Geopacific Resources Ltd has confirmed a promising gold discovery has been made at one of the most historic gold mining locations in Papua New Guinea.
The company said assay results showing new gold intersections from the Boscalo area of the Woodlark Gold Project included:
- 12m @ 7.45g/t Au
- 20m @ 1.77g/t Au
- 20m @ 1.71g/t Au • firstname.lastname@example.org/tAu
- Potential for repetition across large regional goldfield New zones confirmed
Originally thought to be an extension of the mineralisation at Kulumadau East, Geopacific said it has confirmed that Boscalo represents the discovery of a significant new zone of gold mineralisation, situated adjacent to the Kulumadau East deposit.
Geopacific managing director, Ron Heeks said that 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.
“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,” Mr Heeks said.
“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 exploration program”.
He said 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.
Mr Heeks said 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 maximise 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,” Mr Heeks said.
Boscalo was first identified with several broad and high-grade intercepts in June.
Geopacific has drilled 45 holes to date at Boscalo, with assay results pending for 22 holes. The majority of holes have been drilled 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.