Geopacific Resources has plans to target four key areas of known high-grade mineralisation at its Woodlark gold project in the Milne Bay Province of PNG.
The company said exploration targeting has been materially improved with a substantially expanded integrated geological database, defining priority targets with the potential to host significant gold mineralisation.
“The recently completed review shows there is significant scope to grow the 1.56 million-ounce gold resource at Woodlark,” Geopacific chief executive officer James Fox said.
“An increased metal inventory will drive a host of economic benefits for the project, including potential for increased cashflow, stronger financial returns, and extended mine-life.
“Importantly, numerous high-grade gold intercepts already exist across four priority target areas that have been identified through assessment of the integrated geological database.
“The team has been working hard on capturing new, and digitising historic data, to build out the exploration vectors to support the targeting process.
“On-ground assessment and mapping will continue prior to trenching and drill-testing. We look forward to discovering new and extending the known near-surface gold mineralisation.”
The exploration focused on capturing new data and digitising historic data to build out various exploration vectors, including prospective geology, magnetics, structure, geochemistry, and historic drilling to support the key elements of the targeting process.
In addition to the four areas of focus, a large-scale untested mineralised corridor immediately north of the main Kulumadau West high-grade zone provides promising upside to extend near surface resources.
Mining in the region is already well established, and the PNG Government has confirmed its support for the project.
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