/NOT FOR DISSEMINATION OR
DISTRIBUTION IN THE UNITED STATES
AND NOT FOR DISTRIBUTION TO US NEWSWIRE
SERVICES./
MELBOURNE,
March 29, 2018 /CNW/ - OceanaGold
Corporation (TSX/ASX: OGC) (the "Company") is pleased to
provide its updated annual Resource and Reserve ("R&R")
statement for the year ended December 31,
2017 and wishes to announce the commencement of the
permitting process for the Martha Project at Waihi.
Key Highlights
- Total Proven and Probable Reserves of 5.88 Moz of gold,
3.57 Moz of silver and 0.15 Mt of copper.
- Total Measured and Indicated Resources, including
Reserves, of 8.68 Moz of gold, 4.23 Moz of silver and 0.17 Mt of
copper and Inferred Resources of 2.6 Moz of gold, 0.6 Moz of silver
and 0.03 Mt of copper.
- At Waihi, a maiden open pit Indicated Resource at the
Gladstone prospect of
approximately 98,000 ounces of gold and 235,000 ounces of silver
and Inferred Resources of approximately 12,000 ounces of gold and
19,000 ounces of silver.
- Commencement of the permitting process for the Martha
Project.
Mick Wilkes, President and CEO
said "Our high-quality assets are located within jurisdictions that
are known for its considerable mineral endowment. Through
exploration, we are working to unlock the additional value that
exists within each operation, as exemplified by the addition of the
Gladstone Resource, to drive value for our shareholders." He added
"In 2018, we will continue to invest in our business and, with an
exploration budget of approximately $30
million our exploration activities will focus on
opportunities that are expected to create the greatest shareholder
value. Brownfield exploration activities will focus on the Martha
Project at Waihi, where we expect to incrementally increase
Reserves and Resources to produce a 10-year mine life, while our
greenfield exploration program will continue to test the WKP
prospect, to the north of Waihi, as well as regional targets within
the Carolinas in the United States
and exploration targets in Argentina."
He went on to say, "At Waihi, I am very pleased to
announce the start of the permitting process for the Martha
Project. The Martha Project exploration target is the first stage
of an anticipated 10-year mine life extension for the operation,
that will create increased shareholder value and continue to
deliver significant socio-economic benefits to the town of Waihi
and the many other stakeholders for many years to come."
Table 1 – Updated Reserve Table (as at 31 December
2017)
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PROJECT
|
Cut-off
|
PROVEN
|
|
PROBABLE
|
|
PROVEN & PROBABLE
|
AREA
|
Mt
|
Au g/t
|
Ag g/t
|
Cu %
|
|
Mt
|
Au g/t
|
Ag g/t
|
Cu %
|
|
Mt
|
Au g/t
|
Ag g/t
|
Cu %
|
Au Moz
|
Ag Moz
|
Cu Mt
|
MACRAES Open Pit
|
0.4g/t Au
|
9.08
|
1.06
|
-
|
-
|
|
22.2
|
1.08
|
-
|
-
|
|
31.3
|
1.08
|
-
|
-
|
1.08
|
-
|
-
|
MACRAES Underground
|
1.9g/t Au
|
0.74
|
2.34
|
-
|
-
|
|
1.07
|
1.97
|
-
|
-
|
|
1.81
|
2.12
|
-
|
-
|
0.12
|
-
|
-
|
WAIHI Open Pit
|
0.5g/t Au
|
0.16
|
3.05
|
30.5
|
-
|
|
0.66
|
2.91
|
29.1
|
-
|
|
0.81
|
2.94
|
29.4
|
-
|
0.08
|
0.77
|
-
|
WAIHI Underground
|
2.9g/t Au
|
0.18
|
6.74
|
13.5
|
-
|
|
0.75
|
5.31
|
10.5
|
-
|
|
0.93
|
5.58
|
11.1
|
-
|
0.17
|
0.33
|
-
|
NEW ZEALAND
|
|
10.2
|
1.28
|
-
|
-
|
|
24.7
|
1.30
|
-
|
-
|
|
34.9
|
1.29
|
-
|
-
|
1.45
|
1.10
|
-
|
DIDIPIO Open Pit
|
0.52g/t AuEq
|
21.9
|
0.42
|
2.08
|
0.35
|
|
-
|
-
|
-
|
-
|
|
21.9
|
0.42
|
2.08
|
0.35
|
0.30
|
1.46
|
0.08
|
DIDIPIO Underground
|
1.3g/t AuEq
|
3.60
|
2.55
|
1.84
|
0.49
|
|
13.5
|
1.54
|
1.84
|
0.42
|
|
17.1
|
1.75
|
1.84
|
0.43
|
0.96
|
1.01
|
0.07
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PHILIPPINES
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|
25.5
|
0.72
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-
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-
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13.5
|
1.54
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-
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-
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39.0
|
1.00
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-
|
-
|
1.26
|
2.47
|
0.15
|
HAILE Open Pit
|
0.45g/t Au
|
11.5
|
1.99
|
-
|
-
|
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41.4
|
1.51
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-
|
-
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52.8
|
1.61
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-
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-
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2.74
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-
|
-
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HAILE Underground
|
1.5g/t Au
|
-
|
-
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-
|
-
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|
3.1
|
4.38
|
-
|
-
|
|
3.12
|
