Canadian explorer Omai Gold Mines has reported significant high-grade gold mineralisation from its ongoing drilling campaign at the Wenot deposit in Guyana, adding fresh momentum to one of the country's longest-running gold projects.

The standout result came from hole 26ODD-185, which returned a grade of 7.26 grams per tonne of gold over a continuous width of 34.8 metres. Grades at this level over such a sustained interval are unusual and point to a thick, well-defined zone of mineralisation rather than an isolated high-grade pocket. The company also identified several secondary zones spanning multiple metres with grades above 2 g/t gold, suggesting the mineralisation extends more broadly across the deposit than previously mapped.

Wenot sits within the wider Omai gold district, an area with a long mining history that has drawn renewed interest as exploration technology and capital have improved the economics of revisiting older sites. The latest figures will be closely watched by investors tracking the project's progress toward a fuller resource definition.

To support the pace of discovery, Omai Gold currently has five drill rigs active on site. The company is roughly midway through an ambitious 50,000 metre drilling programme for the year, having completed 27,770 metres across 58 holes to date. The scale of the campaign reflects the company's effort to firm up the geological model across both the open pit and underground portions of the project before moving into the next stage of economic planning.

Alongside the drilling, the company has been running metallurgical tests to establish how efficiently the gold can be extracted once mined. Phase 1 testing has returned recovery rates of between 93% and 95%, achieved using standard carbon-in-leach, or CIL, processing. This is a well-established method in the gold mining industry and the strength of these recovery figures means Omai Gold is unlikely to need costly or experimental processing solutions to bring the ore to market. Samples were drawn from both the Wenot open pit zone and the Gilt underground deposit, indicating that the company is preparing both areas for integration into a single development plan.

The project features a metallurgical recovery rate of 93% to 95% gold extraction using standard carbon-in-leach (CIL) processing, based on tests conducted on the Wenot (open pit) and Gilt (underground) deposits. Moving forward, the next major milestone for the project is the completion of a Preliminary Economic Assessment (PEA), which is expected within 4 to 6 weeks.

These results set the stage for the project's next major milestone. Omai Gold expects to publish a Preliminary Economic Assessment within four to six weeks, combining the Wenot open pit and Gilt underground deposits into a single development case. The PEA will draw on the updated mineral resource estimate the company published in April 2026, giving investors their clearest picture yet of what the combined project could be worth and how it might be brought into production.

For a company at Omai Gold's stage, the PEA carries particular weight. It will translate months of drilling and metallurgical work into projected capital costs, operating costs and potential mine life, figures that typically determine whether a junior explorer can attract the financing needed to advance toward construction. Guyana's mining sector has attracted growing international attention in recent years, driven largely by its offshore oil discoveries, and gold projects such as Wenot stand to benefit from the country's improving infrastructure and investment climate.

Drilling will continue alongside the preparation of the economic assessment, with the company aiming to convert the remaining metres of its 2026 programme into further resource growth. Should the PEA confirm favourable economics, Omai Gold's next steps would likely include a feasibility study and discussions around financing and permitting, the standard pathway toward an eventual mining decision at Wenot.

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