OMG NEWS RELEASE 1 Omai Gold Commences Exploration on East Wenot Extension and Broccoli Hill Target
OMG NEWS RELEASE 1
Omai Gold Commences Exploration on East
Wenot Extension and Broccoli Hill Target
October 29, 2021 Toronto, Ontario — Omai Gold Mines Corp. (TSXV: OMG) ("Omai" or
the "Company") is pleased to report that exploratio n has commenced on the East
Wenot Extension and on the Broccoli Hill target, at the Omai property in Guyana.
The current drilling program that focused on the We not deposit beneath the past
producing pit, was completed yesterday. The program consisted of 16 holes totalling
9,367 metres, with final assay results pending. P&E Mining Consultants are engaged
as the independent Qualified Person and have commen ced the Wenot resource
study. This allows the technical team to initiate a broader exploration program on the
Omai property to include drilling the extension of the Wenot deposit to the east, plus
the Broccoli Hill target, both located near the past-producing pits.
East Wenot Extension
The Wenot Shear Corridor is part of a wide east-wes t trending gold-mineralized
geological structure with 3 kilometres of drill-ind icated strike length across the
property. The Wenot pit, covering roughly 1.7 km of the strike length of this structure,
produced 1.4 million ounces of gold 1 to a depth of 190 metres. Like the classic regional
shear structures that host many of central Canada’s significant gold mines, several
episodes of crustal deformation were focused along this shear structure creating
permeable fracturing to significant depths, that allowed hydrothermal fluids to invade
and deposit gold within the open fractures and breaks.
Drilling is scheduled to start in mid-November, to explore the eastern extension of the
Wenot shear. Work will commence from the eastern e nd of the pit (~306000E) and
continue along an initial 800 metres, following the trend of the shear. This area has
seen no commercial mining, however abundant pitting in the surficial alluvial
material attests to gold that has attracted small s cale miners. Significant gold
mineralization has been identified in this area by several shallow holes drilled along
this trend from 1993-95 but testing to depths of only 50 to 75 metres into fresh rock.
1 Past production at Omai is summarized in several Cambior Inc. documents available on
Sedar.com, including March 31, 2006 AIF and news release August 3, 2006.
OMG NEWS RELEASE 2
Gold was intersected on ten 50-metre spaced section lines, with the best intersections
(west to east) including 21m @ 1.3 g/t Au (306130E) , 27 m @ 3.6 g/t Au (in saprolite), 9
m @ 2.6 g/t Au (306380E) and 15m @ 1.9 g/t Au(30653 0E) (see figure 1 and figure 2).
Since the holes were short, they did not fully test the width of the shear corridor in this
area, nor the depth extent of the gold mineralizati on. The drilling, scheduled to
commence in mid-November, will focused on expanding the known mineralization
and evaluating the potential for a near-surface economic deposit in this area.
Figure 1. East Wenot – Plan Map
Figure 2. East Wenot - Cross Section 306130E (looking west)
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Broccoli Hill
Broccoli Hill (“BH”) is a conspicuous hill that sit s less than 300 metres east of the
Fennell pit and 300 metres north of the Wenot pit. Combined, these two pits
produced over 3.7 million ounces of gold 1. BH has been an attraction for artisanal
miners for over 100 years and has seen minor surficial exploration for several decades.
Previous auger and soil surveys have identified num erous gold anomalies on BH,
including one auger hole that sampled 12.4 g/t Au f rom a 4 to 6 meters depth in
saprolite adjacent to a large area of pork knocker (artisanal miner) activity (Figure 3).
The abundance of past placer gold workings in the lowlands flanking the hill, together
with the numerous scattered artisanal workings on t he hill itself suggests a gold
source somewhere on BH. It is a very compelling target, interestingly, with little to no
drilling.
Figure 3. Broccoli Hill – Soil and auger sampling & Artisanal mining
Airborne geophysics completed in 2020 shows a magne tic-low signature over BH, a
characteristic of the adjacent Fennell deposit. At Fennell, gold occurs within a series
of relatively flat lying structures within a quartz diorite plug known as the “Omai
Stock”, with a diameter at surface of roughly 400 m etres. At Zijin’s Aurora Mine,
located approximately 200 km northwest of Omai, the ir Rory’s Knoll gold deposit
which is often compared to the Omai stock, has a fo otprint only 200-metres in
diameter. Broccoli Hill, covering an area of about 500 m by 700 m, with the underlying
bedrock still of unknown affinities, certainly has the potential to host such a deposit.
