Omai says gold reserves increased by 86% in 16 months – CEO

(Kaieteur News) – President and Chief Executive Officer (CEO) of Canada-based Omai Gold Mines Corp. Elaine Ellingham has disclosed that within 16 months the company increased the Mineral Resource Estimate (MRE) for its Omai Gold Project in Guyana by 86%.

In a recent announcement on Omai’s continued drilling through its subsidiary, Avalon Gold Exploration Inc, Ellingham noted that the significant increase in resources over the years, has enabled Omai to move beyond its original target of developing a mine producing between 250,000 and 300,000 ounces of gold annually. “Our drilling continues to be highly effective; over the past 16 months, we increased the Omai Mineral Resource Estimate by 86%, allowing us to reach this much larger mine plan and also a much lower than market-anticipated strip ratio,” she said.

The company’s resource growth has been recorded through MRE updates since its return to “mining-friendly” Guyana in 2020. In August 2025, Omai, in an updated MRE, reported that the project’s combined resource had increased from the 2024 MRE’s 2.0 million ounces of gold in the indicated category and 2.3 million ounces in the inferred category to 2,121,000 ounces indicated, a 7% increase, and 4,382,000 ounces inferred, a 92% increase. Seven months later, in April 2026, Omai reported another updated MRE, with the project’s indicated resource increasing to 2,495,000 ounces of gold, representing a further 17.6% increase, while the inferred resource rose to 5,465,000 ounces.