OceanaGold Announces High-Grade Mineralization Expansion and Project Approval Progress in New Zealand
OceanaGold Corporation, a leading gold and copper producer, has recently made headlines with exciting developments regarding its exploration efforts at the Wharekirauponga site in New Zealand. The company has reported results from ten drill holes, indicating a substantial extension of high-grade mineralization near its operations. This area is strategically located approximately 10 kilometers north of OceanaGold's Waihi mine, a key component of its operations.
According to the latest updates, significant gold intercepts have been recorded, marking a promising increase in the resource potential as the company continues its exploration and resource conversion program. Notably, drill hole WKP137A yielded impressive results with 13.9 meters grading at 25.8 grams per tonne of gold (g/t Au) at a depth of 466.8 meters, showcasing the remarkable potential of the EG vein structure. Other notable findings included 1.8 meters at a staggering 108.1 g/t Au from hole WKP124J, solidifying the region's reputation for high-grade mineralization.
Gerard Bond, the President and CEO of OceanaGold, expressed optimism concerning these new results, highlighting the extension of high-grade mineralization at the southern boundary of Wharekirauponga's resources. The company is set to continue its drilling activities throughout the year, aiming to further expand on these findings and build confidence in the mineral resource estimate.
In tandem with the positive drilling news, OceanaGold has received a draft decision from the Expert Panel appointed by the New Zealand government, indicating a provisional intention to approve the Waihi North Project (WNP) under the Fast-track Approvals Act. This project is crucial for extending the mine life of the Waihi operation and is anticipated to bring economic benefits to both local communities and shareholders. The draft decision will undergo a comment period, after which a final decision is expected by the end of 2025. OceanaGold is actively engaging with the relevant parties in anticipation of the project's approval.
The company is not merely resting on its laurels; during 2025, it has also allocated $45 million towards early works and project activities at WNP, including critical infrastructure developments like a water treatment plant and service trench constructions. These constructions are set to enhance operational capabilities while ensuring responsible development practices.
An intriguing aspect of the exploration at Wharekirauponga is the exploration program set for 2025, which includes a total of ten drill holes completed, targeting the EG vein zone, as well as a number of new sites added to the drilling program for deeper exploration. OceanaGold plans to double its drilling efforts, increasing from three to six rigs, thus enabling accelerated validation and definition of mineral resources.
The ongoing exploration highlights OceanaGold's commitment to advancing its operations and continuing to deliver strong returns for its shareholders, all while adhering to responsible mining practices. As developments unfold, industry stakeholders and local communities are keenly watching OceanaGold's progress as it aims to bolster resource estimations and improve local economic conditions while maintaining environmental integrity. This combination of strategic exploration and proactive project approval efforts positions OceanaGold as a leader in the mining sector, promising exciting times ahead for both the company and its stakeholders. For detailed updates, stakeholders can access a 3D visualization of drilling results through VRIFY, showcasing OceanaGold's innovative approach to modern exploration techniques.
According to the latest updates, significant gold intercepts have been recorded, marking a promising increase in the resource potential as the company continues its exploration and resource conversion program. Notably, drill hole WKP137A yielded impressive results with 13.9 meters grading at 25.8 grams per tonne of gold (g/t Au) at a depth of 466.8 meters, showcasing the remarkable potential of the EG vein structure. Other notable findings included 1.8 meters at a staggering 108.1 g/t Au from hole WKP124J, solidifying the region's reputation for high-grade mineralization.
Gerard Bond, the President and CEO of OceanaGold, expressed optimism concerning these new results, highlighting the extension of high-grade mineralization at the southern boundary of Wharekirauponga's resources. The company is set to continue its drilling activities throughout the year, aiming to further expand on these findings and build confidence in the mineral resource estimate.
In tandem with the positive drilling news, OceanaGold has received a draft decision from the Expert Panel appointed by the New Zealand government, indicating a provisional intention to approve the Waihi North Project (WNP) under the Fast-track Approvals Act. This project is crucial for extending the mine life of the Waihi operation and is anticipated to bring economic benefits to both local communities and shareholders. The draft decision will undergo a comment period, after which a final decision is expected by the end of 2025. OceanaGold is actively engaging with the relevant parties in anticipation of the project's approval.
The company is not merely resting on its laurels; during 2025, it has also allocated $45 million towards early works and project activities at WNP, including critical infrastructure developments like a water treatment plant and service trench constructions. These constructions are set to enhance operational capabilities while ensuring responsible development practices.
An intriguing aspect of the exploration at Wharekirauponga is the exploration program set for 2025, which includes a total of ten drill holes completed, targeting the EG vein zone, as well as a number of new sites added to the drilling program for deeper exploration. OceanaGold plans to double its drilling efforts, increasing from three to six rigs, thus enabling accelerated validation and definition of mineral resources.
The ongoing exploration highlights OceanaGold's commitment to advancing its operations and continuing to deliver strong returns for its shareholders, all while adhering to responsible mining practices. As developments unfold, industry stakeholders and local communities are keenly watching OceanaGold's progress as it aims to bolster resource estimations and improve local economic conditions while maintaining environmental integrity. This combination of strategic exploration and proactive project approval efforts positions OceanaGold as a leader in the mining sector, promising exciting times ahead for both the company and its stakeholders. For detailed updates, stakeholders can access a 3D visualization of drilling results through VRIFY, showcasing OceanaGold's innovative approach to modern exploration techniques.
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