OceanaGold Continues to Delineate Top-Grade Mineralization within the Haile Underground

VANCOUVER, BC, 9-11, 2024 /PRNewswire/ – OceanaGold Company (TSX: OGC) (OTCQX: OCANF) (“OceanaGold” or the “Company”) is happy to grant effects from exploration and useful resource conversion drilling on the Haile Gold Mine (“Haile”) in the USA.

Gerard Bond, President & CEO of OceanaGold, mentioned “Today’s outstanding resource conversion and definition drill results support our goal of delineating 2 million ounces underground at Haile by the end of this year. Infill drill results at Ledbetter Phase 4 are exceptional in width and grade and inform the work evaluating whether to mine the last phase of Ledbetter from underground. Additionally, new resource conversion results announced today improve our confidence in Horseshoe mineralization at depth, and results from Horseshoe Extension have intersected new mineralization proximal to existing infrastructure.”

Drill highlights come with (core field):

• 82.0 m @ 35.07 g/t Au Ledbetter Section 4 (DDH1218 – conversion)
• 4.6 m @ 398.12 g/t Au, Ledbetter Section 4 (DDH1228 – conversion)
• 71.0 m @ 16.80 g/t Au Ledbetter Section 4 (DDH1220 – conversion)
• 45.3 m @ 21.29 g/t Au, Ledbetter Section 4 (DDH1226 – conversion)
• 29.0 m @ 33.11 g/t Au, Ledbetter Section 4 (DDH1230 – conversion)
• 54.4 m @ 14.82 g/t Au, Ledbetter Section 4 (DDH1237 – conversion)
• 42.7 m @ 15.55 g/t Au, Ledbetter Section 4 (DDH1246 – conversion)
• 48.5 m @ 8.30 g/t Au, Ledbetter Section 4 (DDH1232 – conversion)
• 40.5 m @ 13.30 g/t Au, Horseshoe (UGD0029 – conversion)
• 16.6 m @ 9.00 g/t Au and 8.4 m @ 5.06 g/t Au, Horseshoe (UGD0030 – conversion)
• 11.6 m @ 4.05 g/t Au, Horseshoe Extension (UGD0055 – definition)

Effects introduced nowadays can also be seen in three-D the usage of VRIFY at please see hyperlink¹: https://vrify.com/meetings/recordings/f7d13714-449f-4cd1-a6c0-935c31100911 

Ledbetter Section 4

Ledbetter Section 4 mineralization sits throughout the clear pit accumulation (Determine 1) and is recently within the mine plan as the general Ledbetter clear pit segment. With a higher-grade useful resource at Ledbetter Section 4 doubtlessly adequate to backup an underground mine with progressed economics, trade-off find out about paintings is underway to verify the presen most popular mining possibility. To backup this find out about paintings, a useful resource conversion drill program is underway to strengthen self belief and grant drill core for metallurgical checking out (Determine 1). A complete of 9,053 metres and 24 holes were finished, with highlights together with 82.0 m @ 35.07 g/t Au from DDH1218, 4.6 m @ 398.12 g/t Au from DDH1228, and 71.0 m @ 16.80 g/t Au from DDH1220. Those drill effects have exceeded expectancies in comparison to earlier drilling results.

An alternative ~2,850 metres and 5 holes are being drilled within the too much months of 2024 to check mineralization, roughly 50 to 250 metres to the northwest of the flow Ledbetter Section 4 useful resource (Determine 1).

Horseshoe and Horseshoe Extension (HEX)

Useful resource conversion and definition drilling undertaken from the Horseshoe Underground mine continues with 6,956 metres finished of a deliberate 10,605 metres this time. The consequences from 15 brandnew drill holes were won, with 3 holes supporting useful resource conversion of Inferred sources and 12 holes supporting useful resource definition of the HEX goal. HEX isn’t recently a useful resource, then again drilling is ongoing to check its doable as it’s adjoining to the flow Horseshoe Underground mine and inside 150 metres of the deliberate lessen to get entry to Palomino Underground.

