Omai Gold Increases Indicated Mineral Resources to 2.5 Moz Au at 2.04 g/t Au (38.1 Mt) and Inferred to 5.5 Moz Au at 1.59 g/t Au (106.6 Mt) with Expansion of Wenot and Gilt Deposits
Original announcement by tmx on
- Company
- Omai Gold Mines Corp.
- Ticker
- OMG
- Exchange
- TSX
- Region
- Guyana
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-09-18 15:01:06 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Omai Gold has updated its Mineral Resource Estimate for the Omai Gold Property in Guyana, reporting a combined Indicated resource of 2.5 Moz Au at 2.04 g/t Au and an Inferred resource of 5.5 Moz Au at 1.59 g/t Au. The update is driven by significant expansion at the Wenot and Gilt deposits, supported by a higher gold price assumption of $3,000/oz.
Reasoning: The update delivers substantial resource growth, particularly in the Wenot Indicated category, driven by successful conversion of Inferred material and higher gold price assumptions, despite some grade dilution in Inferred zones.
Positive factors
- Significant tonnage and ounce growth in Wenot Indicated category
- Substantial Inferred expansion at Gilt Deposit
- Increased gold price assumption used in modeling
- Expansion of mineralization footprint at both deposits
Negative factors
- Grade decline in Wenot Inferred category
- Indicated tonnage decrease at Gilt Deposit
Facts used in scoring: 6
Classification and evidence
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: Combined Indicated tonnage increased from 31.9 Mt to 38.1 Mt
Evidence · text
“a 17.6% increase, averaging 2.04 g/t Au in 38.1Mt”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Combined Indicated gold increased from 2.12 Moz to 2.50 Moz
Evidence · text
“2,495,000 ounces of gold (Indicated MRE), a 17.6% increase”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: Wenot Indicated ounces increased by 483,000 oz due to conversion of Inferred material
Evidence · text
“The recent drilling successfully added 483,000 ounces to bring Wenot's Indicated MRE to 1.45 million ounces, representing a 49% increase.”
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: Wenot Inferred grade decreased by 25.8% from 1.82 g/t to 1.35 g/t
Evidence · text
“1.35 g/t Au grade of Inferred MRE, a 25.8% decrease (from 1.82 g/t Au)”
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: Gilt Indicated tonnage decreased by 9.5% in ounces
Evidence · text
“Gilt's Indicated MRE decreased by 9.5% to 1,042,000 oz”
QP/CP Signedpositive
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: Alan J. San Martin, P.Eng. is named as the Qualified Person
Evidence · text
“Mr. Alan J. San Martin, P.Eng., Principal Resource Geologist of SLR, and Elaine Ellingham, M.Sc., P.Geo. are both Qualified Persons (QPs)”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Resource estimated in accordance with NI 43-101 standards
Evidence · text
“The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Standards on Mineral Resources and Reserves Definitions (2014)”
Cut-off Disclosedpositive
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The source explicitly discloses a revised resource estimate
Evidence · text
“updated Mineral Resource Estimate”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Resource Estimates (6)
indicatedOmai Gold Property · goldTonnes: 38100000Grade: 2.04Grade Unit: g/tContained Metal: 2495000Contained Unit: ozView all detailsHide details
Identity
- Project
- Omai Gold 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, Elaine Ellingham
- Resource group id
- resource:b272502e5e1869138b50
- Deposit or zone
- Omai Gold Property
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 38100000
- Grade
- 2.04
- Grade Unit
- g/t
- Contained Metal
- 2495000
- Contained Unit
- oz
- 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
- 2026-04-14T00:00:00.000Z
Reasoning: Combined property-wide indicated resource shows strong growth in both tonnage and contained metal.
Positive factors
- Significant tonnage and ounce growth
Evidence · text
“combined updated MRE (over the August 2025 MRE) of: 2,495,000 ounces of gold (Indicated MRE), a 17.6% increase, averaging 2.04 g/t Au in 38.1Mt”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
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
inferredOmai Gold Property · goldTonnes: 106600000Grade: 1.59Grade Unit: g/tContained Metal: 5465000Contained Unit: ozView all detailsHide details
Identity
- Project
- Omai Gold 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, Elaine Ellingham
- Resource group id
- resource:b997ee98c596ccdeaeaa
- Deposit or zone
- Omai Gold Property
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 106600000
- Grade
- 1.59
- Grade Unit
- g/t
- Contained Metal
- 5465000
- Contained Unit
- oz
- 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
- 2026-04-14T00:00:00.000Z
Reasoning: Significant increase in inferred ounces provides substantial exploration upside.
