/NOT FOR DISSEMINATION OR DISTRIBUTION IN
THE UNITED STATES AND NOT FOR
DISTRIBUTION TO US NEWSWIRE SERVICES./
MELBOURNE, Nov. 8, 2017 /CNW/ - OceanaGold Corporation
(TSX/ASX: OGC) (the "Company") is pleased to provide an update on
its global exploration program across its assets in the Unites
States, New Zealand and
the Philippines. This exploration
update follows the update provided to the market on 26 June 2017 ("June update") and results herein
reflect activity completed after this date.
Significant Drill Results
LOCATION
|
WIDTH
(metres)
|
GRADE
Au (g/t) / Cu
(%)
|
TYPE
|
Waihi
|
Martha
Project
|
18.5
|
7.9 g/t
|
Extensional
|
11.1
|
8.1 g/t
|
Extensional
|
6.1
|
7.4 g/t
|
Extensional
|
3.3
|
20.9 g/t
|
Extensional
|
5.1
|
10.6 g/t
|
Extensional
|
9.9
|
5.3 g/t
|
Extensional
|
Gladstone
|
33.8
|
2.3 g/t
|
Extensional
|
39.9
|
2.1 g/t
|
Extensional
|
Favona
|
26.8
|
6.2 g/t
|
Extensional
|
34.9
|
3.9 g/t
|
Extensional
|
Correnso
Underground
|
4.3
|
33.4 g/t
|
Extensional
|
2.7
|
17.3 g/t
|
Extensional
|
4.8
|
5.1 g/t
|
Extensional
|
1.3
|
67.0 g/t
|
Extensional
|
7.6
|
9.0 g/t
|
Extensional
|
3.7
|
25.2 g/t
|
Extensional
|
5.7
|
7.0 g/t
|
Extensional
|
WKP
Target
|
East Graben
Vein
|
7.0
|
10.8 g/t
|
Step-out
|
Macraes
|
Coronation
North
|
6.3
|
4.2 g/t
|
Extensional
|
4.9
|
4.2 g/t
|
Extensional
|
6.6
|
3.3 g/t
|
Extensional
|
Golden
Point
|
10.9
|
4.2 g/t
|
Extensional
|
26.2
|
1.6 g/t
|
Extensional
|
7.2
|
2.1 g/t
|
Extensional
|
Haile
|
Palomino
|
13.1
|
15.6 g/t
|
Extensional
|
8.6
|
7.9 g/t
|
Extensional
|
Mustang
|
80.5
|
2.7 g/t
|
Extensional
|
128.0
|
1.7 g/t
|
Extensional
|
Snake
|
5.3
|
3.3 g/t
|
Extensional
|
15.2
|
2.1 g/t
|
Extensional
|
Ledbetter
|
30.2
|
4.6 g/t
|
Extensional
|
87.3
|
1.4 g/t
|
Extensional
|
15.1
|
1.8 g/t
|
Extensional
|
Red Hill
|
37.3
|
3.3 g/t
|
Extensional
|
19.0
|
1.4 g/t
|
Extensional
|
Haile Pit
|
43.0
|
2.3 g/t
|
Extensional
|
Mill Zone
|
9.0
|
3.8 g/t
|
Extensional
|
41.2
|
1.8 g/t
|
Extensional
|
99.1
|
1.1 g/t
|
Extensional
|
Horseshoe
|
26.2
|
6.4 g/t
|
Metallurgical
Hole
|
61.1
|
15.7 g/t
|
Metallurgical
Hole
|
Philippines
|
Didipio
|
65.0
|
8.2 g/t Au / 0.9%
Cu
|
Infill
Drilling
|
73.0
|
5.0 g/t Au / 0.7%
Cu
|
Infill
Drilling
|
66.0
|
5.0 g/t Au / 0.6%
Cu
|
Infill
Drilling
|
Radio
Prospect
|
8.0
|
2.4 g/t
|
Trench
|
7.0
|
2.6 g/t
|
Trench
|
8.0
|
1.6 g/t
|
Trench
|
1. True
width
|
2. Downhole
length as not possible to determine true width
|
Mick Wilkes, President and CEO of
OceanaGold said, "The latest round of drill results further
demonstrate the significant potential that exists at each of our
assets and in nearby greenfield areas. The investment in
exploration and drilling is creating value for investors and
supports our organic growth initiatives. The early drill results
from the Martha Project demonstrate the exciting opportunity that
may exist to materially increase the Waihi mine life, which could
unlock significant value for the business."
