne (g/t). Within this, a higher-grade zone of 6.65 g/t was found over 29.9 meters. Another drill hole revealed 45.5 meters with 4.57 g/t gold, including a remarkable 1.5-meter section with 77.71 g/t gold.

Elaine Ellingham, Omai’s President and Chief Executive Officer (CEO), said the results show the gold becomes more concentrated as they drill deeper. She added that these findings are a big step forward for the project, with plans for more drilling into early 2025.

Ellingham said, “drilling is expected to continue well into Q1 2025 and we remain on track for an updated Mineral Resource Estimate in Q1 2025, and an updated economic study is planned for Q2 2025. This is expected to include both an expanded Wenot deposit and the Gilt Creek deposit, which was not included in the 2024 Preliminary Economic Assessment.”

In February 2024, the Company announced an updated Mineral Resource Estimate2 of 2.0 million ounces of gold (Indicated) averaging 2.15 g/t Au plus 2.3 million ounces of gold (Inferred) averaging 2.26 g/t Au. The company holds a 100% interest in the gold project, which encompasses two gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusive-hosted Gilt Creek Deposit.

The results from the company’s first Preliminary Economic Assessment (PEA) for the Wenot Project revealed that the project is slated to yield over 142,000 ounces of gold annually over a 13-year mine life. At its peak, production is anticipated to soar to 184,000 ounces in a single year, with a total estimated production of 1,840,000 ounces of payable gold.

(Omai announces new promising drill results)

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gold, Guyana, Mining, Omai, Region Seven

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