Omai Gold Mines drills Gilt Creek deposit, Omai Gold Project, Guyana
Omai Gold Mines Corp. [TSXV: OMG; OTCQB: OMGGF] reported assay results from the first hole (24ODD-095) drilled at the Gilt Creek gold deposit, one of two orogenic gold deposits at its 100%-owned Omai Gold Project in Guyana.
This hole intersected 774 metres of the targeted gold mineralized Omai Stock, an intrusive rock unit that produced 2.4 million ounces of gold between 1993-2005. The hole also expands the known Omai Stock a further 200m laterally beyond the previously drilled limit and still ended within the intrusion. This is the first completed drill hole at Gilt Creek since the lower deposit was outlined in 2006-2007 with a drill campaign of 46 holes totalling approximately 27,000 metres. A second hole is planned for Gilt Creek.
Highlights from hole 24ODD-095: The extent of the gold mineralization stands out: the 774m length of the quartz diorite intrusion averaged 1.0 g/t Au; 2.00 g/t Au over 64.0m, including 5.79 g/t Au over 9.0m and including 2.68 g/t Au over 12.5m; 1.90 g/t Au over 48.0m, including 4.19 g/t Au over 7.5m and including 2.47 g/t Au over 10.5m; 2.14 g/t Au over 37.5m, including 2.62 g/t Au over 24.2m and 198.3m of the higher-grade intervals (not continuous) are over 1.5 g/t Au and give a weighted average grade of 2.78 g/t Au.
Intersected mineralization first at a vertical depth of 225m within pyrrhotite-rich volcanics, assaying 2.0 g/t Au over 10.5m and 1.59 g/t Au over 7.5m below the diabase dike.
Extended gold mineralization approximately 200m laterally to the southwest, to a vertical depth of 850m in an area with no prior drilling; 38 separate occurrences of visible gold between 442m and 1,139m.
Elaine Ellingham, President & CEO, commented: “In addition to our recent drill results that show strong potential to expand the Wenot resource, the Gilt Creek underground deposit is a major growth lever at the Omai Gold Project. Core samples from this hole will be used to advance metallurgical test work, augmenting data from the historical production. This drilling also assists the underground mine design and planning to incorporate Gilt Creek into an updated PEA anticipated in Q3 of this year, which we expect will significantly enhance the production profile, mine life, and overall economics of the combined Omai Gold Project.
“Hole 95 was the first drill hole completed at Gilt Creek since 2007. It successfully intersected a very significant 774m interval of the Gilt Creek intrusion, the majority of which hosts gold mineralization including 38 separate occurrences of visible gold. Additionally, the hole extends gold mineralization approximately 200m to the southwest beyond the current resource, where no prior drilling was done. This reinforces the immense geological potential of the Omai gold camp. With these very exciting results in hand, we are planning for a second Gilt Creek drill hole, which will continue to test the lateral and depth extents of gold mineralization.”
All 774m of the Omai Stock drilled was sampled and 328 of the 538 samples or 61% assayed greater than 0.30 g/t Au. The average grade over the 774m interval was 1.0 g/t Au.
The purpose of these new Gilt Creek drill holes is threefold: to assist in mine planning and metallurgical studies that will facilitate inclusion of Gilt Creek into an updated Preliminary Economic Assessment (PEA) mine plan anticipated in Q3 2025, to test the lateral and depth extent of gold mineralization beyond that previously identified, and to assist in the geological modelling of the Gilt Creek deposit in order to assess the overall exploration potential and extent of this very large Omai gold system.
The company’s April 2024 PEA included only the Wenot open pit deposit, which has been the focus of the 2024 and 2025 drill programs to date. Incorporating the Gilt Creek underground deposit into an expanded mine plan with the Wenot open pit deposit has the potential to significantly increase projected annual production rates and life of mine for the Omai project.
This first drill hole completed into Gilt Creek since 2007 has proven successful with most of the intrusion hosting gold mineralization. Hole 095 deviated from the planned path through the deposit and given the extensive mineralization encountered, is also encouraging for further expansion of the Gilt Creek resource.
Although the average grades in this hole are lower than the resource estimate3, the sheer extent of gold mineralization and the first confirmation that the intrusion extends beyond the known limits opens the door to potential expansion. Further, by applying the same cut-off grade of 1.5 g/t Au as was used in the resource estimate3 (established for a US$1,700/oz gold price), a cumulative 198.3m (not continuous) has a weighted-average grade of 2.78 g/t Au, which is more comparable with the resource grade.
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 ounces gold averaging 3.22 g/t Au and Inferred Resources of 665,000 ounces gold averaging 3.35 g/t Au, using a 1.5 g/t Au cutoff and a US$1,700/oz gold price. Initial 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.
Significantly, approximately 80% of the Gilt Creek gold Mineral Resource Estimate is relatively shallow, lying at vertical depths of between 300m and 600m. Limited drilling of the Omai intrusion below 600m continued to encounter gold mineralization, but with drilling too sparce to include in a Resource. It provided evidence that gold mineralization within the Omai intrusion continues to greater depths, and the current drilling down to a vertical depth of 850m supports this.
Omai Gold Mines holds a 100% interest in the Omai Prospecting License that includes the past-producing Omai Gold Mine in Guyana, and a 100% interest in the adjoining Eastern Flats Mining Permits.
As a brownfields project, Omai benefits from good road access and a wealth of historical data that provides knowledge of the geology and gold mineralization on the Property, as well as metallurgy, historical processing recoveries and many other relevant mining parameters.