# Omai Gold Announces Preliminary Economic Assessment for Its Omai Project, Guyana Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae Original source: https://money.tmx.com/en/quote/OMG/news/5688832521866609/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana Publisher: tmx Original announcement: 2026-08-19T11:03:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Omai Gold Mines Corp. - Ticker: OMG - Exchange: TSX - Region: Guyana - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Economic study, Metallurgy - Extracted: 2026-09-18 14:27:20 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Omai Gold announced positive results from a Preliminary Economic Assessment \(PEA\) for its Omai Project in Guyana. The PEA outlines an 18-year mine life producing 6.327 million ounces of gold with a post-tax NPV5% of $4.0 billion and an IRR of 24% at a $3,600/oz gold price. Initial capital costs are estimated at $1.427 billion, with all-in sustaining costs of $1,608/oz. The study is based on an April 2026 Mineral Resource Estimate that includes a significant inferred component. Reasoning: The PEA demonstrates robust economics for a large-scale gold project, but its preliminary nature and reliance on inferred resources introduce some uncertainty regarding project execution and financing. - Positive factor: Strong NPV and IRR for a large-scale gold project - Positive factor: Long mine life and high annual gold production - Positive factor: Existing infrastructure benefits from past production - Positive factor: Non-refractory metallurgy with high recovery - Negative factor: Preliminary nature of the PEA study - Negative factor: Significant reliance on inferred mineral resources - Negative factor: High initial capital expenditure Facts used in scoring: 8 ## Classification and evidence **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("CIL"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 7. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae#fact-resource-facts-1) Omai Property · gold #### Identity - Project: Omai Property - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Effective date: 2026-04-07T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, P.Eng. - Resource group id: resource:a11877621248cb332b0e - Deposit or zone: Wenot shear-hosted deposit - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 28400000 - Grade: 1.59 - Grade Unit: g/t - Contained Metal: 1.453 - Contained Unit: moz - Cutoff Grade: 0.3 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Wenot deposit contributes a substantial indicated resource to the overall project, providing a solid foundation for the PEA, though it is complemented by a larger inferred component. - Positive factor: Significant indicated resource for the Wenot deposit - Positive factor: Forms a key part of the PEA mine plan Evidence · text > The Wenot deposit comprises 1.453 Moz averaging 1.59 g/t Au \(28.4 Mt\) in the Indicated category #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae#fact-resource-facts-2) Omai Property · gold #### Identity - Project: Omai Property - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Effective date: 2026-04-07T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, P.Eng. - Resource group id: resource:ccbae4d14143b5ac53ca - Deposit or zone: Wenot shear-hosted deposit - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 92400000 - Grade: 1.35 - Grade Unit: g/t - Contained Metal: 4 - Contained Unit: moz - Cutoff Grade: 0.3 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Wenot deposit holds a very large inferred resource, indicating substantial exploration upside, but its classification as inferred means it is considered speculative for economic considerations. - Positive factor: Very large inferred resource for the Wenot deposit - Positive factor: Provides significant potential for future resource upgrades - Negative factor: High proportion of inferred resources, which are speculative geologically Evidence · text > and a further 4.00 Moz averaging 1.35 g/t Au \(92.4 Mt\) in the Inferred category. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae#fact-resource-facts-3) Omai Property · gold #### Identity - Project: Omai Property - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Effective date: 2026-04-07T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, P.Eng. - Resource group id: resource:4598c5e07442f13ba12e - Deposit or zone: Gilt intrusion-hosted deposit - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9700000 - Grade: 3.33 - Grade Unit: g/t - Contained Metal: 1.04 - Contained Unit: moz - Cutoff Grade: 1.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Gilt deposit offers a high-grade indicated resource, which is a positive for the project's overall economics and supports the underground mining component. - Positive factor: High-grade indicated resource for the Gilt deposit - Positive factor: Provides a strong underground component to the mine plan Evidence · text > The Gilt deposit hosts an Indicated MRE of 1.04 Moz of gold averaging 3.33 g/t Au \(9.7 Mt\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae#fact-resource-facts-4) Omai Property · gold #### Identity - Project: Omai Property - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Effective date: 2026-04-07T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, P.Eng. - Resource group id: resource:8c2c1b9cf56165955ace - Deposit or zone: Gilt intrusion-hosted deposit - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 14200000 - Grade: 3.22 - Grade Unit: g/t - Contained Metal: 1.47 - Contained Unit: moz - Cutoff Grade: 1.