OCEANAGOLD ANNOUNCES EXPLORATION RESULTS FROM REEFTON GOLDFIELD
2010年12月7日 - 9:32AM
PR Newswire (Canada)
MELBOURNE, Australia, Dec. 7 /CNW/ -- /NOT FOR DISSEMINATION OR
DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US
NEWSWIRE SERVICES./ MELBOURNE, Australia, Dec. 7 /CNW/ - OceanaGold
Corporation (ASX: OGC, TSX: OGC, NZX: OGC) ("the Company") is
pleased to announce exploration results from the Reefton Goldfield
in the West Coast region of the South Island of New Zealand.
HIGHLIGHTS -- The "Globe Deeps" drilling program has successfully
tested the Globe Progress shear beneath the current pit limits with
significant mineralisation intersected up to 250m down plunge from
the base of the current pit design (including RCD0008 17.8 metres @
4.59g/t Au and RCD0110: 17.0 metres @ 3.17g/t Au). -- At the
Souvenir deposit, an infill and extension drill program was
completed with significant mineralised intercepts (including
RRC0088: 17.3 metres @ 11.98g/t Au and RRC0117: 13.2 metres @
5.50g/t Au). This confirmed further down-dip continuation of
mineralisation. An expanded pit shell and reserve is anticipated by
year end. -- Drilling of several prospective near mine coincident
geologic and geochemical targets (program still in progress) has
returned encouraging intersections. This includes an intercept
(hole RDD0081) of 22m @ 1.67g/t Au (estimated true thickness of
4.5m) at the newly discovered Fraternal prospect approximately
1.5km to the NW of the Globe pit (Fig. 1). Further drilling of the
Fraternal prospect is scheduled to commence in January 2011. --
Extensions of high-grade mineralisation beneath the General Gordon
West, General Gordon East and Empress 1 deposits were drill tested.
Results from these programs (including RRC0098: 3.2m @ 4.91g/t Au
and RRC0101: 7.1m @ 4.12g/t Au) are encouraging and reflect the
potential of the area. A 2,900m follow-up drill program has been
completed and results are pending. Jim Askew, Executive Chairman
commented, "The results from the exploration program at Reefton are
very pleasing. The team was focused early in the year on
identifying priority targets and these drill results are a strong
follow-on to this work. Both the Globe Deeps and Fraternal results
point to new areas of mineralisation in close proximity to the
processing plant and these are being followed up with additional
drilling and studies." Figure 1: Overview Reefton Gold Project
Globe Deeps Drilling A major drilling programme (~5,000m) targeting
down-dip continuity of the Globe Progress mineralisation is near
completion. The program has been designed to evaluate both open-pit
and underground potential beyond the limit of the existing pit
design. Completion is expected by year end, with all assay results
returned in early 2011. To date, 11 holes (RCD0001 to 11) have been
completed for a total of 4,750 metres comprising 3,087 metres of
reverse circulation (RC) and strataPac pre-collars and 1,663 metres
of diamond drill hole (DDH) tails. Assay results have been received
for four of these drill holes so far (Table A and Figures 2).
Drilling has successfully tested the Globe Progress shear beneath
the current pit limits with significant mineralised intercepts
(including RCD0008: 17.8 metres @ 4.59g/t Au and RCD0110: 17.0
metres @ 3.17g/t Au). Hole RCD0110 was the deepest hole of the
program and intersected mineralisation 250m down plunge from the
base of the current pit design. These drill intercepts demonstrate
continuity of mineralisation to considerable depth and a
preliminary expanded pit or underground mining design will be
evaluated based on an inferred resource in 2011. This may trigger
the requirement for additional drilling to better define the grade
and extent of this deeper mineralisation. Table A. Selection of
Globe Progress Deep drilling intercepts Hole ID From(m) To(m)
Intercept (m) True width (m) Au (g/t) RCD0001A NSA RCD0006 247 264
17 13.4 2.21 including 247 257 10 7.9 2.97 RCD0006 274 283 9 7.0
2.79 RCD0008 270 290 20 17.8 4.59 including 289 290 1 0.9 31.6
RCD0010 313 340 27 17 3.17 including 314 324 10 6.3 4.81 including
333 340 7 4.4 4.09 (NSA = No significant assay results) Figure 2:
Cross section looking North West through recent Globe Deeps
Drilling Souvenir Deposit Two campaigns of reverse circulation (RC)
drilling have been completed at the Souvenir deposit (Table B and
Figure 3). Together these infill and extension drill programs
comprised 19 holes (RRC0077 to 89 and RRC0115 to 120) for 2,275
metres. Table B below provides a summary of selected intercepts.
