Latest update April 16th, 2026 12:40 AM
Guyana gold pushes OMAI reserves to 2.5 million ounces
…gold find increased by 400,000 ounces in seven months
(Kaieteur News) – Within seven months, Canadian firm Omai Gold Mines Corp. has increased its indicated Mineral Resource Estimate (MRE) by 400,000 ounces of gold, bringing the company’s estimated resource base in Guyana to 2.5 million ounces.
Guyana’s mineral wealth continues to attract major foreign investment, with Omai among several Canadian mining companies collectively controlling millions of ounces of gold across various stages of development. These projects, spanning multiple mining regions, are advancing through exploration, feasibility studies, and permitting.
Cross-Section of Wenot Shear-Hosted Gold Deposit and Gilt Intrusion-Hosted Deposit
Omai holds full ownership of the historic Omai Gold Project in Region Seven (Cuyuni-Mazaruni) through its subsidiary, Avalon Gold Exploration Inc. Once a prolific producer from 1993 to 2005, the mine yielded 3.8 million ounces of gold during a period when prices were below US$400 per ounce. With gold prices now holding above US$4,500 per ounce, Omai’s 2.5 million ounces is valued at more than US$11 billion.
The updated MRE builds on the August 2025 estimate, which placed the property’s two orogenic gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusion-hosted Gilt Deposit at 2.1 million ounces in the indicated category.
The latest estimate reflects expansions at both deposits. The Wenot Indicated MRE increased by 49.8% to 1,453,000 ounces, while the Wenot Inferred MRE rose by 7.6% to 3,999,000 ounces. At the Gilt Deposit, the Inferred MRE surged by 120% to 1,465,000 ounces, although the Indicated MRE declined by 9.5% to 1,042,000 ounces. Overall, the updated MRE now estimates 2,495,000 ounces of gold in the indicated category an increase of 17.6% and 5,465,000 ounces in the inferred category.
Commenting on the increased gold estimate Omai’s President and Chief Executive Officer (CEO) Elaine Ellingham said, “We are pleased to be delivering yet another very substantial increase to the Mineral Resource Estimate for our Omai Gold Project in Guyana. This reinforces Omai’s position as the largest gold project in Guyana.”
OMAI’s President and CEO Elaine Ellingham
She highlighted the project’s strategic location, noting its road access just 10 kilometres from Guyana’s main transport corridor linking major towns and northern Brazil, which simplifies logistics as development progresses.
“Omai’s legacy benefits include an on-site airstrip, a cleared site, known metallurgical recoveries, and established tailings sites. In addition to these unique advantages for developing a large-scale gold deposit, Guyana is proving to be a favourable jurisdiction for permitting with Government and communities’ support for large-scale mine development,” she noted.
Ellingham said this marks the company’s fifth MRE since returning to Guyana’s mining sector, underscoring the project’s potential for large-scale development. She credited the project team for delivering consistent value growth. She added, “With each successive milestone it becomes even clearer that Omai has the potential to be a multi-decade gold mining operation.”
Despite the significant increase, she noted there remains strong potential to further expand mineralisation at both the Wenot and Gilt deposits. A 50,000-metre drilling programme is currently underway, with five rigs in operation.
The company’s next major milestone is a Preliminary Economic Assessment (PEA), expected within two to three months. “We are continuing to aggressively drill to increase the Mineral Resources and to upgrade the Inferred Resources, as we set our sights on a future Prefeasibility or Feasibility Study. Drilling is now focused on the Wenot deposit and on certain nearby targets,” she added.
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