Omai targets upgrade of nearly 4M ounces gold resources at Wenot pit

May 18, 2026 News

(Kaieteur News) – With 2.5M ounces of gold in the indicated category for its gold project in Guyana, Canadian company Omai Gold Mines Corp. is on a drill campaign aimed at upgrading 3.9M ounces inferred resources from one of the gold deposits into the indicated category.

For those unfamiliar, an “Inferred Resource” is one that is based on limited sampling and is based on reasonably assumed, but limited information, while an “Indicated Resource” is a Resource whose quantity, grade (quality), shape, size and continuity can be more confidently reported.

Omai targets upgrade of nearly 4M ounces gold resources at Wenot pit

Omai’s President and Chief Executive Officer (CEO), Elaine Ellingham

Omai holds full ownership of the historic Omai Gold Project located in Region Seven (Cuyuni-Mazaruni) through its subsidiary, Avalon Gold Exploration Inc. The property host two orogenic gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusion-hosted Gilt Deposit.

Earlier this year, Omai commenced a 50,000-meter drill programme at the Wenot deposit focusing on testing the limits of the deposit and to convert the large Inferred MRE to Indicated MRE.

In the latest update on the drill programme, Omai announced results from seven additional drill holes at the Wenot pit. “All Wenot drill holes intersected multiple zones of gold mineralisation. The objective of these holes and the ongoing 50,000m drill programme is to fill gaps within the broader Wenot deposit’s new constraining pit, to convert mineralised material into the higher confidence level, and to provide further testing of the limits of the Wenot gold system,” the company said.

Omai’s President and Chief Executive Officer (CEO), Elaine Ellingham commenting on the new results said, “The 50,000m drill programme at Omai is well underway with five drills turning.”

Omai’s proposed deep hole at the Gilt deposit.

In April 2026, the company announced an updated Mineral Resource Estimate (MRE) for the overall gold project showing 400,000 ounces increase above the August 2025, MRE – bringing the project’s indicated MRE to 2.5M ounces.

The updated MRE puts the Wenot Indicated MRE at 1,453,000 ounces, and the Wenot Inferred MRE at 3,999,000 ounces. Ellingham noted that the drill results will continue to focus on upgrading the large inferred MRE at the Wenot deposit to Indicated MRE. “At the same time, we will continue to drill certain nearby targets that are either geophysics targets or will further test the extent of Wenot,” she added.

Regarding the Gilt underground deposit, Ellingham announced that Omai will be commencing another deep hole to test the long-term potential. She said, “This time, we are planning a steep hole into our Gilt intrusion-hosted gold deposit to explore its depth potential. Historical drilling reached down to a 965 meters depth with a single hole, and we are targeting a hole in the 1.2 to 1.5 kilometers range, depending on results.”

According to Ellingham, deeper holes can present challenges. However, she explained that in 2025 the Omai team and drillers from Orbit Garant were able to drill a 2,014 meters drill hole that intersected the Wenot deposit at a vertical depth of approximately 1,200 meters, which is 700 meters below the known Wenot deposit. “These deep holes can provide an indication of the potential at depth and potential for an extended mine life,” she added.

At the Gilt Deposit, the Inferred MRE stands at 1,465,000 ounces, and its Indicated MRE is now at 1,042,000 ounces. Overall, Omai’s updated MRE estimates 2,495,000 ounces of gold in the indicated category and 5,465,000 ounces in the inferred category.

Moreover, Omai said its independent consultants, SLR Consulting (Canada) Ltd. continue to advance on the various components of an updated Preliminary Economic Assessment (PEA) which will include a larger mine plan to incorporate the Gilt underground deposit and the expanded Wenot super pit. The PEA is anticipated to be completed by the third quarter of 2026.

The company also disclosed that it is advancing on the permitting front, by working through the final review of the terms and scope of an Environmental Impact Assessment (EIA) with the Environmental Protection Agency (EPA).

The Omai Gold Mine produced over 3.7M ounces of gold from 1993 to 2005, ceasing operations when gold was below US$400 per ounce. The Omai 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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Gold Mining, Omai, Omai Gold Mines Corp, Omai Gold Project, Wenot pit

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