International news within the industry of mining and metal, May, 23 2019
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Australian miner to invest $11M in New Zealand gold project

Photo: Oceana Gold
Photo: Oceana Gold
Published by
Jaroslaw Adamowski - 13 Mar 2019

Investment programme Australia’s OceanaGold has released an updated mineral resource for its Martha underground project at the company’s Waihi gold mine in New Zealand, with plans to spend more than $11 million in 2019 on its extensive drill programme.

 

“The recent drill results at Waihi continue to demonstrate the signifi-cant exploration potential at the Martha Underground,” Mick Wilkes, the company’s president and chief executive, said in a statement. “Over the past two years, we have made prudent investments in ex-tensively drilling out the mineralised structures beneath the Martha Open Pit. Since that time, we have reported dozens of significant drill intercepts and a growing resource which has now culminated into an Indicated Resource of 331,000 ounces of gold and Inferred Resource of 667,000 ounces.”

 

OceanaGold says it is a multinational gold producer with assets in the Philippines, New Zealand, and the United States.