The original drilling of Horseshoe has focused Inferred sources within the decrease zone with 3 holes all intersecting mineralization and turning in leads to order with expectancies according to the useful resource style. Highlights from Horseshoe come with 40.5 m @ 13.30 g/t Au together with 9.7 m @ 46.79 g/t Au (UGD0029) and 16.6 m @ 9.00 g/t Au (UGD0030) and 21.1 m @ 2.74 g/t Au (UGD0027).

Following the numerous drill effects reported in our April 3, 2024 press reduce, the original drilling at HEX has focused 3 zones of mineralization: higher, center, and decrease HEX. Drilling has (i) additional outlined endurance within the higher zone with 3 holes (UGD0046, 52, 54), (ii) outlined endurance of the center zone with 4 holes (UGD0053, 55, 56, 57), and (iii) stepped out at the decrease mineralized zone to check extensions with 5 holes (UGD0037, 48, 49, 50, 51). Considerably, hollow UGD0050 has intercepted mineralization of 24.2 m @ 2.47 g/t Au ~30 metres underneath the recently outlined decrease zone of mineralization (Determine 2). As well as, vital effects have been returned from UGD0046 with 13.7 m @ 3.42 g/t Au within the higher zone, and from UGD0055 with 11.6 m @ 4.05 g/t and UGD0056 with 27.2 m @ 1.45 g/t Au from the center zone.

Drilling is ongoing at HEX for the residue of 2024 with the function to outline an preliminary useful resource estimate in Q1 2025.   

Desk 1: Haile drill intersections.

Observe: Intervals are core field, now not true width. “Conversion” intercept is throughout the flow useful resource style shell directed at changing Inferred to Indicated useful resource section, era “Definition” are intercepts outdoor the flow useful resource style shell directed at changing mineralization to an Inferred useful resource section. NSR = Disagree Important Outcome.

For additional data when it comes to drill hollow knowledge please please see the Corporate’s site at https://investors.oceanagold.com/additional-drillhole-data.

About OceanaGold

OceanaGold is a rising intermediate gold and copper manufacturer dedicated to soundly and responsibly maximizing the hour of Distant Money Stream from our operations and turning in robust returns for our shareholders. We’ve got a portfolio of 4 working mines: the Haile Gold Mine in the USA of The usa; Didipio Mine in the Philippines; and the Macraes and Waihi operations in Untouched Zealand.

Certified Individual Commentary

The clinical and technical data contained on this press reduce has been reviewed and licensed by way of Craig Feebrey, a Member of the Australasian Institute of Mining and Metallurgy and a certified individual underneath Nationwide Device 43-101 – Requirements of Disclosure for Mineral Initiatives of the Canadian Securities Directors (“NI 43-101”). Mr. Feebrey is the Government Vice President and Eminent Exploration Officer of OceanaGold. 

QA/QC at Haile Gold Mine

From July 2017 to 2022 virtually all Haile exploration core samples were ready on the ALS lab in Tucson, Arizona, and analyzed on the ALS lab in Reno, Nevada, each and every of which is distant from OceanaGold. Choose useful resource conversion core samples have been additionally ready and analyzed on the SGS lab in Kershaw, South Carolina, which may be distant from OceanaGold, with affirmation pulp duplicates despatched to ALS lab in Reno, Nevada. Samples are pulverized from a 250g (ALS) or 450g (SGS) pattern to 85% passing 75 mesh. Roughly 225g of pulp pattern is old for fireplace assay. Assays are according to a 30g fireplace assay aliquot for gold with Atomic Absorption end. If the gold price from Atomic Absorption is >10g/t, an alternative 30g of pulp pattern is fireplace assayed for gold the usage of a gravimetric end. Some holes are composited and analyzed for carbon, sulphur and multi-elements the usage of LECO and ICP-OES forms. Each ALS and SGS labs old for Haile OceanaGold samples are ISO 17025 qualified. In 2023, choose useful resource conversion core samples have been ready and analyzed on the SGS lab in Kershaw, South Carolina, with affirmation pulp duplicates despatched to ALS lab in Reno, Nevada.

