Particular report: Geopacific Assets’ newest floor trenching outcomes affirm extra development potential on the 1.67Moz Woodlark Venture, with high-grade gold found on the Little MacKenzie prospect and a major 30,000m drill marketing campaign underway.
The newest trenching marketing campaign has considerably prolonged identified floor mineralisation within the space, with standout gold intersections over a 1km strike together with 6m at 6.24g/t of gold, 2m at 16.6g/t gold and 10m at 4.33g/t gold.
These outcomes construct on Geopacific Resources (ASX:GPR) earlier floor auger sampling in the identical areas, which revealed multiple zones grading over 1g/t gold and peak assays up to a jaw-dropping 63.6g/t. These spotlight the PNG mission’s important exploration upside as the corporate works in the direction of completion of its definitive feasibility examine by the top of this yr.
The trenching is a part of an ongoing program of discipline mapping and sampling actions on the under-explored southwest nook of the mission inside the Woodlark King mining centre.
This already comprises 1.97Mt at 1.04g/t gold for 66,000oz inferred at Wayai Creek, and 5.26Mt at 0.85g/t for 142,000oz gold inferred and indicated at Woodlark King.
CEO James Fox stated: “These trenching outcomes affirm the sturdy prospectivity of the broader Woodlark King space, with the high-grade auger outcomes and intensive floor anomalies extending identified mineralisation over an approximate 1km north-south strike extent.”
“A second diamond rig has now arrived on web site to enrich the prevailing diamond and RC rigs, together with extra earthmoving tools to help with street and pad development.
“The Little MacKenzie and Wayai Creek targets are shaping up as compelling additions to our pipeline. With a serious 30,000 metre drill program properly underway, we’re excited by the potential to construct on our 1.67Moz useful resource base.”
Drilling to DFS
First assays for the 30,000m drill drive are anticipated later this month. GPR is focusing on new discoveries and useful resource extensions, together with Woodlark’s potential to host a porphyry-style mineralisation, in addition to geotechnical information for the DFS.
An impartial examine by porphyry specialist Dr Bruce Rohrlach outlined 14 porphyry-style targets, with three high-priority zones set for future testing.
Porphyry deposits are a serious supply of gold, copper and silver, which suggests these targets have the potential to considerably add to the mineral endowment of the district.
Up to now, Geopacific has accomplished 43 primarily RC pre-collars for 3,139 m, with diamond drilling at key places such because the plant web site and Kulumadau, and RC drilling at Busai (Federation and Vulcan), Kamwak, and Boscalo North. A second diamond rig is now on web site to speed up drilling on the Nice Northern deposit.
In the meantime the DFS is on monitor for launch late in This fall 2025 for the mission, with key licences already in place.
Forward of the scheduled DFS, mid-tier gold miner St Barbara (ASX:SBM) is about to develop into a 14.4% strategic shareholder in GPR through a share swap with Patronus Assets (ASX: PTN).
It will convey important native working experience to Geopacific’s register, topic to Patronus shareholder approval at a common assembly on August 20, as St Barbara operates the Simberi mine in PNG.