He added, "Drilling at Haile indicates an opportunity to
increase the in-pit resource plus good potential at depth on
several underground targets following our success at Horseshoe. Our
focus in the short term will remain on expanding the mineralisation
within the optimised pit shell and establish the potential of other
underground targets. At Macraes, we continue to find extensions of
Coronation North which has the potential of further increasing the
mine life of the operation while the strong results from drilling
at Golden Point supports the Round
Hill project."
New Zealand
Waihi
Year-to-date, the Company has drilled a total of 172 holes for
31,693 metres from three underground and five surface drill rigs.
Drilling continues to intersect encouraging widths and grades
across multiple targets, adding incremental resource ounces through
vein extensions to those currently being mined at Empire and
Christina (Figure 3).
The Company continues to make good progress on the Martha
Project exploration drill drives and has commenced drilling from
the first drill cuddy on the 800RL drill drive. A total of 2,506
metres have been drilled from the 800RL drill drive since early
August returning multiple significant intercepts (Tables 1 and 2).
Favona and Gladstone infill
drilling also continue to return encouraging intercepts (Table 3).
The results support the resource development of the Martha Project
where the Company has a significant resource target. Drilling from
the 920RL drill drive is expected to commence before year end
(Figure 3).
In July, the Company announced the commencement of drilling at
the WKP target in the Hauraki region, approximately 10 kilometres
to the north of Waihi. To date, two holes have been completed for a
total of 1,202 metres, targeting the East Graben (EG) vein where
historic drilling intercepted 7.9 metres @ 5.1 g/t Au (WKP35). The
first hole of the current phase of drilling has returned 8.8 metres
@ 10.84 g/t Au (Table 4) with assays pending throughout most of the
hole. The second drill hole (assays pending) stepped approximately
100 metres down-dip from historic hole WKP35, while the third drill
hole remains in progress approximately 120 metres to the north of
WKP40 (Figures 2 and 3).
Table 1 – Significant Intersections from Incremental Waihi
Resource Drilling
Drill Hole
ID
|
East#
(m)
|
North# (m)
|
Collar
RL (m)
|
Az#
|
Dip
|
From (m)
|
To (m)
|
True
width
(m)
|
Gold
Grade
(g/t)
|
Silver
Grade
(g/t)
|
Vein
|
|
|
813ER1087
|
396419.7
|
643542.4
|
812.3
|
299.0
|
6
|
62.2
|
69.7
|
4.8
|
5.05
|
9.8
|
Empire
|
|
813ER1089
|
396419.8
|
643542.4
|
812.8
|
301.8
|
17.2
|
93.8
|
100.7
|
5.7
|
6.99
|
15.3
|
Grace
|
|
813ER1091
|
396419.4
|
643541.4
|
811.8
|
272.1
|
-7.3
|
36.0
|
40.5
|
4.3
|
33.41
|
29.8
|
Empire
|
|
830ER1069
|
396343.5
|
643168.5
|
833.5
|
289.0
|
-10
|
180.0
|
183.2
|
2.7