Positive factors
- Large scale expansion of inferred resource
Evidence · text
“5,465,000 ounces of gold (Inferred MRE), a 24.7% increase, averaging 1.59 g/t Au in 106.6 Mt”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
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
indicatedOmai Gold Property · goldTonnes: 28400000Grade: 1.59Grade Unit: g/tContained Metal: 1453000Contained Unit: ozView all detailsHide details
Identity
- Project
- Omai Gold 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, Elaine Ellingham
- Resource group id
- resource:6f3a0b788fe55e8dc97c
- Deposit or zone
- Wenot Deposit
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 28400000
- Grade
- 1.59
- Grade Unit
- g/t
- Contained Metal
- 1453000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-07
- Prior Tonnes
- 20700000
- Prior Grade
- 1.46
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-14T00:00:00.000Z
Reasoning: Strong conversion of inferred to indicated material at Wenot.
Positive factors
- Significant ounce increase via conversion
- Grade improvement
Evidence · text
“Wenot Indicated MRE increased to 1.45 million ounces ("Moz") of gold with an average grade of 1.59 g/t Au, contained in 28.4 million tonnes ("Mt")”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 28400000 against 20700000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 1.59 against 1.46 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
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
inferredOmai Gold Property · goldTonnes: 92400000Grade: 1.35Grade Unit: g/tContained Metal: 3999000Contained Unit: ozView all detailsHide details
Identity
- Project
- Omai Gold 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, Elaine Ellingham
- Resource group id
- resource:e14816e2feeb424d8f10
- Deposit or zone
- Wenot Deposit
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 92400000
- Grade
- 1.35
- Grade Unit
- g/t
- Contained Metal
- 3999000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-07
- Prior Tonnes
- 63400000
- Prior Grade
- 1.82
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-14T00:00:00.000Z
Reasoning: Inferred grade declined due to conversion of high-grade material to indicated and addition of lower-grade extensions.
Positive factors
- Ounce growth
Negative factors
- Grade decline
Evidence · text
“Wenot Inferred MRE increased to 3,999,000 oz grading 1.35 g/t Au, contained in 92.4 Mt.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 92400000 against 63400000 previously
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1.35 against 1.82 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
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
indicatedOmai Gold Property · goldTonnes: 9700000Grade: 3.33Grade Unit: g/tContained Metal: 1042000Contained Unit: ozView all detailsHide details
Identity
- Project
- Omai Gold 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, Elaine Ellingham
- Resource group id
- resource:22737af8c350dfbe37aa
- Deposit or zone
- Gilt Deposit
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 9700000
- Grade
- 3.33
- Grade Unit
- g/t
- Contained Metal
- 1042000
- Contained Unit
- oz
- 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
- 2026-04-14T00:00:00.000Z
Reasoning: Indicated resource at Gilt saw a slight decrease in ounces due to more restrictive classification and higher cut-off.
Positive factors
- Grade increase
Negative factors
- Ounce decrease
Evidence · text
“Gilt's Indicated MRE decreased by 9.5% to 1,042,000 oz averaging 3.33 g/t Au (in 9.7 Mt)”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
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
inferredOmai Gold Property · goldTonnes: 14200000Grade: 3.22Grade Unit: g/tContained Metal: 1465000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Omai Gold 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, Elaine Ellingham
- Resource group id
- resource:38aec775a40022ddcd9f
- Deposit or zone
- Gilt Deposit
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 14200000
- Grade
- 3.22
- Grade Unit
- g/t
- Contained Metal
- 1465000
- Contained Unit
- oz
- Cutoff Grade
- 1.7
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-04-07
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-04-14T00:00:00.000Z
Reasoning: Significant expansion of Inferred resource at Gilt due to new deep drilling and re-examination of upper zones.
Positive factors
- Massive ounce increase
Negative factors
- Grade decline
Evidence · text
“Gilt's Inferred MRE increased 120% to 1,465,000 oz averaging 3.22 g/t Au (in 14.2 Mt)”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
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
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.