Omai Gold Mines Corp. (TSXV: OMG) (“Omai” or the “Company”) is
pleased to report that the 2021 drilling program has been completed
on the Wenot gold deposit at its Omai project in Guyana. Drilling
commenced in late November on the Broccoli Hill target area.
Results for the final three diamond drill holes at Wenot are
reported, with highlights including¹:
- 15.2 grams per tonne gold (“g/t
Au”) over 6.0 metres (“m”), 1.38 g/t over 16.5 m and 1.8 g/t over
13.5 m in hole 21ODD-024 (Section 305730E)
- 2.3 g/t Au over 10.5 m in hole
21ODD-025 (Section 305300E)
- 2.12 g/t Au over 10.5 m and 1.15
g/t over 19.5 m in hole 21ODD-026 (Section 305840E)
¹ A list of mineralized intervals in holes
21ODD-024, 025 and 026 appear in Table 1. Hole locations are
provided on Table 2 and are shown in Figure 1.
At Wenot, a program of 16 diamond drill holes
(8,181 m) was completed in 2021. Every hole intersected the wide
deformation corridor that hosts multiple, near-vertical, gold
mineralized shears. A longitudinal section (figure 2) shows the
drill holes testing along the strike length of the mineralization
beneath the past producing pit. This drilling confirms that the
mineralized zones continue to depths of at least 150 to 225 m
beneath the past producing pit and extend along the full 1.7 km
strike. The Wenot pit produced 1.4 million ounces2 of gold at an
average grade of 1.5 g/t Au between 1994 and 2003.
A comprehensive list of the 2021 Wenot drill
results is provided on our website
www.omaigoldmines.com/press-releases/. The best
intersections from the 2021 program reported to date include:
- 21ODD-001: 9.0 g/t Au over 16.0 m
and 3.6 g/t over 13.5 m
- 21ODD-002: 3.6 g/t Au over 32.1
m
- 21ODD-008: 6.6 g/t Au over 9.0
m
- 21ODD-009: 36.2 g/t Au over 2.0
m
- 21ODD-013: 6.92 g/t Au over 19.0
m
- 21ODD-021: 5.16 g/t Au over 8.4
m
- 21ODD-022: 16.77 g/t Au over 6.0 m
and 4.63 g/t Au over 20.0 m
- 21ODD-023: 3.30 g/t Au over 14.1
m
- 21ODD-024: 15.20 g/t Au over 6.0
m
An independent Qualified Person (“QP”) with
P&E Consulting completed a site visit during the first week of
November and is advancing towards a NI 43-101 mineral resource
estimate for the Wenot deposit, which is expected to be completed
before year end.
Elaine Ellingham, CEO, commented, “Completing
the drilling of the Wenot deposit along a 1.7 km strike length and
to depths of 150 to 225 metres below the pit is a great achievement
for this year. The continuity of the deformation zone that hosts
the deposit has proven to extend to depth with mineralization at
similar grades and widths as was seen in the upper parts of the
deposit, and these zones remain open with further depth potential.
Every drill hole completed at Wenot intersected multiple gold
mineralized zones. We look forward to delivering our first NI
43-101 resource before year end.”
“We commenced field exploration in late
September on one of our next priority targets, Broccoli Hill. It
has been an area of small scale and artisanal mining operations
within the saprolite for over a hundred years, but surprisingly has
seen relatively little modern exploration or drilling. Our
trenching and mapping has already uncovered clusters or packets of
quartz veinlets, similar to those that often host gold
mineralization at Omai. A limited initial drill program commenced a
few weeks ago to test some of these exposed quartz veinlet systems,
areas identified by our trenching, and the historic gold anomalies
defined by soil and auger sampling. The drilling will also provide
a better understanding of the bedrock geology of this sizeable
target area. Its proximity to the Fennell deposit just 200 metres
to the west, that produced 2.4 million ounces of gold², together
with similarities in the geophysical signature, has suggested the
potential for another Fennell-type deposit. We look forward to
results from our initial drilling in the next week or two.”
² 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.
Quality Control
Omai maintains an internal QA/QC program to
ensure sampling and analysis of all exploration work is conducted
in accordance with best practices. Standards, blanks and duplicates
are entered at regular intervals. Samples are sealed in plastic
bags and shipped to ActLabs, a 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.
