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Omai Gold Increases Indicated Mineral Resources to 1.9 Million Ounces (171% Increase) and Inferred Mineral Resources to 1.8 Million Ounces (89% Increase) with Addition of Gilt Creek Deposit and Expansion of Wenot Deposit
Toronto, Ontario--(Newsfile Corp. - October 20, 2022) - Omai Gold Mines Corp. (TSXV: OMG) ...
About this update from Omai Gold Mines Corp.
[{"type":"text","content":"Omai Gold Increases Indicated Mineral Resources to 1.9 Million Ounces (171% Increase) and Inferred Mineral Resources to 1.8 Million Ounces (89% Increase) with Addition of Gilt Creek Deposit and Expansion of Wenot DepositToronto, Ontario--(Newsfile Corp. - October 20, 2022) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) (\"Omai Gold\" or the \"Company\") is pleased to report an updated Mineral Resource Estimate on its 100%-owned Omai gold property in Guyana. The property hosts two gold deposits, the shear-hosted Wenot deposit and the adjacent intrusive-hosted Gilt Creek Deposit (Figure 1). This updated Mineral Resource Estimate includes an expansion to the Wenot Mineral Resource which was announced January 20221 and incorporates the Gilt Creek Deposit that lies below a former pit that produced 2.4 million ounces of gold (Figure 2). Together, these deposits contribute to a more than doubling of the Company's Mineral Resource Estimate on the Omai Property.OMAI MINERAL RESOURCE ESTIMATE UPDATE HIGHLIGHTS: 1,907,600 ounces of gold (Indicated) Mineral Resource Estimate (\"MRE\"), a 171% increase over the January MRE of 703,300 ounces 1,777,600 ounces of gold (Inferred), an 89% increase over the January MRE of 940,000 ouncesThe MRE includes:1) Gilt Creek DepositNewly introduced into the Company's Mineral Resource Estimate, hosted within a 500 m by 300 m quartz diorite intrusive stockLocated 500 metres (\"m\") north of the Wenot Deposit and below the past-producing Fennell Pit 1,151,000 ounces of gold (Indicated) at a grade of 3.22 g/t Au665,000 ounces of gold (Inferred) at a grade of 3.35 g/t AuFor the purposes of this MRE, an underground mining approach is applied Open to depth and holds potential for lateral expansion2) Wenot DepositUpdates the initial MRE for Wenot, announced only nine months ago in January 20221756,600 ounces of gold (Indicated), an 8% increase over the initial Jan 2022 MRE1,112,600 ounces of gold (Inferred), an 18% increase1.34 g/t Au grade of Indicated MRE, a 2% increase 1.72 g/t Au grade of Inferred MRE, a 15% increase For the purposes of this MRE, a constrained pit approach is appliedExcellent exploration potential along the Wenot shear corridor that hosts this depositElaine Ellingham, President & CEO commented, \"We are extremely pleased with the results of this updated 2022 Mineral Resource Estimate. ...