- Geopacific Resources (GPR) intersects up to 300 g/t gold at the Woodlark gold project in Papua New Guinea
- A diamond rig arrived on site in July to assess extensions of the resource below the existing pits
- A broader mining lease exploration program has also been completed at Watou and Talpos with up to 3.66 g/t gold intersected
- The company expects to deliver an updated mineral resource estimate before the end of the year
- Geopacific is steady on the market with shares trading at 6.6 cents at 2:41 pm AEDT
Geopacific Resources (GPR) has intersected up to 300 grams per tonne (g/t) gold at the Woodlark gold project in Papua New Guinea.
A diamond rig arrived on site in July to facilitate drilling at depth to assess extensions of the resource below the existing pits.
Drilling initially focused on the Busai deposit where 11 holes were drilled and a best intercept of six metres at 300 g/t gold from 143 metres encountered.
Other results include three metres at 12.6 g/t gold from 124 metres, three metres at 4.23 g/t gold from 28 metres, and nine metres at 1.65 g/t gold from 131 metres.
These results support Geopacific’s view that the resource extends at depth below the existing pit.
Now that both reverse circulation (RC) and diamond drilling have wrapped up, the rigs will test the lateral and down dip extensions at Kulumadau.
A broader mining lease exploration program has also been completed with results highlighting the prospectivity of Watou and Talpos.
Results include three metres at 3.66 g/t gold from 32 metres, eight metres at 1.94 g/t gold from 53 metres, and seven metres at 1.58 g/t gold from 124 metres.
An updated mineral resource estimate is expected to be released in Q4 2022.
“The ongoing drilling campaign continues to highlight the potential to grow resources at Woodlark Island,” CEO Tim Richards said.
“The mining lease exploration campaign has captured a significant amount of new data, improving our knowledge of the broader geological trends on the island, while we are encouraged by the success of the resource extension drilling undertaken to date and remain on track to deliver a resource update by the end of 2022.”
Geopacific was steady on the market with shares trading at 6.6 cents at 2:41 pm AEDT.