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New Zealand
Macraes Operation (Frasers Mine, Macraes Mine)

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 Location:
55 km N from Dunedin, New Zealand

  Address:
Golden Point Road, RD3, Macraes Flat 9483, East Otago
Macraes
New Zealand
9483
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  • Overview
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Overview

StageProduction
Mine TypeOpen Pit & Underground
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
  • Sub-level caving
  • Longhole open stoping
Production Start...
Mine Life10 years (as of Jan 1, 2021)
The Macraes Operation includes the Coronation, Coronation North, Innes Mills, Deepdell and Frasers open pits, Frasers (FRUG) and Golden Point (GPUG) underground mines, and an adjacent processing plant including a pressure oxidation plant for the processing of sulphide ore.

OceanaGold achieved the first production from Golden Point Underground (GPUG) in the fourth quarter of 2021. GPUG will continue to ramp-up with future development and will initially supplement, then eventually fully replace the existing Frasers Underground gold production.


Owners

Source: p. 10, 27
CompanyInterestOwnership
OceanaGold Corp. 100 % Indirect
The Project is controlled by OceanaGold Corporation through its wholly owned subsidiary OceanaGold Limited

Contractors

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Deposit Type

  • Orogenic
  • Breccia pipe / Stockwork
  • Vein / narrow vein


Summary:

The Coronation and Coronation North deposits are located 5 to 6 km to the northeast of the processing plant. Coronation consists of a 15 to 20 degrees dipping hangingwall shear that is between 3 and 10 metres thick. Immediately beneath (1 to 10 metres) the hangingwall shear is a thinner lode structure that parallels hangingwall. Unlike deposits to the south, there is very little development of stockwork mineralisation beneath the hangingwall. Mineralogically, the Coronation deposit is very similar to previously mined deposits to the south. Located 1km to the north of Coronation is the Coronation North deposit which was discovered in 2015. Coronation North differs from most of the previously mined ore bodies along the HMSZ. Pit mapping and grade control data have delineated a left-hand lateral bend in the strike of the HWS coincident with a high-grade zone of mineralisation that plunges to the ENE. Traversing along the shear from southeast to northwest the dip of the HWS gradually decreases whereas the strike bends towards the west. This bend coincides with a zone of steeply dipping en-echelon style mineralised splays beneath the HWS, whose dip steepens to near vertical as they approach the FWF. Zones of finely laminated mineralised quartz veins also form beneath this WSW-striking segment of the HWS, perpendicular to its strike. Compared to the other deposits in the goldfield, the WSW-strike of Coronation North, the relatively narrow approximately 100m width of the mineralised ........


Mining Methods

  • Truck & Shovel / Loader
  • Sub-level caving
  • Longhole open stoping


Summary:

Open Pit:
Conventional open cut bench mining methods are used at the Macraes Goldfield. Pits are excavated on level benches 2.5m high within the ore zone (approx. 2.8m high after blasting) and 4m high within the waste zone.

Hydraulic backhoe excavators in the 250t and 360t class are used for mining ore and waste. Ore is mined with different techniques depending on the style of mineralisation.
- Hanging wall lode ore is mined by first removing the hanging-wall waste with an excavator under visual control of a geological technician, then mining the exposed ore. Footwall ore is selectively removed from the underlying footwall waste if it can be visually controlled, otherwise the footwall ore is diluted with the wedge of underlying waste; and
- Stockwork ore is generally mined within the defined ore blocks. Ore blocks are defined with the guidance from a conditionally simulated grade control model.

With this mining method and equipment, the smallest selective mining unit (SMU) used when defining ore blocks is 4m by 4m by 2.5m high (approximately 100t), but blocks are generally a minimum of 500t to minimise dilution.

