The Prospector News

OceanaGold Extends Mineralization Below Existing Resource at Didipio

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

OceanaGold Extends Mineralization Below Existing Resource at Didipio

 

 

 

 

 

OceanaGold Corporation (TSX: OGC)  is pleased to announce year to date results from our ongoing 2023 drill program at the Didipio Mine in the Philippines. The 2023 drill program is 45% complete, focused on resource growth and conversion of Inferred Resources.

 

Highlights from extensional drill intercepts include1,2:

  • 72.0 m @ 3.40 g/t AuEq (2.44 g/t Au and 0.69% Cu) (RDUG611) (Didipio Deeps)
  • 18.6 m @ 4.24 g/t AuEq (2.56 g/t Au and 1.20% Cu) (RDUG465) (Eastern Breccia)
  • 30.0 m @ 2.08 g/t AuEq (1.16 g/t Au and 0.66% Cu) (RDUG467) (Eastern Breccia)
  • 21.0 m @ 1.65 g/t AuEq (0.90 g/t Au and 0.54% Cu) (RDUG466) (Eastern Breccia)

 

Highlights from resource conversion drill intercepts include1,2.:

  • 218.0 m @ 4.55 g/t AuEq (3.39 g/t Au and 0.83% Cu) (RDUG603) (Northern Monzonite)
  • 86.5 m @ 5.35 g/t AuEq (4.22 g/t Au and 0.81% Cu) (RDUG481) (Balut Dyke)
  • 197.0 m @ 2.23 g/t AuEq (1.47 g/t Au and 0.55% Cu) (RDUG602) (Northern Monzonite)
  • 132.0 m @ 2.30 g/t AuEq (1.52 g/t Au and 0.56% Cu) (RDUG475) (Northern Monzonite)
  • 56.1 m @ 3.51 g/t AuEq (2.90 g/t Au and 0.44% Cu) (RDUG484) (Balut Dyke)
  • 62.0 m @ 1.56 g/t AuEq (1.07 g/t Au and 0.35% Cu) (RDUG492) (Balut Dyke)
  • 49.0 m @ 1.83 g/t AuEq (1.38 g/t Au and 0.33% Cu) (RDUG611) (Didipio Deeps)
  • 13.2 m @ 3.01 g/t AuEq (1.65 g/t Au and 0.98% Cu) (RDUG611) (Didipio Deeps)

 

Resource conversion drill results are in line with and support historic drilling within the resource model shell.

 

Gerard Bond, President & CEO of OceanaGold said, “Our 2023 drilling program at Didipio has delivered exceptional results to date, supporting our focus on creating value through near-mine exploration targeting resource growth and conversion. Drilling continues to improve confidence within the Inferred portions of the deposit and supports potential reserve growth and our target to increase underground mining rates to at least 2 million tonnes per year, approximately 20% above current underground mining rates. The drilling has also identified exciting extensions beyond known mineralization at the Didipio Deeps, Eastern Breccia and the Balut Dyke, representing significant upside potential outside of existing resources.”

 

Overview

 

Since December 2022, 9,172 metres of resource conversion and extensional drilling in 45 holes has been completed year to date (“YTD”) and the Company is on track to complete 20,250 metres (“m”) in 2023 (Figures 1 and 2). Extensional drilling has identified new areas of porphyry gold-copper mineralization 100m below existing Inferred Resources within the Didipio Deeps target (previously untested), extensions of the Balut Dyke to the west, and depth extensions of known mineralization within the Eastern Breccia. These targets all remain open for extension beyond the existing resource.

 

Resource conversion drilling of Inferred Resources, utilising the same holes as extensional drilling, has also successfully returned broad intersections of high-grade gold-copper mineralization within the Balut Dyke, the Monzonite, and the Syenite. These results are in line with and support historic drilling within the resource model shell.

 

 

Didipio Deeps

 

2023 drilling YTD has extended gold-copper mineralization down to a depth of 1860 mRL, which is characterised by chalcopyrite-bornite veinlets and disseminations and remains open at depth. Hole RDUG611 is the deepest hole drilled to date, intersecting several zones of mineralization down hole. The lower zone of 72m at 3.40 g/t AuEq extends mineralization approximately 100m below the current limit of the Inferred Resource shell. Holes RDUG609, RDUG610 and RDUG611 all intersected wide zones of mineralization and will support the conversion of Inferred Resources. Further drilling is underway to better define these zones (Figure 3).

