OceanaGold Corp said on Friday it had received the mining permit for Wharekirauponga at Waihi.
The proposal is to mine under Department of Conservation land 10km north of its existing Waihi processing plant.
Oceana president & chief executive Michael Holmes said the company would continue to drill the prospect over the next few years while it worked on obtaining remaining consents.
“Based on the recently completed preliminary economic assessment for the Waihi district, the company envisages underground mining at Wharekirauponga (WKP) and first production in 2026, with processing taking place at the existing Waihi plant. Over the currently estimated life of mine, WKP is expected to produce 190-230,000 ounces of gold annually.”
Oceana is listed on the Toronto & Australian stock exchanges and has assets at Waihi & Macraes in New Zealand, and in the Philippines & the US.
Attribution: Company release.