10:35 AM EST, 03/07/2024 (MT Newswires) -- OceanaGold Corp. ( OCANF ) reported Thursday the results from 10 drillholes from the ongoing exploration and resource conversion program at the Wharekirauponga deposit within the Waihi North project in New Zealand.

Highlights include 61.9 g/t gold over 4.0 meters, 31.0 g/t gold over 5.2 meters and 58.5 g/t gold over 2.5 meters.

"Much of 2023's drilling was focused on converting resources at Wharekirauponga and today's results continue to demonstrate the excellent grade and continuity within the EG vein," President and CEO Gerard Bond said.

Meanwhile, OcenaGold welcomed New Zealand's plan to create a one-stop-shop for faster permitting of projects under the Fast Track Approvals Bill.

"We look forward to learning more about the Government's criteria and process for fast-track approvals, given the potential for accelerated permitting of the Waihi North Project, which includes Wharekirauponga," Bond added.

Meanwhile, National Bank of Canada said OceanaGold ( OCANF ) remains its top pick in the intermediate precious metal space, citing the company's near-term production and EBITDA growth driven by the ramp-up at the Hailey underground mine.

The bank added that OceanaGold's ( OCANF ) balance sheet is also set for a significant cash infusion in the second quarter from listing a minority stake of the Didipio mine in the Philippines.

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