OceanaGold announces second round of drill results from Blackwater high-grade gold project

OceanaGold announces second round of drill results from Blackwater high-grade 
gold project 
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR 
DISTRIBUTION TO US NEWSWIRE SERVICES. 
MELBOURNE, Australia, Oct. 25, 2012 /CNW/ - OceanaGold Corporation (ASX: OGC, 
TSX: OGC, NZX: OGC) (the "Company") is pleased to announce the second round of 
results from a deep drilling program at the Blackwater (Birthday Reef) 
high-grade gold project located in the Reefton Goldfield in South Island, New 
Zealand. 
Highlights 


    --  During the third quarter, OceanaGold successfully intersected
        the Birthday Reef on two occasions approximately 680 metres
        vertically below previously mined workings of the historic
        Blackwater mine.
    --  Parent hole, WA22C, intersected 0.61 metres (estimated true
        width of 0.5 metres) @ 15.65 g/t Au.
    --  The daughter hole, WA22D, intersected 1.13 metres (estimated
        true width of 1.0 metres) @ 85.2 g/t Au. WA22D intercepted the
        reef 11 metres from the parent hole WA22C.
    --  Both results are within the normal range of historically mined
        widths and grades.
    --  Historically, each vertical metre of the reef corresponded with
        approximately 1,000 ounce gold resource.

Historical Mining Background (1906 to 1953)

The Blackwater mine was the largest historical producer in the Reefton 
Goldfield with approximately 740,000 ounces from 1.6Mt for a recovered grade 
of 14.6 g/t Au. This represents approximately one third of the historical two 
million ounces of gold produced from hard rock sources.

Birthday Reef Geometry and Nature of Gold Mineralisation

The Birthday Reef is a simple, relatively planar, steeply-dipping quartz vein 
striking NNE for approximately one kilometre. The lode is remarkably 
persistent both along strike, and down-plunge, with the average widths and 
grades remaining consistent with depth.

Drill Results

WA22C successfully intersected the Birthday Reef at 1,632.3 metres down-hole 
and returned an intercept of 0.61 metres down hole (estimated true width of 
0.5 metres) @ 15.65 g/t Au (Table A and Figure 2). The final hole depth was 
1,675.2 metres.

A daughter drill hole WA22D intersected the Birthday Reef at 1,623.9 metres 
down-hole and returned an intercept of 1.13 metres down hole (estimated true 
width 1.0 metres) @ 85.2 g/t Au (Table A and Figure 2). The final hole depth 
was 1,641.2 metres. The two intercepts in holes WA22C and WA22D are located 11 
metres apart along the Birthday Reef.

Historic mining records from the Birthday Reef reported an average of 14 
gram-meters mined up until it was closed in 1951. The average gram-meters of 
the modern drilling completed to date is within the range of historic records. 
WA22C and WA22D represent the fifth and sixth holes (including daughter holes) 
testing mineralisation below the extent of historic workings. Both holes 
successfully intersected the quartz reef approximately 950 metres down plunge 
and 680 metres vertically below the historic Blackwater mine workings. The 
result extends the known extent of the reef to ~1,390 metres below surface.

The next drill hole (WA24) is designed to test the northern strike extent to 
the Birthday Reef beneath the historical workings. This hole is now underway 
and results are expected in the second quarter of 2013.

