We'll go ahead and begin our next presentation. Jason Brewster, VP of Operations and Technical Services for Omai Gold Mines.
Hi. Oh, that's bright. Hi, everybody. I guess I'm the first one that gets to officially say good afternoon to you. As my friend to my left already said, my name is Jason Brewster. I'm the VP of Operations of Omai Gold Mines, and I'll just tell you a little bit about the company here today, give you an overview, because our time is somewhat limited. Okay, I'll start with the investment highlights, which, in our case, the headline of those highlights has to be at the top here, our latest mineral resource that we just put out in August of this year. We sit at about 6.5 million oz across two deposits. Actually, I should show you. Those are the two deposits there, the Wenot deposit and the Gilt Creek deposit on the right.
The Wenot would be a large open pit, and the Gilt Creek will be an underground situation. Of those 6.5 million oz, 1.8 million oz is in the underground, and about 4.7 million oz is in the open pit. That's a 96% increase over our last resource, which we put out just a year before that. In one year of drilling, we added about 2.2 million oz of gold to that deposit. We're also testing some near-surface satellite deposits that will affect our PEA going for—it won't be in the PEA, but it'll affect the economics of the deposit going forwards. We currently have five drills turning on the project. We have a base case PEA that we did in April 2024. Now, important to note about that PEA is that it was only done on what is now about 28% of the deposit.
It was only on one of our two deposits, and it was based on the older resource statement. That is going to grow significantly, as we will see. Having said that, that PEA gave us a 13-year mine life with an NPV of CAD 560 million, and that was calculated at CAD 1,950 gold. It is a robust project. Additionally, other investment highlights: we are a Brownfields deposit. This property produced from 1993 to 2005, produced 3.8 million oz over the life of the project. It closed because of gold price. I will show you that on the next slide. As a Brownfield site, we have significant advantages that other sites may not have, coming from local knowledge of the deposit. That is huge in Guyana. We have road access. We have a lot of infrastructure access, and permitting is easier for us because it is identified as a Brownfields deposit.
We don't have a lot of the considerations that go along with a more greenfields-type deposit. We're fully funded for what we're doing. We just did a major cash raise a couple of weeks ago of CAD 40 million, which brings us up to about CAD 59 million in the Treasury or $41 million . This year, so far, we've drilled over 30,000 m of drilling. By the end of the year, by Christmas, we expect that to get up to about 40,000 m of drilling. We are also starting on the process of updating the PEA to include both deposits. I should mention we're also advancing our permitting. That's an important thing too. This is a chart that most of you probably recognize. It's gold over the past little while.
What's important to note on this chart, though, is to the left, before 2005, that's when Omai was in production. Gold averaged over the life of the mine, it averaged CAD 375, and it actually dipped down to about CAD 252, and they still were making money. Again, it's a robust project. Since then, we brought this company public in 2020, and since then, we've been doing our exploration on the project, and that's the time period where we've identified the 6.5 million oz. Corporate snapshot. This is important to anyone's investment decisions. We've got about, fully diluted, about 718 million shares outstanding. As I mentioned, we're fully funded. We've got almost CAD 60 million in the Treasury right now, and we're liquid. We trade over the past three months.
We average about 2 million-2.5 million shares per day. Our shareholding base, our shareholding register is very strong. We've got all the name brand funds that you can think of are in our shareholder register. Importantly, we have no shareholders that are 10% or more. All of those funds that you see there, for the most part, are between 4%-6% shareholders. We've also added five analysts to cover us as well in the past year. We have a lot of exposure there, and they all have good ratings on our stock. That steeple one is actually out of date. That's a $2 target now, not $1.75. Keeping it high level, this is just an overview of the resource that we have.
As I mentioned, the Wenot deposit is the larger one that you can see up there. That's an open pittable one. That's where we've been focusing almost all of our drilling. That's where we added 2.2 million oz. That now sits at about 4.7 million oz. Majority of that, three quarters of that, is inferred because our exploration thesis on that was to make it as big as possible. And that inferred is around 1.8 g per ton and almost 1 million oz of indicated at 1.5 g . The Gilt Creek, that's an underground deposit that, in contrast, is about 2/3 indicated and 1/3 inferred. And average wise, that's about 3.25 g . And it's important to note, actually, that that, although it's underground, it starts fairly shallow.
On the top right hand corner of that deposit, that's about 300 m depth, and it goes down to about 900 m. Where are we? We're in the Guyana Shield, fairly close to the Eagle Mountain deposit, which you may know. In this slide, you can see from Georgetown on the coast there going down to Brazil. There's a road there. We're about 10 kilometers off of that road. We do have a spur off that road to our property. We're the only real major project in Guyana that has road access currently. They're actually paving that road all the way down to Brazil, and they're forecast to be at our turn off by the end of the year. This is one of the things that makes Omai an attractive deposit, but the whole area is attractive for the majors.
