OceanaGold Submits WNP Application for Fast-track Approval and Reports Additional High-Grade Mineralization at Wharekirauponga
March 4, 2025
News Release
OceanaGold Submits WNP Application for Fast-track Approval and
Reports Additional High-Grade Mineralization at Wharekirauponga
(VANCOUVER) OceanaGold Corporation (TSX : OGC ; OTCQX: OCANF ) (“OceanaGold” or the
“Company”) announces results from five drillholes from the ongoing exploration and resource conversion
program at Wharekirauponga, New Zealand.
The Company is also pleased to announce that on March 4, 2025, it lodged its application for the grant of
Fast-track approvals for the Waihi North Project (“WNP”), which includes Wharekirauponga Underground
(“WUG”), under New Zealand’s Fast-track Approvals Act 2024 (the “Act”). The Company expects WNP to
be fully permitted (subject to any appeals) under the Act by the end of 2025.
Highlight drill intercepts include (estimated true width):
• 6.3 m @ 8.7 g/t Au from 450.0 m, EG Vein (WKP135)
• 1.7 m @ 24.6 g/t Au from 373.3 m, EG HWS Vein (WKP135)
• 3.5 m @ 14.0 g/t Au from 457.0 m, EG Vein (WKP132A)
• 5.7 m @ 5.3 g/t Au from 516.6 m, EG Vein (WKP136A)
• 3.8 m @ 4.0 g/t Au from 567.8 m, EG Vein (WKP136)
Gerard Bond, President & CEO of OceanaGold, said “Today’s results continue to demonstrate the
continuity and upside potential at Wharekirauponga beyond the 1.2 Moz of Reserves we declared with the
PFS in December 2024. Continued growth of Wharekirauponga through drilling and exploring for further
discoveries in the district in 2025 is one of the best investments we can make and we look forward to the
potential to continue to grow the resource.
Additionally, the submission of our application for the Waihi North Project under the Fast-track Approvals
Act is a significant milestone for us and is a testament to the years of hard work, preparation and studies
that have gone into this submission. We are excited to now be one step closer to advancing this great
project and look forward to unlocking the value of Wharekirauponga for all of our stakeholders .”
Drill Results Overview
Since the Company’s exploration news release dated November 14, 2024, a total of five drill holes have
been completed which include four extensional drill holes, two from drill site 9 and two from site 8, each of
which has intersected significant mineralization in the high- grade southern shoot of the East Graben (EG)
vein zone (Table 1, Figures 1-3). Results demonstrate continuation of high-grade mineralization within the
EG vein and numerous hanging wall (HW) veins to the south. In addition, a single hole was completed in
the lower level of the northern shoot as part of geohydrological studies (Table 1, Figures 1- 3) intersecting
the EG vein and low-grade mineralization in WKPB01 (1.9 m @ 2.0 g/t Au).
Drilling continues to step out to the south and grow the high-grade southern shoot of the EG vein zone and
highlights ongoing potential with a further 600 metres of strike available to be tested from drill site 9. Holes
WKP132A (3.5 m @ 14.0 g/t Au) and WKP135 (6.3 m @ 8.7 g/t Au) demonstrate excellent grade and width
in the unconstrained up- dip and strike dimensions of the southern shoot. Hole WKP135, drilled from drill
site 9, is the southernmost hole drilled across the EG vein to date and demonstrates continuity in grade.
Hole WKP137, slightly higher in elevation, further supports this result intersecting 4.1 metres (true width)
on the EG vein with analyses pending (Figure 2).
Hole WKP135 also showed a high-grade intersection of 24.6 g/t over 1.7 metres (true width) across the EG
HWS (Hanging-Wall Splay ), similarly extending mineraliz ation in the hanging wall . A neighbouring hole
drilled in late 2024, WKP134A, also intersected high-grade mineralization on this structure with 16.0 g/t
over 2.3 metres (true width). Opportunity remains for up-plunge, down-plunge, and along-strike extensions
on this and other attendant hanging and footwall veins.
Drill holes WKP136 (3.8 m @ 4.0 g/t Au) and WKP136A (5.7 m @ 5.3 g/t Au) have improved the confidence
in mineralization at the lower level of the southern high-grade shoot with both holes displaying continuity in
geology and mineralization. These holes will also contribute to the growth of the resource in a future model
update.
Results can be viewed in 3D using VRIFY at the following link:
https://vrify.com/meetings/recordings/2379d4c3-4a93-440f-91fe-283ee8ca1c1d
VRIFY note: Drill results reflect those set forth in OceanaGold’s press release dated March 4, 2025. For further information, please
refer to the press release.
Figure 1: Wharekirauponga Plan View of Geology, Drill Traces and Distribution of 3 Main Vein Zones
Figure 2: Long Section of the EG Vein Drill Intersections (new holes in blue font)
Figure 3: Inset Long Section of the EG Vein Drill Intersections (new holes in blue font)
2025 Exploration Program
Exploration drilling for the 2025 drill program will target resource growth from drill sites 1, 8 and 9, testing
beyond the current southern extent of drilling, and up- dip of both current and future extension holes in the
south. The EG vein zone remains the primary, near -term target for drilling with 8,600 metres planned in
2025, targeting resource conversion and growth.
About Wharekirauponga, the Waihi North Project and the Fast-track Approvals Act
The Wharekirauponga vein system is located approximately 10 kilometres to the north of the Company’s
Waihi Gold Mine (Figure 4). Resource conversion drilling at Wharekirauponga during 2024 has increased
the Indicated Resource to 2. 4 million tonnes grading 17 .9 g/t Au for 1. 4 million ounces of gold and 1. 9
million tonnes grading 9.8 g/t Au for 0.6 million ounces of gold in the Inferred Resource category.
