Oceanagold Intersects Additional Significant High-Grade GOLD and Silver Mineralisation at Wkp IN New Zealand
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MEDIA RELEASE
7 November 2019
OCEANAGOLD INTERSECTS ADDITIONAL SIGNIFICANT HIGH-GRADE GOLD
AND SILVER MINERALISATION AT WKP IN NEW ZEALAND
(MELBOURNE) OceanaGold Corporation (TSX: OGC / ASX: OGC) (the “Company”) is pleased to announce
the intersection of additional high-grade gold and silver mineralisation during its extensive resource definition
drilling along the East Graben vein at the Company’s WKP prospect in New Zealand. These drill results
support and extend the high-grade results and resources reported in February 2019.
Significant Intercepts (true widths)
• 25.4m @ 38.7 g/t gold, 64.5 g/t silver East Graben vein zone
• 13.6m @ 9.8 g/t gold, 14.2 g/t silver East Graben main vein
• 4.5m @ 21.8 g/t gold, 41.3 g/t silver East Graben footwall vein
• 3.4m @ 21.4 g/t gold, 25.2 g/t silver East Graben hangingwall vein
• 1.0m @ 150.4 g/t gold, 918.9g/t silver East Graben main vein
• 1.5m @ 136.9 g/t gold, 63.2 g/t silver East Graben footwall vein
Mick Wilkes, President & CEO of OceanaGold said, “ WKP is a game -changing discovery that continues to
yield significant high-grade results. Drilling on the East Graben vein, one of several structures at WKP , has
intersected significant widths and grades in nearly every hole to date which further increases our confidence
in continuing to advance this prospect . Based on the initial high-grade resource announced earlier this year
and the continued success of our exploration program, WKP is demonstrating the significant potential still to
be fully realised in the Waihi district.”
“We are currently working on an all-encompassing preliminary economic study which we expect to complete
in the first half of 2020. We are not only excited about the prospects at Waihi for our shareholders but also
for our proud Kiwi workforce and the local, rural communities. Discoveries such WKP have the potential to
further create employment opportunities while delivering significant socio-economic benefits.”
Since the February 2019 exploration update, 8,788 metres have been drilled at WKP focussing on resource
definition drilling of the E ast Graben Vein; one of three major low sulphidation epithermal gold -silver veins
identified to date within the WKP prospect area (Figure s 1 & 3 ). In addition to these known veins, the
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Company has intercepted several high-grade veins in the hangingwall and footwall of the East Graben vein
(Table 1).
The Company commenced exploration of the WKP prospect in August 2017 and to date has drilled 24,535
metres in 54 holes. In February 2019 , the Company reported an initial Indicated Resource of 0.41 million
tonnes grading 18.0 g/t gold and 22.7 g/t silver for 234,000 ounces of gold and 296,000 ounces of silver on
the East Graben vein. Additionally, an Inferred Resource of 1.1 million tonnes at a grade of 11.9 g/t gold and
16.8 g/t silver for 401,000 ounces of gold and 568,000 ounces of silver was reported that is comprised of
mineralisation from several veins along the East Graben vein trend with the East Graben main vein
contributing approximately 45% of the Inferred metal. The footwall veins to the East Graben main vein
contributes a further 36% of the contained Inferred metal totalling 145,000 ounces of gold. The remainder of
the gold mineralisation is made up of other veins including the T Stream and East Graben Hanging wall veins.
Although significant intercepts have been drilled on the Western Vein, further drilling is required to access
the potential for additional resources.
Drilling during 2019 has focussed on growing the Inferred Resources on the East Graben vein and associated
high-grade hanging and footwall veins with approximately 11,000 metres of extensional drilling. This work
has continued to successfully intersect high -grade mineralisation of significant width , increasing the
confidence in continuity and extension of mineralisation within the East Graben vein and associated hanging
and footwall veins. This high-grade gold mineralisation remains open along strike in both directions and both
up- and down-dip of mineralisation defined to date (Figure 2).
Additional drill sites are being considered to enable more extensive step-out drilling along strike to the north
and south and extensional drilling of the high-grade intersections, in particular, up-dip to the south where drill
platforms to date were not optimal for testing potential high-grade extensions to holes WKP81, WKP63, and
WKP54. The Company also plans to further drill the T -Stream and Western veins this year with a goal of
testing the potential size of these veins as historic drilling has confirmed the significant width and grade
mineralisation similar to the East Graben vein.
