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Omai launches deep drilling at Gilt Deposit
…as 50,000m exploration drive gains momentum
(Kaieteur News) – Omai Gold Mines Corp. has commenced deep-hole drilling at its Gilt Deposit as part of an aggressive 50,000-metre exploration programme at the historic Omai Gold Project in Region Seven (Cuyuni-Mazaruni).
The Canadian company announced on Monday that one of its five active drill rigs has begun testing the depth extension of the Gilt Deposit, while the remaining four rigs continue drilling at the Wenot Deposit to expand and upgrade mineral resources.
Since its return to Guyana’s mining sector in 2020, Omai through its subsidiary Avalon Gold Exploration Inc., has identified 2.5 million ounces of gold in the indicated category at the historic Omai Gold project. The company holds 100% interest in the project located in Region Seven. The property hosts two orogenic gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusion-hosted Gilt Deposit.
Omai Gold Mines’ Wenot Deposit
In the update, the Canadian firm said the other four rigs continue the drilling as part of the 50,000-meter drill programme at the Wenot deposit focusing on testing the limits of the deposit and to convert the large Inferred Mineral Resource Estimate (MRE) to the Indicated MRE category. Meanwhile, the company announced that the fifth drill rig is now testing the depth extension of the Gilt Deposit.
President & Chief Executive Officer (CEO) Elaine Ellingham commented, “The 50,000m drill programme at Omai is advancing quickly with the five drills turning. To date this year, 23,685m has been drilled…Multiple impressive drill intersections in the Dike Corridor continue to speak to the ongoing strength of this project. Further east of this area remains under-explored.”
In relation to deep drilling at the Gilt Deposit, Ellingham said, “We were on-site at Omai last week for the commencement of the deep hole into the Gilt Deposit. A newly arrived drill with rod-pulling-assist will allow this hole, targeting a 1200m+ depth, to advance more quickly.”
She further disclosed that work is also advancing on a Preliminary Economic Assessment (PEA), which is expected within six to eight weeks. The PEA will incorporate both the Wenot and Gilt deposits into a new mine plan. Ellingham noted that the April 2026, Mineral Resource Estimate (MRE) will form the basis for the upcoming PEA.
In April, the company announced an updated MRE for the overall gold project showing 400,000 ounces increase above the August 2025, MRE – bringing the project’s indicated MRE to 2.5 million ounces.
The updated MRE puts the Wenot Indicated MRE at 1,453,000 ounces, and the Wenot Inferred MRE at 3,999,000 ounces. 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.
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.
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