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Oceanagold Reports Mineral Resources and Reserves for Year-Ended 2021
Significantly Increases Wharekirauponga Resources in New Zealand BRISBANE, March 31, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) ("OceanaGold" or
About this update from Oceanagold Corporation
[{"type":"text","content":" Significantly Increases Wharekirauponga Resources in New Zealand BRISBANE, March 31, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (\"OceanaGold\" or the \"Company\") is pleased to provide its annual Resource and Reserve (\"R&R\") statement for the year ended 31 December 2021. Highlights Wharekirauponga (\"WKP\") Indicated Resource increased 53% from 1.0 million tonnes (\"Mt\") at 13.4 g/t gold for 0.42 million ounces (\"Moz\") gold including 0.8 Moz silver to 1.5 Mt at 13.5 g/t gold for 0.64 Moz gold including 1.27 Moz silver. Inferred Resources of 2.3 Mt at 9.4 g/t gold for 0.7 Moz of gold including 1.6 Moz of silver remain, presenting a significant opportunity for future resource conversion. Year-on-year increase of 0.31 Moz Measured and Indicated Resources at Waihi, New Zealand, to 13.9 Mt at 4.81 g/t gold for 2.15 Moz gold, due to the conversion of Inferred Resources at Martha and WKP underground projects. Includes first Indicated Resources for the Palomino underground deposit at Haile, U.S.A; 2.3 Mt at 2.79 g/t gold for 0.20 Moz of gold. Inferred Resources of 3.6 Mt at 2.3 g/t gold for 0.26 Moz remain to be converted. Proven and Probable Reserves stood at 131 Mt at 1.33 g/t gold for 5.63 Moz gold, including 8.02 Moz silver and 0.15 Mt copper, a 0.43 Moz gold decrease year on year mainly due to mining depletion. Measured and Indicated Resources, inclusive of Mineral Reserves stood at 199 Mt at 1.43 g/t gold for 9.13 Moz gold, including 14.4 Moz silver and 0.17 Mt copper, a 0.92 Moz gold decrease year on year largely due to mining depletion and a reduction in the Round Hill open pit resource at Macraes, New Zealand. Scott Sullivan, Acting President and CEO of OceanaGold said, \"The recent resource conversion drill results and updated Indicated and Inferred Resources highlight WKP has the makings of a quality gold mine. The 2021 drill program at WKP saw a very high conversion rate of Inferred Resources to Indicated Resources which resulted in the significant increase in Indicated Resources from 1.0 Mt at 13.4 g/t gold for 0.42 Moz gold to 1.5 Mt at 13.5 g/t gold for 0.64 Moz gold including 1.27 Moz silver. The 2022 drill program is building on these exceptional results with a focus on delivering 1 Moz in the short-term at WKP in support of the up-coming pre-feasibility study.\" \"Our Reserves and Resources co...