Oceanagold Reports High-Grade Intercepts at Haile
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MEDIA RELEASE
12 September 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 February 27, 2019 (“February
2019 update”) and results herein reflect activity completed after this date.
Selection of significant drill results:
• Red Hill: 45.8 m @ 2.42 g/t Au
• Red Hill: 39.5 m @ 2.78 g/t Au
• Red Hill: 45.3 m @ 4.32 g/t Au
• Ledbetter: 28.3 m @ 5.34 g/t Au
• Snakeshoe: 40.5 m @ 2.93 g/t Au
• Ledbetter: 26.2 m @ 5.75 g/t Au
• Haile: 85 m @ 11 g/t Au, including 2.5 m @ 286 g/t Au
• Ledbetter: 81 m @ 3.57 g/t Au
• Haile: 71 m @ 1.64 g/t Au
• Ledbetter: 46.5 m @ 4.99 g/t Au
Mick Wilkes, President and CEO of O ceanaGold said, “ We are encouraged by these latest drill resul ts at
Haile where exploration activities focused on both infill and extensional drilling. As we continue to mine the
ore body and continue our exploration program of drilling, mapping and core logging, we have identified
important structures that are feeding into our drilling strategy including target generation to stimulate further
organic growth in the Haile district.”
The Company has drilled 70 drill holes for 14,221 metres using four surface diamond drill rigs at Haile since
the February 2019 update. Infill and extensional drilling have targeted low-cost reserve growth areas in and
around the Ledbetter, Snake, Red Hill and Haile deposits (Figure 1). Infill and delineation drilling continue to
support block models and provide increased confidence for near term production forecasting (Figures 1 & 2).
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A total of 24-km of brownfields drilling is ongoing and planned to be completed in 2019. Drilling in the fourth
quarter will focus on Ledbetter infill holes to convert Inferred blocks to Measured & Indicated categories and
to expand reserves.
Figure 1: Selected Drill Holes and Significant Gold Intercepts (February-August 2019)
Figure 2: Ledbetter cross section A-A’ with new drill holes and intercepts
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Figure 3: Red Hill cross section B-B’ with new drill holes and intercepts
Table 1 – Significant Haile Drill Hole Intercepts from February to August 2019
Drill Hole
ID Project
East
NAD83
Z17N
North
NAD83
Z17N
Collar
RL m Az Dip From
(m) To (m) Width
(m)
Grade
(g/t Au)
DDH0854 Snake West 542909 3826481 141 132 -75 162.2 215.1 53.0 0.89
DDH0856 Snake West 542824 3826688 141 123 -79 371.2 416.9 45.7 1.18
DDH0857 Snake West 542774 3826511 140 143 -87 192.6 279.8 87.2 0.57
DDH0862 Snake West 542732 3826586 139 140 -72 203.1 254.2 51.1 0.52
DDH0864 Red Hill 542543 3826292 141 125 -66 70.6 93.1 22.5 3.83
DDH0866 Red Hill 542543 3826292 141 166 -60 54.6 90.2 35.6 2.35
DDH0868 Red Hill 542613 3826288 141 121 -72 36.6 57.33 20.7 2.07
DDH0870 Red Hill 542670 3826262 141 169 -68 45.7 50.5 4.9 10.62
DDH0874 Red Hill 542614 3826251 141 193 -52 20.1 46.0 25.9 2.52
DDH0877 Red Hill 542589 3826252 141 344 -84 26.5 72.3 45.8 2.42
DDH0879 Red Hill 542614 3826251 141 214 -82 23.4 56.2 32.8 2.41
DDH0880 Red Hill 542596 3826252 141 288 -50 15.9 33.7 17.9 2.80
DDH0880 Red Hill 542596 3826252 141 288 -50 47.0 77.1 30.1 3.02
DDH0883 Red Hill 542563 3826223 141 159 -76 12.0 30.2 18.2 1.95
DDH0884 Red Hill 542386 3826433 142 188 -61 56.6 96.1 39.5 2.78
DDH0885 Red Hill 542300 3826425 137 180 -45 40.4 58.7 18.3 1.44
DDH0887 Red Hill 542386 3826433 142 168 -71 53.8 99.1 45.3 4.32
DDH0890 Red Hill 542400 3826339 135 212 -78 3.7 38.7 35.1 0.97
DDH0891 Red Hill 542323 3826413 140 190 -48 28.6 46.4 17.8 3.97
DDH0895 Red Hill 542415 3826370 136 150 -52 28.4 60.9 32.5 0.97
DDH0897 Red Hill 542397 3826355 136 77 -69 18.5 80.7 62.2 1.23
DDH0898 Ledbetter 542736 3826868 136 120 -67 207.9 236.2 28.3 5.34
DDH0899 Ledbetter 542668 3826923 151 147 -67 226.5 264.9 38.4 1.83
DDH0900 Snakeshoe 543414 3826587 156 332 -48 333.5 374.0 40.5 2.93
DDH0901 Ledbetter 542736 3826865 136 128 -54 221.2 231.1 9.9 3.06
DDH0902 Ledbetter 542668 3826923 151 180 -53 231.9 258.1 26.2 5.75
DDH0903 Haile 542123 3826298 137 263 -50 16.3 73.5 57.2 2.84
DDH0903 Haile 542123 3826298 137 263 -50 73.5 76.0 2.5 286.08
DDH0903 Haile 542123 3826298 137 263 -50 76.0 101.3 25.2 2.30
DDH0905 Ledbetter 542668 3826923 151 206 -62 185.1 266.2 81.1 3.57
DDH0906 Ledbetter 542736 3826865 136 147 -72 206.2 223.2 17.1 1.73
DDH0907 Haile 542129 3826297 137 247 -46 23.7 94.6 71.0 1.64
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DDH0908 Haile 542063 3826325 133 238 -64 34.8 109.6 74.8 1.14
DDH0909 Ledbetter 542668 3826923 151 217 -57 211.6 258.1 46.5 4.99
DDH0910 Haile 542129 3826297 137 239 -37 21.4 55.7 34.3 1.72
DDH0910 Haile 542129 3826297 137 239 -37 65.4 90.8 25.4 1.27
DDH0912 Haile 542063 3826325 132 236 -50 48.9 98.2 49.3 1.37
DDH0913 Haile 542159 3826244 137 256 -30 132.3 138.4 6.1 4.64
DDH0915 Haile 542063 3826325 132 239 -41 56.4 110.4 54.1 0.97
DDH0917 Haile 541920 3826114 133 314 -30 59.5 122.2 62.7 1.63
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 -
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 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 Caroli na. 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 a nd social engagement. The Company has a strong social license to operate and works
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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 accordanc e 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
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 under
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 statements and information relate to future performance and
reflect the Company’s e xpectations 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 historica l 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 informat ion. 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 c urrent information available to management as
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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 plac e 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, exc ept as
required by applicable securities laws. The information contained in this release is not investment or financial
product advice.
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