Omai Gold Drills 8.51 g/t Au over 9.3m (capped), 3.56 g/t Au over 21.8m, and 2.32 g/t Au over 19.8m in Resource Expansion Drill Program at Wenot
Omai Gold Drills 8.51 g/t Au over 9.3m
(capped), 3.56 g/t Au over 21.8m, and 2.32 g/t
Au over 19.8m in Resource Expansion Drill
Program at Wenot
Toronto, Ontario--(Newsfile Corp. - May 12, 2025) -
Omai Gold Mines Corp.
(TSXV: OMG) (OTCQB:
OMGGF) ("
Omai Gold
" or the "
Company
") is pleased to announce assay results from its ongoing 2025
drill program, focused on expanding the large Wenot deposit at the Company's 100%-owned Omai Gold
Project in Guyana, South America. Assays are reported for three holes and one hole extension totaling
2,607m drilled. A total of 20 holes have been completed to date this year totalling 13,700m. The
program is expected to surpass the planned 15,000m program as results continue to extend the known
limits of the gold mineralization at Wenot. Results are pending for an additional 16 holes and drilling
continues with three rigs (Figure 1). The Company has engaged an independent engineering firm to
commence the updated NI 43-101 Mineral Resource Estimate which is expected to take 2-3 months to
complete.
Highlights include:
Hole 25ODD-103 & 103W
(Figure 2)
3.56 g/t Au over 21.8m
3.93 g/t Au over 7.0m
5.66 g/t Au over 4.3m
Hole 25ODD-102
28.04 g/t Au over 9.3m (8.51 g/t Au over 9.3m capped at 70 g/t Au)
including 252.36 g/t Au over 1.0m
8.98 g/t Au over 5.0m
3.36 g/t Au over 12.5m
4.55 g/t Au over 7.0m
Hole 25ODD-105 & 105W
2.32 g/t Au over 19.8m
Hole 24ODD-085EXT
2.02 g/t Au over 18.7m
Elaine Ellingham, President & CEO, commented:
"Today's results exemplify the continued resource
expansion potential of our Wenot shear-hosted orogenic deposit. Wide intercepts of high-grade gold
mineralization continue to extend the known limits of gold mineralization at Central, East, and West
Wenot. Much of the gold mineralization identified by our 2025 drilling to date is outside of the 2024
Mineral Resource Estimate
1
("MRE") and well outside of the pit limits as defined within our 2024
Preliminary Economic Assessment
1
("PEA"). As such, management believes that these results will
contribute to a significant expansion in the upcoming MRE update. Given the very positive results and
rapid pace of drilling with three rigs, we anticipate surpassing the expanded 15,000m drill program.
Although we have delayed this next (fourth) NI 43-101 MRE by a couple of months from our original
plans, we believe that maximizing the Wenot resource will create more value for our shareholders.
This drilling paves the way for a near-term updated MRE, that will form the basis for an updated PEA
later in 2025.
We consider our 2024 PEA as a baseline as it was based on only 45% of the Omai Project's MRE.
The adjacent intrusion-hosted Gilt Creek deposit also hosts a sizeable gold resource
1
. We completed
an 1,148m drill hole at Gilt Creek at the end of 2024 (see News Release dated February 24, 2025)
and intersected 774m of mineralized intrusion. The hole ended in mineralized intrusion with visible
gold within 7m of the end of the hole. An additional hole at Gilt Creek is expected to start shortly to
further test for potential expansion and to collect data for the upcoming PEA. Although not included in
the baseline 2024 PEA, we plan to include the Gilt Creek underground deposit as well as an
expanded Wenot deposit in the updated 2025 PEA mine plan."
The 2025 drill program at Wenot continues with the following objectives: 1) to identify further
mineralization in some of the wide undrilled areas within the 2.5 km long strike of the Wenot deposit,
particularly within the under-explored southern sedimentary rock sequence, 2) to extend the known
mineralization in the multiple subparallel gold zones down to the 400m to 450m level, which management
believes is a reasonable depth for a potential large-scale open pit operation, and 3) to test for near
surface extensions of the broad mineralized zones discovered within the southern
sedimentary rocks at
West Wenot, in an area with potential as a starter pit. With the discovery late last year of particularly wide
and higher-grade zones, a further objective of the 2025 drilling is to step out to test for potential strike
and dip extensions of these exceptionally robust gold zones. The current results are showing success on
this objective. Once the work on the updated MRE is underway, the Company plans to continue drilling to
further extend the Wenot deposit, to complete a second deep hole on the Gilt Creek deposit, and to
refine and drill certain exploration targets with known gold mineralization.
