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New Zealand
Waihi Operation (Correnso Mine, Martha Mine)

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 Location:
110km SE from Auckland, New Zealand
  Address:
43 Moresby Avenue
PO Box 190
Waihi
New Zealand
3610
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  • Overview
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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Gold
  • Silver
Mining Method
  • Avoca
  • Cemented backfill
Production Start...
Mine Life2028
The Waihi Operation comprises of Correnso and Martha Underground.

The Correnso Project is nearing completion and backfilling activities is expected to be complete by the end of 2023. In early 2021 the focus of underground mining activities transitioned to Martha following the completion of production from the lower levels of Correnso. Production in the Martha Underground mine commenced in June 2021.

Exploration at Waihi will focus on resource conversion drilling and growth at Martha Underground, plus continued resource conversion drilling at Wharekirauponga (WKP). The OceanaGold expects to release a NI 43-101 compliant PFS in the first half of 2024. The OceanaGold is expecting first ore from WKP in late 2031 with stoping fully underway in 2032.

Owners

Source: p. 11,57
CompanyInterestOwnership
OceanaGold Corp. 100 % Indirect
The Waihi operation is managed by Oceana Gold (New Zealand) LTD., a 100% owned subsidiary of the OceanaGold Corporation.

Contractors

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Deposit Type

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

Summary:

All the gold deposits are considered to be typical of epithermal vein gold-silver deposits.

All known Au and Ag mineralisation in Waihi is confined to veining or vein fragment within hydrothermal eruption breccia. The major mineralised veins are typically coincident with dip-slip, normal faults believed to have formed in an extensional setting related to early, back-arc rifting of the TVZ dated at ca.6.1 Ma (Mauk et al 2011).

Some of the main mineralised veins within the Waihi area include the Martha vein system (which includes the Martha, Empire, Welcome, Royal, Edward, Rex and Albert veins among many others) in the Northwest (NW) and the Correnso, Daybreak, Union, Trio, Amaranth, Favona, Moonlight and Gladstone veins progressively SE.

Martha
The Martha vein system is the largest and most documented of the vein networks in Waihi. It has historically been mined from underground and more recently mined as an open pit and is currently being mined from underground once again. The veins are numerous and form a large network that extends for more than 1600 m along strike and 600 m below the surface. The vein network although complex in detail, simply comprises the dominant southeast-dipping Martha vein and several northwest-dipping hangingwall splays including the Empire, Welcome, Royal and Rex veins. The Martha vein is the largest vein structure reaching up to 30 m in thickness in places but averages 6 to 15 m wide. Increased vein widths are ........

Mining Methods

  • Avoca
  • Cemented backfill

Summary:

The underground operations referred to as Waihi underground, comprises the two main mining areas of Correnso and Martha Underground. There is no more ore planned to be extracted from Correnso and backfilling of current drives in line with consent conditions is the only work being carried out. Development and production activities continue in Martha Underground.

In early 2021 the focus of underground mining activities transitioned to Martha following the completion of production from the lower levels of Correnso. Narrow vein mining continued in Correnso until mid 2022 before backfilling and other closure activities commenced.

No further ore is planned to be extracted from the Correnso Mine and backfilling activities as required by the consent conditions is expected to be complete by the end of 2023.

Martha underground
In February 2019, consents were granted for Project Martha comprising the Martha Underground mine and a small cutback of the north wall of the Martha open pit called Phase 4 (MOP4). Mining commenced in the Martha Underground mine in July 2019 with the development of access tunnels. There has been no mining undertaken in MOP4 at this stage. Production in the Martha mine commenced in June 2021.

The Martha underground is accessed via the existing Favona portal through the existing Trio and Correnso workings and shares the ventilation development and shafts as well as the Correnso workshop, Trio cribroom and dewateri ........

Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityUnits2023202220212020201920182017
Gold koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required84119
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:

Metrics202220212020201920182017
Total tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required433 kt433.6 kt473,706 t
Waste  ......  Subscription required  ......  Subscription required  ......  Subscription required141 kt205.9 kt377,132 t
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required435 kt429.3 kt472,450 t
Annual milling capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required1.25 Mt1.25 Mt1.25 Mt
Annual processing rate  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Reserves at December 31, 2022:
Underground Mineral Reserves are stated using 2.60 to 3.10 g/t Au cut-off.

Martha Underground Resources at a 2.15 g/t Au cut-off, Wharekirauponga (WKP) at a 2.5 g/t Au cut-off, Martha Open Pit at a 0.5 g/t Au cut-off and Gladstone Open Pit at a 0.56 g/t Au cut-off.

CategoryOreTypeTonnage CommodityGradeContained Metal
Probable In-Situ (UG) 3.81 Mt Gold 4.16 g/t 0.51 M oz
Probable In-Situ (UG) 3.81 Mt Silver 15 g/t 1.8 M oz
Indicated In-Situ (OP) 7.2 Mt Gold 1.73 g/t 0.4 M oz
Indicated In-Situ (UG) 7.3 Mt Gold 6.94 g/t 1.64 M oz
Indicated In-Situ (OP) 7.2 Mt Silver 13 g/t 2.9 M oz
Indicated In-Situ (UG) 7.3 Mt Silver 19 g/t 4.5 M oz
Inferred In-Situ (OP) 5.7 Mt Gold 1.7 g/t 0.3 M oz
Inferred In-Situ (UG) 5.9 Mt Gold 6.1 g/t 1.2 M oz
Inferred In-Situ (OP) 5.7 Mt Silver 16 g/t 3 M oz
Inferred In-Situ (UG) 5.9 Mt Silver 18 g/t 3.4 M oz

Commodity Production Costs:

CommodityUnits2023202220212020201920182017
Cash costs (sold) Gold USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 615 / oz†   471 / oz†  
All-in sustaining costs (sold) Gold USD  ......  Subscription required ^†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 763 / oz†   759 / oz†  
^ Guidance / Forecast.
† Net of By-Product.
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Operating Costs:

Units2022202120202019201820172016
UG mining costs ($/t mined) USD 63.35952.844.958.444.852.1
Processing costs ($/t milled) USD  ......  Subscription required  ......  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
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Financials:

Units2023202220212020201920182017
Capital expenditures (planned) M USD  ......  Subscription required
Growth Capital M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 40.5   32  
Sustaining costs M USD 8.2  
Revenue M USD 112.3  
EBITDA M USD 56.5  
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Water Supply
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Heavy Mobile Equipment as of March 31, 2021:
HME TypeModelSizeQuantityStatusLeased or
Contractor
Drill ....................... Subscription required ....................... Subscription required Existing Leased
Drill (long hole) ....................... Subscription required ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Grader ....................... Subscription required ....................... Subscription required Existing Leased
Loader ....................... Subscription required Existing Leased
Loader ....................... Subscription required ....................... Subscription required Existing Leased
Loader ....................... Subscription required ....................... Subscription required Existing Leased
Loader ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Scissor Lift ....................... Subscription required ....................... Subscription required Existing Leased
Shotcreter ....................... Subscription required ....................... Subscription required Existing Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased
Truck (underground) ....................... Subscription required 50 t ....................... Subscription required Existing Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 2, 2023
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Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required 2021
Subscription required 2020
Subscription required Subscription required Subscription required 2019
Subscription required Subscription required Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2022
Management Discussion & Analysis 2022
Year-end Mineral Reserves 2022
................................... 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 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Information Form 2018
Corporate Presentation 2018
Management Discussion & Analysis 2018
Press Release 2018
Press Release 2018
Press Release 2018
Year-end Mineral Reserves 2018
Annual Information Form 2017
Corporate Presentation 2017
Management Discussion & Analysis 2017
Sustainability Report 2017
Annual Report 2016
Technical Report 2015
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