20 Apr 2009

Signs of more gold beneath mine

2:43 pm on 20 April 2009

OceanaGold says it may have found more gold at its Macraes field in Central Otago.

The gold miner says it has found what it describes as "high gold mineralisation" below current reserves at the Fraser underground mine at Macraes.

The company says ongoing drilling will determine the extent of the find.

OceanaGold has increased its exploration at its Macraes and Reefton fields and plans to spend up to $10 million on finding more gold reserves this year.