Omai Gold Mines Corporation was pleased to announce that results from the first two holes of diamond core drilling confirm that high-grade mineralization continues below the historically-producing Wenot Pit.

The Wenot zone was discovered in February 1989 while coincidental geochemical and geophysical anomalies were being drill tested immediately south of the Fennell Pit. Gold was known to exist at surface in the area having been placer mined during the 19th century by a German syndicate. The core drilling of the anomalies not only confirmed the presence of gold from surface through the weathered zones, but also confirmed the presence of gold in the hard rock, allowing the definition of a mineralized east-west trending zone roughly 1.6 km long and 200m wide.

This mineralized corridor ultimately became the Wenot Pit, which produced 1.8 million ounces of gold to a depth of 190m. Previous drilling indicates that the mineralization in the Wenot pit extends below the current pit limits, potentially down to the sill which bisects mineralization in the Fennell pit.

The 5,000-meter drill programme being pursued by Omai is focused on expanding the open-pit potential of the Wenot Pit.

Following the news, Mario Stifano, Chief Executive Officer of Omai Gold Mines, commented: “We are pleased with our assay results from the first two holes we drilled at Omai, that complement the assay results we announced in February.”

He added, “These results demonstrate that the grades and thicknesses of gold mineralization continue at least 100 to 150 meters below the historically-producing Wenot Pit, and remain open to depth and on strike. We look forward to updating our stakeholders with further results from our 5,000-meter drill programme in the coming months.”

It should be noted that Avalon Investment Holdings through its subsidiary, Avalon Gold Exploration Inc., holds a 100% interest in the Omai Prospecting License covering 4,590 acres, including the past producing Omai gold mine.

Guyana Standard understands that Avalon intends to conduct a multi-year exploration campaign with the goal of defining a new gold resource in targets that have not been adequately tested by drilling using new technical expertise by an experienced mine finder team.


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