Omai Gold Mines reported results from 12 diamond drill holes totalling 6,913 metres at its Wenot gold deposit on 12 November, as it works towards a new resource estimate for its Guyana project. The company’s technical release targets the first quarter of 2027 for that update and says results from another 42 holes are still pending.
Two intervals in the central part of Wenot stood out: hole 26ODD-204 returned 4.84 grams of gold per tonne over 38.4 metres, while hole 26ODD-207 returned 12.57 grams per tonne over 5.8 metres. The wider interval and the shorter, higher-grade interval came from different holes. Both lengths are measured along the drill hole, not across the true thickness of the mineralised zone. The numbers describe samples, not how much gold the company could mine or recover.
Why the resource estimate matters more than a single intercept
Omai said it had drilled 106 holes, totalling 50,185 metres, in 2026 as of the release. Of those, 88 came after its April resource update. Five of six active rigs are focused on Wenot, where the company is testing whether closer-spaced drilling can move some mineralisation from the inferred category to the higher-confidence indicated category. A resource update will show how much, if any, actually changes category. It could also show whether drilling extends the resource in areas that were not well covered previously.
For Wenot alone, the April estimate reported about 1.45 million indicated ounces and 4.0 million inferred ounces. That is the baseline to compare with the next estimate. Across Wenot and the adjacent Gilt deposit, Omai reported about 2.5 million indicated ounces and 5.5 million inferred ounces. Those are separate resource categories, not a combined mineable reserve or a count of ounces added by the November drilling.
What would move the project closer to development
The company’s preliminary economic assessment, announced in August, uses the April resource estimate and considers a development that would combine a Wenot open pit with underground mining at Gilt. It is an early economic study, not a feasibility study or a decision to build the mine. The November release says engineering and site investigations are being planned and metallurgical testing is continuing. Those studies test questions that assays alone cannot answer, including how the ore responds to processing and what it would take to build the project.
For investors, the near-term comparison is between April’s resource estimate and the next one: how the size and confidence of the deposit change when the additional drilling is included. For suppliers, feasibility work is a more useful signal than a headline assay. The company’s update did not announce a construction start, project financing or a new supplier tender.