|
17.27
|
277.2
|
Empire
|
|
830ER1081
|
396344.3
|
643169.6
|
833.6
|
326.6
|
-3
|
143.3
|
144.7
|
1.3
|
67.04
|
40.7
|
Christina
HW
|
|
912ER1061
|
396426.8
|
643297.6
|
913.6
|
329.0
|
-22
|
96.0
|
98.2
|
1.6
|
18.50
|
16.3
|
Empire
|
|
912ER1063
|
396427.1
|
643297.7
|
913.8
|
338.0
|
-19.4
|
161.4
|
161.7
|
0.3
|
44.10
|
54.9
|
Christina
HW
|
|
912ER1066
|
396425.0
|
643296.6
|
913.8
|
289.1
|
-11.6
|
142.3
|
145.0
|
2.1
|
11.49
|
8.3
|
Christina
HW
|
|
912ER1104
|
396426.2
|
643297.5
|
913.3
|
321.1
|
-29
|
94.7
|
103.1
|
7.6
|
8.95
|
7.8
|
Christina
HW
|
|
912ER1105
|
396426.7
|
643297.6
|
913.9
|
355.4
|
-12
|
109.0
|
112.2
|
2.8
|
21.87
|
10.9
|
Christina
|
|
912ER1110
|
396426.6
|
643297.7
|
913.4
|
336.1
|
-29.8
|
86.7
|
91.0
|
3.7
|
25.17
|
22.5
|
Christina
|
|
# Old Mt Eden
Coordinate system
|
Table 2 – Significant Intersections from Waihi Martha UG
Resource Drilling
Drill Hole
ID
|
East#
(m)
|
North# (m)
|
Collar
RL (m)
|
Az#
|
Dip
|
From (m)
|
To (m)
|
True
width
(m)
|
Gold
Grade
(g/t)
|
Silver
Grade
(g/t)
|
Vein
|
|
|
800SP1MN1095
|
395967.4
|
643097.9
|
780.1
|
284.0
|
3
|
156.3
|
176.0
|
18.5
|
7.85
|
24.0
|
Empire HW
|
|
including
|
163.0
|
164.9
|
1.5
|
21.87
|
47.3
|
163.0
|
|
and
|
168.0
|
171.1
|
2.8
|
10.71
|
16.6
|
168.0
|
|
and
|
172.3
|
173.6
|
1.2
|
28.75
|
120.2
|
172.3
|
|
800SP1MN1095
|
395967.4
|
643097.9
|
780.1
|
306.1
|
5.9
|
253.1
|
266.0
|
9.9
|
5.26
|
31.9
|
Martha
|
|
including
|
255.2
|
256.6
|
1.1
|
33.81
|
100.0
|
Martha
|
|
800SP1MN1101
|
395967.4
|
643097.3
|
779.7
|
277.0
|
-5
|
120.5
|
130.0
|
6.1
|
7.35
|
5.2
|
Empire FW
|
|
including
|
120.5
|
124.9
|
2.8
|
14.13
|
9.4
|
Empire FW
|
|
800SP1MN1103
|
395967.4
|
643097.7
|
779.3
|
300.9
|
-14.9
|
204.4
|
217.7
|
10.5
|
8.60
|
17.6
|
Empire HW
|
|
including
|
210.9
|
214.6
|
2.5
|
15.41
|
22.6
|
Empire HW
|
|
800SP1MN1103
|
395967.4
|
643097.7
|
779.3
|
300.9
|
-14.9
|
226.1
|
232.6
|
6.5*
|
6.60
|
22.0
|
Martha
|
|
800SP2MN1097
|
395973.4
|
643107.7
|
780.1
|
292.0
|
-18
|
156.4
|
159.0
|
2.6
|
12.85
|
25.8
|
Empire
|
|
800SP2MN1097
|
395973.4
|
643107.7
|
780.1
|
292.0
|
-18
|
165.8
|
180.3
|
11.1
|
8.13
|
23.5
|
Empire HW
|
|
800SP2MN1097
|
395973.4
|
643107.7
|
780.1
|
292.0
|
-18
|
197.6
|
202.7
|
5.1
|
10.56
|
21.9
|
Martha
|
|
800SP2MN1099
|
395973.3
|
643107.8
|
779.9
|
310.5
|
-4.7
|
165.2
|
169.1
|
3.3
|
20.88
|
25.1
|
Empire HW
|
|
# Old Mt Eden
Coordinate system
|
* Downhole length
as not possible to determine true width
|
Table 3 – Significant Intersections from Waihi Gladstone and
Favona Resource Drilling
Drill Hole
ID
|
East#
(m)
|
North# (m)
|
Collar
RL (m)
|
Az#
|
Dip
|
From (m)
|
To (m)
|
True
width
(m)
|
Gold
Grade
(g/t)
|
Silver
Grade
(g/t)
|
Vein
|
|
|
1120SP2GR1082
|
397046.9
|
642529.3
|
1079.6
|
134.4
|
-9.1
|
116.30
|
145.90
|
23.0
|
2.20
|
4.7
|
Gladstone
|
|
UW557
|
397059.4
|
642327.4
