The deposits discovered by Waihi Gold to date are considered to be typical of epithermal vein gold – silver deposits. In the opinion of the Qualified Persons (QPs), features that the Waihi deposits display that are typical of epithermal gold deposits include:
• Host lithologies for veins are andesite flows and volcaniclastics.
• Gold-silver mineralisation is hosted in localized bands within multiphase quartz veins.
• Host andesitic volcanics have undergone pervasive hydrothermal alteration, often with complete replacement of primary mineralogy.

The major gold - silver deposits of the Waihi District are classical low sulphidation adularia-sericite epithermal quartz vein systems associated with north to northeast trending faults. Larger veins have characteristically developed in dilational sites in the steepened upper profile of extensional faults with narrower splay veins developed in the hanging wall of major vein structures. Moderate to steeply dipping veins or vein systems are characterised by 200 to 2000m of strike, 170 to 700m vertical range and upwards of 30m individual vein widths; – but more typically 1-5m. The main ore minerals are electrum and silver sulphides with ubiquitous pyrite and variable though usually minor sphalerite, galena and chalcopyrite in a gangue consisting of quartz, locally with calcite, chlorite, rhodochrosite and adularia. Base metal sulphide content generally increases with depth.

The Correnso epithermal vein system is part of the greater Waihi epithermal vein system. It trends northerly and lies between the Martha Hill deposit to the west and the Union/Amaranth/Trio and Favona deposits to the south and southeast. The dominant host lithology is quartz phyric andesite lava, also the main host lithology for the Martha Vein System. The quartz andesite unit attains thicknesses in excess of 400m in the Union Hill – Waihi East area with only minor variation in texture or modal composition. The Correnso system comprises a main lode with smaller splays veins on both the hanging wall and footwall sides. The main mineralized lode is interrupted to the north by a NE trending calcite-quartz (barren) structure. The grade distribution to the north is increasingly complicated by bands / lobes of low grade calcite-quartz which appear to have flooded the system post Au mineralization. The main gold mineralisation lies between 900mRL and 775mRL. Gold-silver mineralisation is dominantly hosted in localized bands within multiphase quartz veins. There is an association of sphalerite, galena and chalcopyrite with gold-silver mineralisation throughout the deposit. The lower part of the deposit is base metal rich with galena (up to +3% Pb) and sphalerite (up to +1% Zn).

The Correnso mine is in the final stages of production with production expected to be completed in the second quarter of 2022.

There are multiple orebodies within the underground mine including Correnso, Daybreak, Empire, Trio, and Louis. All mining areas share the same stoping method and have very similar modifying factors and assumptions and design criteria applied.

Correnso is accessed via the existing Favona Mine and Trio Mine, the portal is close to the Process Plant.

Mining options available for Correnso are limited because of the consent conditions which include blasting and backfill constraints. Modified Avoca long hole bench mining with waste rock backfill was selected as the preferred mining method for extraction of Correnso.

Small areas of the Louis orebody use an overhand cut and fill method due to the narrow, shallow dipping nature of the orebody.

Access to underground workings is via a decline from previously mined areas, which also serves as a fresh air intake. The primary ventilation is exhausted through a raise bored shaft to surface and a return air drive breakthrough into the Martha pit. An escapeway rise that has been raise bored to surface and equipped also serves as a fresh air intake. The portal is located close to the processing plant.

In general mining areas are designed with either a 15 m or 18 m level spacing, floor to floor. This is primarily to limit blast vibration, but this also assists hanging wall and footwall stability. This is in line with previously mined areas and has proven to be successful and efficient. The mine layout for the current underground workings can be summarized as follows:
• Primary accesses via the existing development that was used for the Favona, and Trio mines.
• Exhaust ventilation from the development levels travels to a dedicated return air raise adjacent to the spiral decline.
• Ore and level development at level spacing discussed above
• All material movements on and off levels are via stockpiles developed on the level access.
• The permit and mining method require all stopes and selected development to be backfilled.
• Sufficient material exists at the surface to backfill the Mineral Reserve.

Comminution
Underground stockpile ore is reclaimed at 80 tonnes per hour by front end loader and fed onto a static grizzly with an aperture of 150 mm. The final conveyor from the ore handling circuit transports the ore into the grinding circuit.

Prior to entry into the feed chute of the semi autogenous (SAG) mill, the ore is further reduced in feed size via a jaw crusher to a P80 of 110 – 130 mm. The SAG mill ball size is 125 mm and the mill will operate typically with a 10% ball load. The SAG mill draws between 2.1 and 2.5 MW of power.

The SAG mill discharge is sized using a trommel attached to the SAG. The +12mm oversize material is conveyed to a 30 kW cone crusher and is recycled back to the SAG mill. The undersize slurry from the SAG trommel is pumped to two 0.5 m diameter inclined Weir Warman Cavex cyclones. The cyclone underflow reports to the SAG mill feed chute. The cyclone overflow gravitates to the ball mill discharge hopper, whereby the slurry is pumped to a cyclone distributor, which consists of fourteen 250 mm diameter Weir Warman Cavex cyclones. The cyclone underflow reports back to the ball mill for further grinding and the cyclone overflow reports to the pre-leach thickener.

Normally, the comminution process is set-up as a closed-circuit, but the plant has an ability to operate to an open circuit system if required.

Ore processing consists of five stages: comminution, leaching/adsorption, elution, electro-winning and smelting.

Leaching and Adsorption
The pre-leach thickener increases slurry density from approximately 15% solids to approximately 37% to 40% solids prior to the leach/adsorption circuit, which comprises six leach and six carbon in pulp (CIP) adsorption tanks. The leaching tanks capacity are 700 m3 and the adsorption tanks have 300 m3, providing a total residence leach/adsorption time of 24 hours for Martha ore and 48 hours for Correnso ore. Wedge wire cylindrical inter-stage screens with mechanical wipers are installed in each adsorption tank. The interstage screens retain carbon in the tank but let the slurry pass through to the next stage. A bleed stream is pumped from an adsorption tank to the previous tank in the circuit, the carbon contained in the bleed stream is retained in the previous adsorption tank in the circuit, this provides counter current flow whereby t ........