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Omai Gold Drills 5.89 g/t Au over 12.0m and 8.7 g/t Au over 4.6m at the West Wenot Target
Toronto, Ontario--(Newsfile Corp. - November 13, 2023) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB...
About this update from Omai Gold Mines Corp.
[{"type":"text","content":"Omai Gold Drills 5.89 g/t Au over 12.0m and 8.7 g/t Au over 4.6m at the West Wenot TargetToronto, Ontario--(Newsfile Corp. - November 13, 2023) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) (\"Omai\" or the \"Company\") announces further strong drill results from the Company's Omai gold project in Guyana. These new assays for diamond drill holes 23ODD-066, -067 and -068, combined with the recent drill results further extend the multiple gold-zones of the Wenot deposit, and are expected to positively impact the upcoming Mineral Resource update. Highlights from these recent drill holes include:5.89 g/t Au over 12.0 m8.70 g/t Au over 4.6 m2.45 g/t Au over 8.6 m1.99 g/t Au over 8.1 m1.33 g/t Au over 8.5 mElaine Ellingham, President & CEO, commented: \"These results from the Wenot drilling, together with the string of recent strong results, give an indication of the scope of untapped potential of the Omai gold project. The grades and widths are very favourable for developing an open pit operation, particularly considering the benefits of a brownfields project such as Omai. We have commenced our updated Mineral Resource Estimate, expected before year end. This will be the third NI 43-101 Mineral Resource Estimate in less two years. Once completed, we will advance towards a Preliminary Economic Assessment (\"PEA\"), with certain supporting studies already completed or underway.\"\"The 2023 drilling in addition to expanding the main gold zones at Wenot, has also outlined a wide zone of gold mineralization within the southern sedimentary rock sequence. It appears to be continuous from surface to a depth of at least 300m. Drilling suggests the gold zone increases in width and grade with depth and may merge at depth with the gold zone at the Central Contact Shear. This discovery is expected to have a positive impact on the upcoming resource estimate and bolsters management's belief that the West Wenot target area is well suited to open pit mining (figure 5).\"Based on our work completed over the past two and a half years, we believe that the Omai project is likely to be the next large-scale gold mine to open in Guyana. Brownfields projects can generally expect accelerated timelines and lower capital costs, and Omai will benefit from existing road access (soon to be fully paved), an existing tailings facility (that can be refurbish...