Oceanagold Reports Additional High-Grade Drill Results at Waihi IN New Zealand
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MEDIA RELEASE
30 October 2018
OCEANAGOLD REPORTS ADDITIONAL HIGH-GRADE DRILL RESULTS AT WAIHI
IN NEW ZEALAND
(MELBOURNE) OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the “Company”) is pleased to announce
updated exploration results highlighting continued high-grade gold intersections from the Martha Project (the
“Project”) at the Company’s Waihi Gold Mine (“Waihi”) located in New Zealand.
Selection of Significant Drill Results (true width)
• 10.7 m @ 36.01 g/t Au Empire vein
• 13.6m @ 5.98 g/t Au Martha vein
• 3.4 m @ 22.71 g/t Au Martha F/W vein
• 2.7 m @ 28.43 g/t Au Rex vein
• 10.2 m @ 7.22 g/t Au Martha vein
• 4.2 m @ 15.99 g/t Au Empire vein
• 6.4 m @ 10.49 g/t Au Dreadnought vein
• 4.1 m @ 13.45 g/t Au Empire F/W vein
• 6.4 m @ 7.77 g/t Au Empire vein
• 4.4 m @ 10.59 g/t Au Martha H/W vein
• 4.8 m @ 8.16 g/t Au Dreadnought vein
Mick Wilkes, President and CEO of OceanaGold said, “ These latest drilling results from the Martha
Underground continue to increase our confidence in the potential resource at Waihi, and further continues to
identify areas of high-grade mineralisation that sit deeper and laterally to our exploration targets.”
He added, “These recent drill results will be included into the Martha Underground resource model scheduled
as part of the annual Resource and Reserve update . In August, we increased the Indicated and Inferred
Resource significantly and with further exploration drilling, we are confident of defining a sizeable resource
that will further support the extension of the mine life at Waihi.”
“The Waihi operation has delivered significant value to shareholders for a number of years. It has also
contributed significant socio -economic benefits to the to wn of Waihi and to New Zealand. OceanaGold is
very proud of its track record for operating to the highest of environmental and social standards with a long,
successful and rich history of sustainable development in New Zealand and in other jurisdictions around the
world.”
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Following the significant increase in Mineral Resources reported in August 2018 for the Martha Project at
Waihi, underground drilling has continued at multiple drill points along the two underground drill drives. Since
August 2018, approximately 10,000 metres have been drilled at Waihi with a focus on identifying and defining
mineralisation along sections of the Martha, Royal, Empire, Dreadnought and Rex veins.
In total, these veins along with the Edward vein have a combined strike length of approximately 3.2 kilometres
with a maximum dip extent of approximately 500 metres (Figure 1 and 2) . Recent drilling has intersected
significant gold mineralisation both deeper in the central Martha area and eastward towards the current
mining fronts approximately 200 metres away on the Empire Vein.
Drilling from surface and underground is in progress on the Rex Vein where a significant intersection of 2.7
metres (true width) at 28.4 g/t gold supports earlier intersections on the Rex Vein of up to 2.9 metres (true
width) at 32.3 g/t gold.
In addition, the drill drives which support the underground drill program are advancing well with the 920 -drill
drive now complete, while the 800-drill drive is advancing ahead of schedule being over 60% complete with
a targeted completion at the end of the first quarter of 2019.
The continuing intersection of high -grade mineralisation supports the outlined exploration target reported in
August with a potential volume of between 5 million and 8 million tonnes at a grade of between 4.0 g/t and
6.0 g/t gold . This exploration target is based on the assessment of surface and underground drilling data
collected by the Company in addition to the significant amount of historical and archived geological and
mining data from over a century of mining activity a t Waihi. Exploration targets are conceptual in nature;
there has been insufficient exploration to define a mineral resource of the potential volume and grade stated
and that it is uncertain if further exploration will result in the target being delineated as a mineral resource of
this size and grade.
Figure 1 – Long Sectional Oblique View showing Martha Open Pit, Martha Underground, Main Target Areas
(pink), Current Martha Underground Resource Areas (yellow) and the new Dreadnought vein (purple).
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Figure 2 – Plan View showing drill holes (to April 2018 pale blue, to Q3 2018 end dark blue) within the Martha
vein system and the dominant targeted veins (Martha, Empire, Royal, Edward) as well as the new Dreadnought
vein (purple). Pink = Main Target Areas, Yellow = Current Martha Underground Resource Areas Green = Recent
and Current Mining Areas.
