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Omai Gold Mines (TSXV: OMG) reached a new all-time high stock price of C$1.33 on Friday after announcing high-grade gold intercepts from its drilling campaign at the Omai gold project in Guyana. The company’s market value increased to approximately C$835 million.
Key drilling results include hole 25ODD-125, which intercepted 9.5 metres grading 6.84 grams of gold per tonne, and hole 25ODD-127, which intersected 37.5 metres at 1.52 grams and 25.8 metres at 3.08 grams from depths of 431 and 517 metres, respectively. Omai has drilled 43 holes covering 23,500 metres this year and plans to include these results in an updated preliminary economic assessment (PEA) set for release early next year.
The Omai project now ranks as Guyana’s second-largest undeveloped gold project by contained ounces, with 2.12 million ounces indicated at a grade of 2.07 grams per tonne and 4.38 million ounces inferred. Recent drilling has also begun in the Camp zone, approximately 500 metres west of Wenot, with five holes completed and assays pending.
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