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Omai Gold Clarifies Technical Disclosure Related to an Exploration Target
(TheNewswire) F ebruary 7, 2022 – TheNewswire - Toront...
About this update from Omai Gold Mines Corp.
[{"type":"text","content":"Omai Gold Clarifies Technical Disclosure Related to an Exploration Target\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n F\n \n \n ebruary 7, 2022 –\n \n \n TheNewswire -\n \n \n Toronto, Ontario\n \n \n —\nOmai Gold Mines Corp. (TSXV:OMG)\n \n \n (OTC:OMGGF)\n \n \n (“Omai Gold” or the “Company”) announces\nthat, as a result of a review by staff of the Ontario Securities\nCommission, the Company is issuing this news release related to the\ndisclosure on the Wenot gold deposit at the Omai Project in\nGuyana.\n \n \n \n \n On January 4, 2022, the Company issued a news release\nannouncing a Mineral Resource Estimate consisting of 16.7 million\ntonnes of indicated mineral resources averaging 1.31 grams of gold per\ntonne for 703,300 ounces of gold, and 19.5 million tonnes of inferred\nmineral resources averaging 1.50 grams of gold per tonne for 940,000\nounces of gold on the Wenot Deposit (the “Wenot Mineral Resource\nEstimate”).\n \n \n This review does\nnot alter the Wenot Mineral Resource Estimate as announced in the\nJanuary 4, 2022 news release.\n \n \n \n \n On page 3 of the press release, it was disclosed that,\nin addition to the pit-constrained Wenot Mineral Resource Estimate,\n“\n \n \n an additional 5.5 million\ntonnes at 1.27 g/t Au of out-of-pit mineralized inventory (non\n \n \n NI 43-101 reportable)\n \n \n is located\n \n \n below the optimized pit shell\n \n \n ” (the “Exploration Target”). This mineralization that\nextends outside of the Wenot Constraining Pit Shell (see image),\nconfirmed by drilling, should have been disclosed as an Exploration\nTarget in compliance with subsection 2.3(2) of NI 43-101. Under\nparagraph 2.3(1)(a) of NI 43-101, a quantity and grade that has not\nbeen categorized as a mineral resource must not be disclosed, and as\nsuch, the Company retracts this statement related to the mineralized\ninventory.\n \n \n \n \n The independent Qualified Person outlined an\nExploration Target of 5 to 7 million tonnes grading between 1.1 to 1.3\ng/t gold for 170,000 to 290,000 ounces outside of the optimized pit\nshell.\n \n \n This was determined from 28 drill holes\nof which 15 were historical. Capped composites from these holes were\nused to determine the gold grade range and a volume range was\ndetermi...