Hole 25ODD-103 & -103W
(Figure 2) was drilled from the north side of East Wenot approximately
350m from the eastern limit of the historically mined pit and was targeting the flanks of the northern wall
of the 2024 MRE
1
pit shell and extensions at depth below the MRE. Hole 103 successfully intersected
multiple zones of gold mineralization within the main gold horizons. The headline interval of 3.56 g/t Au
over 21.8m was intersected within the most prolific historically mined zone, known as the "Dike
Corridor". Other notable intercepts within this Dike Corridor included 1.42 g/t Au over 10.6m, 1.84 g/t Au
over 8.5m, and 2.0 g/t Au over 6.0m. The Dike Corridor is one of five dominant subparallel, near-vertical
gold zones that comprise the large 2.5km long Wenot deposit. Lying within the broader Wenot Shear,
the roughly 100-200m wide Dike Corridor is typically 25-100m north of the central volcanic-sedimentary
contact, that itself hosts gold mineralization within a persistent quartz feldspar porphyry unit. The Dike
Corridor is comprised of a series of felsic and diorite dikes that intruded into the volcanic sequence and
were later subjected to varying degrees of shearing, alteration and stockworks of quartz veining. Hole
25ODD-103 continued on to intersect 0.85 g/t Au over 17.6m within the central quartz feldspar porphyry
("QFP") at the main contact at a vertical depth of approximately 470m.
Hole 103 was wedged at a depth of 309m and was drilled a further 375m at a shallower angle for an
ultimate depth of 677.5m (Figure 2). This was targeting a shallower cut of the mineralized zones above
those intersected in Hole 103.
Hole 25ODD-103W
successfully intersected 2.57 g/t Au over 7.5m, 1.35
g/t Au over 6.0m, and 3.93 g/t Au over 7.0m, with each of these containing multiple occurrences of visible
gold.
Hole 25ODD-102
was drilled from the north in Central Wenot, targeting approximately 50m east of the
very wide mineralized zone of 4.57 g/t Au over 45.5m in hole 25ODD-087. It also tests approximately
100m down-dip from hole 21ODD-001 that intersected multiple high-grade and thick intervals including
2.2 g/t Au over 19.5m (in the volcanics), 3.6 g/t Au over 13.5m (in the Dike Corridor), and 9.0 g/t Au over
16.0m (at the contact QFP). (see News Release dated April 21, 2021). Hole 102 intersected a very high-
grade interval of 28.04 g/t Au over 9.3m within the Dike Corridor, which included a 1.0m sub-interval
grading 252.36 g/t Au (Figure 3) at 362m down hole. If capped at 70 g/t Au, the 9.3m interval grade is
8.51 g/t Au. Hole 102 also intersected a high-grade interval of 3.36 g/t Au over 12.5m approximately
115m deeper than the corresponding interval of 3.60 g/t Au over 13.5m in Hole 001, within the Dike
Corridor. Similarly, the interval of 4.55 g/t Au over 7.0m in Hole 102 is approximately 120m deeper than
the corresponding interval of 9.0 g/t Au over 16.0m in Hole 001 within the contact QFP.
Hole 25ODD-085EXT
is a 150m extension of hole 24ODD-085 drilled in 2024 (see News Release
dated December 4, 2024). Hole 24ODD-085 was drilled from the north side of Central Wenot and was
stopped as planned at 563m and successfully intersected depth extensions of multiple gold zones within
the Dike Corridor, including an impressive 68.7m wide zone averaging 3.16 g/t Au (including 6.65 g/t
over 29.9m). The goal of the extension was to test the contact QFP and adjacent protomylonite zones
that are typically among the best mineralized zones at Wenot. This extension successfully intersected
2.02 g/t Au over 18.7m at the contact QFP, at a vertical depth of approximately 430m. This is over 100m
below the 2024 resource and over 200m below the 2024 PEA pit shell in that area. This intersection is
approximately 125m below the closest QFP intercept of 2.16 g/t Au over 18.4m in hole 21ODD-002, and
225m below an intercept of 1.99 g/t Au over 31.0m.
