Omai Gold making strides in Wenot project

Omai Gold Mines announced positive results from its first preliminary economic assessment  for the Wenot project – one of two gold deposits located on its past-producing Omai property in Guyana. 

The report supports an initial open-pit mining scenario for production averaging 142,000 ounces of gold per year over a 13-year mine life, with peak year production of 184,000 oz. Total Wenot production is estimated at 1,840,000 oz. of payable gold. 

“This PEA is an important step forward as it converts our successful exploration programs into a baseline production scenario that shows potential for robust economic development for Omai to once again become a large-scale gold producer, supported by the many benefits of a brownfields project including good road access, a nearby skilled workforce and the strong support of government for re-development,” said President and CEO Elaine Ellingham.

“Although we have not included the adjacent Gilt Creek deposit in this PEA economics, we are confident that it will contribute to an overall future mine plan. Since Gilt Creek would be an underground mine, it would have required significant additional engineering, time and cost, and our priority was to establish a baseline valuation for our shareholders. We have fast-tracked the advancement of this project over the past two years and are pleased to deliver these tangible results.”

The initial capital costs for the Wenot project are estimated at US$375.2 million, with life-of-mine sustaining costs estimated at $172 million.

The Omai site is located approximately 165 kilometers south of Guyana’s capital city of Georgetown and is accessible via a major road that connects Georgetown to Brazil.

Source: Omai Gold Mines

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