OceanaGold Unveils Major Discoveries and Drill Outcomes

Exciting Exploration Results from OceanaGold

OceanaGold Corporation (TSX: OGC) has made significant strides in their exploration efforts at the Haile Gold Mine, showcasing outstanding drill results that highlight the potential of newly discovered areas. The company continues to emphasize its commitment to discovering valuable resources to support growth and enhance shareholder returns.

Highlights of the Latest Drill Results

The recent drilling campaign at Haile has yielded impressive highlights, particularly from two areas of interest: the Pisces and Horseshoe deposits. The core drilling at Pisces, situated close to established infrastructure, has shown promising results confirming its potential as a significant resource to supplement existing operations.

Pisces Discovery

The ongoing exploration at Pisces has led to remarkable intercepts, such as 44.2 meters grading 10.9 grams per tonne of gold (g/t Au) and 9.4 meters at an astounding 44.1 g/t Au. These results underscore the phase of exploration the company is currently navigating as they aim to fully define the size and potential of this new discovery.

Horseshoe Drill Results

In addition to Pisces, the Horseshoe deposit has also returned impressive data. Notable drill intersections include a striking 12.9 meters at 50.1 g/t Au and 31.9 meters at 11.7 g/t Au. These results are aligned with OceanaGold's expectations for continued resource expansion in this area, further enhancing the potential of the haulage economy at Haile.

Strategic Investment in Exploration

Gerard Bond, President & CEO of OceanaGold, expressed excitement regarding the exploration outcomes. The company has responded by increasing its exploration budget by 20%, now totaling $10 million for the upcoming year. This reflects their commitment to maximizing resource discovery and enhancing growth through strategic funding in exploration activities at Haile and beyond.

Mineralization and Future Prospects

Current findings suggest that mineralization at both the Pisces and Horseshoe locations remains open in all directions, hinting at a larger resource base than initially anticipated. The continuous improvement in drilling outcomes coupled with a dedicated budget positions OceanaGold strongly for future success.

Geological Insights

The geological context of the Pisces discovery highlights mineralization similar to both Horseshoe and Palomino, occurring at the contact of metavolcanic/metasediment layers. This positions OceanaGold to effectively strategize further drilling and development opportunities in the surrounding areas.

About OceanaGold

OceanaGold is recognized as a growing intermediate gold and copper producer dedicated to safe and responsible operational practices. With its portfolio including the Haile Gold Mine, the Didipio Mine in the Philippines, and the Macraes and Waihi operations in New Zealand, the company demonstrates a commitment to maximizing free cash flow generation while delivering value to shareholders.

Frequently Asked Questions

What are the recent discoveries made by OceanaGold?

The latest drill results from Haile reveal significant gold intercepts in the Pisces and Horseshoe areas, highlighting the potential for robust resource growth.

How has OceanaGold responded to the positive drill results?

In response to encouraging exploration outcomes, OceanaGold has increased its exploration budget by 20%, reaching $10 million for the year.

What is the significance of the Pisces discovery?

The Pisces discovery is important as it close to existing mining infrastructure and has shown promising high-grade results, indicating its potential as a valuable addition to operations.

What are the potential benefits of the Horseshoe deposit?

The significant drill intersections at Horseshoe indicate a strong resource potential for further development, supporting the overall growth strategy of OceanaGold.

Where can I find more information about OceanaGold?

For more insights, you can visit OceanaGold's official website, which contains detailed information about their projects and exploration efforts.

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