OceanaGold Extends Mineralization 200 Metres at the High-Grade Wharekirauponga Deposit
Highlight drill intercepts include (estimated true width):
- 9.9 g/t Au over 20.3 m from 410.0 m, EG Vein (WKP129A, conversion)
- 19.4 g/t Au over 7.1 m from 398.0 m, EG HWS Vein (WKP129A, conversion)
- 34.5 g/t Au over 3.8 m from 573.0 m, EG Vein (WKP130A, extension)
- 12.8 g/t Au over 5.6 m from 569.1 m, EG Vein (WKP130, extension)
- 14.2 g/t Au over 3.0 m from 497.1 m, EG Vein (WKP131, extension)
- 5.6 g/t Au over 8.3 m from 644.7 m, EG Vein (WKP130B, extension)
Results Overview
Since the
Extensional Drilling
In late
There were 4 resource extension holes drilled from drill site 8 and a further 4 resource extension holes from drill site 1 (Figure 1), all of which intersected significant mineralization and demonstrate strong grade and structural continuity along strike of the existing resource (Figure 2, Table 1). Other opportunities remain for up-plunge, down-plunge, and along-strike extensions of the EG vein system with all intercepts remaining open to the south over a vertical window of approximately 200 metres. The EG vein system remains the primary, near-term drill target for the 2024 21-hole growth and conversion program, with the T-Stream and Western Vein targets offering similar growth potential and warrant future additional drilling (Figure 1).
Resource Conversion Drilling
Another resource conversion drillhole, WKP129A, was completed from drill site 1 and returned excellent results (9.9 g/t Au over 20.3 metres (true width) and 19.4 g/t Au over 7.1 metres (true width). This hole supports the model with significant grade and width, resulting in a ~150 metre strike of high-grade mineralization remaining open up-dip for further testing.
2024 Exploration Program
Exploration drilling for the remainder of the 2024 program will target resource growth from drill sites 8 and 9, testing beyond the current southern extent of drilling, and up-dip of both current and future extension holes in the south. The NI 43-101 pre-feasibility study, scheduled for release by the end of the year, will be based on an interim resource model with drillhole data as of the end of
For maps and sections see Figures 1-3 and Table 1 for full results.
Table 1: WKP drill intersections subsequent to the
Drillhole ID |
From (m) |
To (m) |
True width (m) |
Au (g/t) |
Ag (g/t) |
Vein |
Purpose |
WKP129A |
398.0 |
409.1 |
7.1 |
19.4 |
47.8 |
EG HWS |
Conversion |
WKP129A |
410.0 |
438.7 |
20.3 |
9.9 |
24.9 |
EG |
Conversion |
WKP129A |
454 |
459.5 |
4.8 |
10.5 |
26.1 |
EG FW |
Extension |
WKP130 |
569.1 |
575.9 |
5.6 |
12.8 |
8.7 |
EG |
Extension |
WKP130A |
573 |
578.4 |
3.8 |
34.5 |
19.9 |
EG |
Extension |
WKP130B |
644.7 |
661.2 |
8.3 |
5.6 |
9.0 |
EG |
Extension |
WKP130C |
599.7 |
605 |
3.4 |
5.8 |
8.2 |
EG |
Extension |
WKP131 |
497.1 |
500.4 |
3.0 |
14.2 |
22.7 |
EG |
Extension |
WKP132 |
448.4 |
451.7 |
3.0 |
9.2 |
7.4 |
EG |
Extension |
WKP133 |
467.9 |
475 |
5.8 |
3.5 |
5.4 |
EG |
Extension |
WKP133A |
505.4 |
510.8 |
4.1 |
5.9 |
23.0 |
EG |
Extension |
WKP133B |
531.7 |
537 |
3.4 |
6.1 |
7.7 |
EG |
Extension |
WKP134 |
450 |
455.3 |
5.0 |
4.3 |
5.3 |
EG |
Extension |
For further information relating to drill hole data for WKP, please refer to the Company's website at https://investors.oceanagold.com/additional-drillhole-data.
About WKP and the
The WKP low-sulphidation epithermal Au-Ag vein system is located approximately 10 kilometres north of the Company's Waihi operation. The WKP Indicated Resource stands at 2.0 million tonnes grading 15.9 g/t Au for 1.01 million ounces of gold with a further 1.2 million tonnes grading 9.0 g/t Au for 0.35 million ounces of gold in the Inferred category as of
WKP is part of the
About
Quality Assurance and Quality Control (QA/QC) at Wharekirauponga,
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.
Qualified Person Statement
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
Technical Reports
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
(a) |
"Waihi District Study - Preliminary Economic Assessment NI 43-101 Technical Report" dated |
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
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