Omai Gold Mines Stock Price, News & Analysis

Omai Gold Mines Corp. (OTCQB: OMGGF; TSXV: OMG) is a Canadian gold exploration and development company advancing the 100%-owned Omai Gold Project in mining-friendly Guyana, South America. The project hosts two orogenic gold deposits, the shear-hosted Wenot Deposit and the adjacent intrusive-hosted Gilt Creek Deposit, which together form a multi-million-ounce gold system on the historic Omai mine site.

Core Project and Deposits

The Omai Property hosts two distinct but related orogenic gold deposits: the Wenot Deposit, located along the Wenot shear corridor, and the Gilt Creek Deposit, located within the Omai quartz diorite intrusive stock approximately 500 metres north of Wenot. According to an updated NI 43-101 Mineral Resource Estimate announced in August 2025 and supported by a Technical Report dated October 9, 2025, the combined Wenot and Gilt Creek deposits contain Indicated Mineral Resources and Inferred Mineral Resources totalling several million ounces of gold.

For Wenot, the updated Mineral Resource Estimate reports 970,000 ounces of gold (Indicated) grading 1.46 g/t Au in 20.7 million tonnes and 3,717,000 ounces of gold (Inferred) grading 1.82 g/t Au in 63.4 million tonnes, using an open pit and underground constrained approach. The company states that approximately 60% of the Wenot Mineral Resource lies above 350 metres depth from surface, and that about 30% of the Wenot Mineral Resource Estimate is located west of the historical open pit, in an area considered well suited to initial mining.

For Gilt Creek, the NI 43-101 Mineral Resource Estimate comprises 1,151,000 ounces of gold (Indicated) averaging 3.22 g/t Au in 11.1 million tonnes and 665,000 ounces of gold (Inferred) averaging 3.35 g/t Au in 6.2 million tonnes, using a 1.5 g/t Au cut-off and a US$1,700/oz gold price. The Gilt Creek deposit is described as a 500 metre by 300 metre intrusion-hosted orogenic gold deposit characterized by very wide sub-horizontal zones of gold mineralization and is open to depth with demonstrated potential for lateral expansion.

Historic Production and Infrastructure

The Omai site is a former producing gold mine. The company reports that the Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 2005, ceasing operations when the gold price was below US$400 per ounce. The upper portion of the Gilt Creek deposit, hosted within the Omai quartz diorite stock, produced approximately 2.4 million ounces of gold from the upper 250 metres during that period. The site benefits from existing infrastructure and is connected, or expected to be connected, by road to Guyana’s two largest cities, Georgetown and Linden.

Exploration Focus and Growth Strategy

Omai Gold describes its strategy as being focused on rapidly expanding the two orogenic gold deposits at the Omai Gold Project and advancing economic studies. The company has reported an aggressive diamond drilling program with multiple rigs active on the property. Drilling has targeted:

• Expansion of the Wenot open pit deposit along strike, on the flanks and at depth.
• Further delineation and verification of the Gilt Creek underground deposit, including very long mineralized intervals within the Omai intrusive stock.
• Exploration of near-surface targets such as the BBH target and Camp Zone for potential higher-grade satellite deposits.

The company notes that drilling at Wenot has confirmed expansion potential along a minimum 2.5 kilometre length of the Wenot shear corridor, including within, adjacent to, below and along strike of the known deposit. A deep drill hole (25ODD-122W) intersected multiple gold zones within the down-dip extension of the Wenot Shear Corridor at a depth of approximately 700 metres below the previously known Wenot mineralization, which the company describes as a “proof of concept” for significant depth potential.

Mineral Resource Estimates and Technical Reports

Omai Gold has filed NI 43-101 Technical Reports on SEDAR+ in support of its Mineral Resource Estimates and Preliminary Economic Assessment (PEA). A Technical Report dated May 21, 2024 presented an updated Mineral Resource Estimate and a baseline PEA for an open pit-only development scenario that included a portion of the then-current Mineral Resource. A subsequent Technical Report dated October 9, 2025 titled “Updated Mineral Resource Estimate and Technical Report on the Omai Gold Property, Potaro Mining District No.2, Guyana” supports the August 25, 2025 Mineral Resource update, which significantly increased both Indicated and Inferred resources for the project.

