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Omai Gold Increases Indicated Mineral Resources to 2.0 Million Oz Au and Inferred Mineral Resources to 2.3 Million Oz Au with Expansion of Wenot Deposit
Toronto, Ontario--(Newsfile Corp. - February 8, 2024) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQ...
About this update from Omai Gold Mines Corp.
[{"type":"text","content":"Omai Gold Increases Indicated Mineral Resources to 2.0 Million Oz Au and Inferred Mineral Resources to 2.3 Million Oz Au with Expansion of Wenot DepositToronto, Ontario--(Newsfile Corp. - February 8, 2024) - 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. It includes an expansion to the Wenot Deposit and incorporates the previously disclosed Gilt Creek Deposit. Most significantly, the Wenot Mineral Resource Estimate (\"MRE\") increased the Indicated MRE to 834,000 oz (10% increase) @ 1.48 g/t Au and the Inferred MRE to 1,614,000 oz (45% increase) @1.99 g/t Au. HIGHLIGHTS: The Omai Property hosts two gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusive-hosted Gilt Creek Deposit (figure 5), with combined updated MRE (over the October 2022 MRE) of:1,985,000 ounces of gold (Indicated MRE), a 4% increase2,279,000 ounces of gold (Inferred MRE), a 28% increase Wenot Deposit (a constrained pit approach is applied)834,000 ounces of gold (Indicated), a 10% increase over the October 2022 MRE, and1,614,000 ounces of gold (Inferred), a 45% increase1.48 g/t Au grade of Indicated MRE, a 10% increase 1.99 g/t Au grade of Inferred MRE, a 16% increase 87% above 350m depth from surface (figure 1a)39% of Wenot MRE is west of the historical pit, an area considered to be well suited to initial mining (figure 1b) Excellent exploration potential is evident along a 2.5 km length of the host Wenot shear corridor, with potential to expand within, adjacent to, below, and along strikeGilt Creek Deposit (an underground mining approach is applied)1,151,000 ounces of gold (Indicated) at a grade of 3.22 g/t Au, as per October 2022 MRE665,000 ounces of gold (Inferred) at a grade of 3.35 g/t Au, as per October 2022 MREHosted within a 500 m by 300 m quartz diorite intrusive stock that produced 2.4 million ounces of gold (1993 to 2005) from the upper 250mLocated 500 m north of the Wenot Deposit and below the past-producing Fennel pitCharacterized by very wide sub-horizontal zones of gold mineralization (figure 4)Open to depth and holds potential for lateral expansionPreliminary Economic Assessment (\"PEA\")This updated MRE will form the basis of the PEA, currently underway and expected to be announced in Q...