12 Jul 2010

Oceana Gold shares leap after new find

10:19 pm on 12 July 2010

Shares in Oceana Gold have jumped 9% after the miner found significant new reserves of gold at its Otago underground Frasers mine in Otago.

The stock gained 35c to $4.20.

Oceana Gold says the find of additional high grade gold reserves may extend the life of the mine by another 18 months.

The company says it will continue its drilling programme to determine the size of the find.