Omai Gold Mines Corp. (TSXV: OMG) ("Omai" or the "Company") is
pleased to report that exploration has commenced on the East Wenot
Extension and on the Broccoli Hill target, at the Omai property in
Guyana.
The current drilling program that focused on the
Wenot deposit beneath the past producing pit, was completed
yesterday. The program consisted of 16 holes totalling 9,367
metres, with final assay results pending. P&E Mining
Consultants are engaged as the independent Qualified Person and
have commenced the Wenot resource study. This allows the technical
team to initiate a broader exploration program on the Omai property
to include drilling the extension of the Wenot deposit to the east,
plus the Broccoli Hill target, both located near the past-producing
pits.
East Wenot Extension
The Wenot Shear Corridor is part of a wide
east-west trending gold-mineralized geological structure with 3
kilometres of drill-indicated strike length across the property.
The Wenot pit, covering roughly 1.7 km of the strike length of this
structure, produced 1.4 million ounces of gold1 to a depth of 190
metres. Like the classic regional shear structures that host many
of central Canada’s significant gold mines, several episodes of
crustal deformation were focused along this shear structure
creating permeable fracturing to significant depths, that allowed
hydrothermal fluids to invade and deposit gold within the open
fractures and breaks.
Drilling is scheduled to start in mid-November,
to explore the eastern extension of the Wenot shear. Work will
commence from the eastern end of the pit (~306000E) and continue
along an initial 800 metres, following the trend of the shear. This
area has seen no commercial mining, however abundant pitting in the
surficial alluvial material attests to gold that has attracted
small scale miners. Significant gold mineralization has been
identified in this area by several shallow holes drilled along this
trend from 1993-95 but testing to depths of only 50 to 75 metres
into fresh rock.
1 Past production at Omai is summarized in several Cambior Inc.
documents available on Sedar.com, including March 31, 2006 AIF and
news release August 3, 2006.
Gold was intersected on ten 50-metre spaced
section lines, with the best intersections (west to east) including
21m @ 1.3 g/t Au (306130E), 27 m @ 3.6 g/t Au (in saprolite), 9 m @
2.6 g/t Au (306380E) and 15m @ 1.9 g/t Au(306530E) (see figure 1
and figure 2). Since the holes were short, they did not fully test
the width of the shear corridor in this area, nor the depth extent
of the gold mineralization. The drilling, scheduled to commence in
mid-November, will focused on expanding the known mineralization
and evaluating the potential for a near-surface economic deposit in
this area.
Figure 1. East Wenot – Plan
Maphttps://www.globenewswire.com/NewsRoom/AttachmentNg/fd27939c-bdef-4200-aac6-eefe96ba885e
Figure 2. East Wenot - Cross Section 306130E (looking
west)https://www.globenewswire.com/NewsRoom/AttachmentNg/99e54e20-3610-4a6e-aeba-b648cd722d92
Broccoli Hill
Broccoli Hill (“BH”) is a conspicuous hill that
sits less than 300 metres east of the Fennell pit and 300 metres
north of the Wenot pit. Combined, these two pits produced over 3.7
million ounces of gold1. BH has been an attraction for artisanal
miners for over 100 years and has seen minor surficial exploration
for several decades. Previous auger and soil surveys have
identified numerous gold anomalies on BH, including one auger hole
that sampled 12.4 g/t Au from a 4 to 6 meters depth in saprolite
adjacent to a large area of pork knocker (artisanal miner) activity
(Figure 3). The abundance of past placer gold workings in the
lowlands flanking the hill, together with the numerous scattered
artisanal workings on the hill itself suggests a gold source
somewhere on BH. It is a very compelling target, interestingly,
with little to no drilling.
Figure 3. Broccoli Hill – Soil and auger
sampling & Artisanal
mininghttps://www.globenewswire.com/NewsRoom/AttachmentNg/5842110d-1c2a-48c6-81c4-e73e70571064
Airborne geophysics completed in 2020 shows a
magnetic-low signature over BH, a characteristic of the adjacent
Fennell deposit. At Fennell, gold occurs within a series of
relatively flat lying structures within a quartz diorite plug known
as the “Omai Stock”, with a diameter at surface of roughly 400
metres. At Zijin’s Aurora Mine, located approximately 200 km
northwest of Omai, their Rory’s Knoll gold deposit which is often
compared to the Omai stock, has a footprint only 200-metres in
diameter. Broccoli Hill, covering an area of about 500 m by 700 m,
with the underlying bedrock still of unknown affinities, certainly
has the potential to host such a deposit.
