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Geopacific Resources Ltd.
Summary
| Project: | Woodlark | |
|---|---|---|
| Deposit: | Kulumadau | |
| Location: | Papua New Guinea | |
| Commodities: | Gold | |
| Date: | 8/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-8-2017: Geopacific Resources Ltd. announces an Exploration/Drilling Update report for its Kulumadau deposit at the Woodlark project. JV with Kula Gold Ltd. - Drilling results incl. 10m @ 7.84g/t Au from 53m. The Board of Geopacific Resources Limited (G | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jim Kerr (Internal) | |
| ABSTRACT: | The Board of Geopacific Resources Limited (Geopacific) is pleased to provide further results from ongoing development drilling at the Kulumadau deposit of the Woodlark Gold Project (Woodlark), held in joint venture with Kula Gold Limited (ASX:KGD). Drilling continues to encounter broad widths of high-grade gold mineralisation from shallow depths at Kulumadau. Current development drilling at Kulumadau has targeted inferred resources both in and near the 2012 pit designs, as well as modelled extensions to mineralisation. The aim of this drilling is to increase confidence in the current resource inventory for potential inclusion in future reserve calculations. Continued drilling success outside the current resource inventory highlights the inherent prospectivity of the Woodlark Gold Project. A detailed evaluation of the Kulumadau West deposit, including re-logging historical drilling, has helped define structural elements thought to control emplacement of gold mineralisation. Although structurally complex, geological modelling has confirmed that mineralisation shows good strike-continuity and has enabled the targeting of likely in-pit zones of mineralisation that until now remained inadequately tested. Figure 1 shows that the orebody continues as a broadly-mineralised package of cataclasites opposed to a narrow, steeply dipping body that pinches out at depth, as previously interpreted. Cataclasites are strongly fractured rocks that exhibit symptoms of rock fragments being milled down to very fine fragments through continuous movement along a fault plane. Hole KU17DD016 intersected strong zones of mineralisation below the current pit design, confirming continuation of mineralisation at depth. | |
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