OceanaGold Delivers Strong Exploration Results at Wharekirauponga, Enhances Waihi North Project Prospects
Vancouver, BC – November 14, 2024 – OceanaGold Corporation (OGC, OCANF), a leading gold and copper producer, is thrilled to announce impressive results from its ongoing exploration and resource conversion program at Wharekirauponga, located approximately 10 kilometers from the Waihi operation in New Zealand. This news comes ahead of the highly anticipated release of a NI 43-101 pre-feasibility study for the Waihi North Project and the existing Waihi operation on December 11, 2024.
High-Grade Intercepts Signal Significant Potential
The recent drilling program at Wharekirauponga has yielded exceptional intercepts along the East Graben (EG) vein zone, further solidifying the project’s immense potential. The exploration program has consistently uncovered high-grade gold mineralization over impressive widths, particularly within the southern and northern zones. Some of the most noteworthy intercepts include:
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34.7 g/t Au over 4.2 m from 563.5 m, EG vein (WKP124B)
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16.8 g/t Au over 5.7 m from 644.3 m, EG FW vein (WKP124C)
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11.4 g/t Au over 7.7 m from 453.5 m, EG vein (WKP134A)
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13.0 g/t Au over 6.6 m from 233.4 m, EG vein (WKPP15D)
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54.9 g/t Au over 1.4 m from 531.6 m, EG vein (WKP124D)
Gerard Bond, President & CEO of OceanaGold,
emphasized the significance of these findings: “Today’s results demonstrate the phenomenal exploration upside potential at Wharekirauponga with new intercepts along the EG vein zone continuing to return high-grade over excellent widths. We are preparing the results of the NI 43-101 pre-feasibility study which is planned to be released in December, and we expect will highlight the value, longevity, and potential of this exceptional deposit.”Expanding the Resource Footprint
Since the August 8, 2024, Wharekirauponga news release, extensional drilling has intersected significant mineralization in all six holes on the EG vein zone. These results demonstrate the continued potential for extensions to the EG vein and the identification of high-grade shoots within the existing resource footprint. The upcoming NI 43-101 pre-feasibility study, scheduled for release in December, will be based on the resource model as of the end of May 2024. The recent exploration results represent further upside potential to the outcomes of this study.
A Promising Future for Waihi North
The Wharekirauponga project is a cornerstone of the Waihi North Project, which has the potential to create significant socio-economic benefits for the communities in the Waihi region and for New Zealand. The project is poised to generate substantial in-country investments, create new employment opportunities, and extend the operational lifespan of the Waihi mine beyond the next decade. OceanaGold operates with a strong commitment to environmental and social responsibility, having established a successful and responsible mining presence in New Zealand for over three decades. The company has already lodged a resource consent application for the Waihi North Project with the Hauraki District Council and Waikato Regional Council and has been listed as a proposed project under the Fast-track Approvals Bill in New Zealand.
NI 43-101 Pre-Feasibility Study Release
The company plans to release the results of the NI 43-101 pre-feasibility study for the Waihi North Project after market close on Wednesday, December 11, 2024. The results will be made available on the company’s website at www.oceanagold.com. A webcast hosted by senior management will be held on Thursday, December 12, 2024, at 10:00 am Eastern Time to discuss the findings. To register for the webcast, please copy and paste the following link into your browser: https://app.webinar.net/DdjR72Pnakx.
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer dedicated to safely and responsibly maximizing the generation of free cash flow from its operations and delivering strong returns for its shareholders. The company operates four mines: the Haile Gold Mine in the United States, Didipio Mine in the Philippines, and the Macraes and Waihi operations in New Zealand.
Key takeaways:
* OceanaGold has discovered significant high-grade gold mineralization at Wharekirauponga, further enhancing the potential of the Waihi North Project.
* The NI 43-101 pre-feasibility study for the Waihi North Project will be released on December 11, 2024.
* The project has the potential to create significant socio-economic benefits for the Waihi region and New Zealand.
* OceanaGold is committed to operating with the highest environmental and social standards.
