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• Today’s results highlight the existence of other high-grade gold targets nearby the existing resources which could be important in providing low-cost high-grade mill feed in the early years of an operation.
• OMG plans to release an updated Mineral Resource Estimate over the coming weeks, which will be followed by a Preliminary Economic Assessment in H1/24.
• We released an updated interview with CEO Elaine Ellingham, watch here.
This morning, Omai Gold Mines Corp. (OMG:TSXV, OMGGF:OTC) announced the completion of its 2023 Omai Project drill campaign and drill results for two additional holes completed on the nearby SP and BBH exploration targets. One of the two exploration holes, which tested a historical high-grade target at SP, intersected two high-grade gold zones of 7.69 g/t Au over 9.5m and 3.42 g/t Au over 15.0m. This hole was drilled down plunge and the true width of the zone or zones are yet to be determined (more detail below).
The Company also announced the pending updated Mineral Resources Estimate (MRE) is expected to be released at year-end or early in the new year. The MRE will immediately be used in the preparation for a Preliminary Economic Assessment (PEA) which is likely to be released in H1/24. Several supporting studies for the PEA are already underway. We are maintaining our BUY rating and target price of $0.30/share on OMG.
OMG: Completes 2023 Drill Campaign with Solid Results
What you need to know:• Today’s results highlight the existence of other high-grade gold targets nearby the existing resources which could be important in providing low-cost high-grade mill feed in the early years of an operation.
• OMG plans to release an updated Mineral Resource Estimate over the coming weeks, which will be followed by a Preliminary Economic Assessment in H1/24.
• We released an updated interview with CEO Elaine Ellingham, watch here.
This morning, Omai Gold Mines Corp. (OMG:TSXV, OMGGF:OTC) announced the completion of its 2023 Omai Project drill campaign and drill results for two additional holes completed on the nearby SP and BBH exploration targets. One of the two exploration holes, which tested a historical high-grade target at SP, intersected two high-grade gold zones of 7.69 g/t Au over 9.5m and 3.42 g/t Au over 15.0m. This hole was drilled down plunge and the true width of the zone or zones are yet to be determined (more detail below).
The Company also announced the pending updated Mineral Resources Estimate (MRE) is expected to be released at year-end or early in the new year. The MRE will immediately be used in the preparation for a Preliminary Economic Assessment (PEA) which is likely to be released in H1/24. Several supporting studies for the PEA are already underway. We are maintaining our BUY rating and target price of $0.30/share on OMG.
Underlying
OMAI GOLD MINES CORP
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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