OceanaGold Extends High-Grade Mineralization at Wharekirauponga and Welcomes New Zealand's New Fast Track Approvals Bill
The Company also welcomes yesterday's announcement by
The recently announced introduction of the Fast Track Approvals Bill signals a new focus by the
Highlight drill intercepts include (estimated true width):
- 61.9 g/t Au over 4.0 m from 534.4 m, EG Vein (WKP118C)
- 31.0 g/t Au over 5.2 m from 513.7 m, EG Vein (WKP124A)
- 58.5 g/t Au over 2.5 m from 474.7 m, EG HWS Vein (WKP118C)
- 19.0 g/t Au over 6.3 m from 471.9 m, EG Vein (WKP113A)
- 11.3 g/t Au over 6.7 m from 523.0 m, EG Vein (WKP111D)
Since the 2023 resource model data cut-off, drilling has continued to intersect high-grade mineralization in 10 holes on the East Graben (EG) Vein system in both the southern and northern shoots (Table 1, Figures 2 and 3). Opportunities remain for up-plunge, down-plunge and along-strike extensions of the EG Vein. High-grade intercepts remain open. Step-out drilling in hole WKP100, the most southerly hole on the EG Vein (previously released), confirmed mineralization of comparable width occurs a further 200 metres along strike of the currently defined high-grade southern shoot. Final approvals are pending for a new drill site to enable more effective drill testing of this strike extension. The EG Vein system remains the primary, near-term target for drilling with 11,300 metres planned in 2024, targeting resource conversion and growth.
For maps and sections see Figures 1-4 and Table 1 for full results.
The Wharekirauponga low sulphidation epithermal Au-Ag vein system is located approximately 10 kilometres to the north of the
Wharekirauponga is part of the
Drill Hole ID |
From (m) |
To (m) |
True width (m) |
Au (g/t) |
Ag (g/t) |
Vein |
|
|
|||||||
WKP111D |
523.0 |
531.8 |
6.7 |
11.3 |
9.9 |
EG |
|
WKP118C |
474.7 |
478.3 |
2.5 |
58.5 |
96.6 |
EG HWS |
|
WKP118C |
534.4 |
540.7 |
4.0 |
61.9 |
80.0 |
EG |
|
WKP113A |
471.9 |
479.6 |
6.3 |
19.0 |
18.8 |
EG |
|
WKP113B |
478.4 |
487.5 |
7.5 |
7.4 |
5.7 |
EG |
|
WKP122 |
306.0 |
308.3 |
1.4 |
14.0 |
33.8 |
EG |
|
WKP123 |
307.3 |
310.4 |
2.0 |
8.9 |
27.2 |
EG |
|
WKP124A |
513.7 |
520.5 |
5.2 |
31.0 |
41.7 |
EG |
|
WKP125 |
320.9 |
322.2 |
1.0 |
16.5 |
28.5 |
EG |
|
WKP125 |
284.4 |
284.8 |
0.3 |
55.1 |
66.0 |
EG HW |
|
WKP126 |
298.3 |
299.6 |
0.8 |
2.3 |
7.0 |
EG |
|
WKP127 |
365.6 |
369.4 |
1.9 |
6.4 |
20.8 |
EG |
|
For further information relating to drill hole data for Wharekirauponga please refer to the Company's website at https://investors.oceanagold.com/additional-drillhole-data.
All exploration samples are assayed for gold by 30g fire assay with AAS finish. Since mid-2022 drill core sample intervals where visible electrum is logged are followed up by a subsequent screen fire assay after the routine 30g fire assay. Holes WKP40-45 had core samples shipped for sample preparation to SGS in
Quality of exploration assay results has been monitored in the following areas:
- Sample preparation at the SGS Waihi and
Westport labs through sieving of jaw crush and pulp products. - Monitoring of assay precision through routine generation of duplicate samples from a second split of the jaw crush and calculation of the fundamental error.
- Monitoring of accuracy of the primary SGS assay and ALS results through insertion Certified Reference Materials (CRM's) and blanks into sample batches.
Blank, duplicate and CRM results are reviewed prior to uploading results in the AcQuire database and again on a weekly basis. The protocol at Waihi requires CRMs to be reported to within 2 standard deviations of the certified value. The criterion for preparation duplicates is that they have a relative difference (R-R1/mean RR1) of no greater than 10%. Blanks should not exceed more than 4 times the lower detection value of the assay method. Failure in any of these thresholds triggers an investigation and if appropriate re-assay. Drill core is stored within secure facilities on site to which access is controlled. Site employees transport samples to the analytical laboratory which is also a secured facility.
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 ("NI 43-101").
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
For further information, please refer to the following NI 43-101 compliant technical report available on the SEDAR+ website at www.sedarplus.com under the Company's name and the Company's news release titled "OceanaGold Reports Mineral Reserves and Resources for the Year Ended 2023" dated
- "Waihi District Study - Preliminary Economic Assessment NI 43-101 Technical Report" dated
August 30, 2020 , prepared byT. Maton ,Study Manager andP. Church , Principal Resource Development Geologist, both ofOceana Gold (New Zealand) Limited , andD. Carr , Chief Metallurgist, ofOceanaGold Management Pty Limited .
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
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