Announcement Date: 2022-04-01
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: OceanaGold Corp.
Project name: Didipio
Location: Philippines
Commodities: Gold,Copper
Highlight: Updated Reserve Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The Didipio operation is an operating gold-copper mine in the northern Luzon region of the Republic of the Philippines with in-situ underground and surface stockpile reserves estimated to be 42.2 Mt at 0.91 g/t Au and 0.35% Cu for 1.23 million ounces of gold and 0.15 million tonnes of copper, including2.57 million ounces of silver as at 31 December 2021. The operating mine life remaining is 12 years with underground production and processing complete in 2033. The average ore grade for underground material is 1.54g/t Au, 0.42 % Cu and 1.79g/t Ag. Surface stockpile ore has an average grade of 0.34g/t Au, 0.29% Cu and 1.99g/t Ag. The commodity price assumptions that form the basis of Mineral Resources and Mineral Reserves estimates in this report are listed in Table 1-1. Open pit mining commenced in July 2012 and commercial production was declared in April 2013. The open pit was successfully completed to final design in April 2017 with 27Mt of low and medium grade stockpiles remaining at the time for processing. In April 2015 construction of the underground portal and development began, with first stoping in December 2017. The previous Didipio technical report was filed in October 2014 prior to the commencement of the underground mine and completion of the open pit.
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