Omai Gold Mines Corp. has returned assay results from eleven additional diamond drill holes at its 100% owned Omai Gold Project in Guyana, highlighted by central Wenot hole 26ODD-193, which intersected 5.12 g/t gold over 40.5 metres.

The drill program targeted the Wenot deposit's Dike Corridor at vertical depths between 260 and 290 metres. Hole 26ODD-193 encountered 11 discrete gold zones, including a high-grade interval of 11.29 g/t gold over 10.4 metres, which itself contained 18.35 g/t gold over 4.5 metres. Other notable intercepts from the current batch include hole 26ODD-197W, which returned 2.68 g/t gold over 40.7 metres within a 157-metre span of the Dike Corridor.

Five diamond drill rigs remain active on the property as part of an ongoing 50,000-metre campaign. The company has completed 74 holes totaling 35,149 metres this year. Data from the current drilling program are intended to feed into an updated mineral resource estimate slated for completion before the end of the year, supporting the project's progression toward a feasibility study.

“We are pleased to deliver further strong drill results from Wenot. Drilling is expected to continue through to mid-December with the five rigs. Our Preliminary Economic Assessment ("PEA") 1 recently announced for the Omai Project, exceeded our long-established target for a 250,000 to 300,000 ounce per year mine, as we delivered a mine plan for production averaging 351,000 oz per year over an 18-year mine life. Our drilling continues to be highly effective; over the past 16 months, we increased the Omai Mineral Resource Estimate (MRE) by 86%, allowing us to reach this much larger mine plan and also a much lower than market-anticipated strip ratio. With a larger mine comes increased upfront capital requirements, however, this optimizes economics and further establishes Omai as one of the largest undeveloped gold projects in South America. With the current gold price around $4,500/oz, the Omai PEA supports a net present value (NPV) of $6.2 billion, at a 5% discount. With this strong PEA, we are on a clear trajectory for advancing Omai to the next milestones .”

— Elaine Ellingham, President & CEO

The ongoing drilling results are expected to contribute to both upgrading large inferred resources and expanding several gold zones across the Wenot deposit ahead of the year-end resource update.

Read the full announcement: Omai Gold Drills 5.12 g/t Au over 40.5m and 2.68 g/t Au over 40.7m at Wenot