Belo Sun Mining Corp BSXGF

The President of Guyana met with Omai

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Omai Gold Mines has recently grown the resource significantly and has a path to restart the mine.

Guyana’s President Irfaan Ali at a head-of-state dinner noted "Omai's large gold find will boost the economy"...“There are some tremendous opportunities coming in mining. Today (February 5) I had a meeting with OMAI for example, they are coming back on stream in the type of numbers that you will hear announced soon.” (Kaieteur News, Feb 24, 2024) https://www.kaieteurnewsonline.com/2024/02/24/omai-large-gold-find-will-boost-economy-pres-ali/ President Ali stated that according to what the company related to him, Omai’s new operation would be similar to their previous one in Guyana which started in the 1990’s….. In its prime, Omai produced over 3.7 million ounces of gold…… the type of logistics for transport, logistics and the spin off for the rest of the economy would be enormous,” President Ali told the private sector members. The Company announced (news release Feb 8, 2024) an updated Mineral Resource Estimate from the Wenot and Gilt Creek deposits now standing at 2.0 million ounces of gold grading at 2.15 g/t gold in the indicated category and 2.3 million ounces of gold grading at 2.26 g/t in the inferred category. This represents a notable increase compared to the previous resource estimate conducted in October 2022, with indicated ounces seeing a 4% uptick and inferred ounces experiencing a substantial 28% surge. Of particular significance is the expansion of the Wenot deposit, with indicated resources rising by 10% to 834,000 ounces and inferred resources skyrocketing by 45% to 1.6 million ounces, including heightened gold grades in both categories. Kaiteur News had reported that, Elaine Ellingham, Chief Executive Officer (CEO) of Omai Gold Mines, expressed satisfaction with the substantial increase in the mineral resource estimate, highlighting the noteworthy rise in gold grades. Ellingham highlighted that the project’s contained ounces now surpass the total gold production from the former mine, achieved at comparable grades. “The Omai Gold Mine produced approximately 3.8 million ounces at an average grade of 1.5 g/t Au between 1993 and 2005, when the gold price was less than US$400/oz.,” the CEO noted, adding, “We believe that with the current Mineral Resource Estimate combined with the many benefits of a brownfields project, that Omai is proving the potential to rival its historical status.