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 orestocks on
- Company
- Omai Gold Mines Corp.
- Ticker
- OMG
- Exchange
- TSXV
- Region
- Guyana
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-10-01 04:20:19 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Omai Gold has announced an updated Mineral Resource Estimate for its Omai Gold Property in Guyana, significantly increasing total project ounces. The update features a 49.8% increase in Wenot Indicated gold ounces and a 120.3% increase in Gilt Inferred gold ounces, supported by a higher gold price assumption of $3,000/oz.
Reasoning: The update delivers substantial scale increases in gold ounces across the project, driven by both expansion and category conversion, despite some grade dilution in the Inferred categories.
Positive factors
- Significant tonnage and ounce growth in both Indicated and Inferred categories
- Successful conversion of Inferred to Indicated at Wenot (+49.8% ounces)
- Major expansion of Gilt Inferred resource (+120.3% ounces)
- Increased gold price assumption used in modeling ($3,000/oz)
- QA/QC disclosed with certified labs and QP sign-off
Negative factors
- Grade decline in Wenot Inferred (-25.8%)
- Grade decline in Gilt Inferred (-3.9%)
- Indicated tonnage decrease at Gilt (-9.5%)
Facts used in scoring: 6
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: Wenot Indicated MRE increased by 49.8% through conversion of Inferred ounces.
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.”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Combined project Indicated tonnage increased significantly.
Evidence · text
“combined updated MRE ... 2,495,000 ounces of gold (Indicated MRE), a 17.6% increase”
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, is the Qualified Person (QP)”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared 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) and Best Practices Guidelines (2019).”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades for different mining methods and rock types are explicitly stated.
Evidence · text
“Mineral Resources are reported at cut-off grades of 0.20 g/t Au for soft rock, 0.30 g/t Au for hard rock within the open pit, and 1.70 g/t Au for underground shapes.”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Resource Estimates (6)
indicatedgoldTonnes: 38100000Grade: 2.04Grade Unit: g/tContained Metal: 2495000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Region
- guyana
- Reported Region
- Guyana
- Ticker
- OMG
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Alan J. San Martin, Elaine Ellingham
- Resource group id
- resource:320e4b7ecb28549ea2ef
- Deposit or zone
- Omai Gold Property
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 38100000
- Grade
- 2.04
- Grade Unit
- g/t
- Contained Metal
- 2495000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2026-04-07
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-14T00:00:00.000Z
Reasoning: Significant growth in total project Indicated gold ounces.
Positive factors
- 17.6% increase in ounces vs August 2025 MRE
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
inferredgoldTonnes: 106600000Grade: 1.59Grade Unit: g/tContained Metal: 5465000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Region
- guyana
- Reported Region
- Guyana
- Ticker
- OMG
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Alan J. San Martin, Elaine Ellingham
- Resource group id
- resource:68019521063ec2c0c464
- Deposit or zone
- Omai Gold Property
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 106600000
- Grade
- 1.59
- Grade Unit
- g/t
- Contained Metal
- 5465000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2026-04-07
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-14T00:00:00.000Z
Reasoning: Substantial increase in total project Inferred gold ounces.
Positive factors
- 24.7% increase in ounces vs August 2025 MRE
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
indicatedgoldTonnes: 28400000Grade: 1.59Grade Unit: g/tContained Metal: 1453000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Region
- guyana
- Reported Region
- Guyana
- Ticker
- OMG
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Alan J. San Martin, Elaine Ellingham
- Resource group id
- resource:4f590d3dfaf3eecca5d4
- Deposit or zone
- Wenot Deposit
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 28400000
- Grade
- 1.59
- Grade Unit
- g/t
- Contained Metal
- 1453000
- Contained Unit
- oz
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: Strong growth in Indicated ounces and grade due to conversion and infill.
Positive factors
- 49.8% increase in ounces
- 8.9% increase in grade
Evidence · text
“Wenot Indicated MRE increased 49.8% to 1,453,000 ounces ("oz") 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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
inferredgoldTonnes: 92400000Grade: 1.35Grade Unit: g/tContained Metal: 3999000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Region
- guyana
- Reported Region
- Guyana
- Ticker
- OMG
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Alan J. San Martin, Elaine Ellingham
- Resource group id
- resource:89f1d589bdf3d6cbc0f7
- Deposit or zone
- Wenot Deposit
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 92400000
- Grade
- 1.35
- Grade Unit
- g/t
- Contained Metal
- 3999000
- Contained Unit
- oz
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: Ounce growth offset by significant grade dilution from new extensions.
Positive factors
- 7.6% increase in ounces
Negative factors
- 25.8% decrease in grade
Evidence · text
“Wenot Inferred MRE increased 7.6% 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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
indicatedgoldTonnes: 9700000Grade: 3.33Grade Unit: g/tContained Metal: 1042000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Region
- guyana
- Reported Region
- Guyana
- Ticker
- OMG
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Alan J. San Martin, Elaine Ellingham
- Resource group id
- resource:ef6a04a5f35765e6cb6d
- Deposit or zone
- Gilt Deposit
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 9700000
- Grade
- 3.33
- Grade Unit
- g/t
- Contained Metal
- 1042000
- Contained Unit
- oz
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 tonnage decreased due to more restrictive classification criteria.
Positive factors
- 3.4% increase in grade
Negative factors
- 9.5% decrease in ounces
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
inferredgoldTonnes: 14200000Grade: 3.22Grade Unit: g/tContained Metal: 1465000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Region
- guyana
- Reported Region
- Guyana
- Ticker
- OMG
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Alan J. San Martin, Elaine Ellingham
- Resource group id
- resource:2f10cea4d07cec34f2b5
- Deposit or zone
- Gilt Deposit
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 14200000
- Grade
- 3.22
- Grade Unit
- g/t
- Contained Metal
- 1465000
- Contained Unit
- oz
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: Massive expansion of Inferred resource through depth drilling and re-examination of upper zones.
Positive factors
- 120.3% increase in ounces
Negative factors
- 3.9% decrease in grade
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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.