|
1134.3
|
332.5
|
-43
|
85.00
|
99.70
|
14.7*
|
3.76
|
13.0
|
Gladstone
|
|
UW561
|
397100.5
|
642484.9
|
1147
|
139.2
|
-43.1
|
71.80
|
88.80
|
13.0
|
3.69
|
12.4
|
Gladstone
|
|
UW563
|
397100.4
|
642485.4
|
1147
|
120.7
|
-43.2
|
172.10
|
211.10
|
33.8
|
2.34
|
5.0
|
Gladstone
|
|
UW568
|
397099.4
|
642486.8
|
1146.9
|
155
|
-49
|
109.70
|
149.60
|
39.9*
|
2.13
|
7.4
|
Gladstone
|
|
UW584
|
397356
|
643060.4
|
1117
|
110.1
|
-40
|
110.30
|
128.70
|
18.4*
|
6.03
|
14.8
|
Favona
|
|
UW592
|
397381.9
|
642870.5
|
1115.9
|
295.4
|
-49.2
|
93.20
|
120.00
|
26.8*
|
6.17
|
11.7
|
Favona
|
|
UW593
|
397374.2
|
642931.5
|
1119.5
|
104
|
-49
|
62.40
|
96.30
|
33.9*
|
2.99
|
6.5
|
Favona
|
|
UW594
|
397360.7
|
643032.3
|
1117.7
|
105
|
-45
|
98.10
|
121.40
|
23.3*
|
3.64
|
9.5
|
Favona
|
|
UW595
|
397366.2
|
642981
|
1118.2
|
119.8
|
-40.2
|
82.00
|
116.90
|
34.9*
|
3.94
|
7.1
|
Favona
|
|
UW595
|
397366.2
|
642981
|
1118.2
|
119.8
|
-40.2
|
103.70
|
104.90
|
1.2*
|
57.50
|
98.6
|
Favona
|
|
UW596
|
397490.7
|
642881.2
|
1101.1
|
276.6
|
-57.2
|
85.00
|
99.55
|
14.5*
|
6.87
|
15.9
|
Favona
|
|
UW596
|
397490.7
|
642881.2
|
1101.1
|
276.6
|
-57.2
|
90.60
|
92.30
|
1.7*
|
40.28
|
66.1
|
Favona
|
|
UW600
|
397462
|
642901
|
1104
|
282
|
-43.2
|
62.50
|
66.60
|
4.1*
|
64.78
|
104.0
|
Favona
|
|
UW605
|
397366.5
|
642982
|
1118.2
|
105.9
|
-43.3
|
90.90
|
135.60
|
44.7*
|
1.70
|
3.7
|
Favona
|
|
# Old Mt Eden
Coordinate system
|
* Downhole length
as not possible to determine true width
|
Table 4 – Significant Intersections from Waihi - WKP
Exploration Drilling
Drill Hole
ID
|
East#
(m)
|
North# (m)
|
Collar
RL (m)
|
Az#
|
Dip
|
From (m)
|
To (m)
|
True
width
(m)
|
Gold
Grade
(g/t)
|
Silver
Grade
(g/t)
|
Vein
|
|
|
WKP40
|
2760135
|
6429847
|
184
|
163
|
-35
|
492
|
500.8
|
7.0
|
10.84
|
12.3
|
East
Graben
|
|
Macraes
Year-to-date, the Company has drilled 209 holes for a total of
24,228 metres, utilising one underground drill rig and two surface
drill rigs. Since the June update, the Company has completed a
total of 115 holes for a total of 12,800 metres of which
approximately 10,000 metres targeted mineralisation within
optimised shells at Frasers West, Coronation North and Innes Mills (Figure 4). Drill results are being
incorporated into updated resource models and will be reported in
the annual Resource and Reserve update in March 2018.
Within the Golden Point and Coronation North deposits, drilling
focused on extensions to known mineralisation. At Golden Point,
five holes intercepted significant mineralisation (Table 5, Figures
5 and 6) with further drilling scheduled for the remainder of the
year. At Coronation North six drill holes were completed targeting
the down-plunge extension to the resource. Assay results from the
six holes are comparable with those within the current optimised
design (Table 5, Figure 7).
