Geopacific Resources Ltd (ASX:GPR) has continued to deliver encouraging results from its drilling operations at the Kulumadau and Busai pits within the Woodlark Gold Project in Papua New Guinea.
Results from grade control drilling at Kulumadau pit continue to highlight upside potential within the existing pit shells, intersecting shallow high-grade gold results including:
- 58 metres at 4.67g/t gold from surface;
- 39 metres at 5.33g/t from 21 metres; and
- 16 metres at 3.96g/t from 35 metres.
In addition, encouraging results were received from resource extension drilling at Busai and Kulumadau pits, all within 100 metres from the surface including:
- 14 metres at 5.01g/t gold from 73 metres;
- 17 metres at 0.97g/t from 22 metres; and
- 12 metres at 0.76g/t from 65 metres.
Moving forward, Geopacific’s focus has now shifted to exploration, targeting significant near pit potential including areas previously inaccessible due to the proximity of the local community.
“Considerable upside potential”
Geopacific CEO Tim Richards said: “The drilling campaign continues to deliver exceptional results.
“Grade control drilling supports our view that there is considerable upside potential within the existing pit shells, while first results from resource extension drilling highlight the exciting opportunity for further discoveries across the mining lease.
“We look forward to receiving further results as assays are received and our step-out drilling program continues.
“These results reinforce our view that the current pit shells are constrained by data, not geology.”
Grade control drilling
Geopacific had undertaken grade control drilling to further define near-surface ore zones at Stage 1 of the Kulumadau pit.
Notably, drilling to date indicates potential upside to the high-grade zone.
A reconciliation of the grade control model to the mineral resource will be undertaken upon the receipt of all outstanding samples which will allow the company to quantify whether resource upside exists within the existing Kulumadau pit shell.
Exploration drilling
A larger drill rig was mobilised to the site in January this year to facilitate the drilling of deeper holes to test down dip and extension targets associated with the current pits.
The drill results indicate mineralisation extends down-dip of the current pit shells, which provides positive indications of the potential to increase the size of the Kulumadau and Busai pits.
Forward plan
A further 50 grade control holes and nine resource extension holes have been completed with samples currently in the laboratory awaiting assay.
The ongoing drilling program focus has now shifted to exploration, targeting significant near pit potential including areas previously inaccessible due to the proximity of the local community.
Furthermore, targets include numerous high-grade prospective areas within the mining lease, with visible gold at surface.