Oceanagold Announces Significant Drill Intercepts Across Its Operational Footprint
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MEDIA RELEASE
8 November 2017
OCEANAGOLD ANNOUNCES SIGNIFICANT DRILL INTERCEPTS ACROSS ITS
OPERATIONAL FOOTPRINT
(MELBOURNE) OceanaGold Corporation (TSX/ASX: OGC) (the “Company”) is pleased to provide an update
on its global exploration program across its assets in the Unites States, New Zealand and the Philippines.
This exploration update follows the update provided to the market on 26 June 201 7 (“June update”) and
results herein reflect activity completed after this date.
Significant Drill Results
LOCATION WIDTH
(metres)
GRADE
Au (g/t) / Cu (%) TYPE
Waihi
Martha Project
18.5 7.9 g/t Extensional
11.1 8.1 g/t Extensional
6.1 7.4 g/t Extensional
3.3 20.9 g/t Extensional
5.1 10.6 g/t Extensional
9.9 5.3 g/t Extensional
Gladstone 33.8 2.3 g/t Extensional
39.9 2.1 g/t Extensional
Favona 26.8 6.2 g/t Extensional
34.9 3.9 g/t Extensional
Correnso Underground
4.3 33.4 g/t Extensional
2.7 17.3 g/t Extensional
4.8 5.1 g/t Extensional
1.3 67.0 g/t Extensional
7.6 9.0 g/t Extensional
3.7 25.2 g/t Extensional
5.7 7.0 g/t Extensional
WKP Target
East Graben Vein 7.0 10.8 g/t Step-out
Macraes
Coronation North
6.3 4.2 g/t Extensional
4.9 4.2 g/t Extensional
6.6 3.3 g/t Extensional
Golden Point
10.9 4.2 g/t Extensional
26.2 1.6 g/t Extensional
7.2 2.1 g/t Extensional
Haile
Palomino 13.1 15.6 g/t Extensional
8.6 7.9 g/t Extensional
Mustang 80.5 2.7 g/t Extensional
128.0 1.7 g/t Extensional
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Snake 5.3 3.3 g/t Extensional
15.2 2.1 g/t Extensional
Ledbetter
30.2 4.6 g/t Extensional
87.3 1.4 g/t Extensional
15.1 1.8 g/t Extensional
Red Hill 37.3 3.3 g/t Extensional
19.0 1.4 g/t Extensional
Haile Pit 43.0 2.3 g/t Extensional
Mill Zone
9.0 3.8 g/t Extensional
41.2 1.8 g/t Extensional
99.1 1.1 g/t Extensional
Horseshoe 26.2 6.4 g/t Metallurgical Hole
61.1 15.7 g/t Metallurgical Hole
Philippines
Didipio
65.0 8.2 g/t Au / 0.9% Cu Infill Drilling
73.0 5.0 g/t Au / 0.7% Cu Infill Drilling
66.0 5.0 g/t Au / 0.6% Cu Infill Drilling
Radio Prospect
8.0 2.4 g/t Trench
7.0 2.6 g/t Trench
8.0 1.6 g/t Trench
1. True width
2. Downhole length as not possible to determine true width
Mick Wilkes, President and CEO of OceanaGold said, “ The latest round of drill results further demonstrate
the significant potential that exists at each of our assets and in nearby greenfield areas. The investment in
exploration and drilling is creating value for investors and support s our organic growth initia tives. The early
drill results from the Martha Project demonstrate the exciting opportunity that may exist to materially increase
the Waihi mine life, which could unlock significant value for the business.”
He added, “Drilling at Haile indicates an opportunity to increase the in -pit resource plus good potential at
depth on several underground targets following our success at Horseshoe . Our focus in the short term will
remain on expanding the mineralisation within the optimised pit shell and establish the potential of other
underground targets. At Macraes, we continue to find extensions of Coronation North which has the potential
of further increasing the mine life of the operation while the strong results from drilling at Golden Point
supports the Round Hill project.”
New Zealand
Waihi
Year-to-date, the Company has drilled a total of 172 holes for 31,693 metres from three underground and
five surface drill rigs. Drilling continues to intersect encouraging widths and grades across multiple targets,
adding incremental resource ounces through vein extensions to those currently being mined at Empire and
Christina (Figure 3).
The Company continues to make good progress on the Martha Project exploration drill drives and has
commenced drilling from the first drill cuddy on the 800RL drill drive. A total of 2,506 metres have been drilled
from the 800RL drill drive since early August returning multiple significant intercepts (Tables 1 and 2). Favona
and Gladstone infill drilling also continue to return encouragi ng intercepts (Table 3). The results support the
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resource development of the Martha Project where the Company has a significant resource target. Drilling
from the 920RL drill drive is expected to commence before year end (Figure 3).
