Geopacific Resources Ltd (ASX:GPR) has delivered shallow, high-grade gold hits in ongoing exploration drilling campaign at the Woodlark Gold Project in Papua New Guinea.
The company’s resource extension drilling targeting lateral and down dip potential at Kulumadau delivered positive near-surface results, all within 100 metres of the surface including:
- 41 metres at 2.10 g/t gold from 35 metres, including 3 metres at 8.04 g/t from 36 metres;
- 3 metres at 3.37 g/t from 71 metres, including 1-metre at 7.72 g/t from 72 metres; and
- 14 metres at 1.90 g/t from 88 metres, including 1-metre at 5.80 g/t from 89 metres.
“Resource growth potential”
Geopacific CEO Tim Richards said: “It is great to see that all phases of our drilling campaign on Woodlark Island have delivered positive results that continue to highlight the resource growth potential at the project.
“The current resource extension drilling has identified the down dip and lateral potential at the Busai and Kulumadau deposits.
“These results, coupled with the positive results from the grade control program will be incorporated into our updated mineral resource which is scheduled to be completed by the end of CY2022.”
Drill highlights
Geopacific continues to execute its resource extension drilling program which has been targeting lateral and down-dip mineralisation at Kulumadau.
In recent drilling, the company has been able to test previously inaccessible areas facilitated by the ongoing community relocation program.
This drilling has identified mineralisation that sits outside the planned pit shell at Kulumadau and highlights the upside resource potential that exists at the project.
The results received in the 'Bullnose' at the southern edge of the current Kulumadau pit, where historic drilling has been limited due to the proximity of the community, suggest that drilling in this area will increase the level of geological confidence and may allow for a larger and less complex pit shell.
Other strong results include:
- 1-metre at 7.85 g/t gold from 45 metres;
- 14 metres at 3.56 g/t from 33 metres, including 4 metres at 7.70 g/t from 36 metres and 1-metre at 7.16 g/t from 44 metres;
- 3 metres at 4.93 g/t from 79 metres, including 1-metre at 8.52 g/t from 79 metres.
The current resource extension drilling campaign will be completed by the end of November 2022, with the results received to date incorporated into the mineral resource update which is scheduled to be finalised by the end of this year.
This resource update will provide important data to be utilised in the ongoing studies aimed at re-assessing and optimising the project design and seeking to capitalise on targeted economies of scale.