Document Actions
OceanaGold finds more gold east and under Frasers Underground
29 July 2010 - Extended exploration eastward down dip from the Frasers Underground gold mine at Macraes by OceanaGold has located more gold, including a potential new sub-parallel structure below the hangingwall shear.
Sources: OceanaGold and Lindsay Clark
The new lower structure is similar to the Deeps mineralisation under the south side of Panel 2 where OceanaGold reports that new infill drilling has found significant gold grades and ore thicknesses.
All diamond drill holes completed to date, up to 250 metres east of the current mine design have successfully intercepted the main mineralised hangingwall shear structure.
The hangingwall at the top of the gold deposit is where the Frasers underground mine has focused its exploration due to the presence of a geologically continuous mineralised zone that has consistently higher grades of ore.
The hangingwall shear intercepts (estimated true widths) including 5.0 m @ 5.55 g/t; 5.0 m @ 3.17 g/t Au; 11.0 m @ 2.72 g/t Au; 6.0 m @ 2.71 g/t Au and 5.5 m @ 2.96 g/t demonstrate grades and lode thicknesses similar to the current panel 2 mining area.
The significant intercepts (estimated true widths) in the potential new sub-parallel structure below the hangingwall shear were: 4.0 m @ 4.87 g/t Au; 6.0m @ 4.90 g/t Au; 6.0m @ 5.08 g/t Au; 6.0m @ 3.00 g/t Au and 3.5m @ 7.98 g/t Au.
Significant intercepts 10-20 metres beneath the hangingwall were also recorded in a number of holes. OceanaGold said the lower intercepts were the first indication of a new possible area of mineralisation and may represent one or more sub-parallel lodes similar to the panel 2 Deeps discovery announced this year.
The Deeps area is at the south of panel 2 and mineralisation is open to the south and southeast.
Diamond drilling from the underground exploration drive continues to infill gaps in the known mineral resources. It is also testing for extensions to the north, south and southeast.
OceanaGold earlier reported it had found significant gold grades and ore thicknesses from new infill drilling in the panel 2 Deeps area.
The infill drilling included a 20 metres thick intersection with grade of 3.73 g/t Au and 9 metres of 3.39 g/t Au.
OceanaGold’s chief executive officer Paul Bibby said that the Deeps resource, first found last year under part of the mine, has the potential to give an additional 1.5 years of underground mine life..
A follow-up drilling programme for new infill Deeps is underway, focusing on further expanding the Deeps resource.
More news - NZ Mineral resources - 2010 Petroleum Conference
