OMAI PROPERTY - FENNELL PIT -

Fennell Pit

The Fennell pit mined the upper portion of an irregularly shaped pluton referred to as the Omai Stock.  Gold mineralization is found associated with a series of widespread quartz-carbonate veins and stringers which have a number of orientations.  These occur within the Omai quartz diorite stock as well as into the surrounding country rocks.  The Omai Stock has been the focus of gold exploration and production at Omai for over 100 years.

During its operation, 2.4 million ounces of gold were produced at an average grade of 1.6 g/t Au to a maximum depth of 250m.   Mining at Fennell bottomed at a barren diabase sill.    After mining had ceased in 2005, exploration drilling discovered that the stock continues below the sill, to a depth of at least 960 meters with gold mineralization similar to that mined in the Fennell pit.  Forty-six holes were drilled to test below the sill and the deepest drill holes ended while still in gold mineralization.  At the Aurora Mine, approximately 200 km to the northeast of Omai, their Rory’s Knoll gold deposit, that is said to be similar to our Omai stock, is now known to extend to a depth of 2 kilometers.

A Significant Untapped Historical Resource

A significant historic resource was calculated for the gold mineralized zone under the Fennell pit in 2007.  We plan to drill test this area in the first half of 2022 with the objective of upgrading and verifying the historic resource and then continue to explore the depth potential of this deep rooted Omai stock.  Based on the known gold mineralization identified in the 46 drill holes and our knowledge of this Omai stock, we believe there is good potential for this mineralization to continue to significant depths.

  • Fennell gold mineralization hosted in a 400m diameter quartz diorite intrusive – the “Omai Stock”
  • Production of 2.4 million oz Au above the sill ~9600 oz per vertical metre
  • Pit bottomed at 250 m in a barren ~180m thick diabase sill
  • 2006-07 Iamgold dewatered the pit and drilled ~27,000 meters in 46 holes
  • Discovered high-grade gold mineralization down 650 m below the sill; deepest hole to depth of 967 metres ended in mineralization
  • Impressive intersections:
    • 41 intervals > 34g/t Au over 1m
    • 3 intervals 1000 to 3350 g/t Au
    • 143m @ 2.6 g/t Au over 1 m
  • Modelled 13 subhorizontal mineralized zones; Goldspot has remodelledthe zones
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Plans to Validate and Pursue Depth Extension – Next steps 2022

  • Drill an estimated 4 holes to validate the historical resource
  • 2 deep holes to test depth potential (akin to Aurora’s Rory’s Knoll extension to 2 km depth)
CategoryTonnage
(Kt)		Grade Au
(g/t)		Contained Au (Oz)
Capped @ 15 gpt Au
Indicated 11,1822.49894,287
Inferred 6,2812.56516,840
Uncapped
Indicated 11,7604.321,632,481
Inferred 19,6943.42871,063

* Drilled historical (2007) by Iamgold.  Non-compliant resource of 1.4 Moz @ 2.51 g/t gold with a cutoff grade of 1.5 g/t & 15 g/t cap. This resource is included for illustration purposes to indicate the potential of the property and should not be relied upon.  

 

 

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