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Strategies & Market Trends : Ride the Tiger with CD
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To: Claude Cormier who wrote (186013)4/12/2010 8:27:41 AM
From: loantech  Read Replies (1) of 312318
 
Monday April 12 2010 - News Release

OCEANAGOLD ANNOUNCES EXTENSIONS TO MINERALIZATION AT THE REEFTON GOLD MINE

OceanaGold Corp. has released results from the first phase of a brownfields exploration program, which have identified a number of extensions to the gold mineralization at the General Gordon, Souvenir and Empress deposits at the Reefton gold mine in New Zealand.

Souvenir, which is the farthest south of the three deposits, is less than three kilometres from the processing plant for the Reefton mine, and within the current mining permit.

Highlights

-- Drilling programs have identified mineralized extensions at Souvenir and General Gordon deposits which are likely to result in increased reserves and pit expansions. Follow up drilling at these identified areas is already underway.
-- Mineralized extensions were also intersected at the Empress 1 deposit with further work planned to examine potential underground mining opportunities.
-- Following intensive mapping and geochemical sampling programs, six additional highly prospective near mine targets have been identified along the mineral trend. A drilling program focused on these targets has commenced.

Souvenir Deposit

Table A below provides a summary of selected intercepts from the reverse circulation (RC) infill drilling program at the Souvenir deposit. Highlights include 14 metres @ 6.90 g/t at RRC0068 and 12 metres @ 8.26 g/t at RRC0072. Given the success of this program, a 12 hole follow up RC drilling program was recently commenced.
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