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MELBOURNE, Jan. 20, 2017
/CNW/ - OceanaGold Corporation (TSX/ASX: OGC) (the
"Company") is pleased to announce first gold production at the
Haile Gold Mine. Today, the operation poured its first gold
doré bars totalling 445 ounces.
Mick Wilkes, President and CEO of
OceanaGold said, "The first gold pour at Haile is another
significant achievement for the Company, the valued communities of
Kershaw and Lancaster, and the state of South Carolina. This achievement marks the
first gold production from the Haile Gold Mine in 25 years, and
nearly 190 years since gold was first produced there. The Haile
Gold Mine is a world-class asset with leading margins, a growing
resource, and significant expansion potential."
He added, "Construction is complete and commissioning activities
are progressing to plan as we move closer to putting the newest
gold mine in the United States
into commercial production early in the second quarter this year.
We are also advancing the Haile optimisation study which is
expected to be complete by mid-2017."
Commissioning activities initially commenced with the grinding
and leaching circuits with mill feed from stockpiled oxide ore.
With these circuits now up and running, commissioning is now
moving to the flotation and fine grinding circuits as part of the
planned sequential introduction of transitional and sulphide ore
into the mill.
info@oceanagold.com |
www.oceanagold.com | Twitter: @OceanaGold
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 its flagship operation, 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 is currently commissioning the Haile
Gold Mine, a top-tier asset located in South Carolina along the Carolina Terrane. The
Company expects the Haile Gold Mine to commence commercial
production in early 2017. OceanaGold also has a significant
pipeline of organic growth and exploration opportunities in the
Australasia and Americas regions.
OceanaGold has operated sustainably over the past 26 years 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 2017, the Company expects to produce 550,000 to 610,000
ounces of gold and 15,000 to 17,000 tonnes of copper with sector
leading All-In Sustaining Costs that range from $600 to $650 per ounce sold.
Cautionary Statement for Public Release
Certain information contained in this public release may be
deemed "forward-looking" within the meaning of applicable
securities laws. Forward-looking statements and information relate
to future performance and reflect the Company's expectations
regarding the generation of free cash flow, execution of business
strategy, future growth, future production, estimated costs,
results of operations, business prospects and opportunities of
OceanaGold Corporation and its related subsidiaries. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as "expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "estimates" or
"intends", or stating that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved) are not statements of historical fact and may be
forward-looking statements. Forward-looking statements are subject
to a variety of risks and uncertainties which could cause actual
events or results to differ materially from those expressed in the
forward-looking statements and information. They include, among
others, the accuracy of mineral reserve and resource estimates and
related assumptions, inherent operating risks and those risk
factors identified in the Company's most recent Annual Information
Form prepared and filed with securities regulators which is
available on SEDAR at www.sedar.com under the Company's name. There
are no assurances the Company can fulfil forward-looking statements
and information. Such forward-looking statements and information
are only predictions based on current information available to
management as of the date that such predictions are made; actual
events or results may differ materially as a result of risks facing
the Company, some of which are beyond the Company's control.
Although the Company believes that any forward-looking statements
and information contained in this press release is based on
reasonable assumptions, readers cannot be assured that actual
outcomes or results will be consistent with such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and information. The Company expressly
disclaims any intention or obligation to update or revise any
forward-looking statements and information, whether as a result of
new information, events or otherwise, except as required by
applicable securities laws. The information contained in this
release is not investment or financial product advice.
SOURCE OceanaGold Corporation