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• Omai announced the assay results from 11 holes totalling 2,615m from two near-surface and recently identified exploration targets outside of the Wenot and Gilt Creek resources.
• Drilling continues to accelerate with five drills turning at Wenot and YTD meterage over 30,000m (over double the 15,000m originally planned).
• The deep hole testing the at-depth potential below the Wenot deposit ended at a downhole depth of 2,014m (assays pending).
• Updated PEA has been pushed to H1/26 as a result of the significant expansion to the Wenot deposit. We view this delay as a positive and remind investors that this update will include the Gilt Creek deposit (which was not included in the 2024 PEA).
This morning, Omai Gold Mines (OMG:TSXV, OMGGF:OTC) announced assay results from its ongoing 2025 drill program at its Omai Gold Project in Guyana. Results were reported for 11 holes from two newly identified near-surface exploration targets, totalling 2,615m, bringing the drilling YTD to 64 holes and 30,297m, more than double the originally planned 15,000m 2025 program. Today’s results (six holes from the BBH target and five holes from the Camp Zone) both intersected strong near-surface mineralization near the Wenot and Gilt Creek deposits. Despite the clear focus being on resource growth at Wenot, these new exploration targets could be key in identifying new satellite deposits as well as showing further regional resource growth potential. We are maintaining our BUY rating and $1.60/share target price on Omai Gold Mines.
Drill highlights from today’s reported holes:
BBH Target:
• Hole 25ODD-131: 20.33 g/t Au over 5.3m, including 35.61 g/t over 3m.
Camp Zone Target:
• Hole 25ODD-135: 2.72 g/t Au over 16.3m, including 9.05 g/t over 4m.
• Hole 25ODD-136: 2.05 g/t Au over 7.5m, including 11.32 g/t over 1m.
• Hole 25ODD-138: 0.85 g/t Au over 12.7m, including 1.32 g/t over 6m.
As mentioned, the deep hole 25ODD-122, planned to test the blue-sky potential at depth below the Wenot open pit, is now complete, having reached a downhole depth of 2,014m (Figure 1). As mentioned, this hole is designed to show investors the depth potential of the Wenot deposit (~600m below the current known mineralization).
OMG: High-Grade Discovered at New Targets; 5 Drills at Wenot
What you need to know:• Omai announced the assay results from 11 holes totalling 2,615m from two near-surface and recently identified exploration targets outside of the Wenot and Gilt Creek resources.
• Drilling continues to accelerate with five drills turning at Wenot and YTD meterage over 30,000m (over double the 15,000m originally planned).
• The deep hole testing the at-depth potential below the Wenot deposit ended at a downhole depth of 2,014m (assays pending).
• Updated PEA has been pushed to H1/26 as a result of the significant expansion to the Wenot deposit. We view this delay as a positive and remind investors that this update will include the Gilt Creek deposit (which was not included in the 2024 PEA).
This morning, Omai Gold Mines (OMG:TSXV, OMGGF:OTC) announced assay results from its ongoing 2025 drill program at its Omai Gold Project in Guyana. Results were reported for 11 holes from two newly identified near-surface exploration targets, totalling 2,615m, bringing the drilling YTD to 64 holes and 30,297m, more than double the originally planned 15,000m 2025 program. Today’s results (six holes from the BBH target and five holes from the Camp Zone) both intersected strong near-surface mineralization near the Wenot and Gilt Creek deposits. Despite the clear focus being on resource growth at Wenot, these new exploration targets could be key in identifying new satellite deposits as well as showing further regional resource growth potential. We are maintaining our BUY rating and $1.60/share target price on Omai Gold Mines.
Drill highlights from today’s reported holes:
BBH Target:
• Hole 25ODD-131: 20.33 g/t Au over 5.3m, including 35.61 g/t over 3m.
Camp Zone Target:
• Hole 25ODD-135: 2.72 g/t Au over 16.3m, including 9.05 g/t over 4m.
• Hole 25ODD-136: 2.05 g/t Au over 7.5m, including 11.32 g/t over 1m.
• Hole 25ODD-138: 0.85 g/t Au over 12.7m, including 1.32 g/t over 6m.
As mentioned, the deep hole 25ODD-122, planned to test the blue-sky potential at depth below the Wenot open pit, is now complete, having reached a downhole depth of 2,014m (Figure 1). As mentioned, this hole is designed to show investors the depth potential of the Wenot deposit (~600m below the current known mineralization).
Underlying
OMAI GOLD MINES CORP
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Atrium Research Corporation
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Ben Pirie
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