OceanaGold Corporation
(ASX:OGC) says it has found encouraging results from a drilling program at its Macraes Goldfield in New Zealand.
Lower fuel costs and the weaker New Zealand are making New Zealand operations a lot more attractive.
Earlier this year Oceanagold began a targeted brownfields exploration program which is now showing high potential to deliver increased reserves at Macraes.
Further results have been found at areas to the north and south of the existing Coronation open pit and underground operations at Frasers.
The drilling programs are expected to continue for the remainder of 2015.
OceanaGold reported a net profit of $136 million for the 2014 calendar year.
