Omai Gold drills multiple gold zones at Omai Gold Project, Guyana
Omai Gold Mines Corp. [TSXV: OMG; OTCQB: OMGGF] reported results from 12 diamond drill holes (representing 6,913m) from the ongoing drill program at its 100%-owned Omai Gold Project in Guyana, South America. These holes tested multiple gold zones within the broad Wenot shear corridor, which extends along at least a 2.5km strike. The most significant results include 4.84 g/t gold over 38.4 metres and 12.57 g/t gold over 5.8 metres within the Dike Corridor in the central portion of the Wenot Deposit.
A total of 106 holes (representing 50,185m) have been completed to date in 2026. Significantly, of these 106 holes, 88 holes are subsequent to the Company’s most recently announced Mineral Resource Estimate (MRE) on April 14, 2026, which formed the basis of the Preliminary Economic Assessment (PEA) that was released on August 19, 2026. Current drilling will continue towards an updated Mineral Resource Estimate planned for Q1 2027. Assay results are pending for an additional 42 holes.
Highlights – Central Wenot Area: Hole 26ODD-204 returned 4.84 g/t Au over 38.4m, including 6.91 g/t Au over 18.3m and 7.90 g/t Au over 2.8m.
Hole 26ODD-200W returned 6.96 g/t Au over 5.2m, including 19.21 g/t Au over 1.6m and 0.73 g/t Au over 28.2m.
Hole 26ODD-207 returned 12.57 g/t Au over 5.8m, including 20.97 g/t Au over 3.3m and 2.56 g/t Au over 9.0m.
Hole 26ODD-203 returned 2.38 g/t Au over 23.9m, 1.44 g/t Au over 22.1m and 4.02 g/t Au over 7.6m.
Hole 26ODD-220 returned 1.78 g/t Au over 23.0m and 0.86 g/t Au over 32.5m.
Hole 26ODD-201 returned 1.13 g/t Au over 17.0m and 0.88 g/t Au over 19.5m.
West Wenot: Hole 26ODD-202 returned 2.78 g/t Au over 20.2m and 2.00 g/t Au over 7.5m, including 8.05 g/t Au over 1.4m and 1.15 g/t Au over 12.7m.
Hole 26ODD-206 returned 2.05 g/t Au over 20.8m, including 24.19 g/t Au over 1.0m, 9.43 g/t Au over 2.2m and 2.60 g/t Au over 10.2m.
Hole 26ODD-209 returned 15.21 g/t Au over 2.0m, 1.04 g/t Au over 26.0m and 2.31 g/t Au over 8.5m.
Hole 26ODD-211 returned 2.08 g/t Au over 12.6m.
East Wenot: Hole 26ODD-205 returned 0.71 g/t Au over 33.7m and 1.92 g/t Au over 6.4m.
Hole 26ODD-217 returned 1.03 g/t Au over 22.6m.
Elaine Ellingham, President & CEO comments: “We are pleased that the 2026 drilling at Omai is progressing rapidly to support the next milestones for the project. With six rigs active, we are targeting an updated Mineral Resource Estimate early in the new year. Five drills are focused on the Wenot deposit and the conversion of the large Inferred resource, while concurrently testing some of the additional mineralized zones and splays that have been encountered at Wenot along the flanks and along strike.
Focused drilling in late 2025 proved effective, both at expanding the Wenot resource and also upgrading over 480,000 ounces into the Indicated resource category, and we expect continued success with the current drilling. Wenot is a simple shear-hosted deposit without any notable folding or faulting; this is well evidenced by the deep hole 25ODD-122W that intersected the Wenot shear exactly as expected a full 700 metres below the known deposit. As such, we expect the additional drilling to continue to confirm continuity within the well-developed geological model.
The recent addition of the sixth drill allows us to step out onto some of the exploration targets elsewhere on the Omai property. We have commenced a series of 100-150 metres deep vertical holes on the BBH target located roughly 1 km northwest of Wenot, where trenching identified high-grade gold in a series of flat lying veins. The goal of the new drilling is to test the continuity of the higher grade, near surface mineralization that could positively impact the early years of the mine plan.
Plans are also in place for a hole to test the Boneyard area, an area distinguished by a distinctive low magnetic airborne geophysics signature, similar to that of the Gilt intrusion. Previous attempts were impeded by wet terrain, to a large degree related to historical artisanal mining over the target area. Both the Wenot and Gilt gold deposits have distinctive geophysical signatures and we plan to continue to test other similar anomalies. This 6th rig will also be used for geotechnical and condemnation drilling, in support of a feasibility study.
