OceanaGold Announces New Discovery and Additional High-Grade Drill Results at Haile
February 24, 2025
News Release
OceanaGold Announces New Discovery and Additional High-Grade Drill
Results at Haile
(VANCOUVER) OceanaGold Corporation (TSX: OGC; OTCQX:OCANF) (“OceanaGold” or the “Company”)
is pleased to provide results from exploration and resource conversion drilling at the Haile Gold Mine
(“Haile”) in the United States.
Drill highlights include (core length):
Pisces (initial drilling, located 300 m from Horseshoe)
• 44.2 m @ 10.9 g/t Au (DDH1267)
• 9.4 m @ 44.1 g/t Au (DDH1269)
• 42.7 m @ 6.1 g/t Au (DDH1257)
Horseshoe (definition drilling)
• 12.9 m @ 50.1 g/t Au (UGD0073)
• 31.9 m @ 11.7 g/t Au (UGD0075)
• 21.7 m @ 7.3 g/t Au (UGD0069)
• 19.4 m @ 6.7 g/t Au (UGD0077)
• 19.2 m @ 6.5 g/t Au (UGD0063)
• 22.6 m @ 5.3 g/t Au (UGD0065)
• 7.4 m @ 16.1 g/t Au (UGD0072)
Gerard Bond, President & CEO of OceanaGold, said “Today’s exciting new discovery at Haile continues to
demonstrate the exceptional return on investment we receive from exploration. While still early-days at the
Pisces discovery, we are excited about its size potential and it remains open in multiple directions. Pisces
is close to existing and planned underground infrastructure, which may provide benefits from a mining
perspective. Due to the phenomenal exploration success we have seen at Haile recently, including Pisces,
Horseshoe and Ledbetter Phase 4, we increased the 2025 exploration budget at Haile by 20% to $10M,
the largest exploration budget at Haile since the mine has been in production. This supports our strategy
of increasing shareholder value through the drill bit.”
Results can be viewed in 3D using VRIFY at the following link:
https://vrify.com/meetings/recordings/0bcf42cb-b154-4a06-b85c-9f16e267eb8c
VRIFY note: Drill results reflect those set forth in OceanaGold’s press release dated February 23, 2025 and do not include all
historical drill results except those relevant to the current Pisces exploration target.
Pisces Discovery
The Pisces discovery is located along the prospective corridor between the Horseshoe and Palomino
deposits at approximately 550 metres below surface (Figure 1). Mineralization intercepted to date defines
an exploration target1 area of approximately 300 x 250 x 25 metres, where the strike length approximates
that of the Horseshoe resource. Mineralization is similar in style to Horseshoe and Palomino, occurring at
the metavolcanic/metasediment contact , and hosted by silicified and sulphidized laminated siltstone with
zones of local brecciation.
A total of 3,437 metres and five holes have been drilled during the current program, testing the thickness
and continuity of mineralization in the vicinity of historical drill holes. Significant intercepts were returned
including 44.2 m @ 10.9 g/t Au (DDH1267), 9.4 m @ 44.1 g/t Au (DDH1269), and 42.7 m @ 6.1 g/t Au
(DDH1257) (see Figure 2 for DDH1257 and DDH1267 and Table 1). This drilling follows up on the historic
results in this area which include 14.4 m @ 4.7 g/t Au (RCT0205), 24.4 m @ 3.1 g/t Au (RCT0165) and 7.6
m @ 7.4 g/t Au (RCT0209) (see Table 2 for historical drill hole results).
Mineralization at Pisces remains open in all directions ; to the northeast towards Horseshoe and to the
southwest towards Palomino, as well as up and down dip. Drilling has been accelerated with an increased
budget to better define the continuity of geology and grade, and ascertain the potential size of this new
opportunity, as early as possible.
1. The exploration target is based on the assessment of limited drill data collected by the Company at Haile. The exploration target
is conceptual in nature and insufficient exploration has been undertaken in the area that the exploration target relates to estimate
a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.
Figure 1: Plan view of the location of the Pisces exploration target
Figure 2: Long section A-A’ showing Pisces exploration target with drill holes (including historic drill holes) annotated
Horseshoe
Eighteen additional resource definition holes for 5,587 metres have been completed since the cut -off date
for the 2024 year-end resource estimate for the Horseshoe underground (see news release dated February
19, 2025). These holes targeted southwest extensions to Horseshoe and focused on defining the continuity
and extent of three zones: the middle zone with 12 holes, the lower zone with 5 holes, and the upper zone
with 1 hole (Figure 3). The results received were in line with expectations and support potential additional
growth of the Horseshoe underground resource.