Blanks and requirements are each and every inserted each and every twentieth pattern.. Precision and accuracy of qualified reference fabrics (“CRMs”) in comparison to anticipated values were constantly inside 5% RSD and ceaselessly inside 3%. Barren marble and sand are inserted as blanks each and every twentieth pattern. CRMs from RockLabs are inserted each and every twentieth pattern (5%). CRMs from RockLabs and OREAS are inserted each and every twentieth pattern (5%). All blanks and CRMs are treated by way of the Geology Workforce and are saved within the locked OceanaGold administrative center.

All drill hollow samples are treated and transported from the drill rigs to the fix Haile Exploration vault by way of OceanaGold workforce. Get entry to to the constituent is managed by way of locked doorways and cameras monitored by way of OceanaGold safety. The primary gate calls for an digital worker badge to go into. Samples are packaged on the Haile Exploration vault by way of OceanaGold geologists and geotechnicians. Samples are trucked in sealed plastic barrels by way of qualified couriers with submittal modes which are verified all through pattern pick-up and supply to ALS. Disagree pattern shipments were recorded as lacking or tampered with.

Technical Record

For additional data, please please see please see NI 43-101 technical record to be had at the SEDAR+ site at www.sedarplus.com underneath the Corporate’s profile or on our site at www.oceanagold.com: “NI 43-101 Technical Report Haile Gold Mine Lancaster County, South Carolina” dated March 28, 2024 with an efficient future of December 31, 2023, ready by way of D. Carr, D, Londoño, J. Moore and B. Drury (OceanaGold); L. Standridge and R. Cook dinner (Name & Nicholas, Inc.); J.N. Janney-Moore and W.L. Kingston (NewFields Mining & Technical Products and services LLC); and M. Sullivan and B. Miller Clarkson (SRK Consulting (U.S.), Inc.).

Cautionary Commentary for Folk Let fall

This press reduce incorporates positive “forward-looking statements” and “forward-looking information” (jointly, “forward-looking statements”) throughout the that means of acceptable Canadian securities rules which might come with, however isn’t restricted to, statements with appreciate to the estimation of Mineral Reserves and Mineral Assets, the belief of Mineral Stock and Mineral Useful resource estimates, prices and timing of the improvement of brandnew deposits, prices and timing of presen exploration and drilling systems and timing of submitting of up to date technical data. Ahead-looking statements and data relate to presen efficiency and mirror the Corporate’s expectancies in regards to the hour of independent money current, execution of industrial technique, presen enlargement, presen manufacturing, estimated prices, result of operations, trade possibilities and alternatives of OceanaGold and its similar subsidiaries. Any statements that categorical or contain discussions with appreciate to predictions, expectancies, ideals, plans, projections, goals, suppositions or presen occasions or efficiency (ceaselessly, however now not all the time, the usage of phrases or words equivalent to “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or pointing out that positive movements, occasions or effects “may”, “could”, “would”, “might” or “will” be taken, happen or be completed) aren’t statements of ancient reality and is also forward-looking statements. Ahead-looking statements are matter to a number of dangers and uncertainties which might purpose untouched occasions or effects to vary materially from the ones expressed within the forward-looking statements and data. They come with, amongst others, the accuracy of Mineral Stock and Mineral Useful resource estimates and similar suppositions, inherent working dangers and the ones possibility elements known within the Corporate’s most up-to-date Annual Knowledge Mode ready and filed with securities regulators which is to be had on SEDAR+ at www.sedarplus.com underneath the Corporate’s title. There aren’t any pledges the Corporate can fulfil forward-looking statements. Such forward-looking statements are most effective predictions according to flow data to be had to control as of the future that such predictions are made; untouched occasions or effects might vary materially because of dangers going through the Corporate, a few of which can be past the Corporate’s keep an eye on.  Even supposing the Corporate believes that any forward-looking statements contained on this press reduce is according to affordable suppositions, readers can’t be confident that untouched results or effects will probably be in step with such statements. Accordingly, readers will have to now not playground undue reliance on forward-looking statements. The Corporate expressly disclaims any goal or legal responsibility to replace or revise any forward-looking statements, whether or not because of brandnew data, occasions or differently, aside from as required by way of acceptable securities rules.   

www.oceanagold.com

SOURCE OceanaGold Company

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Virtual Media
Shops

270k+
Newshounds
Opted In