Geopacific Resources Hits Further Gold at Kulumadau

THE DRILL SERGEANT: Geopacific Resources (ASX: GPR) announced results from ongoing development drilling at the Kulumadau deposit of the company’s Woodlark gold project, east of Port Moresby in the Milne Bay Province of PNG.

The Woodlark project is a joint venture with Kula Gold (ASX: KGD).

Geopacific Resources said the drilling has continued to encounter broad widths of high-grade gold mineralisation from shallow depths at Kulumadau.

The current development drilling at Kulumadau has targeted inferred resources both in and near the 2012 pit designs, as well as modelled extensions to mineralisation charged with the task of increasing the JV’s confidence in the current resource inventory for potential inclusion in future reserve calculations.

The drilling identified an 84 metre-wide zone of mineralisation over numerous intercepts in hole KU17RD047 including:

10 metres at 7.84 grams per tonne gold from 53m;

13m at 3.11g/t gold from 82m; and

12.3m at 2.23g/t gold from 137.7m.

A 50m-wide zone of mineralisation over numerous intercepts was also encountered in hole KU17DD016 including:

4m at 2.32g/t gold from 219m;

18m at 3.39g/t gold from 229m; and

13m at 1.68g/t gold from 256m.

“Delivering a robust feasibility on Woodlark remains our focus,” Geopacific Resources managing director Ron Heeks said in the company’s announcement to the Australian Securities Exchange.

“The success of these results continues to validate our strategy to deliver Woodlark into production, after which we will turn our attention to unlocking the significant exploration potential of the project.”

Geopacific highlighted the continued drilling success outside the current resource inventory, saying it highlights the inherent prospectivity of the Woodlark gold project.

Email: info@geopacific.com.au

Website: www.geopacific.com.au