OceanaGold Corporation TSX:OGC announced assays from its Frasers Underground Mine in Otago, New Zealand. Results include 1.94 g/t gold over 5 metres, 3.61 g/t over 4 metres, 3.14 g/t over 9 metres, 2.76 g/t over 8 metres, 3.03 g/t over 6 metres, 5.57 g/t over 6 metres, 2.45 g/t over 6 metres, 3.19 g/t over 10 metres, 3.83 g/t over 5.2 metres, 3.19 g/t over 9 metres, 2.35 g/t over 7.5 metres, 4 g/t over 3 metres, 6.72 g/t over 8 metres, 4.5 g/t over 11 metres, 11.52 g/t over 3 metres and 5.38 g/t over 8 metres.
CEO Mick Wilkes said, “The continued extension of mineralisation at the Frasers underground mine demonstrates the tremendous prospectivity that the Macraes goldfield holds even today after 21 years of production. We are investing another $5 to $6 million in resource drilling at the mine this year with the objective of further extending the reserve down dip and to the north of the current mining area. Some of the focus will also target the new lower zone that was discovered last year and is shaping up to be additional reserves that we expect to work into the mine plan in 2012.”
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by Ted Niles