The company states that the 2025 Mineral Resource Estimate reflects the success of ongoing drilling programs and reinforces the scale of the Omai assets as a multi-million-ounce gold system. It has indicated plans to prepare an updated PEA to incorporate the expanded Wenot open pit deposit and the adjacent Gilt Creek underground deposit.

Exploration Targets: Wenot, Gilt Creek, BBH and Camp Zone

At Wenot, drilling has intersected multiple gold zones hosted within stockwork vein systems and associated alteration halos in sedimentary rocks, volcanic rocks, and dike corridors, including the central quartz feldspar porphyry (CQFP) unit that typically occurs at the contact between sediments and volcanics. Reported drill results include high-grade intervals in central Wenot and a new high-grade zone at East Wenot, as well as mineralization in the southern sedimentary sequence that the company notes could contribute to reducing future strip ratios in open pit scenarios.

At Gilt Creek, drilling has confirmed extensive gold mineralization within the Omai quartz diorite intrusive stock and surrounding volcanics. A reported drill hole (25ODD-122W) intersected a 708.1 metre interval averaging 1.06 g/t Au, with multiple higher-grade sub-intervals, and provided structural and metallurgical information for mine planning. The company notes that approximately 80% of the Gilt Creek Mineral Resource lies at vertical depths between 280 metres and 600 metres.

The BBH target is described as a broad near-surface exploration area defined by trenches, shallow drill holes and sampling, where flat-lying, saprolite-hosted ladder veins and other gold mineralization have been identified along an interpreted 600 metre trend. The Camp Zone lies approximately 300–500 metres west of the Wenot deposit along the projected Wenot shear corridor and has returned near-surface gold intercepts along a strike length of about 450 metres, which the company views as prospective for potential satellite pits.

Permitting and Community Engagement

Omai Gold reports that it has progressed along the permitting pathway in Guyana. The company notes that it received an interim environmental permit from Guyana’s Environmental Protection Agency that enables certain site work, engaged ERM International to assist with an Environmental Impact Assessment (EIA) application, and submitted the EIA application. It also reports completion of formal community consultations with assistance from the Environmental Protection Agency of Guyana and indicates an intention to advance project development in compliance with local and international standards, with ongoing community and stakeholder engagement.

Corporate and Financing Activities

The company has undertaken equity financings to support exploration and development. In 2025 it reported closing a bought-deal private placement of common shares for gross proceeds of approximately C$40 million, following an earlier bought-deal private placement in February 2025. Omai Gold states that net proceeds are being used for exploration drilling, resource studies, permitting initiatives, economic assessments and general working capital.

Technical Oversight and Reporting Standards

Omai Gold’s public technical disclosures reference compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects and the CIM Definition Standards for Mineral Resources and Mineral Reserves. The company identifies Qualified Persons (QP) responsible for reviewing and approving technical information, including geologists and independent consultants. It also describes internal quality assurance and quality control (QA/QC) procedures for sampling and assaying, including the use of certified reference materials, blanks and duplicates, and the use of accredited laboratories in Georgetown, Guyana.

Risk and Uncertainty in Mineral Resource Estimates

In its news releases, Omai Gold includes cautionary language emphasizing that Mineral Resources are estimates that involve inherent uncertainty and have not demonstrated economic viability unless converted to Mineral Reserves. The company notes that Inferred Mineral Resources have a lower level of confidence than Indicated Mineral Resources and must not be converted to Mineral Reserves. It also states that Mineral Resource Estimates may be affected by factors such as environmental, permitting, legal, title, taxation, socio-political, marketing and other risks, and may require re-estimation as new data and studies become available.

Frequently Asked Questions

The following FAQs summarize key aspects of Omai Gold Mines Corp. based on its public disclosures.