Omai Gold drills 6 metres of 16.8 g/t gold at Omai project, Guyana

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Omai Gold Mines Corp. [OMG-TSXV] reported additional results from the drilling program under way to test below the past-producing Wenot pit at the Omai gold project in Guyana. All 15 holes completed this year, testing the depth extension of Wenot, successfully intersected multiple near-vertical gold mineralized shears along a 1.55-km strike.

Hole 21ODD-020 (section 304600E) best intersections include 22.05 g/t gold over 1.7 metres, 5.28 g/t over 2.7 metres and 3.33 g/t over 4.4 metres. Hole 21ODD-021 (section 305400E) best intersections include 5.16 g/t gold over 8.4 metres, 5 g/t over 6 metres, 1.46 g/t over 11 metres with nearby 1.03 g/t over 5 metres.

Hole 21ODD-022 (section 304750E) best intersections include 16.77 g/t gold over 6 metres, 1.97 g/t over 16.7 metres, and 4.63 g/t over 20 metres. Hole 21ODD-023 (section 305928E) best intersections include 3.3 g/t gold over 14.1 metres, 2.96 g/t over 6 metres and 0.82 g/t over 22 metres.

Elaine Ellingham, CEO, commented: “With over 35 years in exploration, I truly appreciate projects like Omai with great potential for significant discoveries. The additional strong results released today, further support our work toward an initial NI 43-101 resource at Wenot. With our independent qualified person (QP) commencing shortly, our team will be freed up to focus on the exploration plans through to mid-2022. There are a number of very prospective targets for additional gold deposits on the Omai property, for example at Fennell, with an unmined historic resource. We also see several exploration targets that hold potential for significant near-surface gold deposits that could accelerate the overall development of the project. We will be initiating work on these other exploration targets starting in November and on Fennell early in the new year.”

The current drill program began in February, with the primary objective of evaluating the potential for a significant gold deposit under the Wenot pit. This 1.7 km by 0.5 km pit produced approximately 1.4 million ounces of gold averaging 1.5 g/t gold between 1993 and 2002. Some previous drill holes had tested below the pit bottom during the historical evaluation of Wenot, providing indications that mineralization continued at depth.

Fifteen holes have been completed this year under the Wenot pit, with one hole currently in progress (21ODD-026). Assays for holes 21ODD-024 and 025 are pending.

A full assessment of the additional exploration targets on the property has commenced, to develop a comprehensive exploration plan that will extend into mid-2022. Several targets are drill ready and others will benefit from some selective trenching, mapping and sampling. Fennell, which has an unmined historic resource, will be one area of focus for exploration in the new year. However, there are additional targets and target areas that hold potential for developing near-term, near-surface open pit deposits that could accelerate the overall development of the project. Additional details on the next phase of exploration will follow shortly.

Omai Gold Mines, through a subsidiary, holds a 100% interest in the Omai prospecting licence covering 4,590 acres (18.575 km2), that includes the past-producing Omai gold mine. Once South America’s largest-producing gold mine, Omai produced over 3.8 million ounces of gold between 1993 and 2005.

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