OceanaGold (ASX: OGC) has reported a series of new ‘high grade’ gold and silver intercepts from 2021 resource conversion drilling at its Wharekirauponga prospect in New Zealand.
The results are taken from 10 drill holes for a total of 4,940m along the East Graben vein zone, along with 1,003m at other targets, and include:
- Hole WKP101:
- 10.3m @ 39.1 g/t Au and 73.4 g/t Ag from 377.0m
- 10.2m @ 26.5 g/t Au and 41.4 g/t Ag from 393m
- 6.8m @ 29.2 g/t Au and 61.0 g/t Ag from 426.7m
- Hole WKP106:
- 9.1m @ 23.7 g/t Au and 28.3 g/t Ag from 398.7m
- 4.5m @ 19.7 g/t Au and 29.0 g/t Ag from 412.0m
- 15.7m @ 21.5 g/t Au and 26.9 g/t Ag from 419.0m
Addressing the results, OceanaGold Acting President & CEO Scott Sullivan said “The drill results at WKP continue to demonstrate the significance of this discovery for OceanaGold. Step-out exploration drilling in 2021 confirmed that the East Graben vein remains well developed a further 200 metres along strike to the south, is mineralised and remains open in multiple directions. This year’s drill campaign is already underway with two rigs, and we are continuing to focus on resource conversion drilling of the East Graben vein zone. Our next Mineral Resource update for WKP is expected at the end of the first quarter of this year. The Company has allocated US$10 million for exploration efforts, a significant increase to the budget, as we seek to expand the potential of WKP and to further demonstrate the significance of this discovery.
Meanwhile the Company continues to advance the permitting process and expects to lodge the permit applications with the Regional and District Councils in the first half of 2022. The critical path to success remains the consenting process however, while the process is ongoing, we continue to advance our technical studies. As mentioned last year, we have expanded the scope of the Waihi North Project given the potential scale we see, and the need to complete additional technical works to allow for optimal mine plans and designs.
“The Waihi District has the potential to create significant socio-economic contributions for the communities in the Coromandel region and for New Zealand”
The Waihi District has the potential to create significant socio-economic contributions for the communities in the Coromandel region and for New Zealand. This includes significant in-country investments and a substantial increase to direct and in-direct employment opportunities. We are envisaging the development of a mine that aligns well with the Company’s commitment to climate change. OceanaGold is one of the top- rated ESG gold miners globally. We operate to the highest environmental and social standards which has enabled us to run a successful and responsible mining business in New Zealand for over three decades.”
OceanaGold has completed 8,916m of drilling at Wharekirauponga since a Mineral Resource update in February 2020, focused primarily on resource conversion drilling at the East Graben Vein, along with an additional 2,518m as part of geohydrological studies and geotechnical studies.
The company reports that it is in the process of completing a geological and resource model update, which will include data from 2022 and 2021 drilling. This is expected to be released at the end of March 2022.
Images: OceanaGold Corporation
