OceanaGold makes new gold discovery at Wharekirauponga prospect in NZ

Image Credit: OceanaGold

Exploration company OceanaGold Corporation (ASX:OGC) has intersected six additional high-grade gold and silver at its Wharekirauponga (WKP) prospect in the Waihi District, New Zealand.

On the recent discovery, OceanGold’s President and CEO Michael Holmes commented: “The drill results at WKP continue to demonstrate the significance of this discovery for OceanaGold, our shareholders and for New Zealand.”

According to Holmes, drilling along the East Graben Vein – the zone where the new intersects were found  – returned only three major mineralised structures in prior drilling efforts.

With the new gold and silver prospects, OceanaGold is looking forward to scaling up operations through extensive drilling with two drill rigs, balanced between infill drilling of the East Graben vein zone and testing extensions of the East Graben vein, including nearby major structures at WKP.

Holmes continued that the next mineral Resource update in mid-2021 will include results from the 2020 campaign.

Hoping to advance Waihi District opportunities, Holmes said that the company is finalising a consent application for underground access to WKP.

“The consenting process remains the critical path for success and we continue to work with all the stakeholders as we advance the Waihi District to production in concert with our values as a responsible mining company.”

Holmes believes that exploration advancements in Waihi District will boost the local economy by creating 300 new jobs for country-side workers, and help it weather through post-pandemic economic stresses.

“The Waihi District represents the potential for significant socio-economic contributions for the rural communities in the Coromandel region and for New Zealand,” Holmes said.