The objective of the infill drill program was to test the down-dip
continuity of the ore body. Results were encouraging and a redesign
of the open pit is underway which is expected to increase the
reserve at this deposit. Table B. Selection of Souvenir drill
intercepts Hole ID From(m) To(m) Intercept(m) True width (m) Au
(g/t) RRC0077 66 71 5 3 1.26 RRC0078 94 102 8 4.8 4.72 Including 94
99 5 3 6.26 RRC0080 89 90 1 0.9 1.08 RRC0082 77 87 10 3.4 2.11
Including 79 80 1 0.3 10.6 RRC0082 90 91 1 0.3 1.36 RRC0082 93 96 3
1 0.84 RRC0082 100 104 4 1.4 3.75 Including 102 103 1 0.3 9.65
RRC0083 108 109 1 0.4 0.57 RRC0084 67 68 1 0.9 0.76 RRC0085 77 84 7
3.5 3 RRC0085 93 107 14 7 2.96 Including 93 100 7 3.5 5.29 RRC0086
96 102 6 3.6 4.03 RRC0088 80 99 19 17.3 11.98 Including 81 94 13
11.8 16.85 RRC0115 95 99 4.0 2.6 2.65 RRC0116 - - - - NSA RRC0117
72 94 22.0 13.2 5.50 including 79 82 3.0 1.8 18.00 RRC0118 70 79
9.0 7.5 6.53 including 72 78 6.0 5.0 8.63 including 75 77 2.0 1.7
15.60 RRC0119 69 78 9.0 5.5 7.48 including 70 76 6.0 3.7 9.08
RRC0120 Results Pending (NSA = No significant assay results) Figure
4: Plan of Souvenir Deposit Near-Mine Diamond Drilling Program on
Higher Priority Exploration Targets Detailed structural and
geologic mapping of the Reefton goldfield during Q4 2009 and Q1
2010 resulted in the identification of six high priority targets.
Drill testing of these targets commenced in the June quarter. The
initial drill program comprised eleven diamond drill holes (RDD0078
to RDD0087; RDD0081A) for a total of 1100 metres (Table C &
Figure 4). Three holes were drilled at South Souvenir (Target 30),
four holes at Fraternal (Target 3) and two holes at Target 8.
Mineralisation was intersected at all three targets with
particularly encouraging results reported from the Fraternal
Prospect (Target 3). A second phase of diamond drilling at
Fraternal (Target 3) will test the mineralisation along strike and
down dip, and is expected to commence in January 2011. Table C.
Selection of near-mine drill intercepts Hole ID Prospect From(m)
To(m) Intercept(m) True width Au (g/t) (m) RDD0078 Souvenir 54 56 2
N/A 0.66 South RDD0079 Souvenir 26 27 1 N/A 2.34 South RDD0079
Souvenir 28 30 2 N/A 0.49 South RDD0081 Fraternal 45 67 22 4.5 1.67
including Fraternal 55 67 12 2.9 2.11 RDD0081A Auld Creek 57 68 11
2.6 1.63 including Auld Creek 57 63 6 1.4 2.19 RDD0084 Auld Creek
77 78 1 N/A 2.54 RDD0085 Auld Creek 30 66 36 13.2 1.56 including
Auld Creek 30 38 8 3.0 2.73 including Auld Creek 41 51 10 3.7 2.19
including Auld Creek 59 66 7 2.6 1.34 RDD0086 Auld Creek 90 96 6
0.8 4.14 RDD0087 Auld Creek 63 98 35 6.0 4.11 including Auld Creek
63 81 18 3.1 5.74 Figure 4: Plan of Near Mine Diamond Drilling
General Gordon and Empress 1 Deposits Six reverse circulation (RC)
holes (RRC0097 to 102) for a total of 1,259 metres were drilled in
the June quarter to test down plunge potential and grade continuity
of mineralisation beneath General Gordon West, General Gordon East
and Empress 1 deposits (Table D & Figure 5). The holes were
designed to test 60 to 130 metres down plunge from previous
drilling. The program was successful in identifying mineralisation
down plunge and assay results included a high grade intercept in
RRC0101 of 4 metres (1.7 metres true thickness) @ 11.89 g/t Au. A
12 hole (RRC0103 to 114) follow-up program for 2,937 metres was
completed in November. Once all the assay results are received and
validated, a geological interpretation will be completed in early
2011 to assess the economic potential of this mineralisation. Table
D. Selection of General Gordon West, General Gordon East and
Empress 1 drill intercepts Hole ID From(m) To(m) Intercept(m) True
width (m) Au (g/t) RRC0097 111 118 7 3.5 1.32 RRC0098 112 116 4 3.2
4.91 including 115 116 1 0.8 10.5 RRC0098 134 138 4 3.2 1.50
including 134 135 1 0.8 4.26 RRC0099 201 216 15 13.0 1.34 including
204 206 2 1.7 3.02 RRC0100 107 111 4 2.0 1.78 including 108 110 2
1.0 2.15 RRC0100 117 122 5 2.5 1.07 RRC0100 128 159 31 15.5 1.02
RRC0101 193 210 17 7.1 4.12 including 204 208 4 1.7 11.89 including
206 207 1 0.4 36.00 RRC0101 212 218 6 2.4 1.13 RRC0101 222 224 2
0.8 0.49 RRC0102 205 212 7 6.1 1.11 RRC0102 217 224 7 6.1 1.78
including 222 224 2 1.7 3.85 Figure 6: Plan of General Gordon and
Empress Deposits Surface Geochemical Sampling Program A program of
surface geochemical sampling of 14 highly ranked coincident
geological - geochemical targets located within 4km of the
processing plant commenced in Q2 2010 and was completed in October.
