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OceanaGold Reports High-grade Intercepts at Haile

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OceanaGold Reports High-grade Intercepts at Haile

 

 

 

 

 

OceanaGold Corporation (TSX: OGC) (ASX: OGC) is pleased to announce an update on exploration activities at the Company’s Haile Gold Mine in South Carolina, United States. This exploration update follows the update provided to the market on February 27, 2019  and results herein reflect activity completed after this date.

 

Selection of significant drill results:

 

  • Red Hill: 45.8 m @ 2.42 g/t Au
  • Red Hill: 39.5 m @ 2.78 g/t Au
  • Red Hill: 45.3 m @ 4.32 g/t Au
  • Ledbetter: 28.3 m @ 5.34 g/t Au
  • Snakeshoe: 40.5 m @ 2.93 g/t Au
  • Ledbetter: 26.2 m @ 5.75 g/t Au
  • Haile: 85 m @ 11 g/t Au, including 2.5 m @ 286 g/t Au
  • Ledbetter: 81 m @ 3.57 g/t Au
  • Haile: 71 m @ 1.64 g/t Au
  • Ledbetter: 46.5 m @ 4.99 g/t Au

 

Mick Wilkes, President and CEO of OceanaGold said, “We are encouraged by these latest drill results at Haile where exploration activities focused on both infill and extensional drilling. As we continue to mine the ore body and continue our exploration program of drilling, mapping and core logging, we have identified important structures that are feeding into our drilling strategy including target generation to stimulate further organic growth in the Haile district.”

 

The Company has drilled 70 drill holes for 14,221 metres using four surface diamond drill rigs at Haile since the February 2019 update. Infill and extensional drilling have targeted low-cost reserve growth areas in and around the Ledbetter, Snake, Red Hill and Haile deposits (Figure 1). Infill and delineation drilling continue to support block models and provide increased confidence for near term production forecasting (Figures 1 & 2).  

 

A total of 24-km of brownfields drilling is ongoing and planned to be completed in 2019. Drilling in the fourth quarter will focus on Ledbetter infill holes to convert Inferred blocks to Measured & Indicated categories and to expand reserves.

 

Table 1 – Significant Haile Drill Hole Intercepts from February to August 2019

 

 

