(Kaieteur News) – President and Chief Executive Officer (CEO) of Omai Gold Mines Corp., Elaine Ellingham, says the historic Omai Gold Project has evolved into what she describes as a “rare gem” with the potential to produce more than 300,000 ounces of gold annually.

During a recent interview with the KE Report, Ellingham said the company currently has five drill rigs operating across the property and expects drilling to continue through the end of the year as it advances the project toward its next major milestone, a Preliminary Economic Assessment (PEA).

The Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 2005, ceasing operations when gold was below US$400 per ounce. Since returning to Guyana’s mining sector in 2020, Omai through its subsidiary Avalon Gold Exploration Inc., has identified 2.5 million ounces of gold in the indicated category at the historic OMAI Gold project. The company holds 100% interest in the project which hosts two orogenic gold deposits: Wenot and Gilt.