- Omai Gold (OMG) is releasing an initial Mineral Resource Estimate (MRE) for the company’s Wenot Gold Deposit at its Omai Project in Guyana
- The MRE shows 16.7 million tones of indicated mineral resources, averaging 1.31 grams of gold per tonne
- That equates to a total of 703,300 ounces of gold
- The company will focus its 2022 exploration efforts on expanding mineral resources along strike and at depth at the Wenot deposit
- Omai Gold is up 10 per cent, trading at $0.11 at 10:46 a.m. EST
Omai Gold (OMG) is releasing an initial Mineral Resource Estimate (MRE) for the company’s Wenot Gold Deposit at its Omai Project in Guyana.
The MRE shows 16.7 million tones of indicated mineral resources, averaging 1.31 grams of gold per tonne.
That equates to a total of 703,300 ounces of gold.
The Toronto-based mineral exploration company’s estimate also shows 19.5 million tonnes of inferred mineral resources, averaging 1.50 grams of gold per tonne for 940,000 ounces of gold.
The MRE incorporates 10,508 assay results from 549 diamond drill holes totalling 21,541 metres within the mineralized wireframes.
The Wenot Gold Deposit remains open at depth and along strike, and is approximately 400 metres south of the past-producing Fennell open pit.
“This is a very significant milestone for Omai Gold. A Mineral Resource of over 1.6 million ounces of gold 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 that also remains open at depth,” said Omai Gold President and CEO Elaine Ellingham.
The company will focus its 2022 exploration efforts on expanding mineral resources along strike and at depth at the Wenot deposit, while advancing on other priority targets, and revisiting Fennell, which hosts a significant un-mined historical resource, and is also open at depth.
Omai Gold is up 10 per cent, trading at $0.11 at 10:46 a.m. EST.