Drill Hole
ID
Project East
NAD83
Z17N
North
NAD83
Z17N
Collar
RL m
Az Dip From
(m)
To (m) Width
(m)
Grade
(g/t Au)
DDH0854 Snake West 542909 3826481 141 132 -75 162.2 215.1 53.0 0.89
DDH0856 Snake West 542824 3826688 141 123 -79 371.2 416.9 45.7 1.18
DDH0857 Snake West 542774 3826511 140 143 -87 192.6 279.8 87.2 0.57
DDH0862 Snake West 542732 3826586 139 140 -72 203.1 254.2 51.1 0.52
DDH0864 Red Hill 542543 3826292 141 125 -66 70.6 93.1 22.5 3.83
DDH0866 Red Hill 542543 3826292 141 166 -60 54.6 90.2 35.6 2.35
DDH0868 Red Hill 542613 3826288 141 121 -72 36.6 57.33 20.7 2.07
DDH0870 Red Hill 542670 3826262 141 169 -68 45.7 50.5 4.9 10.62
DDH0874 Red Hill 542614 3826251 141 193 -52 20.1 46.0 25.9 2.52
DDH0877 Red Hill 542589 3826252 141 344 -84 26.5 72.3 45.8 2.42
DDH0879 Red Hill 542614 3826251 141 214 -82 23.4 56.2 32.8 2.41
DDH0880 Red Hill 542596 3826252 141 288 -50 15.9 33.7 17.9 2.80
DDH0880 Red Hill 542596 3826252 141 288 -50 47.0 77.1 30.1 3.02
DDH0883 Red Hill 542563 3826223 141 159 -76 12.0 30.2 18.2 1.95
DDH0884 Red Hill 542386 3826433 142 188 -61 56.6 96.1 39.5 2.78
DDH0885 Red Hill 542300 3826425 137 180 -45 40.4 58.7 18.3 1.44
DDH0887 Red Hill 542386 3826433 142 168 -71 53.8 99.1 45.3 4.32
DDH0890 Red Hill 542400 3826339 135 212 -78 3.7 38.7 35.1 0.97
DDH0891 Red Hill 542323 3826413 140 190 -48 28.6 46.4 17.8 3.97
DDH0895 Red Hill 542415 3826370 136 150 -52 28.4 60.9 32.5 0.97
DDH0897 Red Hill 542397 3826355 136 77 -69 18.5 80.7 62.2 1.23
DDH0898 Ledbetter 542736 3826868 136 120 -67 207.9 236.2 28.3 5.34
DDH0899 Ledbetter 542668 3826923 151 147 -67 226.5 264.9 38.4 1.83
DDH0900 Snakeshoe 543414 3826587 156 332 -48 333.5 374.0 40.5 2.93
DDH0901 Ledbetter 542736 3826865 136 128 -54 221.2 231.1 9.9 3.06
DDH0902 Ledbetter 542668 3826923 151 180 -53 231.9 258.1 26.2 5.75
DDH0903 Haile 542123 3826298 137 263 -50 16.3 73.5 57.2 2.84
DDH0903 Haile 542123 3826298 137 263 -50 73.5 76.0 2.5 286.08
DDH0903 Haile 542123 3826298 137 263 -50 76.0 101.3 25.2 2.30
DDH0905 Ledbetter 542668 3826923 151 206 -62 185.1 266.2 81.1 3.57
DDH0906 Ledbetter 542736 3826865 136 147 -72 206.2 223.2 17.1 1.73
DDH0907 Haile 542129 3826297 137 247 -46 23.7 94.6 71.0 1.64
DDH0908 Haile 542063 3826325 133 238 -64 34.8 109.6 74.8 1.14
DDH0909 Ledbetter 542668 3826923 151 217 -57 211.6 258.1 46.5 4.99
DDH0910 Haile 542129 3826297 137 239 -37 21.4 55.7 34.3 1.72
DDH0910 Haile 542129 3826297 137 239 -37 65.4 90.8 25.4 1.27
DDH0912 Haile 542063 3826325 132 236 -50 48.9 98.2 49.3 1.37
DDH0913 Haile 542159 3826244 137 256 -30 132.3 138.4 6.1 4.64
DDH0915 Haile 542063 3826325 132 239 -41 56.4 110.4 54.1 0.97
DDH0917 Haile 541920 3826114 133 314 -30 59.5 122.2 62.7 1.63

 

 

All drill data in relation to the Haile exploration results can be found on the Company’s website at http://www.oceanagold.com/investor-centre/filings/. In line with ASX listing requirements, OceanaGold has appended the information required by JORC Table 1 for Haile exploration results to its ASX announcement. JORC Table 1 is not required under National Instrument 43-101. Readers are referred to the ASX website at www.asx.com.au or the OceanaGold website at www.oceanagold.com to view JORC Table 1.

 

About OceanaGold

 

OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The Company’s assets encompass the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company operates the Haile Gold Mine, a top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific regions.

 

OceanaGold has operated sustainably since 1990 with a proven track-record for environmental management and community and social engagement. The Company has a strong social license to operate and works collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build capacity and not dependency.

 

In 2019, the Company expects to produce between 500,000 to 550,000 ounces of gold and 14,000 to 15,000 tonnes of copper at All-In Sustaining Costs ranging between $850 and $900 per ounce sold.

 

Competent/Qualified Person’s Statement 

 

The exploration results were prepared in accordance with the standards set out in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”) and in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects of 7 the Canadian Securities Administrators. The JORC Code is the accepted reporting standard for the Australian Stock Exchange Limited.

 

Information relating to Haile exploration results in this document has been verified by, is based on and fairly represents information compiled by or prepared under the supervision of John Jory, a Certified Professional Geologist and Member of the American Institute of Professional Geologists and an employee of OceanaGold. Mr Jory 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 a Competent Person as defined in the JORC Code and is Qualified Persons for the purposes of the NI 43 101. Mr Jory consents to the inclusion in this public report of the matters based on their information in the form and context in which it appears.

 

 


Figure 1: Selected Drill Holes and Significant Gold Intercepts (February-August 2019) (CNW Group/OceanaGold Corporation)

 


Figure 2: Ledbetter cross section A-A’ with new drill holes and intercepts (CNW Group/OceanaGold Corporation)

 


Figure 3: Red Hill cross section B-B’ with new drill holes and intercepts (CNW Group/OceanaGold Corporation)

 

Posted September 12, 2019

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