Business
OceanaGold Reports Mineral Resources and Reserves for Year Ended 2022
VANCOUVER, BC, March 31, 2023 /CNW/ - OceanaGold Corporation (TSX: OGC) ("OceanaGold" or the "Company") is pleased to provide its Resource and Reserve ("R&R") s
About this update from Oceanagold Corporation
[{"type":"text","content":" VANCOUVER, BC, March 31, 2023 /CNW/ - OceanaGold Corporation (TSX: OGC) (\"OceanaGold\" or the \"Company\") is pleased to provide its Resource and Reserve (\"R&R\") statement for the year-ended 31 December 2022. Gerard Bond, President and CEO of OceanaGold said, \"Our Reserves and Resources continue to provide a solid foundation for OceanaGold, underpinning our growth in gold production over the coming years. In 2022, we continued to have success delineating the underground potential at Haile, as evidenced by resource additions at both Horseshoe and Palomino. We also successfully added resource ounces at Didipio, with limited drilling, and Golden Point Underground at Macraes. While resource conversion drilling at Wharekirauponga was impacted by restrictions associated with drought conditions in 2022, we expect to continue delineating this deposit in 2023. We are excited about our continued resource conversion and growth opportunities at Haile Underground, Didipio, Martha Underground and Wharekirauponga, and have increased our near-mine exploration budgets by over 35% for 2023.\" Highlights Increased Indicated Resources by 0.18 Moz at Palomino Underground, Haile, USA. Increased Inferred Resources by 0.16 Moz at Horseshoe Underground, Haile, USA. Increased Inferred Resources by 0.16 Moz at Golden Point Underground, Macraes, New Zealand. 0.05 Moz increase in Indicated Resources in Panel 2, Didipio, Philippines. Total Proven and Probable Reserves stood at 5.20 Moz gold (124 Mt at 1.30 g/t gold), including 7.4 Moz silver and 0.15 Mt copper. Total Measured and Indicated Resources, inclusive of Mineral Reserves, stood at 8.59 Moz gold (186 Mt at 1.44 g/t gold), including 13 Moz silver and 0.17 Mt copper. Total Inferred Resources stood at 3.9 Moz of gold (59 Mt at 2.1 g/t gold), largely un-changed year-over-year as increases at Golden Point Underground, Horseshoe Underground, and Martha Underground offset conversion to Indicated Resources success at Palomino. Total Mineral Reserves As at December 31, 2022, OceanaGold's Proven and Probable (\"P&P\") Reserves stood at 124 Mt at 1.30 g/t gold for 5.20 Moz of gold, including 7.4 Moz of silver and 0.15 Mt of copper, representing a 0.43 Moz decrease in gold Reserves year-over-year (see Table 1), largely due to mining depletion. Total Mineral Resources As at December 31, 202...