OceanaGold mines first ore from Horseshoe at Haile

The Haile gold mine

The Haile gold mine

15th September 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online


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Toronto-listed OceanaGold has extracted its inaugural batch of development ore from the Horseshoe underground expansion at the Haile mine, in the US, and is on track to deliver first stope ore in October.

“The team has done a tremendous job in planning and safely executing the work to deliver this important growth project,” said president and CEO Gerard Bond.

Three stopes will be mined from October, ranging in size from 25 000 t to 35 000 t and will be initially mined on the 1 000 and 975 levels, with total stope ore production expected to contribute about 90 000 t to the mine plan in 2023.

OceanaGold will ramp up to full target mining rates through the first half of 2024.

The company stated that Haile’s third quarter 2023 gold production had been adversely affected by lower-than-estimated ore grades encountered in the now-completed Mill Zone pit.

Haile’s third-quarter gold production will be about 23 000 oz and full-year production will be about 25 000 oz below 2023 guidance ranges. However, with strong operating performance expected at Didipio and Macraes, expected full-year consolidated gold production for the company remains within the lower end of the original guidance range.

“Although mining from Mill Zone in 2023 has been disappointing through the second and third quarter, the reconciliation challenges encountered are in a localized area within Mill Zone pit where mining is now complete, and mining has now shifted to Ledbetter Phase II. Previous phases of the Ledbetter pit have reconciled well versus our resource model, and we remain confident in our long-term production profile for the mine, particularly with Horseshoe Underground becoming a meaningful contributor in 2024 and beyond,” said COO Americas David Londono.

Edited by Creamer Media Reporter



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