- Geopacific Resources (GPR) begins drilling at the Woodlark gold project in Papua New Guinea
- Drilling will be undertaken by QED Exploration Drilling with the first phase of drilling to consist of grade control and near pit extension drilling
- Focus will initially be on the Kulumadau pit and will be followed by first ore mining to further outline and refine the resource
- Additionally, construction and development activities are underway with contractor GR Engineering Services mobilised to site
- GPR ends the day 10.3 per cent in the green with shares trading at 32 cents
Geopacific Resources (GPR) has begun drilling at the Woodlark gold project in Papua New Guinea.
The Woodlark Project lies in the ‘pacific rim of fire’ and is surrounded by world class gold mines.
Drilling will be undertaken by drilling contractor QED Exploration Drilling.
This first phase of drilling will see a combination of grade control and near-pit extension drilling over 20,000 metres.
This represents the first reverse circulation (RC) drilling program undertaken at Woodlark since 2018.
Focus will initially be on the Kulumadau pit and will be followed by first ore mining to further outline and refine the resource.
Following this drilling, the RC drill rig will move into exploration drilling with 40,000 metres planned through to Q4 2022.
Furthermore, construction and development activities are underway with contractor GR Engineering Services (GRES) mobilised to site.
CEO Tim Richards spoke on the commencement of the drilling program.
“The commencement of an extensive drilling campaign will provide enhanced grade control for the initial mining plans for the high margin Woodlark Gold Project,” Mr Richards said.
“There remains significant exploration potential at the project and the exploration drilling will focus primarily on defining near pit potential as well as defining other targets in our mining licence area in due course.”
GPR has ended the day 10.3 per cent in the green with shares trading at 32 cents in a $150.5 million market cap.