(Kaieteur News) – Canada-based Omai Gold Mines is working towards a 2030 production target at its gold project in Region Seven (Cuyuni-Mazaruni), which is projected to produce 6.3 million ounces of payable gold over an 18-year mine life, including peak annual production of 435,667 ounces.

The Omai Gold Mine hosts the Wenot open pit deposit and the adjacent Gilt underground deposit. Omai, through its subsidiary Avalon Gold Exploration Inc., owns 100% interest in the mine, which produced over 3.7 million ounces of gold from 1993 to 2005.

In a statement following the release of the project’s Preliminary Economic Assessment (PEA), Avalon said it is working towards a 2030 production objective, subject to further technical studies, environmental and regulatory approvals, financing and a future construction decision.