 

 

Balut Dyke

 

2023 drilling YTD of the Balut Dyke below 2200 mRL has returned significant results with similar thickness and grade to previous intercepts extending mineralization along strike to the west (Figure 4). The geometry of the dyke in the west is not adequately defined due to acute drill hole intersection angles for RDUG481 and RDUG484. Definition of the Balut Dyke mineralization and geometry will continue as further underground platforms become available.

 

 

Monzonite & Syenite

 

A wide zone of gold-copper mineralization is hosted by the Balut Dyke, Monzonite and Syenite at the eastern extent of mineralization where drilling supports the conversion of Inferred Resources (Figure 5). Mineralization remains open at depth below 2000 mRL, with the deepest hole (RDUG603) returning the best intercept of 218m @ 4.6 g/t AuEq. Drilling on a similar section down to 1980 mRL is well advanced with a targeted completion by the end of Q3 2023.

 

 

Eastern Breccia

 

2023 drilling YTD of the Eastern Breccia was undertaken immediately below the previously reported intercepts from December 2022 at 2250 mRL level and outside existing Mineral Resources. Three drillholes intersected significant gold-copper mineralization associated with chalcopyrite and bornite veinlets, and pods of chalcopyrite-bearing quartz (Figure 6). This target remains open at depth.

 

 

Table 1: 2023 Didipio Resource Definition and Extensional drilling significant intercepts year to date (intervals are core lengths, not true width). “Definition” drilling includes Conversion drilling and is within the current resource model shell, while “Extensional” drilling is outside the current resource model shell. Definition drill results are in line with and support historic drilling within the resource model shell.

 