In July, the Company an nounced the commencement of drilling at the WKP target in the Hauraki region,
approximately 10 kilometres to the north of Waihi . To date, two holes have been completed for a total of
1,202 metres, targeting the East Graben (EG) vein where historic drilling intercepted 7.9 metres @ 5.1 g/t
Au (WKP35). The first hole of the current phase of drilling has returned 8.8 metres @ 10.84 g/t Au (Table 4)
with assays pending throughout most of the hole. The second drill hole (assays pending) stepped
approximately 100 metres down-dip from historic hole WKP35, while the third drill hole remains in progress
approximately 120 metres to the north of WKP40 (Figures 2 and 3).
Figure 1 – Oblique View to SW Across Waihi Mines and Targets
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Figure 2 – Plan View of WKP Target
Figure 3 – Cross Section on the East Graben (EG) vein at WKP
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Table 1 – Significant Intersections from Incremental Waihi Resource Drilling
Drill Hole ID East#
(m)
North#
(m)
Collar RL
(m) Az# Dip From
(m)
To
(m)
True
width
(m)
Gold
Grade
(g/t)
Silver
Grade
(g/t)
Vein
813ER1087 396419.7 643542.4 812.3 299.0 6 62.2 69.7 4.8 5.05 9.8 Empire
813ER1089 396419.8 643542.4 812.8 301.8 17.2 93.8 100.7 5.7 6.99 15.3 Grace
813ER1091 396419.4 643541.4 811.8 272.1 -7.3 36.0 40.5 4.3 33.41 29.8 Empire
830ER1069 396343.5 643168.5 833.5 289.0 -10 180.0 183.2 2.7 17.27 277.2 Empire
830ER1081 396344.3 643169.6 833.6 326.6 -3 143.3 144.7 1.3 67.04 40.7 Christina HW
912ER1061 396426.8 643297.6 913.6 329.0 -22 96.0 98.2 1.6 18.50 16.3 Empire
912ER1063 396427.1 643297.7 913.8 338.0 -19.4 161.4 161.7 0.3 44.10 54.9 Christina HW
912ER1066 396425.0 643296.6 913.8 289.1 -11.6 142.3 145.0 2.1 11.49 8.3 Christina HW
912ER1104 396426.2 643297.5 913.3 321.1 -29 94.7 103.1 7.6 8.95 7.8 Christina HW
912ER1105 396426.7 643297.6 913.9 355.4 -12 109.0 112.2 2.8 21.87 10.9 Christina
912ER1110 396426.6 643297.7 913.4 336.1 -29.8 86.7 91.0 3.7 25.17 22.5 Christina
# Old Mt Eden Coordinate system
Table 2 – Significant Intersections from Waihi Martha UG Resource Drilling
Drill Hole ID East#
(m)
North#
(m)
Collar
RL
(m)
Az# Dip From
(m)
To
(m)
True
width
(m)
Gold
Grade
(g/t)
Silver
Grade
(g/t)
Vein
800SP1MN1095 395967.4 643097.9 780.1 284.0 3 156.3 176.0 18.5 7.85 24.0 Empire HW
including 163.0 164.9 1.5 21.87 47.3 163.0
and 168.0 171.1 2.8 10.71 16.6 168.0
and 172.3 173.6 1.2 28.75 120.2 172.3
800SP1MN1095 395967.4 643097.9 780.1 306.1 5.9 253.1 266.0 9.9 5.26 31.9 Martha
including 255.2 256.6 1.1 33.81 100.0 Martha
800SP1MN1101 395967.4 643097.3 779.7 277.0 -5 120.5 130.0 6.1 7.35 5.2 Empire FW
including 120.5 124.9 2.8 14.13 9.4 Empire FW
800SP1MN1103 395967.4 643097.7 779.3 300.9 -14.9 204.4 217.7 10.5 8.60 17.6 Empire HW
including 210.9 214.6 2.5 15.41 22.6 Empire HW
800SP1MN1103 395967.4 643097.7 779.3 300.9 -14.9 226.1 232.6 6.5* 6.60 22.0 Martha
800SP2MN1097 395973.4 643107.7 780.1 292.0 -18 156.4 159.0 2.6 12.85 25.8 Empire
800SP2MN1097 395973.4 643107.7 780.1 292.0 -18 165.8 180.3 11.1 8.13 23.5 Empire HW
800SP2MN1097 395973.4 643107.7 780.1 292.0 -18 197.6 202.7 5.1 10.56 21.9 Martha
800SP2MN1099 395973.3 643107.8 779.9 310.5 -4.7 165.2 169.1 3.3 20.88 25.1 Empire HW
# Old Mt Eden Coordinate system
* Downhole length as not possible to determine true width
Table 3 – Significant Intersections from Waihi Gladstone and Favona Resource Drilling
Drill Hole ID East#
(m)
North#
(m)
Collar
RL
(m)
Az# Dip From
(m)
To
(m)
True
width
(m)
Gold
Grade
(g/t)
Silver
Grade
(g/t)
Vein
1120SP2GR1082 397046.9 642529.3 1079.6 134.4 -9.1 116.30 145.90 23.0 2.20 4.7 Gladstone