Following the robust PEA announced in August, we are executing on plans to advance work towards a feasibility study. Site visits later this month and in early December will establish the engineering and site studies. Favourable metallurgical test results earlier this year set the groundwork for the next phases which are underway at SGS Labs in Lakefield, Ontario to determine further plant optimizing parameters.
The Omai project has far exceeded our initial size expectations, with the recent PEA supporting an over 350,000 ounce per year operation over an 18 year mine life, for production of over 6.3 million ounces of gold1. Further, our deep drilling on both the Wenot and Gilt deposits to depths of 1200 metres suggests future potential for either a longer mine life or higher annual production levels, or both. The Omai geology has proven to be prolific for gold mineralization and provides the incentive to pursue exploration targets in the immediate vicinity.“
At the Wenot Deposit, each hole encountered multiple gold zones. For example, in central Wenot, hole 26ODD-204 intersected 16 discrete gold zones highlighted by 4.84 g/t Au over 38.4 metres including 6.91 g/t Au over 18.3 metres within the prolific Dike Corridor (Figure 3). Hole 26ODD-203, collared 225 metres east of hole 204 intersected 2.38 g/t Au over 23.9 metres within this same broad gold zone. An additional hole, 26ODD-207, collared a further 126 metres east of hole 203 but drilled from the south side of the deposit, intersected 13 gold mineralized zones with the highlights within the Dike Corridor being 12.57 g/t Au over 5.8 metres (including 20.97 g/t Au over 3.3m), 2.56 g/t Au over 9.0 metres and 1.54 g/t Au over 11.5 metres.
At the western end of the Wenot deposit, hole 26ODD-206 intersected 2.05 g/t Au over 20.8 metres within the quartz feldspar porphyry dike (CQFP) that occupies the central contact between the volcanic rock sequence to the north and the sedimentary rocks to the south. It also intersected six gold zones within the southern sediments, including 2.60 g/t Au over 10.2 metres, 9.43 g/t Au over 2.2 metres and 1.64 g/t Au over 9.3 metres.
Hole 26ODD-202, collared 87 metres west of hole 206 intersected 18 discrete gold zones. Highlights include narrow high-grade zones within the northern volcanics of 8.05 g/t Au over 1.4 metres and 7.10 g/t Au over 1.4 metres.
Most zones were within the southern sedimentary sequence, as is typical of West Wenot, with the best zones including 2.78 g/t Au over 20.2 metres, 1.69 g/t Au over 7.0 metres, 0.81 g/t Au over 17.0 metes, 5.17 g/t Au over 2.0 metres and 1.15 g/t Au over 12.7 metres.
In aggregate, the sediment-hosted gold zones in hole 202 meeting the economic cut-off grade set in the PEA (0.27 g/t Au) comprise 85.9 metres within 253.2 metres of core, representing 34%. This speaks to the robustness and extent of gold mineralization within the Wenot deposit, and within the sedimentary rocks at West Wenot.
Omai Gold Mines is focused on advancing the two orogenic gold deposits at its 100%-owned Omai Gold Project in mining-friendly Guyana, South America. The company has established the Omai Gold Project as one of the fastest growing and well-endowed gold camps in the prolific Guiana Shield.
Omai Gold announced a Preliminary Economic Assessment (PEA) in August 2026 that includes the large Wenot open pit deposit and the adjacent Gilt underground deposit. The PEA supports a mine plan to produce 6.3 million ounces of gold over an 18-year mine life. Average gold production is projected at 351,000 ounces per year.
At the $3,600/oz base case, this supports an after-tax NPV(5%) of US$4.0 billion. The PEA is based on a Mineral Resource Estimate2 of 2.5 million ounces Indicated averaging 2.04 g/t Au in 38.1 million tonnes and 5.5 million ounces Inferred averaging 1.59 g/t Au in 106.6 million tonnes.
Drilling is ongoing with six rigs. As a past-producer, Omai significantly benefits from both the historical record of economic gold extraction and the existing infrastructure including a cleared site, an on-site airstrip, a tailings facility, known metallurgy, and road connections to the two largest cities in Guyana, Georgetown and Linden.
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