Photo credit: Geopacific Resources - Figure 1: Mining Lease exploration target areas
Geopacific Resources Limited is pleased to provide an update on its exploration drilling campaign at the Woodlark Gold Project.
Highlights
- Drill holes in to the Talpos and Watou targets generated several positive results including:
Talpos
- TARC22008: 11 metres at 3.04g/t Au from 49 metres and 11 metres at 0.74g/t Au from 63 metres; and
- TARC22003: 3 metres at 2.66g/t Au from 32 metres.
Watou
- WTRC22006B: 10 metres at 2.80g/t Au from 68 metres, including 4 metres at 5.35g/t Au from 69 metres.
- The Company has received the first 18 holes from the recently undertaken regional drilling campaign at the Project.
- Results highlight the potential of the Talpos and Watou targets, located at the southern end of the Mining Lease, and demonstrate the broader regional exploration opportunities on Woodlark Island.
- A further 7 holes from the exploration campaign have been completed with samples currently in the laboratory awaiting assay.
- The RC drilling program is ongoing and drilling activities will accelerate following the arrival of a diamond drill rig.
- These results at Watou and Talpos continue to grow the broader geological understanding of the Woodlark Gold Project and reinforce the potential for resource growth to be delivered by testing priority exploration targets across the Mining Lease.
Chief Executive Officer, Tim Richards commented “The infill, resource extension and now Mining Lease exploration drilling programs are essential inputs into the ongoing Woodlark Island re-evaluation and optimisation process. These drilling programs deliver key technical inputs that are integral for project reassessment. Geopacific remains on target to deliver a resource update in Q4 2022 along with further drilling to validate of the exploration potential on the Mining Lease and potentially other targets.”
Mining Lease Exploration
Geopacific continues to execute the resource and exploration strategy outlined in the May 2022 Corporate presentation. The company continues to deliver on the drilling activities and timeline outlined in the 2022 Planned work program. Post the completion of the grade control drilling campaign at Kulumadau, the Company commenced an exploration drilling program across the broader Mining Lease. The Mining Lease contains a number of targets that have not previously been subject to drilling and the campaign is designed to begin to test the prospectivity of these targets. The Talpos and Watou targets in the southern end of the Mining Lease were the initial focus of the campaign, and to date an initial 25 exploration holes have been drilled. Mining Lease exploration drilling will continue into the future, to test these and other targets.
Full press release can be found HERE
