Omai Gold Mines CEO & Director Mario Stifano gives a presentation at the February 2021 Virtual Investor Day (VID) Conference. Mario outlines the company’s flagship 100%-owned Omai gold mine asset, located in Guyana in South America. Omai is located in the Guiana Shield, which has seen significant exploration on the African side and features many world-class assets, but much less on the South American side. There are two historical open pit gold pits at Omai: the Wenot pit (which was mined to a depth of 190 m) and the Fennell Pit. Wenot is open at depth and along strike, and Fennell has some expansion potential at depth, along with a high priority target to the east called Broccoli Hill. At Wenot, Omai believes at the time it was mined, there was a much poorer understanding of the mineralization than exists today (following decades of new information on the Guiana Shield that has been revealed from other deposits). The company believes there will be significant gold to be found in the sediments, which was never a focus by IAMGold. Omai will look to commission a maiden 43-101 resource at Wenot by the end of 2021 and recently began a 5,000 meter drill program at this target. Following completion of that, expected around the end of May, Omai will shift its drilling focus to Fennell and Broccoli Hill; trenching at Broccoli Hill is expected to begin shortly ahead of drilling. The Wenot drill program is fully-funded, and Omai expects to raise more capital following further assays being released from Wenot to fund its drilling activities at Fennell and Broccoli Hill. With respect to infrastructure, the Omai property has an airstrip, various buildings for housing employees and a core shed. Even though this is a former producing mine, the Guyanese government gave Omai full indemnity with respect to environmental liability, as there is no liability given IAMGold’s excellent job of reclamation. Omai has two significant shareholders: Silvercorp Metals (TSX: SVM / NYSE: SVM) which holds 15.1% and Sandstorm Gold Royalties (TSX: SSL / NYSE: SAND) which holds 9.9%.

00:00 – Presentation Section

28:20 – Q&A Session

Leave a Reply

Your email address will not be published. Required fields are marked *

Name *
Email *