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Geopacific makes new gold discovery at Woodlark project in Papua New Guinea

Geopacific Resources has provided assay results showing new gold intersections from the Boscalo area of the Woodlark Gold Project (Woodlark) in Papua New Guinea (PNG).

Highlights

  • Gold discovery confirmed
  • Results include :

          – 12m @ 7.45g/t Au

          – 20m @ 1.77g/t Au

          – 20m @ 1.71g/t Au

          – 7m @ 5.25 g/t Au

  • Potential for repetition across large regional goldfield

New zones confirmed

Originally thought to be an extension of the mineralisation at Kulumadau East, Geopacific confirms that Boscalo represents the discovery of a significant new zone of gold mineralisation, situated adjacent to the Kulumadau East deposit.

The main zone strikes to the north-west and is currently delineated over a two-hundred-metre-length using shallow RC drilling and mineralisation remains open. In addition to the main zone, a parallel zone of mineralisation between Boscalo and Kulumadau East has also been identified. Both zones are expected to make a valuable contribution to gold ounces within the planned Kulumadau open pit.

Boscalo

Boscalo was first identified with several broad and high-grade intercepts in June.

The mineralisation at Boscalo is typical of low s ulphidation epithermal deposits. Grade is variable within the mineralised envelope, host rocks are fractured and brecciated and a complex hydrothermal alteration system associated with mineralisation is evident.

Geometry and grade distribution appear to describe laterally and vertically variable zones of high grades within a much broader, mineralised envelope, as indicated on the oblique section. The orientation of the mineralised zone at Boscalo is different to Kulumadau East, striking to the north-west as opposed to the more north-south strike of Kulumadau East.

The close proximity of Boscalo and the parallel zone to the Kulumadau East deposit is evide nt in the drillhole location plan below, showing the potential for this mineralisation to be included into future pit designs.

Geopacific has drilled 45 holes to date at Boscalo, with assay results pending for 22 holes. The majority of holes have been dri lled to a shallow depth of 120 metres with some holes reaching 140 metres. Drilling continues at Boscalo and the parallel zone to fully delineate the mineralised zones in these areas.

Managing director, Ron Heeks said

“It’s always encouraging to make a new discovery and it shows the fantastic opportunity we have to elevate our regional exploration program, by leveraging the discoveries made in the past and uncovering new zones of gold mineralisation currently hidden beneath the limestone veneer. We already know the gold is there, it’s a matter of studying the data to establish which areas present the most attractive targets for our ongoing explorat ion program ”.

The Boscalo discovery as an indicator for further discoveries

The Kulumadau East deposit is a ‘blind’ deposit, covered by a thin veneer of limestone which covers the majority of the Island. The Boscalo discovery is also ‘blind’ and similarly covered by the limestone veneer. Modern exploration techniques present an opportunity to replicate these successes and make further ‘game – changing’ gold discoveries beneath the limestone.

Understanding the mineralisation holds the key to de -risking operations at Woodlark

Geopacific’s team has substantial experience in exploring and mining epithermal deposits in the Asia Pacific region, this expertise is being applied to the Project to maxim ise the economic potential of the deposits.

Looking at the nature of mineralisation at Boscalo, a mining operation where the geometry and grade can be captured within the larger, run-of-mine grade envelope is expected to present the most effective method to maximise Woodlark’s economic potential.