Post by
trooper22 on Sep 07, 2024 8:37am
Very Good Results with More to Come
The drill results were very good! These are very high grades for an open pit and also extremely wide. These are truely amazing results so far also for the south sediments modeled as waste rock in the Wenot pit which is what I was waiting to hear about which will definately improve the overall economics of the mining plan. Wenot just keeps getting better as Omai continues to drill. The one target outside of the pit was not a hit, but it was worth putting in a few shallow holes to test.
They will be drilling some known high grade targets which will be a good starter area that has very high g/ton which will improve the overall economics of the mine plan. The current drilling is also focuses on depth of the Wenot pit. From past drill results, assays indicate the Wenot grades and widths only seem to get much higher g/ton as they go deeper. This again will improve the economics and increase the overall mineral resources of Wenot alone. We should be well over 3 million and maybe closer to 4 million oz from Wenot alone. This is an economic mine in itself. And let us not forget that we have Guilt Creek which has a known mineral resource of almost 2 million oz that we know is open at depth. With additional drilling we will probably see this resource increase substantially.
So much to look forward too for the next few months. As for a price target, we seem to be way under the stock price where Omai should be based on its current resources. As what has happened in the past with good results being released prior to a mining conference, Omai has quite a bit to talk about at Beaver Creek next week. I would not be surprised to see the volume increase substantially and also the the share price to reach some new highs. Do your own DD, because there is quite a bit of news over the last 6 months that gets investors excited. GLTA