Canadian mining firm Omai Gold Mines Corp. has increased its indicated Mineral Resource Estimate by 400,000 ounces of gold within seven months, bringing its total estimated resource base in Guyana to 2.5 million ounces, valued at more than US$11 billion at current gold prices above US$4,500 per ounce.
The updated estimate builds on figures published in August 2025, which placed the company’s two gold deposits, the shear-hosted Wenot Deposit and the adjacent intrusion-hosted Gilt Deposit in Region Seven, at 2.1 million ounces in the indicated category.
The latest assessment reflects significant growth at both sites. The Wenot Indicated Mineral Resource Estimate increased by 49.8 percent to 1,453,000 ounces, while the Wenot Inferred estimate rose by 7.6 percent to 3,999,000 ounces. At the Gilt Deposit, the Inferred estimate surged by 120 percent to 1,465,000 ounces, though the Indicated figure declined by 9.5 percent to 1,042,000 ounces. In total, the project now holds an estimated 2,495,000 indicated ounces and 5,465,000 inferred ounces of gold.
Omai President and Chief Executive Officer Elaine Ellingham said the results reinforce the company’s standing as the largest gold project in Guyana. “With each successive milestone it becomes even clearer that Omai has the potential to be a multi-decade gold mining operation,” she said.
Ellingham highlighted the project’s infrastructure advantages, including road access 10 kilometres from Guyana’s main transport corridor, an on-site airstrip, a cleared site, established tailings facilities, and known metallurgical recoveries. She also noted the government and community support for large-scale mine development.
This marks the company’s fifth Mineral Resource Estimate since returning to Guyana. A Preliminary Economic Assessment is expected within two to three months. Five drilling rigs are currently active as part of a 50,000-metre programme aimed at further expanding and upgrading the resource base.
The historic Omai mine, located in the Cuyuni-Mazaruni region, previously produced 3.8 million ounces of gold between 1993 and 2005, when prices were below US$400 per ounce.
SOURCE: Kaieteur News, “Guyana gold pushes OMAI reserves to 2.5 million ounces,” April 16, 2026