4.38
|
-
|
-
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0.44
|
-
|
-
|
USA
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|
11.5
|
1.99
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-
|
-
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|
44.5
|
1.71
|
-
|
-
|
|
56.0
|
1.76
|
-
|
-
|
3.18
|
-
|
-
|
|
|
|
|
|
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|
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TOTAL
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47.1
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1.15
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-
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-
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82.7
|
1.56
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-
|
-
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|
130
|
1.41
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-
|
-
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5.88
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3.57
|
0.15
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Notes:
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1.
|
Reserves are reported
within current mine designs based upon US$1,300/oz gold, US$3.00/lb
copper and US$19/oz silver.
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2.
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Reported estimates of
contained metal do not make allowances for processing
losses.
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Table 2 – Updated Resource Statement (as at 31
December 2017)
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PROJECT
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Cut-off
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MEASURED
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INDICATED
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MEASURED & INDICATED
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AREA
|
Mt
|
Au g/t
|
Ag g/t
|
Cu %
|
|
Mt
|
Au g/t
|
Ag g/t
|
Cu %
|
|
Mt
|
Au g/t
|
Ag g/t
|
Cu %
|
Au Moz
|
Ag Moz
|
Cu Mt
|
MACRAES Open Pit
|
0.4g/t Au
|
17.4
|
1.18
|
-
|
-
|
|
65.6
|
1.00
|
-
|
-
|
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83.1
|
1.04
|
-
|
-
|
2.76
|
-
|
-
|
MACRAES Underground
|
1.20g/t Au
|
4.87
|
2.96
|
-
|
-
|
|
5.00
|
2.34
|
-
|
-
|
|
9.9
|
2.65
|
-
|
-
|
0.84
|
-
|
-
|
WAIHI Open Pit
|
0.5g/t Au
|
0.16
|
3.05
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30.5
|
-
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|
2.07
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2.38
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12.5
|
-
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|
2.23
|
2.43
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13.7
|
-
|
0.17
|
0.98
|
-
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WAIHI Underground
|
2.5g/t Au
|
0.18
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6.74
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13.4
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-
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0.85
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5.41
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10.8
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-
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1.03
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5.64
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11.3
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-
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0.19
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0.37
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-
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NEW ZEALAND
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|
22.6
|
1.62
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-
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-
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73.6
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1.18
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-
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-
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96.2
|
1.28
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-
|
-
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3.97
|
1.36
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-
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DIDIPIO Open Pit
|
0.4g/t AuEq
|
27.2
|
0.37
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2.01
|
0.31
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-
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-
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-
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-
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27.2
