First gold at Martha Underground

news OceanaGold achieves first gold production at Martha Underground

OceanaGold Corporation has issued an update on Martha Underground, part of its Waihi Operations in New Zealand, including project development progress and updates to mineral resources.

“We are very pleased with the progress

we have made at Martha Underground where we have achieved first gold production and expect steady-state in the second half of the year,” said Michael Holmes, President and CEO. “We will continue to batch process MUG ore this month ahead of the planned mill shut down to install a new SAG mill shell which remains on schedule for completion in late second quarter. Once completed, we expect underground production to sustain continuous milling. “Following our successful 2020 infill drill campaign at MUG, the company is pleased to announce an increase in the indicated resource to one million ounces of gold grading 5.2 g/t; an increase

of 36% representing the addition of approximately 260,000 ounces of gold. The increase in indicated resource underpins the minimum ten-year mine life targeted for MUG. Importantly, we are also on track to complete the MUG feasibility study that will include our initial mineral reserve for the deposit.” The company continues to expect Waihi to produce between 35,000 and 45,000 ounces of gold in 2021.

“We are pleased to announce an increase in the indicated resource to one million ounces of gold ”

Leviathan Gold launches 30,000 metre drilling program at Avoca and Timor Projects

Leviathan Gold has launched a 30,000 metre drilling program at its newly-acquired Avoca and Timor Projects in the Victorian goldfields of Australia.

Diamond drilling has commenced at Avoca, with the initial phase of work, expected to comprise at least 5,000 metres, designed to target nearsurface strike and depth projections of mineralization around and beneath the Excelsior Reef.

Historic records from Excelsior indicate the mining of 13,200 tons for 9,260 ounces of gold to a depth of 100 meters at an average recovered grade of 22 g/t Au between 1909 and 1915.

“We are excited to commence drilling of this near-surface high grade target at Excelsior,” said Leviathan Gold CEO, Luke Norman. “Historic records from this prospect suggest that the mining and processing methods of the day were rudimentary, such that only isolated extraction of shallow, near-surface, visible, high-grade mineralization was possible, resulting in only very selective and discontinuous mining, and leaving open targets at Excelsior – and numerous other prospects – for Leviathan to drill-test.”

“Historic records indicate the mining of 9,260 ounces of gold to a depth of 100 meters”