OceanaGold drills 16.17 g/t gold over 73.8 metres at Haile, South Carolina
OceanaGold Corp. [TSX-OGC; OTCQX-OCANF] has provided an update on results from the 2023 exploration and resource conversion programs at the Haile gold mine, South Carolina, United States and Wharekirauponga, New Zealand.
Gerard Bond, President CEO. “2023 has been a successful year for resource conversion at OceanaGold. Drill results released during this year highlight the upside potential for growth within our existing mine footprint at Haile, while results at Wharekirauponga continue to demonstrate the exceptional grade and continuity within the EG vein. Today’s drill results provide increased confidence in our resource base and will be reflected in our updated reserves and resource statement to be released early next year.”
Highlights: Haile resource conversion highlights include (core length): 73.8 metres of 16.17 g/t Au, Horseshoe (UGD0008 – conversion) 19.1 metres of 8.63 g/t Au and 31.4 metres of 9.59 g/t Au, Horseshoe (UGD0017 – conversion) 22.6 metres of 5.43 g/t Au, Horseshoe (UGD0003 – conversion) 73.2 metres of 4.92 g/t Au, Palomino (DDH1194 – conversion) 21.3 metres of 6.15 g/t Au, Palomino (DDH1197 – conversion)
Wharekirauponga resource conversion highlights include (estimated true width intersections): 5.0 metres of 77.1 g/t Au and 111.6 g/t Ag, EG Vein (WKP118B – conversion) 8.4 metres of 42.2 g/t Au and 90.7 g/t Ag, EG Vein (WKP118A – conversion) 4.4 metres of 41.6 g/t Au and 54.2 g/t Ag, EG HWS Vein (WKP118B – conversion) 3.7 metres of 39.1 g/t Au and 70.3 g/t Ag, EG HWS Vein (WKP118A – conversion) 1.5 metres of 79.2 g/t Au and 208.2 g/t Ag, EG Vein (WKP121 – conversion) 3.8 metres of 25.8 g/t Au and 106.0 g/t Ag, EG Vein (WKP111B – conversion) Haile
A program of resource conversion drilling at Horseshoe Underground totalling ~18,400 metres is scheduled to be completed by the end of 2024. To date, conversion drilling totalling 6,513 metres in 15 holes has been completed, with 3,896 metres completed since the September 14, 2023 news release.
Drilling from underground has targeted the conversion of the lower Horseshoe Inferred resource with 12 holes to date and assay results from four new holes since the last update. Highlights from recent drilling include 73.8 metres of 16.17 g/t gold from hole UGD0008, in line with the block model estimate, and is similar to hole UGD0002 returning 73.9 metres of 13.03 g/t gold released in September 2023.
Results were received from five remaining resource conversion holes at Palomino, located approximately 800 metres southwest of the Horseshoe Underground mine, where future access may be gained from underground infrastructure. Highlights included 73.2 metres of 4.92 g/t Au (including 9.1 metres of 9.63 g/t Au) in hole DDH1194 and 21.3 metres of 6.15 g/t Au (including 4.6 metres of 16.32 g/t Au) in hole DDH1197. The Palomino resource conversion drill program is now complete, all assay results have been received, and modelling is underway for a resource update in early 2024.
Since the June 19, 2023 exploration update, 5,700 metres have been drilled at Wharekirauponga, targeting the conversion of Inferred resources in the EG Vein Zone. New intercepts for the EG vein and the EG Hanging Wall Splay (EG HWS) continue to increase confidence in the geologic model and high-grade continuity of the deposit. 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 continues for at least a further 200 metres along strike of the currently defined southern shoot. A new drill site is being consented to enable drill testing of the south-westerly strike extensions of the mineralization above hole WKP100. The EG Vein Zone remains the primary, near-term target for drilling with resource conversion and extensional drilling to continue through the remainder of 2023 and 2024.
OceanaGold has a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.