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0.37
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2.01
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0.31
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0.33
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1.75
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0.09
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DIDIPIO Underground
|
1.17g/t AuEq
|
3.80
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2.43
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2.10
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0.47
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13.7
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1.75
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1.96
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0.46
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17.5
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1.90
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1.99
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0.46
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1.07
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1.12
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0.08
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PHILIPPINES
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|
31.0
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0.63
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-
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-
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13.7
|
1.75
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-
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-
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44.7
|
0.97
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-
|
-
|
1.39
|
2.88
|
0.17
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HAILE Open Pit
|
0.45g/t Au
|
11.6
|
1.97
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-
|
-
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43.9
|
1.48
|
-
|
-
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|
55.5
|
1.58
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-
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-
|
2.82
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-
|
-
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HAILE Underground
|
1.17g/t Au
|
-
|
-
|
-
|
-
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|
2.71
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5.68
|
-
|
-
|
|
2.71
|
5.68
|
-
|
-
|
0.49
|
-
|
-
|
USA
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|
11.6
|
1.97
|
-
|
-
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|
46.6
|
1.72
|
-
|
-
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|
58.2
|
1.77
|
-
|
-
|
3.32
|
-
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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TOTAL
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65.3
|
1.21
|
-
|
-
|
|
134
|
1.43
|
-
|
-
|
|
199
|
1.36
|
-
|
-
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8.68
|
4.23
|
0.17
|
|
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|
|
|
|
|
|
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|
|
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|
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PROJECT
|
Cut-off
|
INFERRED
|
AREA
|
Mt
|
Au g/t
|
Ag g/t
|
Cu %
|
Au Moz
|
Ag Moz
|
Cu Mt
|
MACRAES Open Pit
|
0.4g/t Au
|
27
|
0.9
|
-
|
-
|
0.7
|
-
|
-
|
MACRAES Underground
|
1.20g/t Au
|
1.4
|
2.0
|
-
|
-
|
0.1
|
-
|
-
|
BLACKWATER
|
|
0.9
|
23
|
-
|
-
|
0.7
|
-
|
-
|
WAIHI Open Pit
|
0.5g/t Au
|
0.3
|
1.3
|
2.0
|
-
|
0.0
|
0.0
|
-
|
WAIHI Underground
|
2.5g/t Au
|
0.7
|
6.9
|
14
|
-
|
0.1
|
0.3
|
-
|
NEW ZEALAND
|
|
30
|
1.7
|
-
|
-
|
1.7
|
0.3
|
-
|
DIDIPIO Open Pit
|
0.4g/t AuEq
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
DIDIPIO Underground
|
1.17g/t AuEq
|
6.4
|
1.4
|
1.5
|
0.4
|
0.3
|
0.3
|
0.03
|
PHILIPPINES
|
|
6.4
|
1.4
|
-
|
-
|
0.3
|
0.3
|
0.03
|
HAILE Open Pit
|
0.45g/t Au
|
12
|
1.0
|
-
|
-
|
0.4
|
-
|
-
|
HAILE Underground
|
1.17g/t Au
|
1.2
|
5.0
|
-
|
-
|
0.2
|
-
|
-
|
USA
|
|
13
|
1.4
|
-
|
-
|
0.6
|
-
|
-
|
|
|
|
|
|
|
|
|
|
TOTAL
|
|
50
|
1.6
|
-
|
-
|
2.6
|
0.6
|
0.03
|
|
Notes:
|
1.
|
Mineral Resources
include Mineral Reserves.
|
2.
|
Macraes open pit
resources constrained by a NZ$2,083/oz gold price pit
shell.
|
3.
|
The Waihi open pit
resources are reported within a pit design to the
890mRL.
|
4.
|
92% of Waihi Inferred
Resources are from Martha underground which are reported at a 3.5
g/t Au-cut-off
|
5.
|
For Didipio, all
in-situ open pit resources have been depleted. Only stockpiles
remain. Underground resources reported between the 2,460mRL and
2,080mRL with gold equivalence (AuEq) cut-off based on US$1,500/oz
gold and US$3.50/lb copper.
|
6.