Mining to date at Macraes has come from thirteen pits comprising (from north to south), Coronation North, Coronation, Deepdell North, Deepdell South, Golden Point, Northwest Pit, Round Hill, Southern Pit, Innes Mills, Innes Mills West, Frasers, Golden Ridge and Golden Bar. Current operations are based in Coronation North ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityUnits2022202120202019201820172016
Gold koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required203160149
Silver koz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Total tonnes mined  ......  Subscription required  ......  Subscription required51,619 kt44,927 kt42.1 Mt
Ore tonnes mined  ......  Subscription required  ......  Subscription required6,456 kt6,314 kt5,071,508 t4,971,248 t
Waste  ......  Subscription required  ......  Subscription required45,163 kt38,613 kt37,069,604 t27,052,932 t
Tonnes milled  ......  Subscription required  ......  Subscription required5,917 kt5,897 kt5,877,501 t5,866,286 t
Plant annual capacity  ......  Subscription required  ......  Subscription required6 Mt6 Mt
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Reserves at December 31, 2021:
Mineral Reserves Cut-off grades are 0.4 g/t Au for Open pit, 1.61 g/t Au for Frasers Undeground and 1.44 g/t Au for Golden Point Underground.

Mineral Resources Cut-off grades are 0.3 g/t Au for Open pit, 1.25 g/t Au for Frasers Undeground and 1.34 g/t Au for Golden Point Underground.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven In-Situ (OP) 15.6 Mt Gold 0.87 g/t
Proven In-Situ (UG) 0.33 Mt Gold 2.23 g/t
Probable In-Situ (OP) 19.9 Mt Gold 0.85 g/t
Probable In-Situ (UG) 3.21 Mt Gold 1.88 g/t
Proven & Probable In-Situ (OP) 35.5 Mt Gold 0.86 g/t 0.98 M oz
Proven & Probable In-Situ (UG) 3.54 Mt Gold 1.91 g/t 0.22 M oz
Measured In-Situ (OP) 21.7 Mt Gold 0.88 g/t
Measured In-Situ (UG) 0.7 Mt Gold 2.98 g/t
Indicated In-Situ (OP) 56 Mt Gold 0.75 g/t
Indicated In-Situ (UG) 6.1 Mt Gold 2.48 g/t
Measured & Indicated In-Situ (OP) 77.7 Mt Gold 0.79 g/t 1.96 M oz
Measured & Indicated In-Situ (UG) 6.9 Mt Gold 2.53 g/t 0.56 M oz
Inferred In-Situ (OP) 24 Mt Gold 0.7 g/t 0.5 M oz
Inferred In-Situ (UG) 0.3 Mt Gold 2.1 g/t

Commodity Production Costs:

CommodityUnits202220212020201920182017
Cash costs (sold) Gold USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 557 / oz†   737 / oz†  
All-in sustaining costs (sold) Gold USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 879 / oz†   1,115 / oz†  
^ Guidance / Forecast.
† Net of By-Product.
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Operating Costs:

Units202120202019201820172016
OP mining costs ($/t mined) USD 1.331.131.211.31.31.05
UG mining costs ($/t mined) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Financials:

Units2022202120202019201820172016
Capital expenditures (planned) M USD  ......  Subscription required
Growth Capital M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 1.9  
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 50.2   57.2   30.7  
Sustaining costs M USD 12.3   29  
Revenue M USD 251.4  
EBITDA M USD 144.9  
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 1, 2022
....................... Subscription required ....................... Subscription required Subscription required May 10, 2022
....................... Subscription required ....................... Subscription required Subscription required May 10, 2022
....................... Subscription required ....................... Subscription required Subscription required May 10, 2022
....................... Subscription required ....................... Subscription required Subscription required May 10, 2022
....................... Subscription required ....................... Subscription required Subscription required May 10, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required 2021
Subscription required Subscription required Subscription required 2019
Subscription required Subscription required Subscription required 2018
Subscription required Subscription required Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Information Form 2018
Corporate Presentation 2018
Corporate Presentation 2018
Management Discussion & Analysis 2018
Press Release 2018
Press Release 2018
Press Release 2018
Year-end Mineral Reserves 2018
Corporate Presentation 2017
Management Discussion & Analysis 2017
Annual Information Form 2016
Annual Report 2016
Management Discussion & Analysis 2015
Technical Report 2010
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