OMG NEWS RELEASE 4
Figure 4. Aeromagnetic data (red = magnetic highs; blue = magnetic lows)
Field work at Broccoli Hill commenced in late Septe mber with trenching and
mapping to investigate the underlying geology, in order to better identify drill targets.
The tropical environment of Guyana creates a pervas ive thick saprolite weathering
and often an overlying ferruginous laterite that effectively conceal and mask bedrock
geology.
The excavator on site was sent to Broccoli Hill to open up trenches and some of the
old roads, and to develop a trail along the ridge crest. The work was done to improve
access and to expose saprolite for mapping and samp ling. The trenching was
successful at exposing saprolite and a significant area was found to have an
abundance of quartz crystals or grains in the ferricrete. It is possible that these quartz
grains, which appear to be floating in the ferruginous matrix of hematite, goethite and
jarosite, and in some exposures could represent a r esidual texture of a quartz-rich
intrusive underlying portions of Broccoli Hill. It is also possible that a Fennell-type
intrusive may not come to surface and would require deeper drilling. Two to three
drill holes, planned for late this year, will target some of the best gold anomalies in the
soil and auger sampling, areas of pork knocker workings and areas possibly underlain
by granitic intrusives. These initial drill holes will provide valuable information on the
bedrock underlying BH to direct further drilling.
OMG NEWS RELEASE 5
Fennell Target
Fennell is one of primary targets on the Omai property, based on results of a 46-drill
hole exploration program completed by Iamgold in 20 07. This drilling identified a
significant gold deposit beneath the past producing pit.
The Fennell pit produced 2.4 million ounces between 1993 and 2004 1. It was mined to
a depth of 250m where it bottomed at a barren diabase sill. After production ceased,
Iamgold completed the exploration beneath the sill and completed a resource report.
Impressive results included 43 intersections of over 1 oz/ton over one metre, as well as
a few samples with over 1000 oz/ton Au over one met re. This drilling reached a
maximum depth of about 960 metres with the deepest holes ending in
mineralization, suggesting even further depth potential.
Omai has started modelling this historic data and plans to initiate a drill program on
the Fennell target in Q2 of next year. This work will require deeper holes to verify the
historic resource (to be NI 43-101 compliant) and t o explore the depth extent of this
mineralization.
Elaine Ellingham, CEO commented “Completing the dri lling to support the Wenot
resource study is quite an achievement for the new Omai team. With this
accomplished, we are very excited to step out to explore some of the other prime near-
mine targets. Areas such as Broccoli Hill and East Wenot have excellent potential for
both significant new discoveries and for expanding known zones of mineralization.
Wenot East is one of those areas where limited hist oric drilling identified very
interesting gold mineralization, but was not pursued. These offer great opportunities
for us to test the extent of these zones and assess their economic potential. We expect
to begin drilling the East Wenot Extension and to complete a couple of initial holes at
Broccoli Hill before the holiday break in December.”
Sample collection, assaying and data management
Standards, blanks and duplicates are entered at regular intervals. Samples are sealed
in plastic bags and shipped to the ActLabs 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. 30 g of pulverized material are then fire assayed by atomic
absorption (AA). Initial assays with results above 3,000 ppb gold are re-assayed with
gravimetric finish. Standards and blanks meet with QA/QC specifications.
OMG NEWS RELEASE 6
John C. Spurney, is a Qualified Person (QP) under Na tional Instrument 43-101
"Standards of Disclosure for Mineral Projects" and has approved the technical
information contained in this news release. Mr. Spu rney is not considered to be
independent for the purposes of National Instrument 43-101.
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.
About Omai Gold Mines Corp.
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
sq. km), 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. Mining ceased at a time when the av erage gold price was less than
US$400 per ounce, leaving significant drilled resou rces untapped. The Company’s
short-term priorities are to verify and expand the known resources, while advancing
exploration on nearby targets, providing a solid opportunity to create significant value
for all stakeholders.
For further information, please see our website www.omaigoldmines.com or
contact:
Elaine Ellingham
President & CEO
Phone: +1-416 473-5351
Cautionary Note Regarding Forward-Looking StatementsThis news release includes certain “forward-
looking statements” under applicable Canadian secur ities legislation. Forward-looking statements
include, but are not limited to, statements with respect to timing and results of the drill program, and
completion of an initial Inferred Resource for Wenot. 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. There can be no assurance that such 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.