Omai Gold Mines Corp. announced completion of its 2023 Omai drill program, having released a series of strong drilling results from the Wenot gold deposit and extension, located on the Omai property in Guyana. These results will contribute to an updated Mineral Resource Estimate that is currently underway.

As part of the recently completed diamond drilling program, two additional holes were completed on nearby SP and BBH exploration targets, following-up on results from trenching, drilling and modelling of these areas since 2021. One hole, drilled down plunge on the SP high-grade target, intersected two intervals of significant gold mineralization with the true width of the zone or zones yet to be determined. Highlights from this hole 23ODD-069 include: 7.69 g/t Au over 9.5m, 3.42 g/t Au over 15.0m.

A single hole was drilled on the SP Target at the end of the recent drill program. The SP target was initially tested by the Company with two diamond drill holes in 2021 as follow-up to a 1994 hole that intersected 6.9 g/t Au over 21m. The two 2021 holes encountered a few intervals of quartz veining, silicification and minor quartz stockworks, associated with locally strongly sheared intervals within a metavolcanic sequence of basalts and andesites with minor diorite.

The best gold intercepts were 0.65 g/t over 9.0m and 2.39 g/t over 1.6m. These holes appear to have intersected below the plunge of the zone. In 2022, trenching exposed mineralization that was consistent with that encountered in the 1994 drill hole, providing incentive to continue to explore this area.

However, two additional drill holes in 2022 did not intersect any significant quartz or gold intervals (max 2.13 g/t Au over 0.7m), leaving the orientation of the zone unresolved. Additional mapping and modelling of the area earlier this year suggested potential for a plunging gold-bearing shoot or shoots, hosted within structures related to the nearby Gilt Creek intrusion. With this new model, the known gold intersections were aligned and hole 23ODD-069 was drilled down the interpreted plunge to test the modelled orientation and possible extent of this zone.

The hole intersected two intervals of quartz veining, hosting visible gold as well as minor pyrite and chalcopyrite. The first interval assayed 7.69 g/t Au over 9.5m and the second only 7.5m further down the hole returned 3.42 g/t over 15.0m (Table 1). It is not known whether these represent the same zone or two parallel zones, and the true width and continuity cannot be determined at this time.

This hole confirms there is a high-grade gold target in this area warranting additional exploration and the orientation of this target is now better defined for follow-up drilling in 2024. At the Blueberry Hill target, trenching in early 2022 followed up on positive results from two holes drilled in 2021, including hole 21ODD-019 which intersected 1.7 g/t Au over 7.5m, and 3.15 g/t Au over 3.0m. The 2022 trenches exposed deeply weathered, northeast striking quartz-ankerite veinlet stringer zones localized in intermediate metavolcanic rocks and related diorite to quartz diorite intrusive rocks.

Trench samples in early 2022 included 11 samples with six of these assaying over 6 g/t Au, including three that assayed over 10 g/t Au (see news release February 24, 2022). Four holes were drilled in 2022, testing this 500m long target area. The best result was 41.73 g/t Au over 0.9m.

An additional trench completed in August of this year, confirmed favourable gold grades, and a single shallow hole was completed to test immediately beneath the trench. A near surface intercept of 0.94 g/t Au over 0.7m was drilled.