Oceanagold Reports High-Grade Intercepts at Haile
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MEDIA RELEASE
27 February 2019
OCEANAGOLD REPORTS HIGH-GRADE INTERCEPTS AT HAILE
(MELBOURNE) OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the “Company”) is pleased to announce
an update on exploration activit ies at the Company’s Haile Gold Mine (“Haile”) in South Carolina, U nited
States. This exploration update follows the update provided to the market on August 16, 2018 (“August 2018
update”) and results herein reflect activity completed after this date.
Selection of significant drill results:
• 68.3 metres @ 3.57 g/t Au at Snake expansion
• 24.4 metres @ 8.19 g/t Au at Snake
• 33.4 metres @ 4.33 g/t Au at Ledbetter
• 15.1 metres @ 9.26 g/t Au at Ledbetter
• 24.5 metres @ 3.21 g/t Au at Ledbetter
• 20.1 metres @ 7.23 g/t Au at Red Hill
Mick Wilkes, President and CEO of OceanaGold said, “The Haile exploration program has focused on drilling
in and around the footprint of the existing deposits. Drilling continues to demonstrate the opportunity to add
further resources in these areas and replenish reserves.”
“With the permitting process of the larger open pits and the Horseshoe Underground advancing well , we
expect to commence construction upon receipt of these permits. After the Horseshoe Underground has been
developed, we also expect to resume drilling deeper targets from underground using a similar approach to
that taken at Waihi, particularly the mineralised corridor between Horseshoe and Palomino.”
Since the August 2018 update, the Company has drilled 67 drill holes for a combined 12,772 metres using
four surface diamond drill rigs. This includes 55 brownfield holes at Haile and 12 holes at the nearby Locust
greenfields target. Resource infill and extensional drilling has targeted low-cost reserve growth areas in and
around the Ledbetter, Snake, Red Hill, and Haile deposits (Figure 1).
Favourable extensional drill results are expected to add ore-grade mineralisation between pit designs at low
strip ratios (Table 1). Infill and delineation drilling continue to support our models including the Ledbetter area
(Figures 1 & 2). An 18 -hole diamond drill program was completed outside the $1, 300/oz reserve pit design
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and within the resource shell at the Snake West extension and returned positive results . Phase two drilling
of 11 holes has recently been completed (Figures 1 & 2) with assay results pending.
Resource drilling is planned in 2019 at Ledbetter, Snake, Red Hill, and Haile in addition to testing other
priority targets.
Figure 1 – Selected Drill Holes and Significant Gold Intercepts (August 2018-February 2019)
Figure 2 – Cross Section A-A’ With Drill Hole and Assay Results
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Table 1 – Significant Drill Hole Intercepts from August 2018 to February 2019
Drill Hole
ID Project
East
NAD83
Z17N
North
NAD83
Z17N
Collar
RL
(metres)
Az Dip From
(metres)
To
(metres)
Width
(metres)
Grade
(g/t Au)
DDH0779 Ledbetter 542676 3826926 152 309 -88 197.5 287.5 90.0 1.74
DDH0782 Ledbetter 542822 3826854 138 165 -67 191.6 204.9 13.3 2.94
DDH0784 Ledbetter 542234 3826529 136 63 -76 113.0 128.1 15.1 9.26
DDH0789 Ledbetter 542217 3826541 137 143 -72 122.7 147.8 25.1 1.12
DDH0791 Ledbetter 542822 3826854 138 131 -58 212.1 245.5 33.4 4.33
DDH0793 Ledbetter 542638 3827052 155 156 -72 264.1 320.7 56.7 1.07
DDH0793 Ledbetter 542638 3827052 155 156 -72 196.8 206.1 9.3 2.97
DDH0796 Haile 542053 3826329 131 349 -70 73.9 84.1 10.2 3.12
DDH0797 Snake 542822 3826854 138 147 -50 411.6 436.1 24.5 1.28
DDH0797 Snake 542822 3826854 138 147 -50 224.4 230.5 6.1 4.40
DDH0799 Ledbetter 542122 3826524 134 133 -56 143.2 201.6 58.4 0.65
DDH0802 Haile 542063 3826325 132 243 -61 34.1 110.3 76.2 1.57
DDH0804 Ledbetter 542905 3826825 -80 109 -68 218.6 243.1 24.5 3.21
DDH0812 Red Hill 542586 3826217 147 0 -90 10.1 25.1 15.0 1.62
DDH0813 Red Hill 542547 3826219 147 0 -90 26.2 41.8 15.6 2.40
DDH0815 Red Hill 542486 3826391 143 208 -42 50.0 70.1 20.1 7.23
DDH0816 Haile 542063 3826325 132 218 -79 31.0 101.1 70.1 1.34
DDH0817 Snake 542822 3826854 138 119 -50 197.1 265.4 68.3 3.57
DDH0819 Haile 542063 3826325 132 107 -80 37.2 88.3 51.1 1.64
DDH0820 Snake 542973 3826589 110 127 -73 131.1 154.1 23.0 1.76
DDH0820 Snake 542973 3826589 110 127 -73 77.6 80.7 3.1 7.23
DDH0828 Ledbetter 542487 3826625 142 288 -53 193.0 218.4 25.4 0.83
DDH0832 East Mill 542092 3826512 133 243 -75 109.0 121.2 12.2 1.59
DDH0837 Snake 543223 3826720 103 165 -42 27.4 40.7 13.3 3.26
DDH0837 Snake 543223 3826720 103 165 -42 56.1 67.5 11.4 3.41
DDH0844 Snake West 542708 3826577 137 125 -63 226.5 270.2 43.7 0.59
DDH0847 Haile 542063 3826325 132 253 -57 49.0 94.4 45.4 1.03
DDH0850 Snake West 542708 3826577 137 96 -53 217.6 338.5 120.9 0.63
DDH0851 Snake West 542947 3826479 141 117 -73 119.6 164.6 45.0 1.16
DDH0851 Snake West 542947 3826479 141 117 -73 180.0 197.9 18.0 1.24
DDH0851 Snake West 542947 3826479 141 117 -73 244.5 250.6 6.1 3.00
DDH0851 Snake West 542947 3826479 141 117 -73 260.0 271.9 12.0 1.44
DDH0852 Snake 543130 3826777 90 141 -56 95.1 119.5 24.4 8.19
DDH0852 Snake 543130 3826777 90 141 -56 140.8 148.1 7.3 4.50
All drill data in relation to the Haile exploration results 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 Haile 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: +1 416 915 3123
Melissa Bowerman
Tel: +61 459 900 099
[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 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 500,000 to 550,000 ounces of gold and 14,000 to 15,000
tonnes of copper at All-In Sustaining Costs ranging between $850 and $900 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 Re porting 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
7 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 Haile exploration results in this document has been verified by, is based on and fairly
represents information compiled by or prepared under the supervision of John Jory, a Certified Professional
Geologist and Member of the American Institute of Professional Geologists and an employee of OceanaGold.
Mr Jory has sufficient experience that is relevant to the style of mineralisation and type of deposit und er
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consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC
Code and is Qualified Persons for the purposes of the NI 43 101. Mr Jory 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 s tatements 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
future events or performance (often, but not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that
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 information. Such forward -looking
statements and information are only predictions based on current information availa ble 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 Company, 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 forwa rd-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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