None of them are really currently there right now. Zijin has the Aurora mine, but there's no real majors in the area, although it is a very prospective area for them to join. There's a lot of interest from that viewpoint. Excuse me. This is just the government. Guyana has recently been noted as one of the top 10, actually number nine, top mining investment jurisdictions globally by the Fraser Institute. They have a long history of mining, specifically open pit mining, both for gold and bauxite. Most of the gold mining has been small scale miners, though. It's only a population of 800,000 people, but due to the large oil discovery there, they've got world class or world leading GDP growth. They're forecast to be the highest GDP per capita in the world in 2027. As such, they're doing major infrastructure expansions, which we will only benefit from.
One knock-on effect of the oil production is they have a lot of money coming into the country, but not much employment because all the oil production is offshore. The government is very active in trying to increase investment in the interior of the country where they need jobs, and the best way to do that is gold mining. This, again, Brownfields advantages. Here you can see the road. This green line that you see on this map here, that is a potential power line, a hydro power line that is permitted. It is out for tender right now. It is still years away, but if it goes through, it will be within 30 km of our property, and we can just spur off that. Again, we have the road going through. We have an airstrip on- site.
We have some old buildings from the old mining project that we've converted into our camp and offices. Importantly, we have an old tailings facility that still has room for deposition, and that's about 350 acres. It has about 100 million tons of capacity between that and another facility that we have. Just a little bit about exploration projects before I get into the two main projects or main deposits. This map on the left here, the bottom where all those red lines are, that's the Wenot deposit. Above that, where the pink is, that's the Gilt Creek deposit. To the left of both of those, you can see there's a few drill holes. Those are some exploration targets that we have. We've been drilling them. We put out press last week on that.
The one that's in the north, [sorry, up there], t hat press release we put out was 20 g over 5 m. And the lower one, that's the camp zone, that was about 2.5 g over 16 point something meters. So, the idea between those is we would put our mill right between the two of them, and they would be early day feed for the mill to affect the project economics, get you a faster payback because they're near or at surface. Okay, this is a view of the Wenot deposit. I have to speed up here a bit. On the right, you can see there are two maps. The one on the top is the shallow expression of our current resource. You can see in the middle of all those colors, that's the footprint of the old pit, but all around that is shallow mineralization.
That's the 75 m level below surface, which is all very good. When you actually look deeper down to the 375 ft level, which is the map below that, you start seeing some pretty stunning grades, you know, 4.5 g over 57 m, 3.1 g over 68 m, good grades and good thicknesses. That's where the bulk of our new ounces have come from in that last resource. This map at the top, that's a long section. If you cut these two maps along that sort of squiggly line in the middle and look at it from the side, that's what you see at the top here. Important takeaway from this is that you see all the purple and red circles at the bottom. Those are high grade intersections, and it's showing you that this deposit is getting better grade at depth.
In fact, if you look at this little graph down here, what we did was we actually chopped that deposit up into 100 m vertical slices. The top two slices that you see here, those are where the deposit is affected by previous mining. There is material missing. When you get to the third and fourth slices there, you're looking at 1.3 million oz-1.4 million oz per 100 vertical meters. The grade is listed there. You can see the grade increasing from about 1.7 g- 2.1 g as you get deeper, which is, you know, a really nice situation to have because that allows you to do certain things with your mine plan to affect the economics. You might be able to, for instance, do a flat bottom pit at a certain level and take part of it from underground as opposed to open pit.
That would be great for your strip ratio. This, again, is a section view of the same deposit. Main takeaway from this section view is we have a shear corridor there that is about 400 m wide. All of our mineralization occurs with, or most of our mineralization occurs within that shear corridor. We have four different styles of mineralization in there. Sediments to the left. There is a central contact zone in the middle. That is that magenta color. On the right, that is the volcanics. You have a dike swarm in there, we call it, and then other little splays off that further north. When you take this and slice it into 50 m sections vertically, you get what you see on the right here. Most mines in the world are happy to have one or two of those sections. We have six.
That just speaks to the size of this deposit. Again, it's an orogenic deposit, which implies that it goes to great depth. On that note, one of the things that we're doing now is actually testing the theory that it does go to depth. On the left, you see the Gilt Creek deposit. That's the underground one. Sorry. We're drilling through that and drilling below the Wenot deposit at great depth. We put out a press release. My time is up. Yeah, I'm sorry, but we are out of time here. Last few comments, please.
Just an important takeaway from this. At depth, we have intersected the shear zone that we wanted to hit. All the geology is there for the deposit to continue to depth. Last thing I'll say is that we are currently working on an updated PEA that will include all 6.5 million oz of the deposit. We are drilling with five drills on the surface right now to affect that PEA.
Great. Thank you very much, Jason. If you have any questions, please meet at the back of the room. Thank you for your time.
Thanks, everybody.