Hole 25ODD-105 & -105W
was drilled at West Wenot, at an azimuth towards the southeast. The hole
was drilled to test the depth potential in this area, roughly 300m west of the past producing pit and in an
area with potential as a large starter pit. The hole targeted a very robust area of mineralization within the
sediments that appears coincident with a magnetic low seen in the airborne geophysics. Geological and
recent structural modelling suggests a zone of enrichment around a series of subtle NNE trending
structures. Although the very dominant and persistent shearing and mineralization at Wenot is east-west,
old blast hole data from the shallow and limited historic pit plus our drill data suggest zones of
enrichment along the east-west zones that may correspond to these subtle cross-cutting structures.
Significant mineralization has been intersected within the sediments on the southern side of the main
contact at West Wenot, including a 31.1m interval of 4.07 g/t Au in hole 23ODD-063. Hole -105 was
drilled to test across one of these potential NNE structures and was drilled to an ultimate depth of 581,
after it was wedged at 250m to correct the azimuth.
Hole 25ODD-105W
successfully intersected the
target, encountering 2.32 g/t Au over 19.8m, over 50m below the 2024 MRE pit shell and approximately
200m below the 2024 PEA pit shell in that area. It confirmed enriched mineralization along a NNE
structure and also extended the known gold mineralization deeper in this "starter pit" area.
Table 1. Recent Drill Results*
DDH
From
(m)
To
(m)
Interval
(m)
Grade
(g/t Au)
Gold Zone
24ODD-085EXT**
590.0
591.8
1.8
0.94
Dike Corridor
598.6
604.0
5.4
0.44
Dike Corridor
634.5
653.2
18.7
2.02
Central QFP Complex
703.4
706.1
2.8
2.12
Sediments
25ODD-102
93.5
99.5
6.0
0.68
Volcanics
198.5
209.5
11.0
1.52
Volcanics
242.0
249.0
7.0
0.51
Volcanics
257.0
258.5
1.5
1.20
Volcanics
280.0
285.0
5.0
8.98
Volcanics
326.5
330.5
4.0
0.39
Dike Corridor
342.5
344.0
1.5
4.76
Dike Corridor
361.2
370.5
9.3
28.04***
Dike Corridor
including
362.0
363.0
1.0
252.36
Dike Corridor
391.5
404.0
12.5
1.03
Dike Corridor
458.0
459.5
1.5
1.15
Dike Corridor
463.5
476.0
12.5
3.36
Dike Corridor
576.5
583.5
7.0
4.55
Central QFP Complex
588.0
589.5
1.5
1.16
Central QFP Complex
605.0
612.5
7.5
1.19
Sediments
629.0
635.2
6.2
1.11
Sediments
667.5
669.6
2.1
3.68
Sediments
25ODD-103
333.0
334.5
1.5
1.40
Dike Corridor
382.5
385.0
2.5
3.48
Dike Corridor
406.0
412.0
6.0
2.00
Dike Corridor
438.5
442.5
4.0
2.14
Dike Corridor
447.0
457.6
10.6
1.42
Dike Corridor
475.8
479.0
3.2
3.09
Dike Corridor
524.2
546.0
21.8
3.56
Dike Corridor
552.0
559.5
7.5
0.38
Dike Corridor
570.0
576.0
6.0
0.34
Dike Corridor
597.0
605.5
8.5
1.84
Dike Corridor
638.8
656.4
17.6
0.85
Central QFP Complex
25ODD-103W**
334.5
336.0
1.5
1.61
Dike Corridor
385.0
386.5
1.5
4.15
Dike Corridor
400.0
407.5
7.5
2.57
Dike Corridor
423.3
425.2
1.9
1.19
Dike Corridor
432.5
434.4
1.9
1.80
Dike Corridor
443.0
449.0
6.0
1.35
Dike Corridor
481.0
484.0
3.0
0.72
Dike Corridor
499.0
506.0
7.0
3.93
Dike Corridor
560.0
564.3
4.3
5.66
Dike Corridor
601.0
605.5
4.5
0.56
Central QFP Complex
614.5
616.0
1.5
2.51
Sediments
670.0
677.5
7.5
0.32
Sediments
25ODD-105
156.1
159.0
2.9
1.19
Volcanics
262.5
263.5
1.0
7.25
Central QFP Complex
297.0
300.9
3.9
0.54
Sediments
340.0
342.0
2.0
1.50
Sediments
25ODD-105W**
370.9
372.0
1.1
3.26
Sediments
387.0
388.0
1.0
13.21
Sediments
407.3
408.6
1.3
1.54
Sediments
414.5
416.0
1.5
1.15
Sediments
447.0
466.8
19.8
2.32
Sediments
565.5
566.7
1.2
1.67
Sediments
*True widths vary as mineralization at Wenot is generally hosted within stockwork vein systems with alteration halos, with an estimated true width
range of 70-90%. Cut-off grade 0.30 g/t Au with maximum 3.0m internal dilution is applied. Grades are uncapped unless otherwise noted.
