Omai Gold Mines Corp. (TSX VENTURE:OMG) ("Omai" or the "Company")
is pleased to announce the results from a program of logging and
sampling of 6,000 meters of unassayed core from a 2012 drilling
program that had been preserved by the Guyana Geology & Mines
Commission (GGMC). As announced on December 15, 2020, assays from
the first two of these holes,
12WED11 and
12WED13, indicate that high-grade mineralization
extends below the Wenot Pit with additional expansion potential of
gold mineralization into the sedimentary units to the south. The
new results from other holes confirm these conclusions.
Highlights of the assay
results:
- All holes encountered high-grade gold
associated with structural zones and felsic and dioritic
dikes.
- The mineralization extends 100 to 150
meters below the historical pit and remains open at depth.
- Holes drilled from the sediments
towards the Wenot shear (northwards) all show significant and
high-grade mineralization:
• Hole 12WED1B
encountered zones of 7.4 meters of 3.2 grams per tonne
(g/t) gold (Au) and 14.0 meters
of 9.1 g/t Au in lithic wacke sedimentary
rocks south of the Wenot Shear.
• Hole
12WED3B encountered 1.5 meters of 6.9 g/t
Au and 2.5 meters of 6.3 g/t
Au in the limited core available.
• Hole
12WED05 encountered multiple zones including 9.0 meters of
1.6 g/t Au, 3.0 meters of 7.7 g/t Au,
1.5 meters of 10.5 g/t Au and
9.5 meters of 1.6 g/t Au.
• Hole
12WED07B intersected 11.3 meters of 1.8 g/t Au and
3.5 meters of 4.1 g/t Au.
- At the Fennell historical pit, hole
OMU39 encountered 6 meters of 3.8 g/t Au at a
shallow depth in unsampled core above the gabbroic sill.
Mario Stifano, Chief Executive Officer of Omai
Gold Mines, commented: “Current assay results from core that was
drilled in 2012 and not previously sampled demonstrate that the
Wenot grades and thicknesses from historical mining continue below
the historical Wenot Pit. The results are important as not only has
mineralization been extended to depths of 100 to 150 meters below
the pit and remains open to depth, but high-grade gold identified
in the sediments has potential to widen the historical pit. We look
forward to following up on these results with our planned
5,000-meter drill program.”
Summary of assay results
These holes have been incorporated in the
historical drill hole database and review of historical logs to
provide better understanding of controls on mineralization for
planning of the Company’s initial drill program. Highlights include
the section-by-section plotting of high-grade mineralization
associated with felsic and dioritic dikes along deformation zones
(Figure 1).
Of particular note is the extension of
mineralization into the sedimentary package of lithic wacke south
of the Wenot Shear zone (Figure 2). In areas proximal to the
mineralized shear, the frequency of siltier domains dominates.
Where mineralized, the sediments are sheared, altered and
associated with dioritic dikes.
Within the basaltic and andesitic rocks,
multiple mineralized shear structures are defined (Figure 3).
Further drilling is part of the program to expand the open-pit
potential both within the sedimentary rocks and high-grade zones
associated with felsic dikes below the Wenot historical mine.
Figure 1: Plan map of Omai showing holes
logged and
assayed:https://www.globenewswire.com/NewsRoom/AttachmentNg/de0b7d7e-ec9e-4fee-ae3d-ac8a85db14a6
Figure 2: Cross section of hole
12WED01B:https://www.globenewswire.com/NewsRoom/AttachmentNg/3588682d-2028-481b-aae4-305b8ea377a1
Figure 3: Cross section of holes
12WED04, 12WED05 and
12WED03B:https://www.globenewswire.com/NewsRoom/AttachmentNg/0afeafbb-ab6f-46a6-b08f-cbd6ea116a40
Table 1: Significant high-grade
intercepts with intervals > 10 g/t Au.