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The Gilt deposit's high-grade inferred resource adds substantial potential to the project, but its inferred status means further work is needed to increase confidence for economic studies. - Positive factor: High-grade inferred resource for the Gilt deposit - Positive factor: Adds significant potential ounces to the project - Negative factor: Inferred classification indicates lower geological confidence Evidence · text > and Inferred of 1.47 Moz of gold averaging 3.22 g/t Au \(14.2 Mt\). #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae#fact-resource-facts-5) Omai Property · gold #### Identity - Project: Omai Property - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Effective date: 2026-04-07T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, P.Eng. - Resource group id: resource:09232eacef4197960c99 - Deposit or zone: Omai Property - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 38100000 - Grade: 2.04 - Grade Unit: g/t - Contained Metal: 2.495 - Contained Unit: moz - Cutoff Grade: 0.27 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The project's total indicated resource is significant, providing a robust and higher-confidence portion of the overall resource base for the PEA. - Positive factor: Substantial total indicated resource for the project - Positive factor: Provides a strong foundation for economic studies Evidence · text > comprised of 2.495 Moz Au averaging 2.04 g/t Au \(in 38.1 Mt\) in the Indicated category #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae#fact-resource-facts-6) Omai Property · gold #### Identity - Project: Omai Property - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Resource scope - Estimate type: resource - Effective date: 2026-04-07T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Alan J. San Martin, P.Eng. - Resource group id: resource:66621fd59ce830500d3d - Deposit or zone: Omai Property - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 106600000 - Grade: 1.59 - Grade Unit: g/t - Contained Metal: 5.465 - Contained Unit: moz - Cutoff Grade: 0.27 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-04-07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The project's total inferred resource is very large, providing substantial long-term potential, but its classification as inferred means it carries a higher degree of geological uncertainty. - Positive factor: Very large total inferred resource for the project - Positive factor: Offers significant potential for future growth and upgrades - Negative factor: High proportion of inferred resources, indicating lower geological confidence Evidence · text > and a further 5.465 Moz Au averaging 1.59 g/t Au \(in 106.6 Mt\) in the Inferred category. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (1) ### carbon-in-leach [Link to this fact](https://atlas-extractions.minestarters.com/news/omai-gold-announces-preliminary-economic-assessment-for-its-omai-project-guyana--d4b63892-4f57-466c-9300-27813089d0ae#fact-metallurgical-facts-7) Omai Project · gold #### Identity - Project: Omai Project - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: OMG #### Test Work - Program Status: detailed - Test Type: carbon-in-leach - Processing Route: grinding, gravity separation, and carbon-in-leach \(CIL\) - Sample: clean, non-refractory gold mineralization, free of deleterious components - Leach Time: 32 hours #### Recovery - Recovery: 93 % - Recovery Basis: actual\_test - Head Grade: 1.35 - Head Grade Unit: g/t Au #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-19T00:00:00.000Z Reasoning: The reported high gold recovery and favorable metallurgical characteristics \(non-refractory, no deleterious elements\) are very positive for the project's processing economics, though the exact test scale could provide more confidence. - Positive factor: High gold recovery \(93%\) for a CIL process - Positive factor: Non-refractory mineralization, free of deleterious components - Positive factor: Standard and proven CIL flowsheet - Negative factor: Specific test scale \(e.g., pilot, locked-cycle\) not explicitly detailed Evidence · text > Average gold recovery is estimated at 93% based on historical recoveries and results from recent metallurgical test work which indicate clean, non-refractory gold mineralization, free of deleterious components. Optimal recovery is achieved at 32-hour leach retention time. #### Tags used in scoring **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The 93% gold recovery is at the exceptional band for a CIL processing route. Evidence · text > Average gold recovery is estimated at 93% **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: The mineralization is described as clean, non-refractory, and free of deleterious components. Evidence · text > clean, non-refractory gold mineralization, free of deleterious components **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The processing facility is based on a standard metallurgical flowsheet consisting of grinding, gravity separation, and carbon-in-leach \(CIL\). Evidence · text > conventional 25,000 tpd processing facility based on a standard metallurgical flowsheet, consisting of grinding, gravity separation, and carbon-in-leach \("CIL"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.