Omai Gold tables 703,300 oz gold Indicated, 940,000 Inferred in Guyana
Omai Gold Mines Corp. [OMG-TSXV] tabled an initial mineral resource estimate for its Wenot gold deposit at the Omai project in Guyana.
Highlights include 16.7 million tonnes of Indicated Mineral Resources averaging 1.31 g/t gold for 703,300 ounces of gold; 19.5 million tonnes of Inferred Resources averaging 1.50 g/t gold for 940,000 ounces of gold.
The estimates incorporate 10,508 assay results from 549 diamond drill holes totalling 21,541 metres within the mineralized wireframes. Wenot remains open at depth and along strike, and is approximately 400 metres south of the past-producing Fennell open pit.
Exploration in 2022 will focus on expanding mineral resources along strike and at depth at Wenot, while advancing on other priority targets, and revisiting Fennell, which hosts a significant unmined historical resource and is also open at depth.
Elaine Ellingham, president and CEO, stated: “This is a very significant milestone for Omai Gold. A mineral resource of over 1.6 million ounces of gold at Wenot gives us a very solid base from which to expand the property’s total potential gold resources. Not only is the Wenot Deposit open along strike and at depth, it is located approximately 400 metres south of the past producing Fennell open pit that hosts a significant historical gold mineral resource that also remains open at depth.”
“The Omai Gold Mine produced over 3.7 million ounces of gold) between 1993 and 2005. Since it operated and was shut-down during a sub-US$400/oz gold price environment, known extensions to the Wenot and Fennell open pits were not pursued, nor were the many near-mine exploration targets. This initial Wenot Mineral Resource attests to the potential to expand the known deposits and together with Fennell’s historical mineral resource, demonstrates the potential to re-build Omai into a multi-million ounce project. We also see potential elsewhere on the property for additional Wenot-type and Fennell-type deposits. Starting in late November, with the Wenot Mineral Resource drilling completed, we shifted our focus to commence exploration for near-surface mineralization that has the potential for additional ounces amenable to open pit mining,” she added.
Omai Gold Mines Corp., through its wholly owned subsidiary Avalon Gold Exploration Inc., holds a 100% interest in the Omai Prospecting License covering 4,590 acres (18.575 km2) that includes the past producing Omai gold mine, and a 100% interest in the adjoining Eastern Flats Mining Permits covering 1,519 acres.