UW557 397059.4 642327.4 1134.3 332.5 -43 85.00 99.70 14.7* 3.76 13.0 Gladstone
UW561 397100.5 642484.9 1147 139.2 -43.1 71.80 88.80 13.0 3.69 12.4 Gladstone
UW563 397100.4 642485.4 1147 120.7 -43.2 172.10 211.10 33.8 2.34 5.0 Gladstone
UW568 397099.4 642486.8 1146.9 155 -49 109.70 149.60 39.9* 2.13 7.4 Gladstone
UW584 397356 643060.4 1117 110.1 -40 110.30 128.70 18.4* 6.03 14.8 Favona
UW592 397381.9 642870.5 1115.9 295.4 -49.2 93.20 120.00 26.8* 6.17 11.7 Favona
UW593 397374.2 642931.5 1119.5 104 -49 62.40 96.30 33.9* 2.99 6.5 Favona
UW594 397360.7 643032.3 1117.7 105 -45 98.10 121.40 23.3* 3.64 9.5 Favona
UW595 397366.2 642981 1118.2 119.8 -40.2 82.00 116.90 34.9* 3.94 7.1 Favona
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UW595 397366.2 642981 1118.2 119.8 -40.2 103.70 104.90 1.2* 57.50 98.6 Favona
UW596 397490.7 642881.2 1101.1 276.6 -57.2 85.00 99.55 14.5* 6.87 15.9 Favona
UW596 397490.7 642881.2 1101.1 276.6 -57.2 90.60 92.30 1.7* 40.28 66.1 Favona
UW600 397462 642901 1104 282 -43.2 62.50 66.60 4.1* 64.78 104.0 Favona
UW605 397366.5 642982 1118.2 105.9 -43.3 90.90 135.60 44.7* 1.70 3.7 Favona
# Old Mt Eden Coordinate system
* Downhole length as not possible to determine true width
Table 4 – Significant Intersections from Waihi - WKP Exploration Drilling
Drill Hole ID East#
(m)
North#
(m)
Collar RL
(m) Az# Dip From
(m)
To
(m)
True
width
(m)
Gold
Grade
(g/t)
Silver
Grade
(g/t)
Vein
WKP40 2760135 6429847 184 163 -35 492 500.8 7.0 10.84 12.3 East Graben
# NZMG Coordinate system
Macraes
Year-to-date, the Company has drilled 209 holes for a total of 24,228 metres, utili sing one underground drill
rig and two surface drill rigs. Since the June update, the Company has completed a total of 115 holes for a
total of 12,800 metres of which approximately 10,000 metres targeted mineralisation within optimised shells
at Frasers West, Coronation North and Innes Mills (Figure 4). Drill results are being incorporated into updated
resource models and will be reported in the annual Resource and Reserve update in March 2018.
Within the Golden Point and Coronation North deposits, drilling focused on extensions to known
mineralisation. At Golden Point, five holes intercepted significant mineralisation (Table 5, Figures 5 and 6)
with further drilling scheduled for the remainder of the year. At Coronation North six drill holes were completed
targeting the down-plunge extension to the resource. Assay results from the six holes are comparable with
those within the current optimised design (Table 5, Figure 7).
Table 5 – Significant Intersections from Golden Point and Coronation North
Drill Hole
ID Project East#
(m)
North#
(m)
Collar
RL
(m)
Az# Dip From
(m)
To
(m)
True
width
(m)
Gold
Grade
(g/t)
DDH6458 Golden Point 70492 15676 448 269 -67 248.0 274.2 26.2 1.63
DDH6473 Golden Point 70449 15729 447 265 -72 158.8 174.0 15.2 1.39
DDH6473 Golden Point 70449 15729 447 265 -72 240.1 251.0 10.9 4.21*
RCD6402 Coronation North 70177 20925 642 282 -82 182.3 185.6 3.3** 5.02
RCD6403 Coronation North 70225 20926 639 318 -83 178.3 196.6 18.3** 1.15
RCD6404 Coronation North 70252 20953 639 332 -81 201.9 206.8 4.9** 4.21
RCD6432 Coronation North 70126 20974 635 336 -81 182.0 188.3 6.3** 4.24
# Macraes Gold Project Grid
* Assays cut to 15g/t
** downhole length as not possible to determine true width
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Figure 4 – Location Macraes Drill Targets
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Figure 5 – Plan View of Golden Point Extensional Drilling
Figure 6 – Down Dip Extension Drilling to the East at Golden Point