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Geopacific Resources Ltd.
Summary
| Project: | Woodlark | |
|---|---|---|
| Deposit: | Busai | |
| Location: | Papua New Guinea | |
| Commodities: | Gold | |
| Date: | 2/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-2-2017: Geopacific Resources Ltd. announces an Exploration/Drilling Update report for its Busai deposit at the Woodlark project. JV with Kula Gold Ltd. - New assay (of historic core) results incl. 26m @ 3.17g/t Au from 70m. The Board of Geopacific Reso | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jim Kerr (Internal) | |
| ABSTRACT: | The Board of Geopacific Resources Ltd (Geopacific) is pleased to provide the assay results from the Woodlark Gold Project (Woodlark) which extend mineralisation at the Busai deposit to the south of the current pit design. Geopacific has assayed an historic, geotechnical drillhole from the Busai deposit. The diamond drillhole was designed to test the strength of the proposed pit wall in 2008 and was consequently drilled oblique to the normal drilling direction. Geopacific re-logged the core and identified the potential for mineralisation as part of its review process. Geopacific Managing Director Ron Heeks said “These new results from the historic geotechnical hole show that there is excellent potential for mineralisation below and adjacent to the current pits to be identified and added to the overall Reserve inventory at Woodlark. These results continue to validate our strategy to identify additional, significant gold mineralisation and at nearly no cost to Geopacific. Drilling is now planned in this area.” Numerous geotechnical and metallurgical holes were drilled at Woodlark as part of the original Definitive Feasibility Study prepared in 2012, a number of which were not assayed. Geopacific has sent all holes which were not previously sampled to be analysed. These are the first results received, with more to follow, providing Geopacific a cost-effective method to identify additional mineralisation. Geopacific’s current development drilling is now targeting extending this and similar zones. Holes that are designed to test the extent of this new mineralisation have been added to the programme. | |
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