The Company is currently working on an all-encompassing study for the Waihi district. The Company expects
to complete this study in the first half of 2020 incorporating development of the Martha and WKP deposits
over the longer-term highlighting production rates, high-level costs and production schedules.
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Figure 1: Plan View of geology, drill traces and distribution of 3 main veins at WKP
Figure 2: Long Section on the East Graben Vein Showing Geology and Gram x Metre Drill Intercepts
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Figure 3: Schematic E-W Cross Section of WKP Showing Significant Intersections on the 3 Main
Veins
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Table 1: Recent Significant Diamond Drill Intersections
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
WKP70 2759651 6430237 235.8 134.1 -26.8 387.3 388.1 0.8 46.00 71.0 T Stream HW
WKP71B 2760155 6429850 181.8 142.4 -24.6 371.9 374.1 1.3 14.40 37.0 East Graben HW
WKP71B 2760155 6429850 181.8 142.4 -24.6 394.9 416.1 13.6 9.75 14.2 East Graben
WKP71B 2760155 6429850 181.8 142.4 -24.6 433.9 438.7 4.5 21.79 41.3 East Graben FW
WKP71B 2760155 6429850 181.8 142.4 -24.6 464.8 466.9 1.9 22.92 32.1 East Graben FW
WKP72 2760429 6429895 225.9 160.8 -51.7 167.7 170.0 1.8 14.88 26.5 East Graben HW
WKP72 2760429 6429895 225.9 160.8 -51.7 179.0 180.0 1.0* 32.20 21.0 East Graben HW
WKP72 2760429 6429895 225.9 160.8 -51.7 221.4 222.8 0.9 28.51 118.9 East Graben
WKP73 2760432 6429893 226.0 161.6 -65.8 281.3 284.2 1.9 11.52 21.8 East Graben
WKP74 2760154 6429852 181.9 123.2 -36.7 210.0 216.0 3.4 21.43 25.2 East Graben HW
WKP75 2760434 6429894 225.8 117.2 -50.9 191.9 193.4 1.0 150.40 918.9 East Graben
WKP75 2760434 6429894 225.8 117.2 -50.9 239.1 252.4 13.3* 13.01 35.9 East Graben FW
WKP76 2760432 6429892 226.0 169.8 -42.6 375.3 376.8 1.1 20.60 54.0 East Graben FW
WKP76 2760432 6429892 226.0 169.8 -42.6 433.2 437.7 4.5* 11.17 75.3 East Graben FW
WKP77 2760155 6429851 181.9 126.6 -26.3 324.1 324.6 0.5* 43.90 49.0 East Graben HW
WKP77 2760155 6429851 181.9 126.6 -26.3 341.2 347.3 5.7 5.43 8.8 East Graben HW
WKP77 2760155 6429851 181.9 126.6 -26.3 361.1 366.1 4.7 4.52 7.4 East Graben
WKP77 2760155 6429851 181.9 126.6 -26.3 431.0 431.8 0.4 30.10 16.0 East Graben FW
WKP77 2760155 6429851 181.9 126.6 -26.3 459.8 462.1 2.0 20.93 60.7 East Graben FW
WKP77 2760155 6429851 181.9 126.6 -26.3 475.0 477.7 2.3 12.75 22.2 East Graben FW
WKP79 2760154 6429850 181.7 140.9 -32.3 163.7 164.8 0.8 18.00 89.0 East Graben HW
WKP79 2760154 6429850 181.7 140.9 -32.3 242.4 243.2 0.7 71.00 182.0 East Graben HW
WKP79 2760154 6429850 181.7 140.9 -32.3 387.3 389.0 1.2 16.48 41.3 East Graben HW
WKP80 2760434 6429896 225.8 64.4 -54.5 242.1 244.3 1.6 12.58 54.3 East Graben
WKP81 2760155 6429849 181.7 149.9 -22.7 152.8 154.0 0.8 18.60 91.0 East Graben HW
WKP81 2760155 6429849 181.7 149.9 -22.7 420.0 421.8 1.4 14.47 23.3 East Graben HW
WKP81 2760155 6429849 181.7 149.9 -22.7 433.7 466.9 25.4 38.66 64.5 East Graben Zone
including 2760155 6429849 181.7 149.9 -22.7 433.7 440.6 5.3 39.00 67.5 East Graben
and 2760155 6429849 181.7 149.9 -22.7 445.5 460.5 11.5 64.40 104.8 East Graben FW
and 2760155 6429849 181.7 149.9 -22.7 464.7 466.9 1.6 14.99 26.5 East Graben FW
WKP82 2760433 6429892 225.9 142.3 -46.7 250.0 252.6 1.5 136.85 63.2 East Graben FW
* Downhole length as true width not able to be determined
All drill data in relation to WKP can be found on the Company’s website at
http://www.oceanagold.com/investor-centre/filings/. In line with ASX listing requirements, OceanaGold has
appended the information required by JORC Table 1 for WKP exploration results to its ASX announcement.
