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Omai Gold Mines Corp. (OMGGF) is a mining company with a focus on its 100%-owned Omai Gold Property in Guyana. The company recently reported an updated Mineral Resource Estimate, showcasing significant increases in gold reserves. The Omai Property hosts two gold deposits, the Wenot Deposit, and the Gilt Creek Deposit, with promising exploration potential. The Wenot Deposit's open-pit mining scenario, as outlined in the Preliminary Economic Assessment (PEA), projects an average annual production of 142,000 ounces of gold over a 13-year mine life. With positive financial metrics, including an after-tax NPV of $777 million and a 24.7% IRR, Omai is poised for growth and development in the gold mining sector.
Omai Gold Mines (TSXV: OMG) (OTCQB: OMGGF) reports strong drilling results from its 2024 program, including its best intercept to date of 4.48 g/t Au over 57.0m in hole 24ODD-092. The company completed 26 diamond drill holes totaling 13,716m, primarily focused on expanding the Wenot deposit in Guyana.
Key achievements include extending known mineralization to 400-450m depth and identifying mineralization in previously undrilled areas within the 2.5 km long Wenot deposit. Notable results include hole 24ODD-094 with 1.10 g/t Au over 63.2m and hole 24ODD-091 with multiple gold zones.
The company has commenced its 2025 drill program with an initial 10,000m planned, targeting an updated Mineral Resource Estimate in Q2 2025 and an updated Preliminary Economic Assessment in Q3 2025. The program aims to expand the proposed Wenot open pit and potentially include the Gilt Creek underground deposit in future mining plans.
Omai Gold Mines (TSXV: OMG) (OTCQB: OMGGF) has appointed David Stewart, P.Eng. as Vice President Corporate Development & Investor Relations. Stewart brings 15 years of mining sector experience, including roles at Ascot Resources, Desjardins Securities, and Barrick Gold.
The company recently announced a Preliminary Economic Assessment (PEA) on its Wenot Deposit, projecting production of 1.84 million ounces of gold over 13 years, with an NPV5% of US$556 million at US$1950/oz gold. The project currently incorporates only 45% of the property's Mineral Resource Estimate of 2.0 million ounces (Indicated) and 2.3 million ounces (Inferred).
The Omai project, formerly South America's largest producing gold mine, produced over 3.7 million ounces of gold between 1993 and 2005. The company has granted Stewart 1.25 million stock options at $0.25/share.
Omai Gold Mines (TSXV: OMG, OTCQB: OMGGF) has appointed Elaine Ellingham as Executive Chairman while maintaining her role as President and CEO, and Derek Macpherson as Lead Director. The company's Omai Gold project in Guyana recently completed a Preliminary Economic Assessment showing potential production of 1.84 million ounces of gold over 13 years, with an NPV5% of US$556 million at US$1950/oz gold. The project's updated NI 43-101 Mineral Resource Estimate indicates 2.0 million ounces (Indicated) and 2.3 million ounces (Inferred) of gold. The former mine produced over 3.7 million ounces between 1993-2005.
Omai Gold Mines (TSXV: OMG) (OTCQB: OMGGF) has initiated diamond drilling at the Gilt Creek gold deposit in Guyana. Two initial holes are planned to expand the current Mineral Resource Estimate and advance engineering studies for inclusion in a mid-2025 economic study.
The Gilt Creek deposit features Indicated resources of 1,151,000 ounces gold averaging 3.22 g/t and Inferred resources of 665,000 ounces averaging 3.35 g/t Au. Located 500m north of the Wenot deposit, Gilt Creek previously produced 2.4 million ounces at 1.5 g/t Au between 1993-2005.
The company aims to incorporate Gilt Creek into an expanded mine plan with the Wenot open pit to potentially increase production rates and mine life. One drill hole is expected to be completed by year-end, with metallurgical testing and mine design work starting in early 2025.
