OceanaGold Corporation
(ASX:OGC) has announced a maiden resource at Coronation North at its Macraes Goldfield project in New Zealand.
Works are now taking place at Coronation North to further expand the resource and convert it to a reserve.
The company also said detailed drilling at its newly acquired Waihi gold mine in New Zealand had demonstrated potential extensions of the Correnso operation at depth.
OceanGold said that new drilling targets have been identified and it is putting together an extensive exploration program for 2016 to significantly increase the resource base.
OceanaGold recorded a net profit of $30.59 million at 30 June 2015.