Table 5 – Significant Intersections from Golden Point and
Coronation North
Drill Hole
ID
|
Project
|
East#
(m)
|
North# (m)
|
Collar
RL (m)
|
Az#
|
Dip
|
From (m)
|
To (m)
|
True
width
(m)
|
Gold
Grade
(g/t)
|
|
|
DDH6458
|
Golden
Point
|
70492
|
15676
|
448
|
269
|
-67
|
248.0
|
274.2
|
26.2
|
1.63
|
|
DDH6473
|
Golden
Point
|
70449
|
15729
|
447
|
265
|
-72
|
158.8
|
174.0
|
15.2
|
1.39
|
|
DDH6473
|
Golden
Point
|
70449
|
15729
|
447
|
265
|
-72
|
240.1
|
251.0
|
10.9
|
4.21*
|
|
RCD6402
|
Coronation
North
|
70177
|
20925
|
642
|
282
|
-82
|
182.3
|
185.6
|
3.3**
|
5.02
|
|
RCD6403
|
Coronation
North
|
70225
|
20926
|
639
|
318
|
-83
|
178.3
|
196.6
|
18.3**
|
1.15
|
|
RCD6404
|
Coronation
North
|
70252
|
20953
|
639
|
332
|
-81
|
201.9
|
206.8
|
4.9**
|
4.21
|
|
RCD6432
|
Coronation
North
|
70126
|
20974
|
635
|
336
|
-81
|
182.0
|
188.3
|
6.3**
|
4.24
|
|
# Macraes Gold
Project Grid
|
* Assays cut to
15g/t
|
** downhole length
as not possible to determine true width
|
United States
Haile
Since the release of the updated Haile National Instrument
43-101 Technical Report on August 10,
2017, the Company has drilled a total of 17,168 metres from
four surface diamond drills. This drilling included 60 diamond
drill holes for a total of 12,630 metres of resource definition and
15 diamond drill holes for a total of 4,538 metres of greenfields
exploration. Resource definition drilling was primarily conducted
at the Ledbetter, Mustang, Red Hill, Mill Zone and Snake deposits
(Figures 8 and 9, Table 6). At Red Hill, 10 infill drill holes were
completed with results presented in Table 6. Infill drilling
continues at Mill Zone, with 17 of 37 drill holes completed. At
Mustang-Ledbetter, 32 drill holes of a 46-hole program was
completed, and at Snake, 8 holes of a 36-hole drill program have
been completed.
Table 6 – Significant Intersections from Haile Drilling
Drill Hole
ID
|
East
NAD83
Z17N
(m)
|
North
NAD83
Z17N (m)
|
Collar
RL (m)
|
Az
|
Dip
|
From (m)
|
To (m)
|
Width (m)
|
Gold
Grade
(g/t)
|
Project
|
DDH0610
|
543491
|
3826938
|
152
|
154
|
-83
|
194.2
|
220.4
|
26.2
|
6.4
|
Horseshoe
|
DDH0610
|
543491
|
3826938
|
152
|
154
|
-83
|
377.2
|
438.3
|
61.1
|
15.7
|
Horseshoe
|
DDH0623
|
542519
|
3826369
|
145
|
137
|
-54
|
396.7
|
409.8
|
13.1
|
15.6
|
Palomino
|
DDH0623
|
542519
|
3826369
|
145
|
137
|
-54
|
427.6
|
436.2
|
8.6
|
7.9
|
Palomino
|
DDH0629A
|
542503
|
3826649
|
139
|
305
|
-57
|
289.6
|
369.8
|
80.2
|
2.7
|
Mustang
|
DDH0633
|
542503
|
3826649
|
139
|
297
|
-52
|
291.4
|
419.4
|
128.0
|
1.7
|
Mustang
|
DDH0637
|
542503
|
3826649
|
139
|
308
|
-50
|
275.2
|
432
|
156.8
|
2.4
|
Mustang
|
DDH0644
|
542672
|
3826787
|
142
|
132
|
-59
|
168.2
|
198.4
|
30.2
|
4.6
|
Ledbetter
|
DDH0651
|
542084
|
3826319
|
134
|
94
|
-81
|
43.5
|
86.5
|
43.0
|
2.3
|
Haile
|
DDH0653
|
541887
|
3827221
|
159
|
140
|
-53
|
436.5
|
479.2
|
42.8
|
1.1
|
Mustang
|
DDH0659
|
542779
|
3826865
|
139
|
303
|
-66
|
200.1
|
287.4
|
87.3
|
1.4
|
