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Geopacific Resources Ltd.
Summary
| Project: | Woodlark | |
|---|---|---|
| Deposit: | Great Northern | |
| Location: | Papua New Guinea | |
| Commodities: | Gold | |
| Date: | 9/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 19-9-2018: Geopacific Resources Ltd. announces an Exploration/Drilling Update report for its Great Northern deposit at the Woodlark project. Drilling results incl. 10.0m @ 5.41g/t Au from 74m. Geopacific Resources Ltd (Geopacific ASX: GPR) is pleased to p | |
| Resources: | (Reserve, P+P): 34.7Mt @ 0.99g/t Au for 1.1016Moz Au contained | |
| CP/QP: | [Overall Report]: James Kerr (Internal) | |
| ABSTRACT: | Geopacific Resources Ltd (Geopacific ASX: GPR) is pleased to provide an update on results returned from a scout diamond drilling program at the Great Northern prospect, Woodlark Island. The Great Northern prospect, located only ~800m northeast of the 784,000 ounce Kulumadau deposit (Figure 2), has several historical drill holes with significant gold values including 20m @ 4.39g/t Au. Great Northern forms a priority target for potential resource definition. A recently-completed surface channel sampling program of exposed rocks along the Kweiyau Fault returned an intercept of 18m @ 2.08g/t Au and appeared to confirm this theory. Drilling encountered significant fault-related clay rich zones, and significant zones of quartz-carbonate veining with sulphides. These features are similar to the Kulumadau deposit. Several high-grade values were encountered in drilling (KU18DD003: 1m @ 19.4g/t Au from 92m; KU18DD005: 1m @ 25.1g/t Au from 81m), indicating both the highly mineralised nature of the Kweiyau Fault zone and the potential for high grade gold values to persist at depth and along strike. Managing Director, Ron Heeks commented “The results at Great Northern have confirmed and extended the zones from historical drilling. The area was the first tested under the current “bigger picture” resource drilling program aimed to highlight the full potential of the Woodlark mineral field. Diamond drilling was used initially to provide a greater understanding of the geology and mineralisation of the area. A planned follow-up phase of RC drilling will further define the mineralisation and move it towards the resource category for future exploitation.” | |
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