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Geopacific Resources Ltd.
Summary
| Project: | Woodlark | |
|---|---|---|
| Deposit: | Kulumadau | |
| Location: | Papua New Guinea | |
| Commodities: | Gold | |
| Date: | 12/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-12-2017: Geopacific Resources Ltd. announces an Exploration/Drilling Update report for its Kulumadau deposit at the Woodlark project. JV - Drilling results incl. 37m @ 6.21g/t Au from 23m. The Board of Geopacific Resources Ltd (Geopacific) is pleased t | |
| 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 gold assay intersections from the Woodlark Gold Project (Woodlark) in Papua New Guinea (PNG). The latest results comprise a series of compliance drill holes designed to meet JORC 2012 standards, prior to releasing interim resource and reserve estimates. Geopacific, with assistance from independent resource consultant, MPR Geological Consultants, have undertaken an extensive review and validation process to determine the veracity of the historical geological data at Woodlark. This process identified some historic RC drill-holes that would not pass modern QAQC (quality assurance and control) standards. As a result, a confirmation drilling program was designed to ensure that the geological modelling meets JORC 2012 standards. The program required a series of ‘twin’ and replacement holes, which have now been completed. Results received to date (included below) are generally better than previously indicated and are consistent with the grades and mineralisation expected. In addition to the confirmation program, Geopacific undertook a geological reinterpretation of over 275,000 metres of previous drilling, re-assaying selected core at independent laboratories and combining this with over 28,000 metres of new drilling to improve the quality of the geological database. The database contains a high proportion of diamond drilling relative to RC drilling, which is considered preferable in deposits of this nature. Geopacific has also introduced the use of bestpractice methods for data capture and QAQC monitoring. Geopacific’s rigorous approach to accurately define resources is expected to reduce the risks associated with mining the deposits. | |
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