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MELBOURNE, Aug. 10, 2017 /CNW/ - OceanaGold Corporation
(TSX/ASX: OGC) (the "Company") is pleased to announce the
completion of an updated National Instrument 43-101 compliant
technical report ("Technical Report") for the Haile Gold Mine
located in South Carolina,
United States. The release of the
Technical Report follows the Company's news release dated
26 June 2017 that announced the
results of the recently completed Haile Optimisation Study.
The results of the study reflected robust economics of an
expanded Haile operation with a 70% increase in mineral reserves,
near 50% increase in annual gold production over life of mine,
increased mine life and a maiden reserve for the underground
operation at the Horseshoe deposit.
The Technical Report has been prepared by qualified persons
from, and on behalf of, the Company, and is an update to the
previous report for the Haile Gold Mine released on 25 October
2016.
The Technical Report has been filed with the relevant stock
exchanges and is also available on SEDAR and the Company's website
www.oceanagold.com
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. OceanaGold also has a
significant pipeline of organic growth and exploration
opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably over the past 27 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 600,000
ounces of gold and 18,000 to 19,000 tonnes of copper with sector
leading All-In Sustaining Costs that range from $600 to $650 per ounce sold.
SOURCE OceanaGold Corporation