High-quality rock chip samples are being collected on a 25 x 100
metre spacing with a modified jack hammer (wacker drill), allowing
bedrock specimens to be collected from beneath younger cover down
to a maximum depth of ~10m. More than 1,000 samples have been
collected to date from 12 Targets (Figure 7). Assays received to
date (n=877) have returned highly anomalous gold values of up to
1.36 g/t Au. Significant results of the program are being
further defined by infill sampling and surface mapping, expected to
be completed by end of first Quarter of 2011. Targets will be drill
tested in the first half of 2011. A second phase of surface
geochemical sampling has commenced targeting other high-priority
regional prospects including Big River, Big River South, the
Crushington Group and Krantz Creek. Figure 7: Plan of Planned
Surface Geochemical Sampling Qualified Persons Dr Michael Roache,
VP Exploration, and Jonathan Moore, Principal Resource Geologist,
both of Oceana Gold New Zealand Limited are the "qualified persons"
pursuant to National Instrument 43-101 of the Canadian Securities
Administrators. Both are members of the AusIMM. The Qualified
Persons, Dr Roache and Mr Moore have prepared the technical
information and approved the contents of this news release. Quality
Control Mr Jonathan Moore, B.Sc (Hons) Geology and Dip.Grad.
Physics, is the Principal Resource Geologist with Oceana Gold (NZ)
Ltd and is the Qualified Person under National Instrument 43-101 -
Standards of Disclosure of Mineral Projects ("NI 43-101") for the
technical disclosure in this release and has verified the data
disclosed, including sampling, analytical and test data underlying
the information contained in this release. Samples, collected at 1m
intervals from both reverse circulation chips and sawn diamond
core, were prepared and assayed by fire assay methods at the
OceanaGold facilities at Reefton, New Zealand, the SGS facilities
in Westport and Waihi, New Zealand and the ALS facilities in
Brisbane, Australia. Standard reference materials were inserted to
monitor the quality control of the assay data. For further
scientific and technical information (including disclosure
regarding mineral resources and mineral reserves) relating to the
Reefton Project, please refer to the NI 43-101 compliant technical
report entitled "Independent Technical Report for the Reefton
Project, located in the province of Westland, New Zealand" dated 9
May 2007, which is available at sedar.com under the Company's name.
Full Company Release To view the full company release, including
images please refer the following link to the company's website
http://www.oceanagold.com/images/documents/files/101207_reefton_exploration_update.pdf
About OceanaGold OceanaGold Corporation is a significant Pacific
Rim gold producer with projects located on the South Island of New
Zealand and in the Philippines. The Company's assets encompass New
Zealand's largest gold mining operation at the Macraes goldfield in
Otago which is made up of the Macraes open pit and the Frasers
Underground mines. Additionally on the west coast of the South
Island, the Company operates the Reefton open-pit mine. OceanaGold
produces between 270,000 - 290,000 ounces of gold per annum from
the New Zealand operations. The Company also owns the Didipio
Project in northern Luzon, Philippines where construction is
scheduled to re-commence in H1 2011. OceanaGold is listed on the
Toronto, Australian and New Zealand stock exchanges under the
symbol OGC. Cautionary Statement Statements in this release may be
forward-looking statements or forward-looking information within
the meaning of applicable securities laws. Any statements that
express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as "expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "estimates" or
"intends", or stating that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved) are not statements of historical fact and may be
forward-looking statements. Such forward-looking statements
include, without limitation, statements with respect to any future
reserves attributable to the Reefton projects and estimated
production from the Company's existing properties. Forward-looking
statements are subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those
reflected in the forward-looking statements including, among
others, the accuracy of mineral reserve and resource estimates and
related assumptions, inherent operating risks and those risk
factors identified in the Company's Annual Information Form
prepared and filed with securities regulators in respect of its
most recently completed financial year. There are no assurances the
Company can fulfil such forward-looking statements and, subject to
applicable securities laws, the Company undertakes no obligation to
update such statements. Such forward-looking statements are only
predictions based on current information available to management as
of the date that such predictions are made; actual events or
results may differ materially as a result of risks facing the
Company, some of which are beyond the Company's control.
Accordingly, readers should not place undue reliance on
forward-looking statements. It is also noted that mineral resources
that are not mineral reserves do not have demonstrated economic
viability. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/December2010/06/c3020.html
pMr Darren Klinck/p p align="justify"Vice President, Corporate and
Investor Relations/p p align="justify"Tel: +61(3) 9656 5300/p
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