Woodlark Island gold explorer Geopacific Resources Ltd has reported further strong gold assay intersections from the Woodlark Gold Project.
The latest results comprise a series of compliance drill holes designed to meet JORC 2012 standards, prior to releasing interim resource and reserve estimates.
Highlights: • High level of QAQC provides confidence in geological database
- Resource and Reserve estimates on track for Q1 2018
- New geological model maximises projected gold recovery
- Confirmation of numerous high-grade zones including: * 37.0m @ 6.21g/t Au; 25.0m@ 6.27g/t Au; 16.0m @ 11.00g/t Au; 12.0m @ 9.04g/t Au; 7.7m @ 9.11g/t Au; 22.0m @ 3.43g/t Au; and 41.0m @ 4.50g/t Au
- Further confirmation of broad zones of >0.5g/t mineralisation surrounding higher-grade intersections
Geopacific, with assistance from independent resource consultant, MPR Geological Consultants, hasundertaken an extensive review and validation process to determine the veracity of the historical geological data at Woodlark.
This process identified some historic RC drill-holes that would not pass modern QAQC (quality assurance and control) standards.
As a result, a confirmation drilling programme was designed to ensure that the geological modelling meets JORC 2012 standards.
The programme required a series of ‘twin’ and replacement holes, which have now been completed.
Results received to date (included below) are generally better than previously indicated and are consistent with the grades and mineralisation expected. In addition to the confirmation programme, Geopacific undertook a geological reinterpretation of over 275,000 metres of previous drilling, re-assaying selected core at independent laboratories and combining this with over 28,000 metres of new drilling to improve the quality of the geological database.
The database contains a high proportion of diamond drilling relative to RC drilling, which is considered preferable in deposits of this nature.
Managing director, Ron Heeks said Geopacific’s rigorous approach to accurately define
Geopacific will finalise resource estimates for the Kulumadau, Busai and Woodlark King deposits on receiving final assays. Independent geotechnical, metallurgical and mining cost studies running in conjunction with drilling programs will be completed simultaneously, allowing the release of Resource and Reserve estimates in Q1 2018.
These estimates will be Geopacific’s first estimates following a substantial body of work over the last 12 months.
The estimates are designed to form a reliable base which can be increased as the regional exploration potential of the broader goldfield is uncovered.
“We now have a high level of confidence in the quality of the resource data,” Mr Heeks said.
“We understand the value of accurate resource modelling in ultimately reducing mining risk. This is a key driver for us because we aim to build a robust mine at Woodlark.
“It’s taken a little longer than anticipated to reach this point, however we believe the quality results of the Resources and Reserve estimates will speak for themselves.
“Moving forward, it will be easier to expand as our focused exploration yields the multi-million-ounce potential of this large goldfield