Gilt Creek Deposit Gold Mineralization Proves Extensive

TORONTO – Omai Gold Mines Corp. reported on the second hole drilled on the Gilt Creek gold deposit. The Gilt Creek deposit is one of two orogenic gold deposits at its 100%-owned Omai Gold Project in Guyana. Hole 25ODD-122(w) drilled 708m of the Omai Stock, an intrusive rock unit that produced 2.4 million ounces of gold between 1993-20052 from the upper portion from surface to a vertical depth of approximately 250m. Hole 25ODD-122(w) was drilled from surface to a total depth of 2,014m with results previously report for the lower part of the hole that confirmed the presence of the adjacent Wenot deposit at a depth of approximately 1,200m, or 700m below the known Wenot gold mineralization. Hole 122w showed that the Wenot shear at this depth hosted seven significant gold zones. The upper part of hole 122(w) was drilled from surface through a mafic volcanic sequence, then through the known diabase dike, and first intersected significant gold mineralization at a vertical depth of approximately 260m. Gold mineralization proved extensive throughout the Gilt Creek intrusion and extends into the surrounding volcanic rocks as well. A 708.1m interval in Hole 122(w) averaged 1.06 g/t Au with multiple intervals with higher grades.
Elaine Ellingham, President & CEO, said, “The much awaited results from Hole 122 further confirm the extent of gold mineralization within and beyond the known deposit. These assay results from the upper part of the 2,014m long hole show the robust and continuous nature of the gold-mineralized regime within the Gilt Creek quartz-diorite intrusive stock. This new hole, together with our earlier hole 095, provide valuable structural data for rock mechanics and material for metallurgical sampling, both that allow us to advance our mine plan for our upcoming updated Preliminary Economic Assessment (PEA) that will include the Gilt Creek deposit. Due to the extent of mineralization and abundance of visible (coarse) gold, all samples >0.5 g/t Au were also assayed using a metallic screening process that provides a more representative total grade than fire-assay on a 50g sample alone. The downside was the additional turnaround time.
Mineralization in the Gilt Creek deposit first occurs just 46m downhole with 1.37 g/t Au over 7.5m in saprolite and ends at 2,014m with 3.61 g/t Au over 4.4m within less than 5m of the end of the hole in the adjacent Wenot deposit. This long hole across the two deposits exemplifies the sheer extent of gold mineralization on the Omai property.”
The Gilt Creek orogenic gold deposit is located less than 500m north of the Wenot deposit, which has been the focus of most of the Company’s drilling and resource expansion, as Wenot is predominantly an open pit target. The Gilt Creek gold deposit is hosted mostly within the Omai quartz diorite stock, but gold zones also occur within the adjacent volcanic rocks.
Hole 25ODD-122(w) was collared on the northwest flank of the old Gilt Creek pit. This is also at the eastern end of the recently drilled near-surface BBH gold trend. In fact, the initial gold zone in hole 122 of 1.71 g/t Au over 6.0m occurs in saprolite within 40m of surface and is part of the BBH target area. Hole 122 then drilled through mafic volcanic rocks to a downhole depth of 299m where it intersected the well-known diabase dike, with a true thickness of approximately 138m. Hole 122 was wedged within the diabase dike in order to flatten it sufficiently to reach the ultimate projected target depth under Wenot for this hole. It continued as hole 122w.
Below the diabase dike but before drilling into the intrusive complex, both hole 095 and 122 drilled a small interval of the surrounding mafic volcanics. In hole 122w, a gold zone within the volcanics assayed 3.10 g/t Au over 24.0m. Similarly in hole 095 the volcanics hosted gold mineralization, with assays of 2.09 g/t Au over 10.5m and a second zone of 1.59 g/t Au over 7.5m.
The Gilt Creek intrusive complex was first intersected at 367.5m downhole, continuing to 1078.5m, a total of 711m, with gold mineralization throughout much of this. All 711m of the Gilt Creek Intrusive drill core was sampled and 226 of the 572 samples or 40% assayed greater than 0.5 g/t Au. Interestingly, Iamgold drilled approximately 27,000m in 46 holes in 2006-7 in this lower part of the Gilt Creek deposit and similarly had 41% of the samples assaying greater than 0.5 g/t Au. Hole 24ODD-095 also had 39% of Gilt Creek samples assaying over 0.5 g/t Au.
The Gilt Creek drill holes (24ODD-095 and 25ODD-122) achieve several objectives; they: 1) assist in mine planning and metallurgical studies that will facilitate inclusion of Gilt Creek into an updated Preliminary Economic Assessment (“PEA”) mine plan expected in H1 2026, 2) test and verify historical drilling and at the same time explore the lateral extent of gold mineralization beyond that previously identified, and 3) assist in the geological modelling of the Gilt Creek deposit in order to assess the overall exploration potential and extent of this very large gold system on the broader Omai property.
To facilitate mine planning, a televiewer system surveyed hole 095 in early 2025, together with select holes at the Wenot deposit. This optical and acoustic system provides detailed in-situ mapping of all rock structures, giving quality data to guide mine design and assist in a greater understanding of the structural geology. Neither hole 122(w) nor hole 095 encountered any high pressure or noteworthy water return during drilling or televiewer surveying.
Hole 122 was designed to continue much further, to test the adjacent Wenot gold deposit that lies only 450m south of the Gilt Creek deposit. The hole reached an impressive downhole depth of 2,014m and was successful in encountering the Wenot shear corridor at 1,739m downhole. It continued through 275m of the shear corridor, still within the Wenot shear zone at the end of the hole and with significant mineralization of 3.61 g/t Au over 4.4m, including VG within 5m of the end of the hole. Seven significant gold zones were encountered in this depth extension of Wenot, at the bottom of this same hole 122(w).
As noted upon the completion of hole 095, the sheer extent of gold mineralization within the Gilt Creek intrusive is impressive. By applying the same cut-off grade of 1.5 g/t Au as was used in the resource estimate3 (established for a US$1,700/oz gold price), a cumulative 150.4m (not continuous) has a weighted average grade of 3.20 g/t Au, very similar to the resource grade. In hole 095, it was noted that 198.3m (not continuous) has a weighted-average grade of 2.78 g/t Au, both comparable with the resource grade.