|
Haile open pit
resources are reported within a US$1,500/oz gold price pit
shell
|
|
|
|
Table 3 – Updated Resource Statement for Minority
Interest in Assets (as at December 31, 2017)
|
|
|
|
|
|
|
ASSET
|
PROVEN
|
|
PROBABLE
|
|
PROVEN & PROBABLE
|
Mt
|
Au g/t
|
Au Moz
|
|
Mt
|
Au g/t
|
Au Moz
|
|
Mt
|
Au g/t
|
Au Moz
|
SAMS CREEK
|
-
|
-
|
-
|
|
2.0
|
1.77
|
0.11
|
|
2.0
|
1.3
|
0.1
|
TOTAL
|
-
|
-
|
-
|
|
2.0
|
1.77
|
0.11
|
|
2.0
|
1.3
|
0.1
|
|
Notes:
|
1.
|
OceanaGold has a 20%
interest in the Sams Creek Project. Reported at a 0.7 g/t Au
cut-off and factored by the percentage ownership.
|
Consolidated Measured and Indicated ("M&I") Resources
(inclusive of Reserves) totalled 8.68 Moz of gold, 4.23 Moz of
silver and 0.17 Mt of copper, a year-on-year decrease due to a
combination of mine depletion and the removal of Reefton
Resources.
Total consolidated Inferred Resources stood at 2.6 Moz of
gold, 0.6 Moz of silver and 0.03 Mt of copper.
On a consolidated basis, the Company's Proven and Probable
("P&P") Reserves stood at 5.88 Moz of gold, 3.57 Moz of silver
and 0.15 Mt of copper. Year-on-year, gold reserves increased
by 17%, or 0.84 Moz, net of mining depletion and are inclusive of
the results of the Haile Optimisation Study, which was publicly
announced on 26 June 2017. Silver and
copper reserves decreased by 1.46 Moz and 0.03 Mt respectively due
to mine depletion, improved geological understanding through
drilling and a revised Resource estimate.
New
Zealand
Waihi
M&I Resources, including Reserves,
totalled 0.36 Moz of gold, consisting of 0.19 Moz of gold in the
underground and 0.17 Moz in the open pit.
Waihi open pit M&I Resources increased to 0.17 Moz
following the announcement of a maiden Resource at the Gladstone prospect.
P&P Reserves totalled 0.24 Moz of gold, with 0.17 Moz
of gold and 0.33 Moz of silver in the underground, reflecting
underground mine depletion, and 0.08 Moz of gold and 0.77 Moz of
silver in the open pit.
On March 28, 2018, the
Company commenced the permitting process for the Martha
Project.
The Martha Project comprises two mining areas below the
current Martha Pit, including Phase 4 of the Martha Open Pit and
the Martha Underground Mine. Phase 4 of the Martha Open Pit
contains approximately 77,000 ounces of gold in P&P Reserves
located beneath the current open pit.
In 2016, a maiden Resource associated with the Martha
Project of approximately 158,000 ounces was declared. Further work
has been undertaken on this project in 2017, and currently, the
expectation is an exploration target of between 500,000 ounces and
700,000 ounces of gold from the Martha Underground, with tonnages
ranging between 2.5 million tonnes and 5.0 million tonnes and
grades ranging between 5.00 g/t and 7.00 g/t of gold. This
exploration target is conceptual in nature and exploration
completed on this target to date is not sufficient to define an
additional Mineral Resource above that previously publicly
reported. The Martha Project is a significant component of the
targeted 10-year mine life extension for
the operation. Drilling of the Resource associated with the
historic Martha Underground Mine has been underway since
August 2017 with many significant and
encouraging drill results received. To date, approximately 45 drill
holes for a total of 13,600 meters have been completed. Over the
course of the next 2 years the Company will continue to drill from
two exploration drives beneath the Martha Open Pit for Resource
conversion. The Company expects to drill more than 100 kilometres
of additional drilling to test the full extent of the mineralised
system.
Macraes
Macraes M&I Resource, including Reserves, stood at
3.60 Moz of gold, consisting of 2.76 Moz in the open pit and 0.84
Moz in Frasers Underground. Additions to M&I Resources were
primarily related to Coronation North, Deepdell and Golden Point. Inferred Resources stood at 0.8
Moz of gold, reflecting the conversion of Inferred Resources to
M&I Resources and an updated Resource estimate.
