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OceanaGold studies 50% Waihi expansion after high-grade gold hits
The plan would raise Waihi processing capacity to 1.2 million tonnes per year from 800,000, potentially allowing the Martha underground mine to run alongside production from Wharekirauponga starting in 2032.
OceanaGold is studying a 50% expansion of its Waihi processing plant in New Zealand after drilling at Wharekirauponga produced additional high-grade gold intersections, the company said. The update includes a 6.3-metre intercept grading 97.2 grams of gold per tonne, alongside other results reported from multiple holes, with mineralization described as open along strike and at depth.
The proposed expansion would increase processing capacity to 1.2 million tonnes per year, up from 800,000 tonnes. OceanaGold said the additional capacity could let its existing Martha underground mine operate concurrently with Wharekirauponga after the new project begins producing in 2032, subject to evaluation in an updated Waihi District technical report due in January.
The mining company said it is assessing how the drilling supports upgrades from inferred to indicated resources and a higher reserve figure in its year-end estimate. OceanaGold also noted that five rigs are now operating at Wharekirauponga, up from three when it last reported drill results in April.
OceanaGold said the updated technical report is expected to include new resources and reserves, an updated mine plan, and an assessment of extending the Martha mine beyond 2033. The company also reiterated leadership changes, with President and CEO Gerard Bond set to retire in April after five years, and an executive search firm engaged to help identify replacements.
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