Omai Gold Mines – Exploration And Development Update On Both The Wenot and Gilt Creek Projects In Guyana
Elaine Ellingham, President and CEO of Omai Gold Mines (TSX.V: OMG) (OTC: OMGGF), joins me for an update on all the exploration and derisking work going on at both the Wenot and Gilt Creek Projects across this mineralized gold trend in Guyana, South America.
We start off discussing the large resource in place between the 2 Projects, at over 4.3 million ounces of gold, across this brownfields and past-producing mine site. We review the PEA again on the open pit Wenot Project, which does not yet incorporate the Gilt Creek underground project economics at this point, and only includes about 45% of the mineral inventory. Elaine outlines the potential to keep exploring for mineralization at depth, beneath the pit shell, as well as along strike, and there is a current 10,000 meter drill program underway that kicked off in July. With the completion of their recent financing, Omai has $11 million in the treasury, and they are well positioned both their 2024 and 2025 exploration and development programs. They are considering adding a drill at one point to test a few more targets at the Gilt Creek project and keep expanding resources there.
Next we talk about the infrastructure and social advantages of this brownfield site in Guyana, the support of locals and the government to move this mine back into production. We touch upon the ongoing permitting, metallurgical work, and other derisking work the company is doing in the background to further improve the project economics. There should be a steady stream of exploration newsflow for the balance of this year.
If you have any questions for Elaine regarding Omai Gold Mines, then please email me at Shad@kereport.com.
