Omai Gold Mines drills 708 metres averaging 1.06 g/t gold at Gilt Creek deposit, Guyana

Omai Gold Mines Corp. [TSXV: OMG; OTCQB: OMGGF] reported assay results from the company’s second hole drilled on the Gilt Creek gold deposit, one of two orogenic gold deposits at its 100%-owned Omai Gold Project in Guyana.

Hole 25ODD-122(w) drilled 708 meters of the Omai Stock, an intrusive rock unit that produced 2.4 million ounces of gold between 1993-2005 from the upper portion from surface to a vertical depth of approximately 250 metres. Hole 25ODD-122(w) was drilled from surface to a total depth of 2,014 metres with results previously report for the lower part of the hole that confirmed the presence of the adjacent Wenot deposit at a depth of approximately 1,200m, or 700m below the known Wenot gold mineralization.

Hole 122w showed that the Wenot shear at this depth hosted seven significant gold zones. The upper part of hole 122(w) was drilled from surface through a mafic volcanic sequence, then through the known diabase dike, and first intersected significant gold mineralization at a vertical depth of approximately 260 metres. Gold mineralization proved extensive throughout the Gilt Creek intrusion and extends into the surrounding volcanic rocks as well. A 708.1-metre interval in Hole 122(w) averaged 1.06 g/t gold with multiple intervals with higher grades and as highlighted below.

Highlighted higher grade zones from the upper part of hole 25ODD-122w include 1.06 g/t Au over 708.1m (from 364.9), including 1.78 g/t Au over 46.2m (from 635.6 downhole), including 4.88 g/t Au over 7.0m (from 566.3m); 1.32 g/t Au over 99.2m (from 702.0m),  including 5.7 g/t Au over 8.0m (from 766.9m); 3.10 g/t Au over 24.0m (from 395.5m); 1.99 g/t Au over 32.0m (from 462.0m); 2.98 g/t Au over 17.8m (from 643.8m) and 2.04 g/t Au over 43.2m (from 952.2m).

Elaine Ellingham, President & CEO, commented: “The much awaited results from Hole 122 further confirm the extent of gold mineralization within and beyond the known deposit. These assay results from the upper part of the 2,014-metre long hole show the robust and continuous nature of the gold-mineralized regime within the Gilt Creek quartz-diorite intrusive stock.

“This new hole, together with our earlier hole 095, provide valuable structural data for rock mechanics and material for metallurgical sampling, both that allow us to advance our mine plan for our upcoming updated Preliminary Economic Assessment (PEA) that will include the Gilt Creek deposit. Due to the extent of mineralization and abundance of visible (coarse) gold, all samples >0.5 g/t Au were also assayed using a metallic screening process that provides a more representative total grade than fire-assay on a 50g sample alone. The downside was the additional turnaround time.

“Mineralization in the Gilt Creek deposit first occurs just 46m downhole with 1.37 g/t Au over 7.5m in saprolite and ends at 2,014m with 3.61 g/t Au over 4.4m within less than 5m of the end of the hole in the adjacent Wenot deposit. This long hole across the two deposits exemplifies the sheer extent of gold mineralization on the Omai property.”

The Gilt Creek orogenic gold deposit is located less than 500 metres north of the Wenot deposit, which has been the focus of most of the company’s drilling and resource expansion, as Wenot is predominantly an open pit target. The Gilt Creek gold deposit is hosted mostly within the Omai quartz diorite stock, but gold zones also occur within the adjacent volcanic rocks.

The Gilt Creek gold deposit is a large 500m by 275m compact, intrusion-hosted orogenic gold deposit. It is located approximately 500m north of the Wenot gold deposit on the Omai property. The Mineral Resource Estimate (MRE) for Gilt Creek comprises Indicated Resources of 1,151,000 oz gold averaging 3.22 g/t Au in 11.1 million tonnes (Mt) and Inferred Resources of 665,000 oz gold averaging 3.35 g/t Au in 6.2 Mt, using a 1.5 g/t Au cutoff and a US$1,700/oz gold price.

Initial conceptual engineering studies anticipate a ramp from surface to access this deposit for underground mining. The very wide mineralized zones are likely amenable to sub-level open stoping and transverse open stoping, with follow-up cut-and-fill mining.

The upper portion of this Gilt Creek gold deposit was open pit mined between 1993 and 2005, producing 2.4 million ounces averaging 1.5 g/t Au. Continuation of this deposit at depth was confirmed by IAMGOLD Corp. in 2006-2007 with 46 drill holes totalling approximately 27,000m. This drilling showed gold mineralization down to a depth of 967m below surface, although only sparse drilling was completed to that depth.

Significantly, approximately 80% of the Gilt Creek gold Mineral Resource Estimate is relatively shallow, lying at vertical depths of between 280m and 600m. Limited drilling of the Omai intrusion below 600m continues to encounter gold mineralization, but with drilling too sparce to include in a resource. It provides evidence that gold mineralization within the Omai intrusion continues to greater depths, and Hole 122 drilled gold mineralization within the intrusion down to a vertical depth of 850m but laterally beyond the previously indicated limits.

Omai Gold Mines is focused on rapidly expanding the two orogenic gold deposits at its 100%-owned Omai Gold Project in 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.

In August 2025, the company announced a 96% increase to the Wenot Gold Deposit NI 43-101 Mineral Resource Estimate (MRE) to 970,000 oz gold (Indicated) averaging 1.46 g/t Au, contained in 20.7 Mt and 3,717,000 oz gold (Inferred MRE) averaging 1.82 g/t Au, contained in 63.4 Mt.

This brings the global MRE at Omai, including the Wenot and adjacent Gilt Creek deposits, to 2,121,000 oz gold (Indicated MRE) averaging 2.07 g/t Au in 31.9 Mt and 4,382,000 oz gold (Inferred MRE) averaging 1.95 g/t Au in 69.9 Mt. A baseline PEA announced in April 2024, contemplated an open pit-only development scenario and included less than 30% of the new Mineral Resource Estimate for Omai.

Five drills are active on the property: at Wenot the focus is to optimize the upcoming PEA, to further test the limits of the deposit, including both east and west, and to commence upgrading the large Inferred MRE to Indicated.

Additional drilling will continue to explore certain known gold occurrences for possible near-surface higher-grade satellite deposits. An updated PEA is planned for H1 2026 to include the expanded Wenot open pit deposit and the adjacent Gilt Creek underground deposit. The Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 2005, ceasing operations when gold was below US$400/oz.