Acquisition Date

2020 / Jan / 13

Terms

1.0% NSR

Operator

Omai Gold Mines Corp.

The Omai gold mine project is located within the Guiana Shield in the interior of Guyana along the Essequibo River. The property consists of a 100% undivided interest in a 4,590 acre prospecting license granted from the Guyanese government to Omai Gold Mines for an initial period of 3 years. The project is located approximately 60 km from the city of Linden and is accessible by road and airstrip from the capital, Georgetown.

Omai is a past-producing gold mine that opened in 1992 and produced approximately 3.7 Moz gold, making it the largest gold mine in South America at the time. The mine was shut down in 2006, largely due to a weak gold price. As such, there is existing infrastructure on site including building infrastructure, tailings pond, cell service, ferry landing, and an airstrip.

The historic open-pit mine focused on two deposits at the Fennell pit and Wenot pit. Previous drilling indicates that the mineralization in the Wenot pit and the Fennell pit extends below the current put limits, potentially connecting at depth.

In January 2022, Omai announced an initial Mineral Resource Estimate for the Wenot gold deposit of 16.7 Mt of Indicated resources averaging 1.31 g/t gold per tonne for 703,300 oz of gold, and 19.5 Mt of Inferred resources averaging 1.50 g/t per tonne for 940,000 oz gold.

Exploration in 2022 will focus on expanding mineral resources along strike and at depth at Wenot, and revisiting Fennell, which hosts a significant unmined historical resource, and is also open at depth .

Recent Activity

September 2021

The initial 5,000-metre drilling program at the Omai project is complete and a Phase 2 exploration program is underway with two drills. A total 7,323 metres was completed to date this year and highlights include:

  • 21ODD-013: 16.0 m grading 2.2 g/t gold from 373 m and 19.0 m grading 6.9 g/t gold from 467 m;
  • 21ODD-014: 1.5 m of 56.0 g/t gold from 389.3 m; and 12.0 m of 2.1 g/t gold from 440.0 m.
February 2021

Omai has commenced a 5,000 metre diamond core drill program focused on expanding the Wenot Pit. The company plans to use the program to accelerate an updated Mineral Resource estimate planned for late 2021.

Omai Gold Mine

 

Omai Royalty Map
Omai Royalty Map