 Hello everybody, we're gearing up for PDAC. I'm Peter Clausey with investor intel a new guest today Oh my gold mines who symbol actually is OMG With an interesting new story and we have the CEO Mario Stefano with us from San Diego today Thanks, Peter. Thanks for having me on appreciate it. Nice to meet you We know some of the same people but you and I have never met so nice to do it virtually. It's a pleasure. Thanks First the corporate stuff you carried out an RTO in November of 2020 and your balance sheet shows $56,000 on it and yet you're carrying out a 5,000 meter drill campaign. How is that possible? Well, the financial statements you're looking at are prior to closing of the RTO. It's the financials of the shell Today we have about three and a half million dollars in cash Prior to us completing the RTO silver corp came in and invested four and a half million dollars US In a private placement and that cash is really what we're working our way through with this 5,000 meter drill program Which I think is going to be pretty exciting as results start to come out. Where's the property? So the property is in Guyana. It's the old oh my gold mine and You know, it was the flagship property in Guyana. It's not all of Latin America in the 90s It was discovered by Cambior and people that know Cambior No, probably do recognize them as great operators, but at the same time they were great explorers So a lot of the projects in Quebec and or Latin America were old Cambior projects So wait, sorry, what what years are we talking about Mario? When was it in operation? So it was from the midnight so say around 93 to about 2004 2005 But basically what happened there it was shut down by I am gold $400 gold will do that to you. Yeah, and in fact it, you know for maybe they could have kept it alive at 400 I was actually at 350 it worked its way up to 350. So Really really what happened there as everyone knows Cambior had some Hedgebook issues. So they're in a bit of a financial Situation that they needed to resolve I am gold acquired them And I'm gold made a decision to shut down the mine because Cambior didn't really put any money in exploration And we know that for a fact because two of our geologists that work for us Linda Hesterman As well as another geologist were exploration managers for Cambior and I'm gold and they didn't spend any money looking for Extensions to the ore body. Oh, they just exhausted. They just exhausted the resource. They didn't exhaust the property Exactly that is exactly what they did and and you know Trump you know, who else that happened to was a toilet toilet schooled in Quebec? Yeah, they exhausted the resource went eyes and walked away Yep, and I know that area in that project quite well. So that's exactly it happens many many times Oh, look at look think of Kirkland Lake Right, I mean Kinross had that project and if you think about it, you know No one thought there was anything left there And if it was low grade and it wasn't till you got much deeper that you had had the big discovery at Kirkland Lake Even in even the project in Australia, you know the swan zone I mean, there's a lot of gold left behind by big company was the best place to find a mine Yeah, where they're where there's one existing. It's all the shadow of the head for him. I'm a Tim's boy initially So we grew up learning that well, remember I'm the XCFO of Lakeshore Gold Right, so I know that quite well and and I know how hard it is to find deposits But I know as you just if you're from Tim and there's a lot of gold there You just got to look and drill and that's really what happened here, right? There was really no drilling by Cambior to extend the resource and when I'm gold had the asset They had the discovery in certain on the Roosevelt mine, which was actually a Cambior discovery mind you But they made the decision to move the mill because they had to move the mill Regardless, there was about 300,000 ounces from an historical resource sitting below the mill at Omai But I'm gold made the decision to move that mill to CERNOM to advance the Roosevelt mine Which at the time was the right decision like 16 million now, right? It's a major discovery world-class mine But really that's the opportunity for us because as a result of that a lot of gold was left behind At Omai and and I'm gold knew that because prior to shutting it down They did drill some holes below the finel pit So the finel pit was mine to say 200 meter depth and then they hit this non Mineralized dike post mineral and they did drill some holes about 150 meters thick and they drilled some holes through the dike and They drilled 46 holes and they estimated internally between one and a half and two and a half million ounces But you couldn't access that via open pit and much much disclaimer that right now not 43 101 Don't don't listen to anything. He says disclaimers under 43 101. I make that very clear This is just I am gold Internal resource we got to do a lot more work there But but the key message there is there was a lot of gold left behind and some great hits everything You know wide zones super high grades where you get the thousand and three thousand grams per meter type hit As well as you get you know the 10 meters of 20 30 grams So you get a wide range of holes below the finel pit But it just reinforces that a lot of gold was left behind So what's the drill program for your 20 holes you have a specific geologic goal? Are you just exploring the property? Ah, no, that's that's a great great question. So if you look at our more recent Releases we actually issued some assays below the when not pit So there's really two pits here at oh my and these two pits combined produce about 3.8 million ounces at 1.6 grams so not only was it a large deposit was also very high grade for an open pit and Prior operator drilled some holes below this when not pit, but because of lack of money and you know 2013 14 They never assay these holes and if you look at the release we just issued last week We drilled 14 meters and 9 grams or we assayed 14 meters and 9 grams below the when not pit So we're actually very confident that the when not pit extends to depth just like the finel pit does And if you look at the prior release as well We also had you know 20 meters around three and a half grams So we're hitting wide zones high-grade zones So we got a huge advantage here because we had 6,000 meters of unassay core That's really gonna help us understand the model here geologically. Yeah, that's a freebie That's a huge freebie huge amount of investment that we would have to make ourselves to drill that So now we're actually drilling when not we're gonna do 10,000 or 5,000 meter drill program about 10 holes And we're gonna drill all below and around the when not pit and the reason for doing that I'm gonna call it the low-hanging fruit. We think at the end of that drill program We're gonna have enough data from the historical data that we're able to get from I'm gold Like the blast hole data drill hole data below the pit As well as what we just recently assayed from the prior operator plus what we're gonna drill We should be able to come up with a resource that went up by the end of the year a 43 101 compliant resource this time That's market could rely on and hopefully it's sizable right it doesn't doesn't take writing I mean the way to think about it. There's about You know 1.5 to 1.8 