Macraes P&P Reserves totalled 1.08 Moz of gold in the
open pit and 0.12 Moz of gold in the underground. Total Reserves
are effectively unchanged at 1.2 Moz, however there is a greater
proportion of Probable Reserves than reported in December 2016. Mine depletion has been offset
during the year through resource drilling and resource estimate
updates for both open pit and underground mines.
Reefton
In December 2016, the
Company announced the closure of the Reefton Mine and, as a result,
associated Resources have been removed from the Company's
inventory.
Resources for the nearby Blackwater project remain on the
Company's inventory.
United
States
Haile M&I Resources, including Reserves, stood at 3.32
Moz of gold, with an Inferred Resource of 0.6 Moz gold, inclusive
of the Horseshoe Underground M&I Resource containing 0.49 Moz
of gold and an Inferred Resource of 0.2 Moz of gold.
Open pit Reserves have increased 36% from the previous
2016 estimate of 2.02 Moz and include a maiden Reserve of 0.44 Moz
for the Horseshoe Underground which was announced 26 June 2017.
P&P Reserves totalled 3.18 Moz of gold, including 2.74
Moz of gold in the optimised open pit and 0.44 Moz of gold in the
Horseshoe Underground. Since the Optimisation Study, Reserves have
been adjusted down slightly by approximately 140,000 ounces of
gold, reflecting revised geological interpretation and modelling,
following further resource drilling and production in the Mill Zone
Open Pit. This improved geological understanding has also refined
targeting concepts that are being applied to the discovery of
additional mineralisation in and around the enlarged open pit and
underground mine plans.
Philippines
At Didipio, M&I Resources, including Reserves, were
1.39 Moz of gold, 2.88 Moz of silver and 0.17 Mt of copper.
Inferred Resources were 0.3 Moz of gold, 0.3 Moz of silver and 0.03
Mt of copper.
Didipio P&P Reserves stood at 1.26 Moz of gold, 2.47
Moz of silver and 0.15 Mt of copper. Of this total
inventory, the P&P Reserves associated with the underground
mine comprise 0.96 Moz gold, 1.01 Moz of silver and 0.07 Mt of
copper. During 2017, all in-situ open pit Reserves were depleted,
and as such, the currently reported open pit Reserve relates to
stockpiled material.
Other
OceanaGold's interest in the Sam's Creek project in
New Zealand remains unchanged at
20%.
As part of the requirements under the listing rules of the
Australian Stock Exchange, the Company has filed a separate
document containing the material summaries and JORC table 1
information related to the resource and reserves for the Waihi Gold
operation. The Waihi Material Summary and JORC table 1 documents
can also be found on the Company's website at
http://www.oceanagold.com/investor-centre/filings/.
About OceanaGold
OceanaGold Corporation is a mid-tier, high-margin,
multinational gold producer with assets located in the Philippines, New
Zealand and the United
States. The Company's assets encompass the Didipio
Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of
New Zealand, the Company operates
the high-grade Waihi Gold Mine while on the South Island of
New Zealand, the Company operates
the largest gold mine in the country at the Macraes Goldfield which
is made up of a series of open pit mines and the Frasers
underground mine. In the United
States, the Company operates the Haile Gold Mine, a
top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a
significant pipeline of organic growth and exploration
opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably over the past 27 years
with a proven track-record for environmental management and
community and social engagement. The Company has a strong social
license to operate and works collaboratively with its valued
stakeholders to identify and invest in social programs that are
designed to build capacity and not dependency.
In 2018, the Company expects to produce 480,000 to 530,000
ounces of gold and 15,000 to 16,000 tonnes of copper with All-In
Sustaining Costs that range from $725
to $775 per ounce sold.
Technical Disclosure
All Mineral Reserves and Mineral Resources were calculated
as at December 31, 2017 and have been
calculated and prepared in accordance with the standards set out in
the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves dated December
2012 (the "JORC Code") and in accordance with National
Instrument 43-101 of the Canadian Securities Administrators ("NI
43-101"). The JORC Code is the accepted reporting standard for the
Australian Stock Exchange Limited ("ASX").
