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21/9/2018 — Gold
More positive drilling at WKP

More positive results have been obtained by OceanaGold Corporation on the big epithermal gold target WKP near Waihi.

The company yesterday detailed additional high-grade intercepts on the East Graben Vein at WKP.

The company said these drill results add strike length, and support the high-grade results reported in July “and form part of a more extensive ongoing exploration drill programme.”

The latest drill hits included 5 metres grading 39.04 grams/tone gold and 76.6 g/t silver; 3.6m @ 35.79 g/t Au & 43.3 g/t Ag; 4.5m @ 10.46 g/t Au & 7.5 g/t Ag; and 2.1m @ 23.08 g/t Au & 49.5 g/t Ag.

Commenting, chief executive Mick Wilkes said: “The drill results at WKP continue to yield significant high-grade intercepts. The latest results indicate an extension to the known current strike length of the East Graben vein, which remains open in both directions.

“We continue to drill here as well as other major vein structures being discovered."

Wikes said drilling at WKP began in August last year with one and as the drill programme delivered positive results, OceanaGold allocated additional resources and investment to support the exploration.

“With the latest results, two rigs are dedicated to resource definition drilling and follow-up drilling is planned on other areas of high-grade mineralisation.”

Since July 2,381m of newe drilling at WKP has focused on the East Graben Vein; one of three major low sulphidation epithermal gold-silver veins identified so far within the WKP prospect area.

In addition to these known veins, multiple high-grade veins in the hangingwall and footwall of the East Graben Vein have been intercepted and require further drilling.

Drilling since July has continued to “successfully intersect high-grade mineralisation, increasing the strike length by a further one third to a total delineated strike length” of about 1 kilometre.

High-grade mineralisation is open in both directions, with 200m of vertical extent which is open for a further 100m-200 m up-dip (Figure 2).

Exploration will now mainly be focused on infill resource drilling within areas that have returned best true width intercepts.

OceanaGold said that for the remainer of this year the company expects to complete 5,300m of infill resource definition diamond drilling and to further drill testing of the other major veins on the prospect.

WKP, short for Wharekirauponga, was originally outlined by Waihi mining operator Newmont Mining Corporation and the since absorbed Glass Earth Gold. OceanaGold acquired all the Waihi assets from Newmont.

PDF File OceanaGold WKP Announcement (634.2 kilobytes)
PDF File WKP JORC CODE (2.0 megabytes)
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Drilling at WKP