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17/8/2018 — Gold
Strong new drill results from Haile

The high tempo of exploration being carried out at or near OceanaGold Corporation’s (TSX & ASX: OGC) mining operations has seen a strong step forward taken at the new Haile gold mine in South Carolina in the United States.

The company last night released latest drilling as a follow up to a market update back in November last year.

Some of the best drill hits were:

  • 46.6 metres grading 4.93 grams/tonne gold between Ledbetter and the Snake zone.
  • 32.3m @ 10.14 g/t at Mill zone.
  • 77.7m @ 4.04 g/t at upper Ledbetter.
  • 21.3m @ 4.51 g/t at Red Hill.
  • 45.1m @ 1.17 g/t between Mill zone and Mustang.

Commenting, chief executive Mick Wilkes said: “I am very pleased to announce the results of brownfields drilling at Haile over the past nine months that are expected to add more low-cost ounces to our reserves.

“These results demonstrate the potential for additional mineralisation close to surface between current pit designs and at depth. Comprehensive geological reassessment from mapping and core logging has identified important structural controls that are being applied to our 3D models which will play a critical role in ongoing and future target generation.”

He said Haile's exploration team is also driving innovative modelling for emerging geophysical targets that will be pursued in 2019.

“Since acquiring the Haile Gold Mine in late 2015, we have delivered a 70% increase in reserves and, through our exploration programme, we continue to learn more about the genesis of the mineralisation.

OceanaGold continues to advance expansion of the process plant with the pebble crusher now fully constructed and commissioned. The Tower and Isa Mills, critical processing equipment for the expansion and recovery enhancement, are scheduled for completion in the first quarter of 2019.

Since the last exploration update, the Company has drilled 100 drill holes for a combined 26,149m at Haile using four surface diamond drills.

Resource infill and extension drilling has targeted low-cost reserve growth areas in and around the Ledbetter, Mustang, Mill Zone, Snake, Red Hill, and Haile deposits

Wilkes said favourable extension drill results are expected to add ore-grade mineralisation between pit designs at low strip ratios. Pit designs will likely be merged between the Mill zone/Mustang and Ledbetter/Snake pit designs.

PDF File Haile drilling announcement. (715.2 kilobytes)
PDF File Haile technical data. (802.9 kilobytes)
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