OceanaGold Submits Permit Application and Provides Technical and Exploration Update Supporting Mine Life Extension at Macraes
OceanaGold has lodged its Macraes Phase 4 (MP4) permit application under New Zealand's Fast-track Approvals Act 2024, seeking to extend mine life at Macraes from the current reserve life of 2032 to the late 2030s and enable open pit extensions at Innes Mills, Coronation, Coronation North and Golden Bar plus a Golden Point Underground extension. The filing is backed by new exploration data from a record US$13 million 2026 budget funding 60,000 metres of drilling at Macraes, with intercepts such as 7.9 m @ 5.4 g/t gold at Coronation and down-dip step-outs at Golden Point Underground confirming mineralization beyond current mine plans.
Key figures
- Mine life target
- late 2030s
- Notable intercepts
- ["7.9 m @ 5.4 g/t Au (DDH8286, Coronation)","12.0 m @ 2.1 g/t Au (DDH8281, GPUG)","15.0 m @ 1.5 g/t Au (DDH8412, GPUG)","25.0 m @ 0.8 g/t Au (DDH8224, Innes Mills)","4.0 m @ 7.9 g/t Au (RCH8344, Nunns)"]
- Current reserve life
- 2032
- Drilling 2026 metres
- 60000
- Spim resource target
- year-end 2026
- Land package hectares
- 14000
- Cumulative production oz
- 6000000
- Permit decision expected
- mid-2027 (subject to appeals)
- Exploration spend 2026 usd
- 13000000
- Updated ni 43 101 expected
- early 2028
- Production target oz per year
- 100000
AI analysis
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