OceanaGold Corporation is pleased to announce drill results from the Didipio Gold-Copper deposit as well as provide an exploration update from the Company's Philippines exploration program.
Didipio Gold-Copper deposit
Over the last nine months, an infill drilling program has been conducted at Didipio to improve the understanding of the high-grade gold-copper core located in the northern area of the deposit. The Didipio deposit currently contains an NI 43-101 compliant reserve of 32.98 Mt at 1.48 g/t Au & 0.58% Cu, making it one of the highest grade gold-copper porphyrys in the world. The deposit remains open at depth and based on current proven and probable reserves, has a 15 year mine life.
Drill results in Appendix 1 show a number of promising intervals that have further improved geologic understanding of the deposit and increased the confidence within the high-grade gold-copper core.
DDH0202 (Diagram A) reported 267 metres (145.4m true width) of 2.42 g/t Au & 0.39% Cu and included 50 metres (32.1m true width) of 7.58 g/t Au & 0.73% Cu. This interval began at a depth of 212 metres from surface and it pierced the centre of the high grade zone.
Approximately 100 metres south of DDH0202; holes DDH0205 and DDH0206 (Diagram B) were targeting the southern edge of the high grade gold-copper core. DDH0205 reported 265 metres (107.8m true width) of 1.24 g/t Au and 0.47% Cu. Results from this hole have helped to improve the understanding of the transition between the high grade core into lower grade material. DDH0206 reported 330 metres (91.0m true width) of 1.96 g/t Au & 0.57% Cu and included a 26 metre interval (7.2m true width) of 10.40 g/t Au & 2.19% Cu. This hole has been successful in extending the high grade core both down-dip and further to the south.
This drill program is scheduled to be completed by the end of the first quarter 2008. -- www.cnxmarketlink.com
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