Qualified Person
Elaine Ellingham is a Qualified Person under
National Instrument 43-101 "Standards of Disclosure for Mineral
Projects" and has approved the technical information contained in
this news release. Ms. Ellingham is not considered to be
independent for the purposes of National Instrument 43-101.
Table 1. New Assay Results from Recently
Completed Drill Holes
Hole ID |
Includes |
From |
To |
Interval (m) |
Gold grade (grams per tonne) |
21ODD-024 |
|
226 |
227.4 |
1.4 |
2.69 |
|
259.5 |
265.5 |
6.0 |
15.15 |
includes |
262.5 |
264.0 |
1.5 |
57.27 |
|
292 |
293.5 |
1.5 |
1.25 |
|
346 |
349.5 |
3.5 |
1.06 |
|
358.5 |
375 |
16.5 |
1.38 |
includes |
363 |
366 |
3.0 |
4.74 |
|
420 |
427.5 |
7.5 |
0.78 |
includes |
424.5 |
426 |
1.5 |
2.37 |
|
439 |
452.5 |
13.5 |
1.8 |
|
501.5 |
518 |
16.5 |
0.69 |
includes |
504.5 |
507.5 |
3.0 |
1.1 |
and |
515 |
518 |
3.0 |
1.1 |
|
|
|
|
|
|
21ODD-025 |
|
110.5 |
114 |
3.5 |
2.54 |
includes |
111.8 |
113.2 |
1.4 |
5.02 |
|
150.5 |
152 |
1.5 |
3.10 |
|
235 |
236.5 |
1.5 |
1.54 |
|
260.5 |
263.5 |
3.0 |
2.72 |
includes |
262 |
263.5 |
1.5 |
5.11 |
|
335 |
345.5 |
10.5 |
2.30 |
includes |
339.5 |
342.5 |
3.0 |
5.24 |
|
447.5 |
450 |
2.5 |
2.10 |
includes |
447.5 |
448.5 |
1.0 |
3.70 |
|
459 |
460.7 |
1.7 |
1.58 |
|
466 |
467.2 |
1.2 |
3.16 |
|
469.5 |
471 |
1.5 |
1.13 |
|
|
|
|
|
|
21ODD-026 |
|
165.5 |
168.5 |
3.0 |
1.18 |
|
203.5 |
205 |
1.5 |
1.18 |
|
323 |
325.3 |
2.3 |
1.88 |
includes |
323 |
324.5 |
1.5 |
3.10 |
|
387.5 |
389 |
1.5 |
2.78 |
|
403.2 |
413.8 |
10.6 |
2.12 |
includes |
403.2 |
412 |
8.8 |
2.50 |
|
445 |
464.5 |
19.5 |
1.15 |
includes |
448 |
449.5 |
1.5 |
5.65 |
|
502.5 |
504 |
1.5 |
1.85 |
Table 2. Summary of Wenot Final Three Drill Holes (see Figure 1,
Drill plan map)
Hole ID |
Azimuth (degrees) |
Declination (degrees) |
Final Depth (m) |
Easting |
Northing |
Status |
21ODD-024 |
180 |
-50 |
559 |
305730 |
601800 |
Completed |
21ODD-025 |
180 |
-50 |
503 |
305300 |
601855 |
Completed |
21ODD-026 |
180 |
-50 |
521 |
305840 |
601735 |
Completed |
² 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.
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 and prime
exploration targets untested. The Company’s short-term priorities
are to verify and expand the known resources, while advancing
exploration on key 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 Ellingham, P.Geo.President &
CEOelaine@omaigoldmines.comPhone:
+1-416-473-5351
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.
Cautionary Note Regarding Forward-Looking
Statements
This 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 the timing of completion of
the drill program, and the potential for the Omai gold project to
allow Omai to build significant gold resources at attractive
grades, and 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.
Figure 1. Wenot Diamond Drilling – Plan
Maphttps://www.globenewswire.com/NewsRoom/AttachmentNg/10556298-fd57-488a-8757-6fd126c5d7a8
Figure 2. Wenot Longitudinal Section (looking
north) (yellow holes are 2021 drill
program)https://www.globenewswire.com/NewsRoom/AttachmentNg/7b0889c4-fc34-4a95-83a1-04f581a27cec
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