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OceanaGold Continues to Intercept High-Grade Mineralisation at Multiple Haile Underground Drill Targets
BRISBANE, Australia, Feb. 24, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the "Company") is pleased to announce an update on exploration and reso
About this update from Oceanagold Corporation
[{"type":"text","content":" BRISBANE, Australia, Feb. 24, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the \"Company\") is pleased to announce an update on exploration and resource conversion drilling at the Company's Haile Gold Mine (\"Haile\") in South Carolina, United States. This update reports drill results from Haile Underground targets following the updates last provided on March 31, 2020 (\"March 2020 update\") and February 27, 2019 (\"February 2019 update\"). The Company continues to intercept high-grade mineralisation at multiple underground drill targets with significant drill intersections. At the Horseshoe Extension, of the thirteen drill holes completed from the 2021 program, highlights include: DDH1096: 7.45 g/t gold over 43.4 metres from 338.6 metres DDH1101: 4.09 g/t gold over 24.7 metres from 284.4 metres DDH1102: 5.49 g/t gold over 13.4 metres from 404.0 metres Infill drilling at Palomino continues to improve confidence in grade distribution and continuity of mineralisation. Of the sixteen drill holes completed from the 2021 program, highlights include: DDH115: 7.77 g/t gold over 101.3 metres from 399.2 metres DDH1108: 5.91 g/t gold over 67.1 metres from 328.1 metres DDH1103: 6.39 g/t gold over 51.5 metres from 263.3 metres Scott Sullivan, Acting President & CEO of OceanaGold said, \"We have always seen the underground potential at Haile, and these drill results highlight the future opportunities that exist for the operation. The Horseshoe deposit will be mined first, with the Palomino deposit being the next target for advancement. We have significant potential at both deposits as reflected by the drill results we are reporting today. We look forward to going underground to not only mine higher-grade ore from Horseshoe, but drill test the multiple targets we have identified.\" The Company commenced underground exploration in 2016, shortly after acquiring the asset. Since then, the Company has defined a pipeline of opportunities including Horseshoe, Palomino, Horseshoe Extension, and Pisces, all of which are now in various stages of understanding from Probable Reserves (Horseshoe), Inferred Resources (Palomino), resource definition (Horseshoe Extension), and initial drilling (Pisces). Horseshoe Underground Mine: Horseshoe Underground is scheduled to begin development in 2022 with a Probable Mineral ...