Latest update March 13th, 2026 12:35 AM
Omai hires UK firm to update resource, economic assessment
(Kaieteur News) – Omai Gold Mines has engaged UK-firm SLR Consulting to deliver an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) for its gold project in Guyana.
The Canadian miner subsidiary, Avalon Gold Exploration Inc. is the 100-percent owner of the Omai Gold Project in Region Seven. Since its return to “mining-friendly” Guyana, Omai has revitalised the property, and embarked on an aggressive drilling campaign to rapidly expand the two orogenic gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusive-hosted Gilt Creek Deposit.
August 2025 Mineral Resource Estimate Results.
The latest resources estimate for the past-producing mine pegs it at 2.1 million ounces of gold. Last month, the company applied for environmental authorisation for the gold project. The upcoming PEA will be underpinned by a mine plan that incorporates the expanded Wenot open pit deposit and the adjacent Gilt Creek underground deposit. The updated MRE is expected in the first quarter of 2026, followed by the PEA in the second quarter.
SLR Consulting is an industry leader in mining advisory and technical services and has supported projects globally for more than 35 years. The company’s expertise and capabilities spans geology, resource estimation, engineering, metallurgy, mine waste, and environment. SLR also delivers end‑to‑end support across all stages of the mining life cycle.
Elaine Ellingham, President and Chief Executive Officer (CEO) commented: “These next steps will provide all stakeholders with a better understanding of the size and value potential of the Omai Project. Omai has already been identified as the largest gold project in Guyana following our much increased Mineral Resource Estimate announced just five months ago, in August last year. Since then, we had five drills turning until just before the holiday break in December. The additional drilling will contribute to the updated MRE which will form the base for the PEA. We anticipate that this upcoming Preliminary Economic Assessment will be transformational and will illuminate the pathway to development.”
Notably, three drills have commenced the 2026 drill programme. At Wenot Omai said the focus is to further test the limits of the deposit, including both east and west, and to commence upgrading the large Inferred MRE to Indicated. An August 2025 MRE outlined a 96% increase to the Wenot Gold Deposit to 970,000 ounces of gold (Indicated) and 3,717,000 ounces of gold (Inferred).
Moreover, the company also disclosed that drilling will continue to explore certain known gold occurrences for possible near-surface higher-grade satellite deposits. The Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 20052, ceasing operations when gold was below US$400 per ounce.
The company noted that the project site significantly benefits from existing infrastructure, including an on-site airstrip, and is connected by road to the two largest cities in Guyana, Georgetown and Linden.
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