OceanaGold discovers more gold down dip from Frasers underground mine

Source: OceanaGold and Lindsay Clark

OceanaGold announced it has identified extensions to gold mineralisation between 200 m and 800 m east of current underground mining operations at Panel 2.

Five holes from a diamond drilling programme targeted the mineralisation down dip along the hangingwall shear currently being mined in panel 1 and panel 2 at Frasers underground.

All of the holes successfully intercepted the main mineralised hangingwall shear structure.

Some grades and lode thickness were similar to or better than panel 2, OceanaGold said. One significant intercept included 13 m @ 6.78 g/t Au.

Another hole recorded 6 m @ 5.08 g/t Au with a second intercept of 11 m @ 2.72 g/t Au beneath the hangingwall lode.

Early indications from current underground diamond drilling on the eastern and northern fringes of the current panel 2 resource show that the mineralisation extends beyond the panel boundary.

Paul Bibby, CEO of OceanaGold, said the results from the Frasers drilling are very promising and an important first step to extending the life of the underground mine.

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