JORC Table 1 is not required under National Instrument 43-101. Readers are referred to the ASX website at
www.asx.com.au or the OceanaGold website at www.oceanagold.com to view JORC Table 1.
- ENDS -
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For further information please contact:
Investor Relations Media Relations
Sam Pazuki
Tel: +1 720 602 4880
Melissa Bowerman
Tel: +61 459 900 099
www.oceanagold.com | Twitter: @OceanaGold
About OceanaGold
OceanaGold Corporation is a mid -tier, high-margin, multinational gold producer with assets located in the
Philippines, New Zealand and the United States. The Company’s assets encompass the Didipio Gold-Copper
Mine located on the island of Luzon in the Phil ippines. On the North Island of New Zealand, the Company
operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates
the largest gold mine in the country at the Macraes Goldfield which is made up of a series of op en pit mines
and the Frasers underground mine. In the United States, the Company operates the Haile Gold Mine, a top-
tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of
organic growth and exploration opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably since 1990 with a proven track-record for environmental management
and community and social engagement. The Company has a strong social license to operate and work s
collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build
capacity and not dependency.
In 2019, the Company expects to produce between 460,000 to 480,000 ounces of gold and 10,000 to 11,000
tonnes of copper at All-In Sustaining Costs ranging between $1,040 and $1,090 per ounce sold.
Competent/Qualified Person’s Statement
The resources and exploration results were prepared in accordance with the standards set out in the 2012
Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’
(“JORC Code”) and in accordance with National Instrument 43 -101 – Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators (“NI 43-101”). The JORC Code is the accepted reporting
standard for the Australian Stock Exchange Limited (“ASX”).
Information relating to Waihi exploration results in this document has been verified by, is based on and fairly
represents information compiled by or prepa red under the supervision of Lorrance Torckler, a Fellow of the
Australasian Institute of Mining and Metallurgy and an employee of OceanaGold. Mr Torckler has sufficient
experience that is relevant to the style of mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as defined in the JORC Code and is Qualified
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Persons for the purposes of the NI 43 101. Mr Torckler consents to the inclusion in this public report of the
matters based on their information in the form and context in which it appears.
Cautionary Statement for Public Release
Certain information contained in this public release may be deemed “forward -looking” within the meaning of
applicable securities laws. Forward -looking statements and information relate to future performance and
reflect the Company’s expectations regarding the generation of free cash flow, execution of business
strategy, future growth, future production, estimated costs, results of operations, business prospects and
opportunities of OceanaGold Corporation and its related subsidiaries. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or
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certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are
not statements of historical fact and may be forward -looking statements. Forward -looking statements are
subject to a variety of risks and uncertainties which could cause actual events or results to differ materially
from those expressed in the forward -looking statements and information. They include, among others, the
accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and
those risk factors identified in the Company’s most recent Annual Information Form prepared and filed with
securities regulators which is available on SEDAR at www.sedar.com under the Company’s name. There are
no assurances the Company can fulfil forward -looking statements and informa tion. Such forward -looking
statements and information are only predictions based on current information available to management as
of the date that such predictions are made; actual events or results may differ materially as a result of risks
facing the Co mpany, some of which are beyond the Company's control. Although the Company believes
that any forward-looking statements and information contained in this press release is based on reasonable
assumptions, readers cannot be assured that actual outcomes or results will be consistent with such
statements. Accordingly, readers should not place undue reliance on forward -looking statements and
information. The Company expressly disclaims any intention or obligation to update or revise any forward-
looking statements and information, whether as a result of new information, events or otherwise, except as
required by applicable securities laws. The information contained in this release is not investment or financial
product advice.
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