The updates of Mineral Resources for Macraes and
Blackwater have been verified and approved by, or are based upon
prepared by or under the supervision of S. Doyle. The updates of
the Mineral Resources for Waihi have been verified and approved by,
are based upon information prepared by or under the supervision of
P. Church. The updates of Mineral Resources for Didipio have been
verified and approved by, or are based upon information prepared by
or under the supervision of J. G. Moore. The updates of Mineral
Reserves for Macraes have been verified and approved by, or are
based upon information prepared by, or under the supervision of, P.
Doelman for open pit and T. Maton for the underground. The Mineral
Reserves for Waihi have been verified and approved by, or are based
upon information prepared by or under the supervision of T. Maton
for open pit and D. Townsend for
underground. The Mineral Reserves for Didipio have been verified
and approved by, or are based upon information prepared by or under
the supervision of C. Fawcett. The
Mineral Reserves and Resources for the Haile Gold Mine have been
verified and approved by, or are based upon information prepared by
or under the supervision of B. van Brunt.
Messrs Church, Doyle, Doelman, Maton, Moore and
Townsend are full-time employees
of the Company's subsidiary, Oceana
Gold (New Zealand) Limited.
Mr Fawcett is also a full-time
employee of the Company's subsidiary, OceanaGold (Philippines) Inc. Mr van Brunt is a full-time employee of Haile Gold
Mine Inc, the Company's subsidiary.
Messrs Church, Doelman, Doyle, Fawcett, Maton, Moore and Townsend are Members and Chartered
Professionals with the Australasian Institute of Mining. Mr
Van Brunt is a Fellow of the
AusIMM.
All such persons are "qualified persons" for the purposes
of NI 43-101 and have sufficient experience relevant to the style
of mineralisation and type of deposit under consideration and to
the activity which they are undertaking to qualify as a "competent
person" as defined in the JORC Code.
Messrs Church, Doelman, Doyle, Fawcett, Maton, Moore, van Brunt and
Townsend consent to inclusion in
this public release of the matters based on their information in
the form and context in which it appears. The estimates of Mineral
Resources and Reserves contained in this public release are based
on, and fairly represent, information and supporting documentation
prepared by the named qualified and competent persons in the form
and context in which it appears.
For further scientific and technical information
supporting the disclosure in this media release (including
disclosure regarding Mineral Resources and Mineral Reserves, data
verification, key assumptions, parameters, and methods used to
estimate the Mineral Resources and Mineral Reserves, and risk and
other factors) relating to the Didipio Gold-Copper Mine, the
Macraes Mine, the Haile Gold Mine the Waihi Gold Mine and the
Blackwater project, please refer to the following NI 43-101
compliant technical reports and the Blackwater Preliminary Economic
Assessment released on 21 October
2014 available at www.sedar.com under the Company's
name:
(a) "Technical Report for
the Macraes Project located in the Province of Otago, New Zealand" dated February 12, 2010, prepared by R. Redden,
Development and Technical Services Manager, and J.G. Moore, Group
Mine Geology Manager, both of Oceana
Gold (New Zealand)
Limited;
(b) "Technical Report for the
Reefton Project located in the Province of Westland, New Zealand" dated May
24, 2013, prepared by K. Madambi, Technical Services Manager
of Oceana Gold (New Zealand) Limited up until January 2018 and J. G. Moore, Chief Geologist, of
Oceana Gold (New Zealand) Limited;
(c) "Technical Report for
the Didipio Gold / Copper Operation Luzon Island" dated October 29,
2014, prepared by Simon Griffiths, General Manager of Studies, of
Oceana Gold (New Zealand) Limited up until March 2017, J. G. Moore,
Chief Geologist, of Oceana Gold (New Zealand) Limited, and Michael
Holmes, Chief Operating Officer of OceanaGold
Corporation;
(d) "Technical Report for the
Waihi Gold Mine, New Zealand"
