Fuseworks Media

‘OceanaGold continues to delineate high-grade gold mineralization’

OceanaGold Corporation (TSX: OGC) (“OceanaGold” or the “Company”) is pleased to provide an update on results from the 2023 exploration and resource conversion programs at Haile in the United States and Wharekirauponga in New Zealand.

Gerard Bond, President & CEO of OceanaGold, said “2023 has been a successful year for resource conversion at OceanaGold. Drill results released during this year highlight the upside potential for growth within our existing mine footprint at Haile, while results at Wharekirauponga continue to demonstrate the exceptional grade and continuity within the EG vein. Today’s drill results provide increased confidence in our resource base and will be reflected in our updated reserves and resource statement to be released early next year.”

Highlights

  • Haile resource conversion highlights include (core length):
    • 73.8m @ 16.17g/t Au, Horseshoe (UGD0008 – conversion)
    • 19.1m @ 8.63g/t Au and 31.4m @ 9.59g/t Au, Horseshoe (UGD0017 – conversion)
    • 22.6m @ 5.43g/t Au, Horseshoe (UGD0003 – conversion)
    • 73.2m @ 4.92g/t Au, Palomino (DDH1194 – conversion)
    • 21.3m @ 6.15g/t Au, Palomino (DDH1197 – conversion)
  • Wharekirauponga resource conversion highlights include (estimated true width intersections):
    • 5.0m @ 77.1g/t Au and 111.6g/t Ag, EG Vein (WKP118B – conversion)
    • 8.4m @ 42.2g/t Au and 90.7g/t Ag, EG Vein (WKP118A – conversion)
    • 4.4m @ 41.6g/t Au and 54.2g/t Ag, EG HWS Vein (WKP118B – conversion)
    • 3.7m @ 39.1g/t Au and 70.3g/t Ag, EG HWS Vein (WKP118A – conversion)
    • 1.5m @ 79.2g/t Au and 208.2g/t Ag, EG Vein (WKP121 – conversion)
    • 3.8m @ 25.8g/t Au and 106.0g/t Ag, EG Vein (WKP111B – conversion)

Haile

A program of resource conversion drilling at Horseshoe Underground totalling ~18,400 metres (“m”) is scheduled to be completed by the end of 2024. To date, conversion drilling totalling 6,513m in fifteen holes has been completed, with 3,896m completed since the September 14, 2023 news release. Drilling from underground has targeted the conversion of the lower Horseshoe Inferred resource with 12 holes to date and assay results from four new holes since the last update. Highlights from recent drilling include 73.8m @ 16.17g/t Au from hole UGD0008, in line with the block model estimate, and is similar to hole UGD0002 returning 73.9m @ 13.03g/t Au released in September 2023.

Results were received from five remaining resource conversion holes at Palomino, located approximately 800m southwest of the Horseshoe Underground mine, where future access may be gained from underground infrastructure. Highlights included 73.2m @ 4.92g/t Au (including 9.1m @ 9.63g/t Au) in hole DDH1194 and 21.3m @ 6.15g/t Au (including 4.6m @ 16.32g/t Au) in hole DDH1197. The Palomino resource conversion drill program is now complete, all assay results have been received, and modelling is underway for a resource update in early 2024.

Wharekirauponga

Since the June 19, 2023 exploration update, 5,700m have been drilled at Wharekirauponga, targeting the conversion of Inferred resources in the EG Vein Zone (Figure 2). New intercepts for the EG vein and the EG Hanging Wall Splay (“EG HWS”) continue to increase confidence in the geologic model and high-grade continuity of the deposit. Opportunities remain for up-plunge, down-plunge and along-strike extensions of the EG Vein. High-grade intercepts remain open. Step-out drilling in hole WKP100, the most southerly hole on the EG Vein (previously released), confirmed mineralisation continues for at least a further 200 m along strike of the currently defined southern shoot. A new drill site is being consented to enable drill testing of the south-westerly strike extensions of the mineralisation above hole WKP100. The EG Vein Zone remains the primary, near-term target for drilling with resource conversion and extensional drilling to continue through the remainder of 2023 and 2024.

Table 1: Haile drill intersections. NSR = No Significant Result. Intervals are core length, not true width. Conversion drilling

is within the current resource model shell.

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

Target

Category

DDH1190

468.6

477.4

8.8

1.66

Palomino

Conversion

and

493.0

506.7

13.7

1.99

Palomino

Conversion

and

517.4

529.6

13.7

1.59

Palomino

Conversion

and

540.2

552.4

12.2

5.79

Palomino

Conversion

including

546.3

548.8

2.5

18.68

Palomino

Conversion

including

563.1

581.4

18.3

2.64

Palomino

Conversion

DDH1194

377.1

450.2

73.2

4.92

Palomino

Conversion

including

390.9

399.9

9.1

9.63

Palomino

Conversion

DDW1195

531.1

544.8

13.7

4.71

Palomino

Conversion

and

552.4

564.6

12.2

2.24

Palomino

Conversion

and

581.9

587.5

5.6

2.78

Palomino

Conversion

DDH1197

463.0

484.3

21.3

6.15

Palomino

Conversion

including

475.2

479.7

4.6

16.32

Palomino

Conversion

DDW1202

381.6

412.9

31.2

3.58

Palomino

Conversion

and

435.0

448.7

13.7

2.54

Palomino

Conversion

UGD0003

309.2

331.8

22.6

5.43

Horseshoe

Conversion

UGD0005

NSR

Horseshoe

Conversion

UGD0008

306.0

379.8

73.8

16.17

Horseshoe

Conversion

including

313.3

347.1

33.8

28.53

Horseshoe

Conversion

UGD0017

302.6

321.7

19.1

8.63

Horseshoe

Conversion

and

349.4

380.8

31.4

9.59

Horseshoe

Conversion

including

349.4

356.6

7.2

18.07

Horseshoe

Conversion

Table 2: Wharekirauponga drill intersections. Intervals are estimated true width. Conversion drilling is within the current resource model shell.

Hole ID

From (m)

To (m)

True Width (m)

Au (g/t)

Ag (g/t)

Target

Category

WKP111A

485.9

486.5

0.6

17.0

13.0

EG HWS

Conversion

and

487.9

491.8

3.6

14.8

13.8

EG

Conversion

WKP111B

494.3

498.7

3.8

25.8

106.0

EG

Conversion

WKP111C

504.8

508.8

3.5

19.5

13.8

EG

Conversion

WKP111E

536.2

539.2

2.1

13.3

9.9

EG

Conversion

WKP118A

455.1

457.5

2.0

36.0

39.4

EG HWS

Conversion

and

459.4

463.9

3.7

39.1

70.3

EG HWS

Conversion

and

498.8

509.0

8.4

42.2

90.7

EG

Conversion

and

539.2

542.2

1.6

11.2

14.5

EG FW

Conversion

WKP118B

465.1

470.5

4.4

41.6

54.2

EG HWS

Conversion

and

509.7

516.8

5.0

77.1

111.6

EG

Conversion

WKP120

286.6

288.9

2.0

10.1

17.3

EG

Conversion

and

354.7

356.3

1.1

17.2

40.4

EG FW

Conversion

WKP121

271.8

273.5

1.5

79.2

208.2

EG

Conversion

WKP122

306.6

308.3

1.4

14.0

33.8

EG

Conversion

WKP123

307.3

310.4

2.0

8.9

27.2

EG

Conversion

For further information relating to drill hole data please refer to the Company’s website at https://oceanagold.com/investor-centre/tsx-asx-filings.

 

Powered by Fuseworks and Truescope - Media monitoring, insights and news distribution for New Zealand organisations.