Toronto-listed OceanaGold has reported promising results from exploration and resource conversion drilling at the Haile gold mine in the US, highlighting high-grade gold intercepts at both the Pisces and Horseshoe targets.
The company’s initial drilling at the Pisces exploration target, located 300 m from the Horseshoe deposit, has returned significant gold grades, including 44.2 m at 10.9 g/t gold (DDH1267), 9.4 m at 44.1 g/t gold (DDH1269), and 42.7 m at 6.1 g/t gold (DDH1257).
At Horseshoe, where definition drilling is under way, notable intercepts include 12.9 m at 50.1 g/t gold (UGD0073), 31.9 m at 11.7 g/t gold (UGD0075), and 21.7 m at 7.3 g/t gold (UGD0069). Additional results include 19.4 m at 6.7 g/t gold (UGD0077), 19.2 m at 6.5 g/t gold (UGD0063), 22.6 m at 5.3 g/t gold (UGD0065), and 7.4 m at 16.1 g/t gold (UGD0072).
OceanaGold president and CEO Gerard Bond said the latest results reinforce the value of the company’s exploration efforts at Haile.
"Today's exciting new discovery at Haile continues to demonstrate the exceptional return on investment we receive from exploration. While still early days at the Pisces discovery, we are excited about its size potential and it remains open in multiple directions. Pisces is close to existing and planned underground infrastructure, which may provide benefits from a mining perspective. Due to the phenomenal exploration success we have seen at Haile recently, including Pisces, Horseshoe and Ledbetter Phase 4, we increased the 2025 exploration budget at Haile by 20% to $10-million, the largest exploration budget at Haile since the mine has been in production. This supports our strategy of increasing shareholder value through the drill bit," Bond said.
The company has stated that Pisces remains open in multiple directions and could present further opportunities for resource growth. The proximity of the new discovery to planned and existing underground operations could also offer future mining advantages. With the recent exploration success at Haile, including Pisces, Horseshoe, and Ledbetter Phase 4, OceanaGold has committed to increasing its 2025 exploration budget at Haile by 20% to $10-million, marking the largest exploration budget at the site since production began. 