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Oceanagold drills 21.3 m of 21.66 g/t Au at Haile
2016-02-29 06:21 ET - News Release
Mr. Mick Wilkes reports
OCEANAGOLD PROVIDES UPDATE ON THE HAILE PROJECT AND EXPLORATION PROGRAMS AT HAILE AND WAIHI
Oceanagold Corp. is providing an update on the construction of the top-tier Haile gold mine in the United States, and has released exploration results at Haile and at the Waihi mine located in New Zealand.
Key Highlights
- Enhanced the design of the Haile Project to deliver a more robust operation. -Haile Project capital cost estimated at $380 million with $160 million spent to date. -Construction activities at Haile on schedule for first ore through the mill by the end of 2016. -Drill results from the Horseshoe deposit at Haile confirm high-grade mineralisation and include; (DDH-519) 21.3 metres @ 21.66 g/t and 23.5 meters @ 6.55 g/t; (DDH-518) 13.3 meters @ 10.57 g/t and 13.0 meters @ 5.47 g/t; (DDH-517) 40.9 meters @ 4.71 g/t; (DDH-516) 3.6 meters @ 5.95 g/t and (DDH-514) 9.3 meters @ 5.22 g/t. -Drill results at Waihi continue to demonstrate significant resource expansion opportunities from high-grade underground targets including Correnso Deeps, Empire and Daybreak. - Recent significant intersections at Waihi include 3.5 metres @ 9.83 g/t and 7.8 metres @ 6.25 g/t from Correnso Deeps, 7.1 metres @ 9.44 g/t and 3.5 metres @ 12.65 g/t from Daybreak, 2.5 metres @ 41.63 g/t and 4.3 metres @ 11.76 g/t from Empire and 6.0 metres @ 6.17 g/t including 1.2 metres @ 25.42 g/t from unmined extensions to the Royal vein.