Hole Number |
Dip |
Azimuth |
From |
To |
Interval (m) |
Au (g/t) |
12WED01B |
-50 |
0 |
70.2 |
77.6 |
7.4 |
3.2 |
|
|
|
159.3 |
173.3 |
14.0 |
9.1 |
12WED02 |
-55 |
180 |
189.0 |
196.5 |
7.5 |
1.7 |
|
|
|
216.0 |
220.5 |
4.5 |
2.4 |
|
|
|
273.4 |
277.3 |
3.8 |
3.8 |
12WED03B |
-55 |
180 |
121.5 |
123.0 |
1.5 |
6.9 |
|
|
|
340.5 |
343.0 |
2.5 |
6.3 |
12WED04 |
-55 |
0 |
294.5 |
296.0 |
1.5 |
10.9 |
12WED05 |
-50 |
180 |
218.0 |
227.0 |
9.0 |
1.6 |
|
|
|
302.5 |
305.5 |
3.0 |
7.7 |
|
|
|
311.5 |
313.0 |
1.5 |
10.5 |
|
|
|
377.0 |
386.5 |
9.5 |
1.6 |
12WED06B |
-50 |
180 |
78.0 |
84.5 |
6.5 |
1.8 |
12WED07B |
-55 |
0 |
368.2 |
379.5 |
11.3 |
1.8 |
|
|
|
547.5 |
551.0 |
3.5 |
4.1 |
12WED08 |
-55 |
180 |
251.5 |
258.6 |
7.1 |
2.5 |
OMU-39 |
-63 |
263 |
71.0 |
77.0 |
6.0 |
3.8 |
12WED11 |
-50 |
0 |
400.5 |
411.0 |
10.5 |
3.9 |
|
|
|
440.1 |
442.1 |
2.0 |
7.7 |
|
|
|
460.0 |
464.5 |
4.5 |
8.0 |
|
|
|
468.5 |
474.4 |
5.9 |
5.3 |
12WED13 |
-50 |
180 |
54.0 |
58.5 |
4.5 |
9.5 |
Note: Significant intercepts > 0.3 g/t and
>10 gm; maximum of 3m internal dilution.
Sample collection, assaying and data
management
Core samples were collected at 1- to 2-meter
intervals and represent ½ of whole NX size core or ¼ of previously
cut core. Standards, blanks and duplicates were entered at regular
intervals. Samples were sealed in plastic bags and shipped to the
Actlabs certified laboratory in Georgetown, Guyana, respecting the
best chain of custody practices. At the laboratory, samples were
dried, crushed up to 80% passing 2 mm, riffle split (250 g), and
pulverized to 95% passing 105 μm, including cleaner sand. 30 g of
pulverized material was then fire assayed by atomic absorption
(AA). Initial assays with results above 3,000 ppb gold were
re-assayed with gravimetric finish. Standards and blanks are with
QA/QC specifications.
Much of the core sampled was ¼ split of core
that had been cut but results were not available. The previous
sampling may have selected the better portions of core, unlike
current practices. As well, there are missing boxes and intervals.
In addition, the core had been moved several times and some core
was rubble in saprolite and areas of broken core. Thus the assay
results reported may understate the grades and intervals. This is
supported by hole 12WED11 which was not previously sampled. All
core has been photographed, geotechnically and geologically logged,
and had susceptibility and XRF measured. Samples are saved for
specific gravity.
Qualified Person
Dr. Dennis LaPoint, PhD, LGeo, is a Qualified
Person (QP) under National Instrument 43-101 "Standards of
Disclosure for Mineral Projects" and has approved the technical
information contained in this news release. Dr. LaPoint is not
considered to be independent for the purposes of National
Instrument 43-101.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
About Omai Gold Mines Corp.
Early prospectors identified Guyana’s vast
mineral wealth 130 years ago, and at the heart of the country’s
gold mining history is the Omai mine: a multi million-ounce deposit
that was once South America’s largest producing gold mine. We’re
building on this past success with new tools, relationships and
vision to bring this under-explored gold district back to life,
providing a unique opportunity for all stakeholders to participate
in value creation.
Avalon Gold Exploration Inc., a wholly owned
subsidiary of Omai Gold Mines Corp., holds a 100% interest in the
Omai Prospecting License covering 4,590 acres, including the past
producing Omai gold mine.
For further information, please see our website
www.omaigoldmines.com or contact:
Mario StifanoPresident and Chief Executive
Officerinfo@omaigoldmines.com
Cautionary Note Regarding Forward-Looking
Statements
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, statements with respect to the expansion potential of
gold mineralization at Wenot into the sedimentary units to the
south. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; delay or failure to receive regulatory
approvals; the price of gold and copper; and the results of current
exploration. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
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