OceanaGold Reports Major Expansion in Wharekirauponga Strike Length
OceanaGold Corporation, a prominent player in the mining sector, has announced the latest developments in their exploration and resource conversion program at the Wharekirauponga site in New Zealand. Located approximately 10 kilometers north of the company's Waihi operations, this site has shown promising results from seven drill holes.
The recent drilling campaign has highlighted the substantial scale of gold mineralization in the EG vein zone, which has now been extended to over 1.4 kilometers in strike length. This expansion includes an additional 240 meters south of previously identified mineralization, confirming that the area remains open to more discoveries in all directions. Three drilling rigs are currently in operation, focusing on resource extension, conversion, and geotechnical assessments needed for developing an underground mine.
Gerard Bond, President and CEO of OceanaGold, expressed his enthusiasm about these findings. He stated that the results reaffirm the potential for growth at Wharekirauponga, positioning it as a core asset in the company's portfolio that is expected to enhance shareholder returns significantly. These observations suggest that further exploratory drilling and resource conversion efforts could accelerate growth in this promising mining area.
The drilling undertaken spans various configurations aimed at understanding the mineral potential of the EG, hanging wall (HW), and footwall (FW) veins. Among the notable intersections, drill hole WKP137 reported impressive results, revealing 4.0 meters at an average grade of 43.8 grams per tonne (g/t) Au, while WKP124E confirmed high-grade mineralization of 4.1 meters at 11.5 g/t Au in the EG vein, consolidating the geological data needed for resource estimates.
Two step-out holes, WKP138 and WKP139, extended the known mineralization significantly, confirming that there is still substantial potential remaining in the southern section of the EG vein. Drill hole WKP138 returned 6.1 meters at 5.6 g/t Au, showcasing the promising nature of expansions in this region.
The HWS and FW structures have also contributed positively to the overall mineralization. With the identification of a new vein in the FW zone, which reported 8.1 meters at 11.8 g/t Au, it suggests that previous models may have missed additional valuable mineral zones.
The exploration strategy for 2025 reflects an ambitious agenda aimed at further growth in the resource and exploration at Wharekirauponga. The company plans to increase the number of drill sites by adding eight new locations to the program while enhancing drilling capacity with up to six rigs operating simultaneously.
OceanaGold's commitment to expanding this exploration is evident as they seek to accelerate the drilling process. Approximately 5,000 meters of drilling is still planned for the remaining year, focusing on the EG vein zone, which continues to be the primary target for new resource development.
OceanaGold's initiatives at Wharekirauponga not only emphasize its growth trajectory but also mark a significant development for its operational strategy. The successful expansion in strike length and the continuous high-grade intersections highlight the site's importance in OceanaGold's portfolio and its potential impact on future profitability. As the company presses forward with its explorative efforts, it is poised to significantly influence the gold mining landscape in New Zealand, ensuring richer returns for its shareholders and stakeholders alike.
The recent drilling campaign has highlighted the substantial scale of gold mineralization in the EG vein zone, which has now been extended to over 1.4 kilometers in strike length. This expansion includes an additional 240 meters south of previously identified mineralization, confirming that the area remains open to more discoveries in all directions. Three drilling rigs are currently in operation, focusing on resource extension, conversion, and geotechnical assessments needed for developing an underground mine.
Gerard Bond, President and CEO of OceanaGold, expressed his enthusiasm about these findings. He stated that the results reaffirm the potential for growth at Wharekirauponga, positioning it as a core asset in the company's portfolio that is expected to enhance shareholder returns significantly. These observations suggest that further exploratory drilling and resource conversion efforts could accelerate growth in this promising mining area.
Recent Drill Results
The drilling undertaken spans various configurations aimed at understanding the mineral potential of the EG, hanging wall (HW), and footwall (FW) veins. Among the notable intersections, drill hole WKP137 reported impressive results, revealing 4.0 meters at an average grade of 43.8 grams per tonne (g/t) Au, while WKP124E confirmed high-grade mineralization of 4.1 meters at 11.5 g/t Au in the EG vein, consolidating the geological data needed for resource estimates.
Two step-out holes, WKP138 and WKP139, extended the known mineralization significantly, confirming that there is still substantial potential remaining in the southern section of the EG vein. Drill hole WKP138 returned 6.1 meters at 5.6 g/t Au, showcasing the promising nature of expansions in this region.
The HWS and FW structures have also contributed positively to the overall mineralization. With the identification of a new vein in the FW zone, which reported 8.1 meters at 11.8 g/t Au, it suggests that previous models may have missed additional valuable mineral zones.
Future Exploration Plans
The exploration strategy for 2025 reflects an ambitious agenda aimed at further growth in the resource and exploration at Wharekirauponga. The company plans to increase the number of drill sites by adding eight new locations to the program while enhancing drilling capacity with up to six rigs operating simultaneously.
OceanaGold's commitment to expanding this exploration is evident as they seek to accelerate the drilling process. Approximately 5,000 meters of drilling is still planned for the remaining year, focusing on the EG vein zone, which continues to be the primary target for new resource development.
Conclusion
OceanaGold's initiatives at Wharekirauponga not only emphasize its growth trajectory but also mark a significant development for its operational strategy. The successful expansion in strike length and the continuous high-grade intersections highlight the site's importance in OceanaGold's portfolio and its potential impact on future profitability. As the company presses forward with its explorative efforts, it is poised to significantly influence the gold mining landscape in New Zealand, ensuring richer returns for its shareholders and stakeholders alike.
Topics Heavy Industry & Manufacturing）
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