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NEWGENGOLD PREVIEW

Mineralisation at Wharekirauponga lies within sub-vertical quartz veins
WHAREKIRAUPONGA
up to 9m wide at depths of up to 450m below the surface. It is typical of
other high-grade gold epithermal deposits discovered and mined in the
Owner: OceanaGold Corp
Location: Waihi goldfield, North Island, NZ Hauraki region.
Reserves: N/A On announcing the 2020 drilling campaign results in January, then chief
Resources: 1mt @ 13.4 g/t for 400,000oz executive Michael Holmes said the discovery showed ample potential
(indicated); 1.9mt @ 12 g/t for and for expansion.
700,000oz (inferred) “Much of the drilling to date has focused on the East Graben vein,
Project status: PFS which represents nearly all the reported resources, and this vein is
only one of three currently identified major mineralised structures at
More than 100 years into operations and the Waihi goldfield on New Wharekirauponga,” he said. “Drilling along the East Graben vein zone
Zealand’s North Island is still delivering greenfields discoveries. has defined in excess of 1,000m strike that includes multiple, discrete,
The latest is Wharekirauponga which, 40 years after modern exploration high-grade gold-silver bearing hanging and footwall veins.
began, offered up its maiden resource in February 2019. “For 2021, our plan includes extensive drilling with two drill rigs,
The resource was announced by OceanaGold Corp which had balanced between infill drilling of the East Graben vein zone and testing
acquired the project from Newmont Gold Corp in 2016, incorporating extensions of the East Graben vein and nearby T-Stream and Western
it into its Waihi gold mine and ongoing exploration work in the region. veins, which are the other two major structures currently identified at
The high-grade resource of 1mt @ 13.4 g/t for 400,000oz (indicated) Wharekirauponga.”
and 1.9mt @ 12 g/t for and 700,000oz (inferred) came off the back of It is planned that Wharekirauponga will be included in OceanaGold’s
less than 35,000m of drilling and with another 10,000m planned for this expansion of Waihi. A 2020 concept study found that the deposit –
year, the company expects further increases. along with the in-development Martha underground mine – would add
Results from the 2021 programme include 48.9m @ 22.8 g/t, 3.1m @ significant mine life to Waihi. The study assumed Wharekirauponga to
169 g/t, 2.2m @ 45.6 g/t and 9m @ 41.4 g/t. come onstream from 2031 with a PFS expected to be delivered in 2022.

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