OMAI Gold Mines Corp. on Tuesday announced the presence of an estimated 1.6 million ounces of gold at its Wenot Pit in Region Seven (Cuyuni – Mazaruni), igniting hopes it can return to the days when its operation here was classed as the largest gold mine in South America.
“This is a very significant milestone for Omai Gold, said Elaine Ellingham, President and Chief Executive Officer.
“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.”
She said 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.
In a release, the company outlined that 2022 exploration will now focus on expanding mineral resources along strike and at depth at the Wenot Pit.
It also has plans to advance on other priority targets, and revisit the Fennell Pit, which OMAI Gold said hosts a significant unmined historical resource.
The company said too that this Wenot mineral resource attests to the potential to expand the known deposits and together with the Fennell Pit’s mineral resource, demonstrates the potential to re-build OMAI into a multi-million-ounce project.
“Our exploration team is to be especially congratulated for delivering results while safely facing the challenges presented by the COVID-19 pandemic,” Ellingham stated.
Omai Gold said it produced over 3.7 million ounces of gold between 1993 and 2005.
The company explained that since it operated and was shut-down during a sub-US$400/oz gold price environment, known extensions to the Wenot and Fennell open pits were not pursued, nor were the many near-mine exploration targets
Omai Gold Mines Corp., through its wholly-owned subsidiary Avalon Gold Exploration Inc., holds a 100% interest in the Omai Prospecting License covering 4,590 acres (18.575 sq. km) that includes the past-producing Omai gold mine, and a 100% interest in the adjoining Eastern Flats Mining Permits covering 1,519 acres.