million ounces mind that we're not to about 180 190 meter depth If you can extend that to say 300 meter depth or 350 meters you do the math right you can get a lot of gold there That's still pretty shallow It's so very shallow. It's open pit depth and it'll be you know, this is the greenstone belt This is gonna go deep right there's no reason why it's not going down to a thousand or two thousand meters So what's your cost per meter drilled? So we are in Guyana unfortunately as as you know your timon's boy You know my mining career really started in Timon's even though I worked out for Miranda But serious mining career started in Timon's now you can do Timon's for a hundred to hundred and fifty dollars a meter all in Another I'm involved with you know, we're less than a hundred and fifty dollars a meter in Quebec Here it's gonna be about 250 dollars a meter all in so quite reasonable That's no different than drilling in northern parts of Canada where you don't have infrastructure or you know, British Columbia If you go to the far north it's double that so what makes up that Delta is it labor? Is it infrastructure to get your supplies in is it to get the core out to a lab? It's a combination of it all right a lot of it's the infrastructure You know, we do have an airstrip But we have to provide our own fuel so we have no electricity there. There's no grid So basically I think of it you're basically providing diesel fuel so it makes it a little bit more expensive. Can you run solar? You could it is one thing we will look at you know once we're ready to make a development decision here We're not at that point yet. There's also offshore oil now discovered in in Guyana And one of the byproducts offshore oil is natural gas so maybe you can do you know very cheap natural gas With a big generator outside, so there's lots of options now that are opened up to us that weren't available in the 90s in the early part of 2000 so you'd have done a technical report on the QT or the RTO, but it wasn't a resource estimate It was just a work report Correct, right. What what did the budget call for? So really really what we're looking for is From our perspective we've got a really strong Exploration plan here and it's going to be a three pronged approach The first one which we're starting now is drilling We're not right because we think that's very low hanging fruit We can demonstrate potential and open pit resource It's not a combination open pit and underground mining at we're not and I think that's going to give us credibility The next stage is for now As I indicated non for 3101 compliant historical resource buying gold between one and half to two and a half million ounces depending on whether they cap the grades And but but we know there's quite a bit of gold there But the the real value generator having been in this market a lot is that that blue sky potential the ability to find new discoveries And what's really important here Peter is not only was gold left behind that finale and we're not you know This whole region wasn't explored So you look at the amount of drill meters that oh my it was just it was less than 90,000 meters drilled until we now Are doing our 5,000 meter drill program at Roosevelt. It's almost 900,000 meters drilled You know at Marion which Dennis Le pointe who's our geologist He's considered the the expert in the guy in the shield, you know, they drilled almost 700,000 meters So we really had a fraction of the drilling in our area for a mine that's produced 3.8 million ounces So it's telling you there's a lot of potential here, but it's not just because we did drill that there's potential You look at the geophysics And we were able to identify a lot of targets in and around the existing pits You know, I'll go to a couple of key targets here for us to the self of when not One thing that really came out of our assain is there's mineralization in the sediment and back then when they were mining We're not they didn't really look in the sediments for gold mineralization But if you look at Roosevelt and Marion a lot of their gold is hosted in the sediments And the assays that just came back for example that nine grams over 14 meters was in the sediments So as we're looking at when not there is potential to not only expand it to depth but also widen the pit into the sediments and in the geophysics we identified a couple of targets self of When not that are in the sediments, right? So now that we're seeing mineralization in the sediments it's reinforcing to us from the geophysics that hey maybe there is something To the south of when not that has never been tested that is worthy of testing if you go to the finel Which is just north of when not to the east of finel I'm gold drilled a fan of holes Try and look for the extension of finel to the east and they didn't hit anything and they couldn't have because from the geophysics We could see that there was no extension to finel the drilling confirmed it But they continued to drill further east because they didn't have any geophysics that they were using back then You know shocking, but they did it when we ran the geophysics We actually see a really large anomaly that looks very similar to finel That to us is a high priority target when when sandstorm put their $2 million investment in the company It was this target called broccoli hill that was their number one target here And it's not just the geophysics because I've seen lots of pretty colors in geophysics and You know, there's lots of targets that come out of the geophysics, but that's all they are as a target But it's not just the geophysics Peter. There's a lot of historical workings here They call them part knockers, but Lou think of them as alluvial miners So there's a lot of historical working here of mining at this area called broccoli hill plus There's some auger drilling as well with some ore grade, but basically, you know, the auger drilling Has identified a 500 meter by 500 meter area with with anomalous golden it plus add on top of that historical mining add on top of that The geophysics, you know, that's a real high priority target for us And that's gonna be the second phase of our drill program first phase. Let's prove up have that We're not second phase Let's go to finel and start targeting some of these new targets Which we think there's a number of these new targets in and around here and and keep in mind, you know This is really important to understand because people always go, you know, you know This was operated by Angle Cambier. Of course, they would have seen all these targets Well, it wasn't really well understood in the 90s, right? So if you look at at Roosevelt Roosevelt is not one massive super pit. It's a combination of, you know, smaller and larger pits and That wasn't really understood back then but now we do understand that now that we know Marion same thing combination of larger And smaller pits and open pit underground mining. That's exactly what we think we have it Oh my but the drilling hasn't occurred to prove it up and that's what our Program is gonna true and try and show. So normally at this point I would invite you to meet me for a beer at PDAC, which is happening in a little bit Unfortunately Here's my beer for PDAC with you, Mario. Yeah, it was lovely to meet you. I'll follow up with you soon Oh my gold trades us OMG on the venture exchange All right, Peter. Thank you very much