Oceana Gold has confirmed the discovery of significant additional gold reserves in the Frasers underground mine, near Macraes in East Otago.
Results to date are expected to extend (the) indicated resource boundary and therefore extend P2 Deeps reserves”, with the potential for an extra 18 months of mining operations at the mine, near the Macraes goldmine.
OceanaGold announced inferred resource of more than 0.5Mt last September in the P2 zone, with around 40% of that upgraded to provable reserves, with mine development starting in March.
The results from the latest drilling “appear as good or better than the current Panel 2 mining area.”
“It is expected that a significant portion of the current inferred resources will be upgraded to indicated resources and then integrated into the mine plan,” OceanaGold said.
The Macraes mine has created dozens of jobs with the positive financial and social spin off for the East Otago community.
Among the conditions of the company’s resource consent is a requirement about leaving the land in good condition when the mining is finished so the environment will be no worse, and possibly better than it was before mining started.
In a past life I wrote a newsletter for a company which serviced the mine and had to do research on the process of extracting gold for a story.
I’ve forgotten the details but remember that improvements in technology had enabled the company to extract tiny amounts of the metal from large amounts of rock. That was more than 20 years ago, no doubt the process has got even better since then.
Homepaddock 
Have you seen Macraes hole-in-the-ground?
It’s massive.
“Among the conditions of the company’s resource consent is a requirement about leaving the land in good condition when the mining is finished so the environment will be no worse, and possibly better than it was before mining started.”
“In good condition”
By whose reckoning?
I don’t believe it at all. Hugely disturbed sub strata, covered over with relocated topsoil and sown in ryegrass then smothered with cows. That’s all I expect.
Shortsighted cover-up by the mining industry, supported by the farming industry.
And all for GOLD, bright, shiny gold!
That’ll make the good folk of Macraes Flat rich beyond their wildest dreams.
Eh!
Not enough gold above ground already I suppose. Gotta have it!
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You ever seen the blue lake at St Bathans Robert?
Its a tourist attraction of sorts these days
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I have Andrei.
Are you suggesting we create another like it?
For the amusement of tourists?
Tourists love to visit deserts too.
Perhaps we could create one for them.
You know, as an attraction.
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