Omai Gold Mines announces positive drilling results from its Wenot deposit expansion program. Key intersections include 3.16 g/t Au over 68.7m and 4.57 g/t Au over 45.5m within the 'Dike Corridor'. Hole 24ODD-085 revealed multiple gold zones including 6.65 g/t Au over 29.9m, while Hole 24ODD-087 showed impressive results including 77.71 g/t Au over 1.5m.
The company remains on track for an updated Mineral Resource Estimate in Q1 2025 and an economic study in Q2 2025. The drilling program demonstrates that gold zones at Wenot increase in width and grade with depth, with drilling expected to continue into Q1 2025.
Omai Gold Mines Corp (TSXV: OMG) (OTCQB: OMGGF) has announced its participation in the 50th Annual New Orleans Investment Conference on November 21st at the Hilton New Orleans Riverside. Elaine Ellingham, President & CEO, will deliver an investor presentation and conduct one-on-one meetings with investors. The conference brings together leading analysts and investors, featuring presentations across major asset classes, including Omai Gold Mines.
Omai Gold Mines announces positive drilling results from its Omai gold project in Guyana. Key highlights include intersections of 10.93 g/t Au over 7.5m, 3.19 g/t Au over 22.8m, and 2.96 g/t Au over 19.4m at the Wenot deposit. The current 10,000m drill program aims to expand the Wenot deposit's limits and infill undrilled areas. Since July 2024, 17 diamond drill holes totaling 8,460 metres have been completed, with assays reported for six holes. The company plans to expand the program with a third drill rig to accelerate towards an updated Mineral Resource Estimate at Wenot in Q1 2025.
Omai Gold Mines (TSXV: OMG) (OTCQB: OMGGF) has appointed Drew Anwyll as a new independent Director. Anwyll, a mining engineer with over 25 years of international experience, is currently Chief Operating Officer of Generation Mining He brings expertise in mining engineering through start-up and construction for both open pit and underground mines.
The company has also granted incentive stock options to certain directors to purchase up to 1,000,000 common shares at an exercise price of $0.165 per share with a five-year term.
Omai Gold recently announced a Preliminary Economic Assessment on its Wenot Deposit, showing potential for an open pit operation to produce 1.84 million ounces of gold over 13 years, with an NPV5% of US$556 million at a US$1950/oz gold price. The company holds a 100% interest in the Omai Prospecting License, which includes the past-producing Omai Gold Mine in Guyana.
Omai Gold Mines (OTCQB: OMGGF) has released drill results from its Omai gold project in Guyana. In 2024, ten diamond drill holes totaling 3,732 meters were completed, with seven assays received so far. Key results include:
- 3.13 g/t Au over 43.0 m
- 2.89 g/t Au over 22.0 m
- 2.20 g/t Au over 43.7 m
The 2024-25 drill program aims to expand the mine plan and enhance economic metrics. The recent PEA covers only 45% of the resource estimate. Highlights show potential for converting 'waste' areas into mineralized material. A Preliminary Economic Assessment (PEA) from April forecasts 1.84 million ounces of gold production over 13 years, with an NPV5% of US$556 million at a gold price of US$1950/oz. The ongoing drilling is set to continue until early December, targeting the expansion of resources and updated economic studies.
Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) has appointed Joshua Bailey as Technical and Strategic Advisor. Bailey brings over 20 years of experience in mineral exploration, with executive roles at BHP Exploration, Exiro Minerals, and Wallbridge Mining. The company also announced its participation in the Beaver Creek Precious Metal Summit on September 10-13, 2024, where CEO Elaine Ellingham will present on September 12th.
Omai Gold owns the past-producing Omai gold property in Guyana. A recent Preliminary Economic Assessment supports an open pit operation producing 1.84 million ounces of gold over 13 years, with an NPV5% of US$556 million at a US$1950/oz gold price. The company's updated Mineral Resource Estimate includes 2.0 million ounces of gold (Indicated) and 2.3 million ounces (Inferred).
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