Omai Gold Mines (TSXV:OMG) has reported the results of further drilling operations at their gold project based in Omai, Guyana. The report covers five additional holes, including four for exploratory purposes and one specifically at Wenot, focusing on exploring both the deeper extensions of the central portion of the known deposit as well as the additional, shallower, northern gold zones.
Elaine Ellingham, President & CEO, commented in a press release: “Similar to our excellent drill results from a couple of weeks ago, these new results again confirm the significant expansion potential for the Wenot deposit, to depth as well as along the flanks. Hole 23ODD-063 results previously released show a very wide 42-75 m zone of gold mineralization at the west end of the deposit, from a 110m to 290 metre depth, with evidence it extends to surface. Hole 23ODD-064 is located 1.25 kilometres east of hole 063, again demonstrating the continuity of the multiple shear-hosted gold zones that extend along a minimum 2.5 km strike.”
“In the first half of the year, we pursued some of the nearby exploration targets and we remain confident that there are additional gold deposits on this well endowed Omai gold property. However, given the large NI 43-101 Mineral Resource Estimate1 established late last year, we believe our drill budget is best focused on: 1) testing some of the undrilled gaps within the Wenot deposit model, 2) expanding the western “starter pit” area, and 3) providing evidence of the blue-sky potential for the Wenot deposit at depth. Results to date are already expected to positively impact the resources as we move forward to an updated mineral resource estimate to be followed by a decision on a preliminary economic assessment (“PEA”) later this year.”
The project’s progress this year is impressive, with eleven holes totalling 3,570 metres being completed so far in 2023. An interesting highlight includes Hole 23ODD-064, which establishes the consistency of the gold-bearing structures at Wenot at least 100m below the current resource model. Its notable intersection suggests that the Wenot gold grades tend to increase with depth.
The mineralization at the Wenot deposit, as evidenced by Hole 23ODD-064, is typical of the location. Gold mineralization was visible in 19 distinct locations along the core and was usually found within quartz veining and adjacent alteration halos.
Regrettably, due to the sheer width of the shear, a single drill hole at the targeted depths makes it challenging to drill across the entire width. This suggests that untested additional zones may still exist within the southern sedimentary rocks.
The gold zones in the three drill holes correlate well with each other, and the higher grade and wider gold zones found in holes 23ODD-063 and 12ODD-064 are expected to contribute positively to the next updated Mineral Resource Estimate for Wenot.
Results from four more exploration holes have also been received. Hole 23ODD-059, while encountering brecciated volcanics with silicification and alteration, did not yield any anomalous gold. Meanwhile, holes 23ODD-060 and 061 on Broccoli Hill found several narrow gold-bearing quartz veinlets. The large size of Broccoli Hill suggests that these holes may not have fully tapped into the potential of the area.
The Brother gold target was tested by single Hole 23ODD-062 but did not yield significant gold findings. Another Hole 23ODD-065 was completed in Wenot’s western area, with sampling in progress, and hole 23ODD-066 has begun. The company currently has a cash position of over $2 million, sufficient to complete the planned drilling and the updated mineral resource planned for later this year.
Highlights from the results are as follows:
Table 1. Drill Results for Holes 23ODD-59 to 23ODD-62 and 23ODD-64
|23ODD-059||no significant results|
|23ODD-062||no significant results|
**True widths vary as mineralization at Wenot is generally hosted within stockwork vein systems with alteration halos, with an estimated true width range of 70-90%. Cut off grade 0.30 g/t Au with maximum 4m internal dilution.
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