** For wedges (W) and hole extensions (EXT), the From and To numbers indicate down hole lengths from original hole collar.
*** Uncapped. Capping at 70g/t Au will result in a 9.3m interval of 8.51 g/t Au.
Figure 1. Wenot Plan Map Showing Drill Hole Locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/251672_52abe6355461f9b2_001full.jpg
Figure 2. Cross-section for Hole 25ODD-103 & -103W
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/251672_52abe6355461f9b2_002full.jpg
Figure 3. Visible gold from Hole 25ODD-102 at a depth of 362m, 1.0m interval reported 252.36
g/t Au.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8712/251672_52abe6355461f9b2_003full.jpg
Table 2. Drill Hole Coordinates
Hole ID
Azimuth
(degrees)
Inclination
(degrees)
Easting
Northing
Depth
(m)
Status
25ODD-085EXT
173
-56
305159
601619
713.0
Reporting
25ODD-102
176
-53
305529
601886
699.6
Reporting
25ODD-103
176
-53
305681
601854
692.0
Reporting
25ODD-103W
180
-53
305691
601675
599.0
Reporting
25ODD-105
115
-55
304077
601757
359.0
Reporting
25ODD-105W
124
-53
304203
601686
581.0
Reporting
25ODD-104
356
-53
305384
601273
599.0
Pending
25ODD-106
354
-53.0
305639
601231
369.4
Pending
25ODD-106W
357
-52.5
305619
601391
312.7
Pending
25ODD-107
176
-53.0
304967
601996
710.0
Pending
25ODD-108
178
-53.0
304534
601953
646.7
Pending
25ODD-109
170
-53.0
304498
601772
308.0
Pending
25ODD-109W
169
-52.8
304510
601392
300.5
Pending
25ODD-110
176
-53.0
305836
601819
704.0
Pending
25ODD-111
176
-54.0
305231
601928
656.0
Pending
25ODD-112
175
-54.0
305578
601831
643.7
Pending
25ODD-113
110
-48.0
304265
601657
484.3
Pending
25ODD-114A
176
-57.0
304796
602029
313.0
Pending
25ODD-114
176
-57.0
304790
602030
700.0
Pending
25ODD-115A
355
-53.0
305427
601247
105.0
Pending
25ODD-115
355
-52.0
305429
601248
106.5
Pending
25ODD-116
356
-50.0
304487
601468
571.6
Pending
25ODD-117
176
-50.0
305429
601849
646.0
Pending
25ODD-118
176
-53.0
305928
601800
541.0
Drilling
25ODD-119
175
-54.0
305028
601981
356.0
Drilling
25ODD-120
176
-54.0
305182
602067
49.5
Drilling
1
NI43-101 Technical Report dated May 21, 2024 "UPDATED MINERAL RESOURCE ESTIMATE AND PRELIMINARY ECONOMIC ASSESSMENT
OF THE OMAI GOLD PROPERTY, POTARO MINING DISTRICT NO.2, GUYANA" was prepared by Eugene Puritch, P.Eng., FEC, CET, President
of P&E Mining Consultants Inc. is available on SEDAR+ and on the Company's website. It includes a Wenot resource of 834,000 indicated ounces
of gold averaging 1.48 g/t Au and 1,614,000 inferred ounces of gold averaging 1.99 g/t Au, and the adjacent Gilt Creek resource of 1,151,000
indicated ounces of gold averaging 3.22 g/t Au and 665,000 inferred ounces of gold averaging 3.35 g/t Au.