Wharekirauponga is part of WNP, which has the potential to create significant socio-economic contributions
for the communities in the Coromandel region and for New Zealand. This includes significant in- country
investments and a substantial increase to direct and indirect employment opportunities. OceanaGold
operates to the highest environmental and social standards which has enabled it to run a successful and
responsible mining business in New Zealand for over three decades.
The lodging of its substantive application for Fast-track approvals is consistent with the Company’s targeted
timeline for the grant of approvals by December 2025 and the commencement of decline and underground
development work for the proposed WUG mine in 2026. In 2025, $40-45 million of early works not requiring
Fast-track approvals are also planned. The Act was passed by the New Zealand Government in December
2024 and looks to accelerate the development of major projects with significant regional or national benefits.
Applications for Fast-track approvals opened in February 2025. For more information on the Act, please
see the Government of New Zealand’s website at https://environment.govt.nz/acts-and-
regulations/acts/fast-track-approvals/.
Figure 4: Location Map showing Waihi Gold Mine and Wharekirauponga Deposit
Table 1: Wharekirauponga drill intersections subsequent to the November 14, 2024 results update.
Drill Hole ID From (m) To (m) True width (m) Au (g/t) Ag (g/t) Vein
WKP132A 457.0 461.3 3.5 14.0 8.1 EG
WKP135 373.3 375.4 1.7 24.6 18.9 EG HWS
WKP135 450.0 457.0 6.3 8.7 11.2 EG
WKP136 567.8 573.7 3.8 4.0 9.6 EG
WKP136A 516.6 524.0 5.7 5.3 7.0 EG
WKPB01 328.6 333.0 1.9 2.0 14.3 EG
For further information relating to drill hole data for Wharekirauponga, please refer to the Company's
website at https://investors.oceanagold.com/additional-drillhole-data.
For further information please contact:
Investor Relations:
Rebecca Henare, Vice President Investor Relations
Tel: 1 (604) 678-4095
Media Relations:
Louise Burgess, Director, Communications
Tel: 1 (604) 403-2019
www.oceanagold.com
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly
maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our
shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of
America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.
Quality Assurance and Quality Control (QA/QC) at Wharekirauponga, Waihi Gold Mine
All exploration samples are assayed for gold by 30g fire assay with AAS finish. Since mid- 2022, drill core
sample intervals where visible electrum is logged are followed up by a subsequent screen fire assay after
the routine 30g fire assay. Holes WKP40- 45 had core samples shipped for sample preparation to the
independent SGS laboratory in Westport (New Zealand). Prepared pulps were then shipped to independent
Australian Laboratory Services Pty Ltd (ALS) in Brisbane, accredited to ISO/NATA 17025 for gold analysis
by fire assay and 4-acid digest, and 42 element ICP geochemical analysis. Holes drilled after WKP45 (i.e.,
WKP46 to WKP136) were prepared and analyzed at SGS Waihi NZ Ltd (Au by 30g fire assay and Ag by
aqua regia digest and 0.3gm AAS finish). Selected pulps are periodically sent to ALS in Brisbane for a 4-
acid digestion and 42 or 48 element ICP geochemical analysis.
Quality of exploration assay results has been monitored in the following areas:
• Sample preparation at the SGS Waihi and Westport labs through sieving of jaw crush and pulp
products;
• Monitoring of assay precision through routine generation of duplicate samples from a second split
of the jaw crush and calculation of the fundamental error; and
• Monitoring of accuracy of the primary SGS assay and ALS results through insertion Certified
Reference Materials (“CRMs”) and blanks into sample batches.
Blank, duplicate and CRM results are reviewed prior to uploading results in the AcQuire database and again
on a weekly basis. The protocol at Waihi requires CRMs to be reported to within 2 standard deviations of
the certified value. The criterion for preparation duplicates is that they have a relative difference (R-R1/mean
RR1) of no greater than 10%. Blanks should not exceed more than 4 times the lower detection value of the
assay method. Failure in any of these thresholds triggers an investigation and, if appropriate, re-assay. Drill
core is stored within secure facilities on site to which access is controlled. Site employees transport samples
to the analytical laboratory which is also a secured facility. The SGS Waihi NZ Ltd laboratory is an
independent commercial geochemistry and energy assay laboratory with ISO 17025: 2017 accreditation,
audited by an external consultant in 2020, and is inspected on a quarterly basis by OceanaGold geologists.
No sampling risks have been recorded during these visits.
Qualified Person Statement
The scientific and technical information relating to Waihi exploration results in this press release has been
reviewed and approved by Mr. Leroy Crawford-Flett, a Chartered Professional Member of the Australasian
Institute of Mining and Metallurgy , a qualified person under National Instrument 43- 101 – Standards of
Disclosure for Mineral Projects and an employee of OceanaGold.
Technical Report
For further information, please refer to the technical report entitled “NI 43- 101 Technical Report - Waihi
District Study Pre-feasibility Study, New Zealand” dated December 11, 2024 with an effective date of June
30, 2024, prepared by D. Townsend, L Crawford- Flett, K. Hollis, E Leslie, and T. Maton, (OceanaGold)
available on the SEDAR+ website at www.sedarplus.com under the Company's name and the Company’s
news release entitled “OceanaGold Reports Mineral Reserves and Resources for the Year Ended 2024”
dated February 19, 2025.