{"id":1140064,"date":"2019-09-24T14:04:29","date_gmt":"2019-09-24T19:04:29","guid":{"rendered":"https:\/\/www.mining.com\/?p=1002717"},"modified":"2019-09-24T14:04:29","modified_gmt":"2019-09-24T19:04:29","slug":"oceanagold-significantly-increases-exploration-target-at-martha-underground","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1140064","title":{"rendered":"OceanaGold significantly increases exploration target at Martha Underground"},"content":{"rendered":"<p>Further drilling at the Martha Underground project at OceanaGold&#8217;s (TSX: OGC) (ASX: OGC) Waihi gold mine supports an increase to the size of the exploration target in addition to the existing resources, the Melbourne-based multinational gold miner <a rel=\"noreferrer noopener\" href=\"https:\/\/www.oceanagold.com\/wp-content\/uploads\/2019\/09\/190924-Martha-Drill-Results-News-Release-ASX.pdf\" >announced on Tuesday<\/a> <\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company has also provided updated exploration results from the Martha Underground, which continues to return high-grade gold intersections. Highlights include: 38.4 metres at 8.1 g\/t gold and 10.1 g\/t silver; 11.9 metres at 13.7 g\/t gold and 32.9 g\/t silver; and 8.5 metres at 17.8 g\/t gold and 65.0 g\/t silver.<\/p>\n<p>Shares of OceanaGold jumped more than 5% on the latest development, at one point hitting a five-week high of C$3.83. The gold miner has a market capitalization of approximately C$2.35 billion.<\/p>\n<p>In\u00a0August 2018, an exploration target ranging between 5 million and 8 million tonnes at a grade of between 4 and 6 g\/t gold was announced for the Martha Underground project. Subsequent drilling within the exploration target resulted in <a rel=\"noreferrer noopener\" aria-label=\"substantial increases (opens in a new tab)\" href=\"https:\/\/www.mining.com\/oceanagold-boosts-resource-waihi-new-zealand-100\/\" >substantial increases<\/a> in indicated and inferred resources (136% and 97% respectively), which were reported in March.<\/p>\n<p>Based on recent exploration results at the Martha Underground, OceanaGold is now targeting an additional 8 to 10 million tonnes of ore grading 4 to 6 g\/t gold, on top of the current 331,000 ounces of indicated resources and 667,000 ounces of inferred resources.<\/p>\n<p>The company says it is currently working on an all-encompassing study to evaluate timing of new source feeds and potential upgrades to existing processing facility, which it expects to complete in the first half of 2020.<\/p>\n<p>The\u00a0Waihi gold mine in the North Island of New Zealand is an underground and open-pit operation. Earlier this year OceanaGold received approval to develop the Martha Underground project, which would extend the Waihi life of mine by at least 10 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of OceanaGold jumped more than 5% on the latest development.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140064"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1140064"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140064\/revisions"}],"predecessor-version":[{"id":1140070,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140064\/revisions\/1140070"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1140064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1140064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1140064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}