 
HoleID From To Interval Au g/t Cu % AuEq g/t AuEq gxm Drilling Category
RDUG465 73.0 91.6 18.6 2.56 1.20 4.24 79.30 Definition
RDUG466 70.0 91.0 21.0 0.90 0.54 1.65 34.61 Definition
RDUG467 74.0 104.0 30.0 1.16 0.66 2.08 62.25 Extensional
RDUG469 26.0 57.0 31.0 1.67 0.56 2.45 75.99 Definition
including 26.0 30.0 4.0 3.72 1.51 5.81 23.23 Definition
including 30.0 57.0 27.0 1.37 0.42 1.95 52.76 Definition
RDUG470 38.0 55.0 17.0 1.76 0.44 2.37 40.33 Definition
including 38.0 48.0 10.0 2.37 0.59 3.19 31.85 Definition
including 48.0 57.0 7.0 0.89 0.23 1.21 8.48 Definition
RDUG471 23.0 66.0 43.0 1.26 0.53 2.00 85.88 Definition
including 23.0 37.0 14.0 1.30 0.52 2.02 28.25 Definition
including 37.0 58.0 21.0 1.43 0.62 2.30 48.34 Definition
including 58.0 66.0 8.0 0.73 0.31 1.16 9.29 Definition
RDUG472 31.3 116.0 84.7 1.94 0.53 2.68 226.61 Definition
RDUG473 95.0 179.0 84.0 1.64 0.44 2.26 189.62 Definition
including 95.0 103.0 8.0 3.06 0.77 4.13 33.01 Definition
including 103.0 160.0 57.0 1.79 0.43 2.38 135.80 Definition
including 160.0 179.0 19.0 0.60 0.35 1.09 20.80 Definition
RDUG474 102.0 190.0 88.0 1.50 0.59 2.31 203.50 Definition
RDUG475 69.0 201.0 132.0 1.52 0.56 2.30 302.90 Definition
RDUG476 60.2 76.0 15.8 9.16 1.77 11.62 183.55 Definition
RDUG479 2.0 11.0 9.0 7.95 0.23 8.27 74.42 Extensional
RDUG480 55.0 104.0 49.0 5.87 1.14 7.45 365.26 Definition
RDUG481 59.0 145.5 86.5 4.22 0.81 5.35 462.41 Definition
and 205.8 216.0 10.2 4.07 1.35 5.94 60.61 Extensional
RDUG482 77.0 147.0 70.0 3.78 1.02 5.19 363.46 Definition
and 166.0 189.0 23.0 1.33 0.49 2.00 46.08 Definition
RDUG483 48.6 96.0 47.4 1.96 0.44 2.56 121.47 Definition
including 48.6 60.0 11.4 4.75 0.97 6.10 69.56 Definition
including 60.0 96.0 36.0 1.07 0.27 1.44 51.92 Definition
RDUG484 54.0 110.1 56.1 2.90 0.44 3.51 196.97 Definition
RDUG486 51.8 74.0 22.2 3.22 0.56 4.00 88.70 Definition
including 51.8 58.0 6.2 1.19 0.35 1.67 10.36 Definition
including 58.0 74.0 16.0 4.00 0.64 4.90 78.34 Definition
RDUG487 48.2 64.9 16.7 2.41 0.59 3.23 54.00 Definition
including 48.2 53.0 4.8 1.73 0.51 2.43 11.69 Definition
including 53.0 64.9 11.9 2.69 0.62 3.56 42.31 Definition
RDUG488 69.0 87.0 18.0 2.20 0.31 2.63 47.37 Definition
RDUG490 29.0 61.7 32.7 1.49 0.44 2.10 68.71 Definition
including 29.0 53.0 24.0 1.74 0.56 2.51 60.20 Definition
including 53.0 61.7 8.7 0.79 0.13 0.98 8.51 Definition
RDUG491 34.0 63.0 29.0 1.37 0.49 2.06 59.72 Definition
and 206.6 224.0 17.4 3.87 0.50 4.09 71.13 Extensional
RDUG492 38.0 100.0 62.0 1.07 0.35 1.56 96.51 Definition
and 223.0 234.5 11.5 1.71 0.35 2.20 25.27 Extensional
RDUG493 31.7 61.0 29.3 2.19 0.72 3.19 93.47 Definition
and 202.0 209.9 7.9 2.48 0.49 3.17 25.03 Definition
RDUG494 27.0 65.0 38.0 1.28 0.56 2.05 77.92 Definition
including 27.0 51.0 24.0 1.60 0.78 2.69 64.48 Definition
including 51.0 65.0 14.0 0.71 0.18 0.96 13.45 Definition
RDUG494 127.4 175.0 47.6 1.81 0.67 2.74 130.39 Definition
including 127.4 152.0 24.6 3.13 1.05 4.59 112.86 Definition
including 152.0 175.0 23.0 0.40 0.26 0.76 17.53 Definition
RDUG495 31.0 65.0 34.0 1.43 0.55 2.19 74.50 Definition
including 31.0 58.0 27.0 1.17 0.50 1.87 50.39 Definition
including 58.0 65.0 7.0 2.43 0.73 3.44 24.11 Definition
RDUG495 148.0 177.0 29.0 1.37 0.55 2.14 61.99 Definition
RDUG496 37.1 81.0 43.9 1.73 0.53 2.46 108.01 Definition
RDUG497 30.0 86.0 56.0 1.98 0.37 2.43 136.31 Definition
including 30.0 45.0 15.0 1.86 0.61 2.71 40.58 Definition
including 45.0 86.0 41.0 2.02 0.28 2.42 99.08 Definition
RDUG497 120.0 132.0 12.0 4.40 0.76 5.46 65.49 Definition
RDUG600 27.0 142.0 115.0 1.42 0.40 1.98 227.55 Definition
including 27.0 47.0 20.0 1.28 0.63 2.15 43.07 Definition
including 47.0 57.0 10.0 0.87 0.39 1.40 14.03 Definition
including 57.0 93.0 36.0 1.66 0.40 2.22 79.90 Definition
including 93.0 113.0 20.0 1.83 0.26 2.20 44.01 Definition
including 113.0 123.0 10.0 1.32 0.32 1.76 17.58 Definition
including 123.0 142.0 19.0 1.01 0.37 1.52 28.97 Definition
RDUG601 45.0 167.0 122.0 1.21 0.44 1.82 219.82 Definition
RDUG602 45.0 242.0 197.0 1.47 0.55 2.23 440.15 Definition
RDUG603 60.0 278.0 218.0 3.39 0.83 4.55 991.82 Definition
RDUG604 32.0 74.0 42.0 1.66 0.54 2.40 100.78 Definition
including 32.0 47.0 15.0 1.41 0.77 2.47 37.07 Definition
including 47.0 74.0 27.0 1.79 0.41 2.36 63.71 Definition
RDUG605 35.0 67.0 32.0 1.65 0.42 2.24 71.79 Definition
including 35.0 57.0 22.0 1.45 0.48 2.11 46.38 Definition
including 57.0 67.0 10.0 2.11 0.31 2.54 25.41 Definition
RDUG606 47.0 65.0 18.0 1.49 0.33 1.95 35.16 Definition
including 47.0 60.0 13.0 1.48 0.34 1.95 25.36 Definition
including 60.0 65.0 5.0 1.53 0.31 1.96 9.80 Definition
and 93.0 117.0 24.0 1.82 0.10 1.96 47.00 Definition
including 93.0 104.0 11.0 3.45 0.09 3.57 39.27 Definition
including 104.0 117.0 13.0 0.45 0.10 0.60 7.74 Extensional
RDUG607 40.0 57.0 17.0 2.27 0.78 3.35 56.90 Definition
and 93.0 95.0 2.0 120.90 5.69 128.81 257.61 Definition
and 157.0 179.0 22.0 1.10 0.58 1.90 41.79 Definition
including 157.0 168.0 11.0 1.11 0.45 1.73 19.04 Definition
including 168.0 179.0 11.0 1.09 0.70 2.07 22.75 Extensional
RDUG608 50.0 83.0 33.0 1.51 0.48 2.18 71.96 Definition
RDUG608 196.3 233.0 36.7 1.50 0.72 2.50 91.88 Definition
including 196.3 205.0 8.7 1.10 0.58 1.91 16.63 Definition
including 205.0 233.0 28.0 1.63 0.76 2.69 75.25 Extensional
RDUG609 54.0 156.0 102.0 1.44 0.97 2.79 284.58 Definition
including 54.0 64.0 10.0 0.85 0.43 1.45 14.45 Definition
including 64.0 123.0 59.0 1.68 1.35 3.55 209.71 Definition
including 123.0 156.0 33.0 1.19 0.46 1.83 60.42 Definition
RDUG610 22.0 37.0 15.0 4.33 0.90 5.58 83.69 Definition
RDUG610 98.0 171.0 73.0 1.58 0.62 2.45 178.47 Definition
RDUG611 48.0 61.2 13.2 1.65 0.98 3.01 39.74 Definition
RDUG611 144.0 193.0 49.0 1.38 0.33 1.83 89.79 Definition
RDUG611 273.0 345.0 72.0 2.44 0.69 3.40 244.56 Extensional

