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OceanaGold awarded two Otago and two West Coast permits
27 March 2007 - Gold miner OceanaGold (New Zealand) Ltd has recently been awarded four new exploration permits — two at Macraes in eastern Otago and two near Reefton on the West Coast.
The two new Otago permits cover ground previously held by OceanaGold to the southeast and northwest of its Macraes gold mine, providing a contiguous permit holding approximately 40 km long and up to 10 km wide. This area includes the Macraes mining permits which occupy over a quarter of the area.
At the southeastern end of this permitted zone, one of the new permits EP 40822 stretches to half a kilometre from the No. 1 highway near Palmerston. At the northwestern end the other new acreage EP 40842 has a boundary on the eastern banks of the Taieri River, just across the river from the township of Hyde.
The eastern permit EP 40822 covering 3970 hectares is in two separate blocks which lie north and south of the company's EP 40472 held since 2001. The southern part extends close to the Palmerston-Ranfurly highway. The permit work programme includes a minimum of 1000 metres of drilling within the first three years.
The permit at the Hyde end EP 40842 covers 3369 hectares and the work programme includes a minimum of 1000m of reconnaissance drilling in the first two years plus the starting of an infill drill programme in the third year.
One of OceanaGold's new West Coast exploration permits is near Reefton to the north of its recently opened Globe Progress mine. The 114 hectare EP 40856 lies on the western side on the Inangahua River immediately across from the village of Blacks Point outside of Reefton. The permit work programme includes a minimum of 500m drilling in the first three years.
The second new West Coast exploration permit is approximately 25km south west of Reefton near the historical Alexander group of mines. The 1134 hectare EP 40848 surrounds on three sides another OceanaGold exploration permit which the company has held since 1998, the 391 hectare EP 40334. The work programme for the new permit requires a minimum of 500 metres of reconnaissance drilling within three years.
Source: OceanaGold.
At the southeastern end of this permitted zone, one of the new permits EP 40822 stretches to half a kilometre from the No. 1 highway near Palmerston. At the northwestern end the other new acreage EP 40842 has a boundary on the eastern banks of the Taieri River, just across the river from the township of Hyde.
The eastern permit EP 40822 covering 3970 hectares is in two separate blocks which lie north and south of the company's EP 40472 held since 2001. The southern part extends close to the Palmerston-Ranfurly highway. The permit work programme includes a minimum of 1000 metres of drilling within the first three years.
The permit at the Hyde end EP 40842 covers 3369 hectares and the work programme includes a minimum of 1000m of reconnaissance drilling in the first two years plus the starting of an infill drill programme in the third year.
One of OceanaGold's new West Coast exploration permits is near Reefton to the north of its recently opened Globe Progress mine. The 114 hectare EP 40856 lies on the western side on the Inangahua River immediately across from the village of Blacks Point outside of Reefton. The permit work programme includes a minimum of 500m drilling in the first three years.
The second new West Coast exploration permit is approximately 25km south west of Reefton near the historical Alexander group of mines. The 1134 hectare EP 40848 surrounds on three sides another OceanaGold exploration permit which the company has held since 1998, the 391 hectare EP 40334. The work programme for the new permit requires a minimum of 500 metres of reconnaissance drilling within three years.
Source: OceanaGold.
