Omai Gold’s deep discovery doubles potential of Wenot deposit in Guyana

Omai Gold extends Wenot deposit 700 metres deeper in Guyana, doubling resource potential and setting stage for a major 2026 economic update.

Omai Gold Mines (TSXV: OMG; US-OTC: OMGGF) has expanded the depth potential of its flagship Omai project in Guyana, reporting new drill results that significantly extend the Wenot deposit and could double its size.

The company said that hole 25ODD-122W intersected 7.9 metres grading 2.19 grams of gold per tonne from 2,002 metres downhole, revealing multiple gold-bearing zones roughly 700 metres beneath the known Wenot deposit, which spans a 2.5-kilometre strike length. Mineralization remains open at depth, suggesting a much larger mineral system than previously defined.

Analysts call results “transformational”

“This result suggests a doubling of the size potential of Wenot, proving to investors and potential acquirers that the Omai system can support a very long mine life at a high throughput,” said Ben Pirie, mining analyst at Atrium Research in Toronto.

Haywood Securities analyst Jamie Spratt described the findings as “very significant,” adding that while more drilling will be needed to confirm continuity and mineability, the intercepts point toward “a much larger mining scenario” and “two possible underground deposits that could share infrastructure.”

Drilling campaign and upcoming PEA

Omai Gold has now drilled about 30,000 metres at Wenot—double its initial 2025 target—as part of a campaign aimed at expanding both the open-pit and underground resource potential.

The company plans to publish an updated Preliminary Economic Assessment (PEA) in the first half of 2026, which will incorporate the expanded Wenot deposit and the adjacent Gilt Creek underground resource.

Omai ranks as Guyana’s second-largest undeveloped gold project by contained ounces. The site previously produced more than 3.7 million ounces of gold between 1993 and 2005 before operations were halted when gold prices fell below US$400 per ounce.

Resource base and market reaction

As of August 2025, Omai Gold reported 2.12 million ounces of gold in the indicated category grading 2.07 g/t, and 4.38 million ounces inferred at 1.95 g/t.

Following the new discovery, Omai Gold’s shares rose 4% to C$1.29 on the Toronto Venture Exchange, building on an 8.8% gain the previous day. The company’s market capitalization now stands at approximately C$820 million (US$586 million).

“This discovery is a massive win for the company,” Pirie added. “Resource growth is the key catalyst for investors and potential buyers—and there’s no clearer evidence of that than today’s result.”

Historic mine, modern opportunity

Located between Georgetown and Linden, the Omai project benefits from existing infrastructure at the former Omai mine site, which produced gold for over a decade and remains one of Guyana’s best-known mining districts.

The new results confirm the potential for long-life, high-throughput operations, reinforcing Guyana’s growing role as one of South America’s next major gold-producing regions.