 

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

 

About OceanaGold

 

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

 

Qualified Person Statement

 

The exploration results in this press release were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

 

Information relating to the Didipio exploration results in this document has been verified and is based on and fairly represents information compiled by or prepared under the supervision of Craig Feebrey, a Member of the Australasian Institute of Mining and Metallurgy and an employee of OceanaGold. Mr Feebrey has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as Qualified Persons for the purposes of the NI 43-101. Mr Feebrey consents to the inclusion in this public report of the matters based on their information in the form and context in which it appears.

 

Posted August 16, 2023

Share this news article

MORE or "UNCATEGORIZED"


GoldHaven Announces Closing of Private Placement

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) is... READ MORE

February 16, 2025

POWER METALS DELIVERS MORE HIGH-GRADE CESIUM AND TANTALUM RESULTS FROM CASE LAKE

Major Highlights Additional results from the Phase III exploratio... READ MORE

February 16, 2025

WESTERN COPPER AND GOLD PROVIDES POSITIVE METALLURGICAL UPDATE

Western Copper and Gold Corporation (TSX: WRN) (NYSE American: WR... READ MORE

February 16, 2025

Arizona Sonoran Announces Royal Gold’s Purchase of Existing NSR on the Cactus Project

Arizona Sonoran Copper Company Inc. (TSX:ASCU) (OTCQX:ASCUF)  an... READ MORE

February 13, 2025

Emerita Intersects 9.3 Meters Grading 1.1% Copper and 1.2 G/T Gold with Additional Base Metal Sulphides at El Cura Deposit

Emerita Resources Corp. (TSX-V: EMO) (OTCQB: EMOTF) (FSE: LLJA) c... READ MORE

February 13, 2025

Copyright 2025 The Prospector News