Avalon Gold Exploration Inc, the company which has been exploring under the Omai Prospecting License for the past five years, has announced that it estimates that there is some 6.5 million ounces of gold at the former Omai Gold Mines site in Region 7.
In a release today, the company said its exploration and development activities at the Omai Gold Project continue to deliver promising results, as it advances plans to establish a large-scale, long-life gold mining operation at the historic site.
The company said over the last five years, it has completed more than 80,000 metres of drilling, supported by extensive airborne and ground geophysical surveys and technical studies
“The company is continuing detailed drilling with 50,000 metres planned for 2026 along with engineering work to further define the mineral resources and advance the project toward the next stages of development. Current estimates place combined indicated and inferred gold resources at approximately 6.5 million ounces,” the company said in a statement.
According to the company, much of the identified mineralization occurs in fresh rock beneath the surface saprolite layer that was mined during the original Omai operation.
It explained that extracting gold from the deeper material will involve modern processing methods, including crushing, grinding and advanced recovery techniques.
“Exploration efforts are primarily focused on two major deposits within the property—the Wenot and Gilt deposits. The Wenot deposit is estimated to contain approximately 4.7 million ounces of gold, most of which could be mined using open-pit methods. The nearby Gilt deposit, with an estimated 1.8 million ounces of gold, lies deeper underground and is expected to require underground mining techniques,” the company stated.
The company noted that it has completed work on a Preliminary Economic Assessment (PEA), with results expected in the second quarter of 2026. This study will provide updated technical and economic insights, including proposed milling capacity, mining approaches, and metallurgical processing strategies. Work has already begun toward the next milestone—the Pre-Feasibility Study (PFS)—as the project continues to move forward.
The company said it held public consultation meetings in several locations, including Linden, Mile 58, Georgetown and Mahdia, with the aim of providing an opportunity for residents and stakeholders to learn more about the project and share their perspectives.
The release said the consultations were welcomed by local leaders in Linden, who believed that the project will boost economic activities in region 10.
The former Omai mine remains the largest gold producing area in Guyana’s history. During its years of operation, Omai held the distinction of being the largest primary gold producer in South America.
From 1993 to 2005, the mine produced approximately 3.7 million ounces of gold, playing a significant role in Guyana’s economic development.
The company said the mine is once again emerging as one of the country’s most promising mining projects.
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