Extensions of the middle zone returned 12.9 m @ 50.1 g/t Au (UGD0073) and 11.1 m @ 4.4 g/t Au
(UGD0061). Additional significant results within the middle zone resource include 31.9 m @ 11. 7 g/t Au
(UGD0075), 21.7 m @ 7.3 g/t Au (UGD0069), 19.4 m @ 6.7 g/t Au (UGD0077), and 19.2 m @ 6.5 g/t Au
(UGD0063) (see Table 1).
Extensions of the lower zone include 4.8 m @ 5.4 g/t Au (UGD0071) and 3.1 m @ 6.4 g/t Au (UGD0068).
An additional 10,500 metres of resource definition and conversion drilling in 2025 has commenced at
Horseshoe.
Figure 3: Schematic long section (looking north-west) showing Horseshoe mineralization and recent drill holes annotated
Table 1: Recent Haile drill intersections.
Hole ID From To Interval Au Target Activity (m) (m) (m) (g/t)
DDH1266 NSR Pisces Initial Drilling
DDH1267 591.0 635.1 44.2 10.9 Pisces Initial Drilling
DDH1269 686.1 695.5 9.4 44.1 Pisces Initial Drilling
Including 686.1 687.6 1.5 228.0 Pisces Initial Drilling
Including 687.6 690.1 2.5 15.1 Pisces Initial Drilling
DDH1257 560.2 602.9 42.7 6.1 Pisces Initial Drilling
Including 587.4 590.7 3.3 30.9 Pisces Initial Drilling
DDH1247 NSR Pisces Initial Drilling
UGD0058 288.8 298.2 9.3 3.1 Horseshoe Definition
UGD0059 NSR Horseshoe Definition
UGD0060 258.5 265.8 7.3 4.1 Horseshoe Definition
UGD0061 257.5 268.6 11.1 4.4 Horseshoe Definition
UGD0063 272.8 292.0 19.2 6.5 Horseshoe Definition
UGD0064 270.7 281.3 10.7 1.8 Horseshoe Definition
UGD0065 255.4 278.0 22.6 5.3 Horseshoe Definition
UGD0066 NSR Horseshoe Definition
UGD0067 252.6 260.7 8.1 4.6 Horseshoe Definition
UGD0068 259.1 263.2 3.1 6.4 Horseshoe Definition
UGD0069 256.6 278.3 21.7 7.3 Horseshoe Definition
Including 266.4 272.2 5.8 16.0 Horseshoe Definition
UGD0071 261.7 266.6 4.8 5.4 Horseshoe Definition
UGD0072 272.2 279.6 7.4 16.1 Horseshoe Definition
UGD0073 264.2 277.1 12.9 50.1 Horseshoe Definition
Including 266.2 267.5 1.2 149.0 Horseshoe Definition
UGD0074 NSR Horseshoe Definition
UGD0075 228.6 260.5 31.9 11.7 Horseshoe Definition
Including 238.8 242.3 3.6 54.9 Horseshoe Definition
UGD0076 338.3 345.5 7.2 11.9 Horseshoe Definition
UGD0077 242.8 262.1 19.4 6.7 Horseshoe Definition
And 272.4 288.0 15.6 6.6 Horseshoe Definition
Notes:
• I ntervals are core length, not true width.
• “ Initial Drilling” intercept is associated with early -stage exploration drilling, while “Definition” drilling are intercepts outside the
current resource model shell directed at converting mineralization to an Inferred resource category. NSR = No Significant Result.
Table 2: Historical Haile drill intersections relevant to the current Pisces exploration target.
Hole ID From To Interval Au Target Activity (m) (m) (m) (g/t)
DDH0397 NSR Pisces Initial Drilling
DDH0596^ NSR Pisces Initial Drilling
DDH0598^ NSR Pisces Initial Drilling
DDH0474 NSR Pisces Initial Drilling
DDH0467 NSR Pisces Initial Drilling
DDH0622A^ NSR Pisces Initial Drilling
RCT0083** 385.6 393.2 7.6 11.7 Pisces Initial Drilling
RCT0145* NSR Pisces Initial Drilling
RCT0147 545.1 548.6 3.5 3.4 Pisces Initial Drilling
RCT0165* 684.3 708.7 24.4 3.1 Pisces Initial Drilling
RCT0166 NSR Pisces Initial Drilling
RCT0198 NSR Pisces Initial Drilling
RCT0205 720.2 735.8 14.4 4.7 Pisces Initial Drilling
RCT0208 NSR Pisces Initial Drilling
RCT0209 598.9 606.6 7.6 7.4 Pisces Initial Drilling
Notes:
• I ntervals are core length, not true width.