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Table 1 – Significant Intersections from the Waihi Martha UG Resource Drilling
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
800SP1MN1203 395966.9 643096.96 778.67 276.32 -29.10 282.70 300.50 13.60 5.98 14.00 Martha
800SP1MN1203 395966.9 643096.96 778.67 276.32 -29.10 345.00 349.20 2.70 6.20 9.10 Loop No.1
800SP1MN1208 395967.5 643097.78 778.84 300.02 -27.50 180.40 185.30 4.80 8.16 11.50 Dreadnought
800SP1MN1208 395967.5 643097.78 778.84 300.02 -27.50 194.10 197.10 2.60 9.49 17.50 Martha
800SP1MN1211 395967.1 643097.28 778.93 284.36 -25.00 266.30 285.60 10.20 7.22 12.70 Martha
800SP1MN1211 395967.1 643097.28 778.93 284.36 -25.00 183.45 187.15 2.70 7.26 10.90 Dreadnought South
800SP3MN1209 395991.7 643115.16 779.41 15.62 -23.50 235.60 240.50 4.10 13.45 15.00 Empire FW
920DDCRN1207 395885.2 642962.62 921.64 188.12 22.00 3.60 6.10 1.50 13.14 1180.90 Unknown
920SP3MR1206 396038 643057.85 921.53 328.72 -8.40 350.20 353.35 3.00 5.61 17.80 Martha HW
920SP3MR1206 396038 643057.85 921.53 328.72 -8.40 377.50 379.60 2.00 6.43 9.70 Mary
800SP1MR1214 395967.2 643097.53 778.74 290.72 -33.60 180.70 191.40 6.90 5.05 6.50 Dreadnought
800SP1MR1214 395967.2 643097.53 778.74 290.72 -33.60 234.80 239.90 4.40 10.59 73.10 Martha HW
800SP1MR1219 395967.2 643097.44 779.42 289.12 -8.10 177.80 179.30 1.00 17.91 15.10 Empire
800SP1MR1219 395967.2 643097.44 779.42 289.12 -8.10 215.00 221.20 3.60 6.22 19.90 Harry
800SP1MR1224 395967.2 643097.51 779.72 290.62 1.20 123.70 132.80 6.40 10.49 13.80 Dreadnought
800SP1MR1224 395967.2 643097.51 779.72 290.62 1.20 159.40 163.75 4.20 15.99 37.70 Empire
800SP1MR1224 395967.2 643097.51 779.72 290.62 1.20 206.10 218.50 10.70 36.01 221.80 Empire
800SP1MR1224 395967.2 643097.51 779.72 290.62 1.20 268.90 273.90 4.70 6.32 49.30 Martha
800SP3MN1218 395989.8 643115.27 779.39 341.12 -18.00 150.90 153.40 2.00 8.07 13.90 Empire
800SP3MR1227 395990.8 643115.32 779.71 6.22 -8.10 183.00 187.65 3.70 6.95 11.50 Empire
800SP3MR1227 395990.8 643115.32 779.71 6.22 -8.10 196.00 197.10 0.90 28.90 33.30 Empire
920SP3MR1210 396038.2 643057.95 921.36 333.72 -15.50 293.20 296.50 3.20 5.71 145.30 Martha FW
920SP5MN1205 395810.5 642983.28 919.46 333.52 -0.60 292.10 296.50 3.40 22.71 32.90 Martha FW
920SP5MN1205 395810.5 642983.28 919.46 333.52 -0.60 298.30 303.10 3.40 9.34 9.70 Martha FW
920SP8GT1238 395480.7 642862.49 925.78 341.72 4.80 127.10 135.10 6.40 7.77 61.20 Empire
UW671 395749.8 642846.81 1117.02 167.22 -36.90 203.70 205.00 0.80 24.90 158.00 Rex HW
UW671 395749.8 642846.81 1117.02 167.22 -36.90 214.90 217.70 2.70 28.43 79.00 Rex
All drill data in relation to the Waihi Project 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 Waihi 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 -
For further information please contact:
Investor Relations Media Relations
Sam Pazuki
Tel: +1 416 915 3123
Melissa Bowerman
Tel: +61 459 900 099
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Jeffrey Sansom
Tel: +61 3 9656 5300
[email protected] [email protected]
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 Philippines. 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 open 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 works
collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build
capacity and not dependency.
The Company has recently increased its 2018 gold production guidance for a second time this year and now
expects to produce 515,000 to 545,000 ounces of gold and 15,000 to 16,000 tonnes of copper with All -In
Sustaining Costs that range from $725 to $775 per ounce sold.
Competent/Qualified Person’s Statement
The exploration results were prepared in accordance with the standards set out in the 2012 Edition of the
‘Australasian Code for Reporting of Exploration Results, Min eral 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 Lorrance Torckler, a
Fellow of the Australian 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
a Qualified Person 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.
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION
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