Omai Gold Mines Corp (TSX-V:OMG) revealed that first diamond drilling at its Omai gold project in Guyana has extended the Wenot deposit to the west.
Two holes stepped out to the west and one hit 5.01 grams per ton (g/t) gold over 8.5 metres (m) from 215m depth.
The other intersected 2.32 g/t of the yellow metal over 17.1m starting from 246.9m depth. This intercept is down dip of a zone drilled by shallow 1990's holes, which hit 21m at 1.5 g/t gold and 6m at 1.88 g/t, suggesting continuity of this zone from surface down to at least a 140m depth, said the firm.
"We are very pleased that our drilling has established that the Wenot shear zone extends to the west and continues to host significant gold mineralization," said Elaine Ellingham, CEO of Omai in a statement.
"The gold mineralization in these new holes is similar to the main zones at Wenot. We recently deployed the second drill to commence step out drilling on the eastern extension of the Wenot deposit, roughly two kilometers to the east.
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"Our objective is to work towards a revised NI 43-101 Wenot resource, assuming favourable results continue as we explore both the east and west extensions of the Wenot shear.
"Expanding the Wenot resource into these un-mined areas is significant for an ultimate mine plan as these could contribute to lower-strip-ratio starter pits for the larger Wenot deposit," she added.
In January this year, the company released an initial resource estimate for the Wenot deposit, which showed 703,300 ounces of gold in the indicated category and 940,000 ounces in inferred.
Also in today's statement were assays from five diamond holes, for 1,213m in four target areas west of the Fennell pit and to the southwest of the Wenot pit.
Three drill holes were completed in the Blueberry Hill area, with highlight results including 0.9m at 41.74 g/t gold from 150.6m depth.
Another trench, following on from six large trenches reported in February, which showed high grade gold, was also completed on the eastern side of Blueberry Hill with one channel sample showing 5.13 g/t gold over 1m.
Omai Gold Mines, via its wholly-owned subsidiary Avalon Gold Exploration, holds a 100% interest in the Omai prospecting license that includes the past producing Omai Gold Mine, and a 100% interest in the adjoining Eastern Flats mining permits.
Once South America's largest producing gold mine, Omai produced over 3.7 million ounces of gold between 1993 and 2005.
The company, in the short term, wants to build on the known resources, while advancing exploration on key targets in a bid to create significant value for all stakeholders.
Contact the writer at giles@proactiveinvestors.com