• “Initial Drilling” intercept is associated with early-stage exploration drilling. NSR = No Significant Result.
• All data, apart from DDH0596, DDH0598 and DDH0622A represent historical drilling conducted by Romarco Minerals prior to
OceanaGold’s ownership of Haile.
• “^” represents OceanaGold drilled holes.
• “*” represents drill hole results reported by Romarco Minerals in its press release dated April11, 2012.
• “ **” represents drill hole results reported by Romarco Minerals in its press release dated January 20, 2012.
All historical drill data collected by Romarco Minerals are considered historical in nature and based on prior data and reports
prepared by Romarco Minerals. A qualified person from the Company has not undertaken independent investigation of the
sampling nor has it independently analyzed the results of the historical drilling to verify the results. OceanaGold is not treating
the historical data as current. There can be no assurance that any of the historical drill data is representative.
For further information relating to drill hole data please refer to the Company's website
at https://investors.oceanagold.com/additional-drillhole-data.
For further information please contact:
Investor Relations:
Rebecca Henare, Vice President, Investor Relations
Tel: +1 (604) 678 4095
Media Relations:
Louise Burgess, Director, Communications
Tel: +1 (604) 403-2019
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly
maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our
shareholders. We have 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.
Qualified Person Statement
The scientific and technical information contained in this press release, other than historic drill data, has
been reviewed and approved by Craig Feebrey, a Member of the Australasian Institute of Mining and
Metallurgy and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators ("NI 43- 101"). Mr. Feebrey is the Executive Vice
President and Chief Exploration Officer of OceanaGold.
QA/QC at Haile Gold Mine
From July 2017 to 2024 almost all Haile exploration core samples have been prepared at the ALS lab in
Tucson, Arizona, and analy zed at the ALS lab in Reno, Nevada, each of which is independent from
OceanaGold. Select resource conversion core samples were also prepared and analyzed at the SGS lab
in Kershaw, South Carolina in 2023 which is also independent from OceanaGold, with confirmation pulp
duplicates sent to the ALS lab in Reno, Nevada. Samples are pulverized from a 250g (ALS) or 450g (SGS)
sample to 85% passing 75 mesh. Approximately 225g of pulp sample is used for fire assay. Assays are
based on a 30g fire assay aliquot for gold with Atomic Absorption finish. If the gold value from Atomic
Absorption is >10g/t, an additional 30g of pulp sample is fire assayed for gold using a gravimetric finish.
Some holes are composited and analy zed for carbon, sulphur and multi- elements using LECO and ICP-
OES methods. Both ALS and SGS labs used for OceanaGold samples are ISO 17025 certified.
Blanks and standards are each inserted every 20th sample. Precision and accuracy of certified reference
materials (“CRMs”) compared to expected values have been consistently with in 5% RSD and often within
3%. Barren marble and sand are inserted as blanks every 20th sample. CRMs from RockLabs are inserted
every 20th sample (5%). CRMs from RockLabs and OREAS are inserted every 20th sample (5%). All blanks
and CRMs are handled by the OceanaGold Geology Team and are stored in the locked OceanaGold office.
All drill hole samples are handled and transported from the drill rigs to the secured Haile Exploration
warehouse by OceanaGold personnel. Access to the property is controlled by locked doors and cameras
monitored by OceanaGold security. The main gate requires an electronic employee badge to enter.
Samples are packaged at the Haile Exploration warehouse by OceanaGold geologists and geotechnicians.
Samples are trucked in sealed plastic barrels by certified couriers with submittal forms that are verified
during sample pick -up and delivery to ALS. No sample shipments have been recorded as missing or
tampered with.
Technical Report
For further information, please refer to the following NI 43- 101 technical report available on the SEDAR+
website at www.sedarplus.com under the Company's profile or on our website at www.oceanagold.com:
"NI 43-101 Technical Report Haile Gold Mine Lancaster County, South Carolina" dated March 28, 2024
with an effective date of December 31, 2023, prepared by D. Carr, D, Londoño, J. Moore and B. Drury
(OceanaGold); L. Standridge and R. Cook (Call & Nicholas, Inc.); J.N. Janney -Moore and W.L. Kingston
(NewFields Mining & Technical Services LLC ); and M. Sullivan and B. Miller Clarkson (SRK Consulting
(U.S.), Inc.).