OceanaGold Reports Maiden Resource for Coronation North

OceanaGold Corp. (TSX:OGC,ASX:OGC) announced further drill results from a brownfields exploration program in the Macraes goldfield and from its New Zealand-based Waihi gold mine.
Significantly, the company put out a maiden resource estimate for Coronation North, located at the Macraes goldfield.
Highlights include:

• Maiden resource for Coronation North at Macraes Goldfield of 2.75 million tonnes grading 1.52 g/t for approximately 130,000 ounces in the Indicated category plus 5.33 million tonnes grading 0.95 g/t for 160,000 ounces in the Inferred category.
• Encouraging drilling at Correnso and Daybreak veins demonstrate potential extensions for Waihi.
• Significant intercepts at Correnso that include 3.9 metres @ 13.1 g/t Au, 4.9 metres @ 18.0 g/t Au and 2.0 metres @ 18.4 g/t Au.
• Significant intercepts at Daybreak that include 5.3 metres @ 11.4 g/t Au, 3.9 metres @ 33.8 g/t Au and 5.8 metres @ 26.1 g/t Au.
• Significant intercepts at Quattro that include 7.6 metres @ 5.6 g/t Au and 1.8 metres @ 29.1 g/t Au.

Mick Wilkes, managing director and CEO of OceanaGold, commented:

After the successful acquisition of two high quality assets in Haile and Waihi, we are now focused on creating value through organic growth, in particular adding to our resource and reserve base. In July this year, we announced encouraging drill results for Macraes and are now pleased to announce further drill results that have culminated in a maiden resource at Coronation North and further potential increases to our reserves underground.
At Waihi, drilling in the third quarter has demonstrated potential extensions of the Correnso operation at depth and laterally at targets Daybreak and Empire. Additionally, new drilling targets have been identified and we are putting together an extensive exploration program for 2016 to significantly increase the resource base.

Click here to read the full OceanaGold Corp. (TSX:OGC,ASX:OGC) press release.