January 4, 2022 Toronto, Ontario — Omai Gold Mines Corp. (TSXV: OMG) (“Omai Gold” or the “Company”) is pleased to announce an initial Mineral Resource Estimate for its Wenot gold deposit at the Omai Project in Guyana.
HIGHLIGHTS:
16.7 million tonnes of Indicated Mineral Resources averaging 1.31 grams of gold per tonne for 703,300 ounces of gold, and
19.5 million tonnes of Inferred Mineral Resources averaging 1.50 grams of gold per tonne for 940,000 ounces of gold
Incorporates 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 m south of the past-producing Fennell open pit
2022 exploration 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 & CEO stated: “This is a very significant milestone for Omai Gold. A Mineral Resource of over 1.6 million ounces of gold (i) 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(ii) that also remains open at depth.”
“The Omai Gold Mine produced over 3.7 million ounces of gold(iii) 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 nearmine 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.”
“Our exploration team is to be especially congratulated for delivering results while safely facing the challenges presented by the COVID-19 pandemic. Their experience and dedication allowed us to complete the Company’s first NI 43-101 Mineral Resource Estimate on the timeline set out at the end of 2020. I have great confidence that this team will drive further exploration successes in 2022.”
Omai Gold will file a NI 43-101 Technical Report for the Wenot Mineral Resource Estimate, on SEDAR at www.sedar.com and on the Company’s website www.omaigoldmines.com within 45 days of this news release.