Ledbetter
|
DDH0660
|
542486
|
3826396
|
142
|
227
|
-45
|
43.4
|
80.8
|
37.3
|
3.3
|
Red Hill
|
DDH0661
|
541413
|
3826554
|
155
|
141
|
-48
|
257.8
|
299.0
|
41.2
|
1.8
|
Mill Zone
|
DDH0673
|
542090
|
3826495
|
131
|
254
|
-40
|
107.6
|
206.7
|
99.1
|
1.1
|
Mill Zone
|
DDH0677
|
542090
|
3826495
|
131
|
275
|
-49
|
76.4
|
157.2
|
80.8
|
1.1
|
Mill Zone
|
Philippines
Didipio
Didipio underground infill drilling continued with 24 holes
completed for a total of 3,810 metres drilled since the June
update. All holes intersected mineralisation (Table 7).
At the Chinichinga prospect, one hole was drilled for a total of
567 meters and did not intersect significant mineralisation.
Drilling at Napartan aims to test below coincident Au-Cu in soil
anomalies and identified Au-Cu mineralised pegmatitic dykes,
similar to those characterising the Didipio deposit.
At the Radio prospect, soil geochemistry identified at least
three areas with anomalous gold in soils. These areas have been
further tested with channel sampling at 24 locations, collecting
342 samples for multi-element analysis. Several channel samples
yielded anomalous gold grades with the highest returning 8m @ 2.43
g/t Au, 7m @ 2.60 g/t Au, and 8m @ 1.63 g/t Au in the Bisang area.
Some rock float and sub-crop immediately to the north of the Bisang
area also yielded gold values as high as 6.9 g/t Au indicating a
possible extension of the vein structure.
Exploration continues within the broader FTAA area (Figure 10)
with detailed surface mapping and soil sampling at the
D'Plok-Century Eggs-Liang, Papaya, and Radio prospects.
Table 7 - Significant Drill Intersections from
Didipio
Drill Hole
ID
|
East#
(m)
|
North# (m)
|
Collar
RL (m)
|
Az#
|
Dip
|
From (m)
|
To (m)
|
True
width^
(m)
|
Gold
Grade*
(g/t)
|
Copper
Grade*
(%)
|
Area
|
|
|
RDUG030
|
334639
|
1805697
|
398
|
48
|
-49
|
86.0
|
152.0
|
43
|
6.5
|
0.6
|
Didipio
|
|
RDUG031
|
334684
|
1805601
|
428
|
44
|
-13
|
119.0
|
188.0
|
59
|
1.9
|
0.6
|
Didipio
|
|
RDUG033
|
334639
|
1805697
|
398
|
43
|
-40
|
78.0
|
162.4
|
65
|
8.2
|
0.9
|
Didipio
|
|
RDUG034
|
334640
|
1805698
|
398
|
46
|
-28
|
65.0
|
130.0
|
57
|
4.6
|
0.5
|
Didipio
|
|
RDUG035
|
334640
|
1805669
|
398
|
47
|
-44
|
103.0
|
172.0
|
50
|
5.1
|
0.6
|
Didipio
|
|
RDUG036
|
334640
|
1805670
|
398
|
43
|
-29
|
78.0
|
153.0
|
66
|
5.0
|
0.6
|
Didipio
|
|
RDUG037
|
334640
|
1805669
|
398
|
44
|
-36
|
88.0
|
178.0
|
73
|
5.0
|
0.7
|
Didipio
|
|
RDUG038
|
334678
|
1805622
|
398
|
41
|
3
|
84.0
|
159.0
|
75
|
3.4
|
0.8
|
Didipio
|
|
RDUG039
|
334676
|
1805623
|
399
|
41
|
14
|
72.0
|
164.0
|
89
|
3.0
|
0.8
|
Didipio
|
|
RDUG040
|
334677
|
1805621
|
398
|
46
|
-11
|
74.0
|
160.0
|
85
|
2.2
|
0.6
|
Didipio
|
|
RDUG048
|
334684
|
1805601
|
427
|
41
|
7
|
34.0
|
148.0
|
113
|
2.0
|
0.3
|
Didipio
|
|
RDUG049
|
334699
|
1805586
|
427
|
41
|
-15
|
117.0
|
187.0
|
68
|
1.7
|
0.6
|
Didipio
|
|
# Coordinates and
Azimuth in UTM WGS84 Zone 51 grid and reported as whole
numbers.