dated November 23, 2015, prepared by
T. Maton, Study Manager, D.
Bertoldi, Processing Manager and P. Church, Principal
Resource Development Geologist, all of Oceana Gold (New
Zealand) Limited; and
(e) "Technical Report Haile Gold
Mine Lancaster County, South
Carolina" dated August 9,
2017, prepared by, David
Carr, Bruce Van Brunt,
John Jory, Paul Howe, Joanna
Poeck, Jeff Osborn,
Jay Newton Janney-Moore,
John Tinucci, Bret C. Swanson, Derek
Kinakin, Grant Malensek,
David Bird, Bart A. Stryhas, Brian
S. Prosser.
Cautionary Note Regarding Mineral Resources and Mineral
Reserves
The Company's disclosure of Mineral Reserve and Mineral
Resource information is governed by NI 43-101 under the guidelines
set out in the Canadian Institute of Mining, Metallurgy and
Petroleum (the "CIM") Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Council, as may be amended from time
to time by the CIM ("CIM Standards"). The disclosure of Mineral
Reserve and Mineral Resource information for properties held by the
Company is based on the reporting requirements of the JORC Code.
CIM definitions of the terms "Mineral Reserve", "Proven Mineral
Reserve", "Probable Mineral Reserve", "Mineral Resource", "Measured
Mineral Resource", "Indicated Mineral Resource" and "Inferred
Mineral Resource", are substantially similar to the JORC Code
corresponding definitions of the terms "ore reserve", "proved ore
reserve", "probable ore reserve", "Mineral Resource", "Measured
Mineral Resource", "Indicated Mineral Resource" and "Inferred
Mineral Resource", respectively. Estimates of Mineral Resources and
Mineral Reserves prepared in accordance with the JORC Code would
not be materially different if prepared in accordance with the CIM
definitions applicable under NI 43-101.
There can be no assurance that those portions of such
Mineral Resources that are not Mineral Reserves will ultimately be
converted into Mineral Reserves. Mineral Resources are not Mineral
Reserves and do not have demonstrated economic viability. All
Mineral Reserves are within the Mineral Resource.
Forward Looking Statement
This media release contains forward-looking statements.
All statements, other than of historical fact, that address
activities, events or developments that the Company believes,
expects or anticipates will or may occur in the future (including,
without limitation, statements regarding expected, estimated or
planned gold production, all-in sustaining costs and other cost
estimates, capital expenditures and exploration expenditures and
statements regarding the estimation of mineral resources and
mineral reserves, exploration results, life-of-mine estimates and
potential mineral resources and mineral reserves) are
forward-looking statements. Forward-looking statements are
generally identifiable by use of the words "may", "will", "should",
"continue", "expect", "anticipate", "estimate", "believe", "highly
prospective", "intend", "plan" or "project" or the negative of
these words or other variations on these words or comparable
terminology. Forward-looking statements are subject to a number of
risks and uncertainties, many of which are beyond the Company's
ability to control or predict, that may cause the actual results of
the Company to differ materially from those discussed in the
forward-looking statements. Factors that could cause actual results
or events to differ materially from current expectations include,
among other things, without limitation, failure to meet expected,
estimated or planned gold production, unexpected increases in
all-in sustaining costs or other costs, unexpected increases in
capital expenditures and exploration expenditures, variation in the
mineral content within the material identified as mineral resources
and mineral reserves from that predicted, changes in development or
mining plans due to changes in logistical, technical or other
factors, the possibility that future exploration results will not
be consistent with the Company's expectations, changes in world
gold markets and other risks disclosed in the Company's most recent
Annual Information Form on file with the Canadian and Australian
securities regulatory authorities. There are no assurances the
Company can fulfil forward-looking 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. Although the Company believes that any
forward-looking statements and information contained in this press
release is based on reasonable assumptions, readers cannot be
assured that actual outcomes or results will be consistent with
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements and information. Any
forward-looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws,
the Company disclaims any intent or obligation to update any
forward-looking statement.
SOURCE OceanaGold Corporation