OceanaGold Corporation is pleased to announce further results from an underground diamond drilling program at the Frasers underground mine in Otago, New Zealand.
Another great release from Oceana today, they identify extensions of the gold mineralisation at depth and down dip from the current mine workings in Panel 2 (pressrelease July 12). Ongoing drilling may show that mineralisation is extending to the north, south, and south-east.
• Hangingwall Shear intercepts (estimated true widths) including 5.0m @ 5.55g/t (UDH6036), 5.0m @ 3.17g/t Au (UDH6025), 11.0m @ 2.72 g/t Au (UDH6026), 6.0m @ 2.71 g/t Au (UDH6024) and 5.5m @ 2.96g/t (UDH6035) demonstrate grades and lode thicknesses similar to the current Panel 2 mining area.
• Significant intercepts (estimated true widths) below the Hangingwall Shear of 4.0m @ 4.87 g/t Au (UDH6013), 6.0m @ 4.90 g/t Au (UDH6021), 6.0m @ 5.08 g/t Au (UDH6031), 6.0m @ 3.00 g/t Au (UDH6032) and 3.5m @ 7.98 g/t Au (UDH6022) indicate potential for a new sub parallel structure similar to the P2 Deeps mineralisation under Panel 2C.
N.B. The Hangingwall Shear refers to the geologically continuous mineralised zone immediately below the over-laying waste sequence. In the underground operation this is the principally targeted zone for mining due to its higher and more consistent gold grades.
“This is the first indication of a new possible area of mineralisation and these intercepts may represent one or more sub-parallel lodes similar to the Panel 2 Deeps discovery announced last year,” said vice-president Darren Klinck.
Team O B Research
For full pressrelease, see pdf