|
*Results are
length weighted and reported above 1g/t EqAu cut-off based on
US$1250/oz gold and US$2.50/lb copper and composited to a minimum
10metres true width including a maximum 10metres contiguous true
width of sub-grade mineralization and rounded to one decimal place,
reflecting the approximate nature of the calculation. Top-cut of
20g/t Au and 20% Cu applied. EqAu g/t = Au g/t + (Cu% x
1.3714).
|
^ Approximate True
Width reported as whole numbers, reflecting the approximate nature
of the calculation.
|
Results are
reported for completed holes that traverse the full width of
mineralisation and where >130 mtw*EqAu.
|
Argentina
In May 2017, the Company entered
into an option agreement with Mirasol Resources Ltd ("Mirasol")
pursuant to which the Company has an option to earn up to 75% of
interest in the La Curva Gold Project located in Santa Cruz Province, Argentina (Figure 11) ("La Curva"). Mirasol
commenced a 2,500-metre diamond core drill campaign in October, and
the exploration has outlined three gold prospects at Cerro Chato,
Loma Arthur and SouthWest, situated
along the six-kilometre-long "La Castora" Trend. These prospects
represent compelling drill targets for high-grade, low sulfidation
epithermal gold and silver mineralisation and are characterised by
coincident large-scale outcropping alteration, IP geophysical
anomalies, and anomalous rock chip assays ranging up to 66.8 g/t
Au. The current initial drill campaign is planned to deliver
a shallow, 17-hole test of the Castora Trend targets. Additionally,
a series of early-stage prospects have also been identified in the
Curva West prospect where rock chip anomalies ranging up to 20.73
g/t Au and 153.6 g/t Ag are found in a prospective geological
setting and represent future drill targets.
For further information in relation to the La Curva option
agreement, please refer to Mirasol's news release dated
May 25, 2017 and located at
http://mirasolresources.com/mirasol-oceanagold-sign-definitive-exploration-option-agreement-la-curva-gold-project-santa-cruz-argentina/.
All exploration data and disclosures related to LaCurva can be
located on Mirasol's website and more specifically at
http://mirasolresources.com/mirasol-commences-2500-m-drilling-campaign-la-curva-santa-cruz-argentina/
All drill data in relation to the Company's New Zealand, US and Philippines assets 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 the New
Zealand, US and Philippines
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 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 recently commissioned 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 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 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.
Competent/Qualified Person's Statement
The resources and 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 the Canadian Securities Administrators ("NI 43-101").
The JORC Code is the accepted reporting standard for the Australian
Stock Exchange Limited ("ASX").
Information relating to Haile and Didipio exploration results in
this document has been verified by, is based and fairly represents
information compiled by or prepared under the supervision of
Jonathan Moore, a Member and
Chartered Professional with the Australian Institute of Mining and
Metallurgy and an employee of OceanaGold. Information
relating to Waihi exploration results in this document has been
verified by, is based on and fairly represents information compiled
by or prepared under the supervision of Lorrance Torckler, a Fellow
of the Australasian Institute of Mining and Metallurgy and an
employee of OceanaGold. Information relating to Macraes exploration
results in this document has been verified by Hamish Blakemore, a member of the Australian
Institute of Geoscientists (AIG) and an employee of OceanaGold. J.
Moore, L. Torckler and H. Blakemore have 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
all are Qualified Persons for the purposes of the NI 43 101. Messrs
Moore, Torckler and Blakemore consent to the inclusion in this
public report of the matters based on their information in the form
and context in which it appears.
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