These results confirm the continuity of mineralization, the company said. In all, Omai Gold released results from 8,460 metres of diamond drilling to date for 17 holes. The project centres on the Wenot deposit and satellite targets at East Wenot and West Wenot, and Snake Pond. The nearby Gilt Creek deposit to the northeast offers future underground potential.
Drilling targeted both deeper sections and gaps in the open pit mining scenario tabled in an April PEA. The results indicate potential to expand the resource and improve project returns, CEO Elaine Ellingham said in a news release.
Omai plans to update the resource update by March, with the PEA to follow by June.
At the West Wenot area, hole 24ODD-086 returned 2.96 grams of gold over 19.4 metres from a depth of 293.2 metres. It extended known mineralization 100 metres below prior high-grade zones.
Shares gained as much as 8% to C19.5¢ in early trading…
