OceanaGold (TSX:OGC) has provided an update on its exploration programs in the United States, New Zealand and the Philippines. As quoted in the press release: Key Highlights Completed Phase 1 and 2 drilling at the Horseshoe deposit at Haile in early September with recent significant intercepts that include 11.2m @ 35 g/t Au, 50.6m @ …
OceanaGold (TSX:OGC) has provided an update on its exploration programs in the United States, New Zealand and the Philippines.
As quoted in the press release:
- Completed Phase 1 and 2 drilling at the Horseshoe deposit at Haile in early September with recent significant intercepts that include 11.2m @ 35 g/t Au, 50.6m @ 6.8 g/t Au, 27.4m @ 11.7 g/t Au and 27.2m @ 11.3 g/t Au.
- Strong results from surface drilling at Waihi with significant intercepts that include 44m @ 3.63 g/t Au (including 13.7m @ 8.83 g/t Au) and 34.9m @ 5.20 g/t Au.
- Discovery of a shallow, high grade shoot within the known mineralisation at the Nunns prospect at Macraes with significant intercepts that include 6m @ 5.13 g/t Au, 6m @ 3.02 g/t Au and 10m @ 1.83 g/t Au.
- Further encouraging drill results that will support an increase in the Coronation North resource including 21m @ 3.64 g/t Au, 19m @ 2.78 g/t Au and 19m @ 2.51 g/t Au.
- Continued encouraging drill results at Frasers underground with significant intercepts that include 8.5m @ 4.06 g/t Au and 4.8m @ 3.42 g/t Au from Panels 2 and 3A.
- Commenced a 50,000 metre infill and resource extension drill program of the Didipio underground in September.
Mick Wilkes, president and CEO, said:
“I am pleased to report that the investment we’ve made thus far on exploration this year continues to yield strong results that demonstrate the significant organic growth potential of our business. Drilling at Haile has increased our confidence with better than expected high-grade intercepts at Horseshoe. The results of this drilling along with the results of the recently completed Haile underground PEA will be important inputs for the Haile optimisation study in 2017.”
He went on to say, “After 26 years of successful operations at Macraes, we continue to make new discoveries with Coronation North last year and now the Nunns prospect where we will expand the drill program to further define its potential. At Waihi, recent drilling beneath the existing open pit has demonstrated significant mineralisation that has the potential to meaningfully extend the mine life of the operation.”