Table A - Blackwater Mine Drill Intercepts
                                                                  


      From      To   Intercept True   Grade   Grade     Comment
Hole ID                            Width          width 
       (m)     (m)      (m)     (m)  (Au g/t) (g*m) 
WA11  979.6     980.3      0.7    0.5     24.5  12.3   Parent Hole 
 WA11A  980.3    981.0       0.7    0.5     59.7  29.9  Daughter Hole 
 WA21A  1,315.9 1,316.9      1.0    0.5     23.3  11.7  Daughter Hole 
 WA22C  1,632.3 1,632.91    0.61    0.5    15.65   7.8   Parent Hole 
 WA22D  1,623.9 1,625.03    1.13    1.0     85.2  85.2  Daughter Hole 
Note: Drill holes WA11, WA11A and WA21A have been previously reported. The 
true width of drill intercepts may vary slightly from those reported due to 
local variations in the orientation of the reef. 
Mick Wilkes, Managing Director and CEO commented, "We are very pleased with 
the continued success of the drilling program at Blackwater. To date, we have 
uncovered remarkable continuity in the Birthday Reef which gives us strong 
confidence of the continuation of the orebody below previously mined workings. 
Our project development team is now starting to assemble data in preparation 
for technical study work in the first half of 2013 while we also await results 
from the current hole testing the northern extent of the orebody." 
Project Location 
The historical Blackwater mine is situated in the Grey District of the west 
coast of the South Island of New Zealand approximately 37 kilometres south (by 
road) from Reefton and 60 kilometres northeast of Greymouth (Figure 3). The 
mine is located 15 kilometres from OceanaGold's Globe - Progress Mine at 
42°17'30"S latitude and 171°49'30"E near the abandoned mining township of 
Waiuta. 
Blackwater Study Update 
OceanaGold's project development team will commence a technical study on the 
viability of a narrow vein, underground operation at Blackwater in the first 
half of 2013. Previous metallurgical studies have highlighted optical sorting 
as a probable pre-treatment mechanism opening up the possibility of mechanised 
mining of this deposit. Additionally, previous metallurgical test work has 
indicated recoveries in the 95% range with 70% of the gold reporting to a 
gravity concentrate. 
With the results from the current drill program increasing the known extent of 
mineralisation, the project team will evaluate various mining scenarios with a 
view of targeting a production rate of circa 50,000 -60,000 ounces of gold per 
annum. This study is expected in the second half of 2013. 
Technical Disclosure 
Dr Michael Roache, (PhD) - Head of Exploration and Mr Jonathan Moore - Group 
Mine Geology Manager, all of OceanaGold, are responsible for the technical 
disclosure in this document, and are Qualified Persons under the Canadian 
Securities Administrators' National Instrument 43-101 - Standards of 
Disclosure of Mineral Projects ("NI 43-101"). Dr Roache is a member of both 
the AusIMM and Australasian Institute of Geoscientists, while Mr. Moore is a 
Chartered Professional with the AusIMM. The 2012 drill samples, were collected 
at geologically defined intervals from sawn NQ diamond core, and assayed by 
screen fire assay (method code Au-SCR22AA) at the Townsville ALS Laboratory, 
Australia. Two quartz flushes were inserted between each sample and also 
underwent screen fire analysis. Coarse blanks were also inserted after each 
mineralized quartz vein. 
For further scientific and technical information (including disclosure 
regarding mineral resources and mineral reserves) relating to the Reefton 
Project, please refer to the NI 43-101 compliant technical report entitled 
"Independent Technical Report for the Reefton Project located in the province 
of Westland, New Zealand" dated 9 May, 2007, prepared by McIntyre, White, 
Frew, Gossage, and Penter and available at www.sedar.com under the Company's 
name. 
See full article for images. 
About OceanaGold 
OceanaGold Corporation is a significant Asia Pacific gold producer with 
projects located on the South Island of New Zealand and in the Philippines. 
The Company's assets encompass New Zealand's largest gold mining operation at 
the Macraes goldfield in Otago which is made up of the Macraes Open Pit and 
the Frasers Underground mines. Additionally on the west coast of the South 
Island, the Company operates the Reefton Open Pit mine. OceanaGold produces 
approximately 230,000 - 250,000 ounces of gold per annum from the New Zealand 
operations. The Company also owns the Didipio Project in northern Luzon, 
Philippines where commissioning activities are currently underway. Currently, 
Didipio is expected to produce 100,000 ounces of gold and 14,000 tonnes of 
copper per year over an estimated 16 year mine life. 
OceanaGold is listed on the Toronto, Australian and New Zealand stock 
exchanges under the symbol OGC. 
Cautionary Statement 
Statements in this release may be forward-looking statements or 
forward-looking information within the meaning of applicable securities laws. 
Any statements that express or involve discussions with respect to 
predictions, expectations, beliefs, plans, projections, objectives, 
assumptions or future events or performance (often, but not always, using 
words or phrases such as "expects" or "does not expect", "is expected", 
"anticipates" or "does not anticipate", "plans", "estimates" or "intends", or 
stating that certain actions, events or results "may", "could", "would", 
"might" or "will" be taken, occur or be achieved) are not statements of 
historical fact and may be forward-looking statements. Forward-looking 
statements such as production forecasts and development timelines are subject 
to a variety of risks and uncertainties which could cause actual events or 
results to differ materially from those reflected in the forward-looking 
statements. They include, among others, the accuracy of mineral reserve and 
resource estimates and related assumptions, inherent operating risks and those 
risk factors identified in the Company's most recent Annual Information Form 
prepared and filed with securities regulators which is available on SEDAR at 
www.sedar.com under the Company's name. There are no assurances the Company 
can fulfil such forward-looking statements and, subject to applicable 
securities laws, the Company undertakes no obligation to update such 
statements. Such forward-looking statements are only predictions based on 
current information available to management as of the date that such 
predictions are made; actual events or results may differ materially as a 
result of risks facing the Company, some of which are beyond the Company's 
control. Accordingly, readers should not place undue reliance on 
forward-looking statements. 
OceanaGold Corporation 
Investor Relations - Melbourne Nova Young or Darren Klinck Tel: +61(3) 9656 
5300 
Investor Relations - Toronto Sam Pazuki +1 416 915 3123 
info@oceanagold.com |www.oceanagold.com 
SOURCE: OceanaGold Corporation 
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CO: OceanaGold Corporation
NI: MNG PCS FIELD  
-0- Oct/25/2012 05:16 GMT
 
 
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