2
Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on
SEDARplus.ca
, including March
31, 2006 AIF and news release August 3, 2006.
Quality Control
Omai maintains an internal QA/QC program to ensure sampling and analysis of all exploration work is
conducted in accordance with best practices. Certified reference materials, blanks and duplicates are
entered at regular intervals. Samples are sealed in plastic bags.
Drill core samples (halved-core) were shipped to ActLabs, a certified laboratory in Georgetown Guyana,
respecting the best chain of custody practices. At the laboratory, samples are dried, crushed up to 80%
passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm, including cleaner sand. Fifty
grams of pulverized material is then fire assayed by atomic absorption spectrophotometry (AA). Initial
assays with results above 3.0 ppm gold are re-assayed using a gravimetric finish. For samples with
visible gold two separate 500g or 1000g pulverized samples are prepared, with 50 grams of each fire
assayed by atomic absorption spectrophotometry, with assays above 3.0 ppm gold being re-assayed
using a gravimetric finish. Certified reference materials and blanks meet with QA/QC specifications.
Qualified Person
Elaine Ellingham is a Qualified Person (QP) under National Instrument 43-101 "Standards of Disclosure
for Mineral Projects" and has approved the technical information contained in this news release. Ms.
Ellingham is not considered to be independent for the purposes of National Instrument 43-101.
ABOUT OMAI GOLD
Omai Gold Mines Corp. 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. The Company announced a Preliminary Economic Assessment ("PEA")
1
on its Wenot Deposit
at Omai in April 2024, showing an open pit operation to produce 1.84 million ounces of gold over a 13-
year period, with an NPV
5%
of US$556 million at a US$1,950/oz gold price. This baseline PEA
incorporates only 45% of the property's MRE and management believes that with additional work the
mine plan can be significantly expanded, the economics enhanced, and the open pit resources further
increased. An updated NI 43-101 Mineral Resource Estimate ("MRE")
1
of 2.0 million ounces of gold
(Indicated) and 2.3 million ounces (Inferred) reflects a notable increase as a result of 2023's successful
drilling. Once South America's largest producing gold mine, Omai produced over 3.7 million ounces of
gold between 1993 and 2005
2
. Mining ceased at a time when the average gold price was less than
US$400 per ounce. 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.
For further information, please see our website
www.omaigoldmines.com
or contact:
Elaine Ellingham, P.Geo.
President & CEO
+1.416.473.5351
David Stewart, P.Eng.
VP Corporate Development & Investor Relations
+1.647.294.8361
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect to the
timing of completion of exploration, trenching and drill programs, and the potential for the Omai Gold
Project to allow Omai to build significant gold Mineral Resources at attractive grades, and forward-
looking statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable, are subject to known and unknown risks, uncertainties and other factors which
may cause the actual results and future events to differ materially from those expressed or implied by
such forward-looking statements.
Such factors include, but are not limited to general business, economic, competitive, political and
social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and
the results of current exploration. Further, the Mineral Resource data set out in the Omai Gold news
release are estimates, and no assurance can be given that the anticipated tonnages and grades will
be achieved or that the indicated level of recovery will be realized. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
Further, the Preliminary Economic Assessments and related data discussed in this news release are
estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved
or that the indicated level of recovery will be realized. Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause the actual results, level of activity,
performance or achievements of Omai Gold Mines Corp. to be materially different from those
expressed or implied by such forward-looking statements, including but not limited to: risks related to
international operations; actual results of current exploration activities; conclusions of economic
evaluations; changes in project parameters as plans continue to be refined; future prices of gold,
copper and other minerals and metals; general market conditions; possible variations in ore reserves,
grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; uncertainty of access to additional capital;
delays in obtaining governmental approvals or in the completion of development or construction
activities.