
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:
Highlights from resource conversion drill intercepts include1,2.:
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.
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