Figure 4. Aeromagnetic data (red = magnetic
highs; blue = magnetic
lows)https://www.globenewswire.com/NewsRoom/AttachmentNg/24c368eb-5991-4cf1-97b8-88d6b10f12dd
Field work at Broccoli Hill commenced in late
September with trenching and mapping to investigate the underlying
geology, in order to better identify drill targets. The
tropical environment of Guyana creates a pervasive thick saprolite
weathering and often an overlying ferruginous laterite that
effectively conceal and mask bedrock geology.
The excavator on site was sent to Broccoli Hill
to open up trenches and some of the old roads, and to develop a
trail along the ridge crest. The work was done to improve access
and to expose saprolite for mapping and sampling. The trenching was
successful at exposing saprolite and a significant area was found
to have an abundance of quartz crystals or grains in the
ferricrete. It is possible that these quartz grains, which appear
to be floating in the ferruginous matrix of hematite, goethite and
jarosite, and in some exposures could represent a residual texture
of a quartz-rich intrusive underlying portions of Broccoli Hill. It
is also possible that a Fennell-type intrusive may not come to
surface and would require deeper drilling. Two to three drill
holes, planned for late this year, will target some of the best
gold anomalies in the soil and auger sampling, areas of pork
knocker workings and areas possibly underlain by granitic
intrusives. These initial drill holes will provide valuable
information on the bedrock underlying BH to direct further
drilling.
Fennell Target
Fennell is one of primary targets on the Omai
property, based on results of a 46-drill hole exploration program
completed by Iamgold in 2007. This drilling identified a
significant gold deposit beneath the past producing pit.
The Fennell pit produced 2.4 million ounces
between 1993 and 20041. It was mined to a depth of 250m where it
bottomed at a barren diabase sill. After production ceased, Iamgold
completed the exploration beneath the sill and completed a resource
report. Impressive results included 43 intersections of over 1
oz/ton over one metre, as well as a few samples with over 1000
oz/ton Au over one metre. This drilling reached a maximum depth of
about 960 metres with the deepest holes ending in mineralization,
suggesting even further depth potential.
Omai has started modelling this historic data
and plans to initiate a drill program on the Fennell target in Q2
of next year. This work will require deeper holes to verify the
historic resource (to be NI 43-101 compliant) and to explore the
depth extent of this mineralization.
Elaine Ellingham, CEO commented “Completing the
drilling to support the Wenot resource study is quite an
achievement for the new Omai team. With this accomplished, we are
very excited to step out to explore some of the other prime
near-mine targets. Areas such as Broccoli Hill and East Wenot have
excellent potential for both significant new discoveries and for
expanding known zones of mineralization. Wenot East is
one of those areas where limited historic drilling identified very
interesting gold mineralization, but was not pursued. These offer
great opportunities for us to test the extent of these zones and
assess their economic potential. We expect to begin
drilling the East Wenot Extension and to complete a couple of
initial holes at Broccoli Hill before the holiday break in
December.”
Sample collection, assaying and data
management
Standards, blanks and duplicates are entered at
regular intervals. Samples are sealed in plastic bags and shipped
to the ActLabs certified laboratory in Georgetown, Guyana,
respecting the best chain of custody practices. At the laboratory,
samples are dried, crushed up to 80% passing 2 mm, riffle split
(250 g), and pulverized to 95% passing 105 μm, including cleaner
sand. 30 g of pulverized material are then fire assayed by atomic
absorption (AA). Initial assays with results above 3,000 ppb gold
are re-assayed with gravimetric finish. Standards and blanks meet
with QA/QC specifications.
John C. Spurney, is a Qualified Person (QP) under National
Instrument 43-101 "Standards of Disclosure for Mineral Projects"
and has approved the technical information contained in this news
release. Mr. Spurney is not considered to be independent for the
purposes of National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
About Omai Gold Mines Corp.
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. Once South
America’s largest producing gold mine, Omai produced over 3.8
million ounces of gold between 1993 and 2005. Mining ceased at a
time when the average gold price was less than US$400 per ounce,
leaving significant drilled resources untapped. The Company’s
short-term priorities are to verify and expand the known resources,
while advancing exploration on nearby targets, providing a solid
opportunity to create significant value for all stakeholders.
For further information, please see our website
www.omaigoldmines.com or contact:
Elaine EllinghamPresident &
CEOelaine@omaigoldmines.comPhone: +1-416
473-5351
Cautionary Note Regarding Forward-Looking StatementsThis news
release includes certain “forward-looking statements” under
applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to timing and results of the drill program, and completion of an
initial Inferred Resource for Wenot. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to general business, economic,
competitive, political and social uncertainties; delay or failure
to receive regulatory approvals; the price of gold and copper; and
the results of current exploration. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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