Geopacific Resources Limited is pleased to announce that a major 30,000 metre RC and diamond drilling campaign has commenced at its 100% owned 1.67 Moz Woodlark Gold Project in Papua New Guinea (‘Woodlark’, the ‘Project’), with the aim of extending known gold mineralisation and testing new targets to increase the Projects Mineral Resources.
In total, 174 drill holes have been planned in a staged approach. The exploration drill program is broadly split into three categories; exploration targets, targets with potential for new Mineral Resources, and resource development drilling (Figure 1)3 to support the upcoming Definitive Feasibility Study (DFS). The sequence of drilling will prioritise areas where the targets are well-defined, have good access and a high degree of confidence in the potential for mineralisation relative to more regional exploration prospects.
Geopacific CEO James Fox said: “Following the successful mobilisation of equipment and personnel safely to the Project, we are pleased to have commenced drilling at Woodlark. This is the most significant exploration campaign the Company has undertaken in several years and is expected to continue into 2026. With numerous highly prospective targets to be tested, this program is a major step forward in unlocking further value from, and expanding, our 1.67 Moz resource base.”
Exploration Drilling
RC drilling at Boscalo North, to the north of Kulumadau, is targeting near surface mineralisation4 along the same structural corridor as the main Kulumadau West zone (host to 1.78 Mt @ 4.9 g/t for 279,600 oz Au 5 ). The target zone is coincident with a magnetic signature synonymous with gold mineralisation. Six (6) holes for approximately 900 m are planned.
The Great Northern gold deposit (0.75 Mt @ 1.53 g/t Au for 37,000 oz Au (Inferred)) 1 contains high-grade nearsurface mineralisation that remains open over an approximate 300 m strike extent along the Kweiyan Fault (WSW to ESE control).
Limited drilling exists along the structural zone and the existing deposit that may be part of a much larger accumulation that has not yet been tested with drilling. Nine (9) holes for approximately 1,450 m (RC and DD) are planned.
Recent field work at the Little MacKenzie and Wayai Creek prospects, part of the Woodlark King Mining Centre (Figure 1) in the under-explored southwest corner of the Project, highlighted several large coherent >0.1 g/t gold anomalies with a peak result to 63.6 g/t Au6 at the northernmost sample line at Little MacKenzie, where the mineralisation remains open to the north. Multiple adjacent samples exceeding 1.0 g/t Au have also been returned in both prospects. Trenching is ongoing at Little Mackenzie with further assays expected in July 2025. Drilling will commence on these targets after the completion of the Boscalo North and Great Northern programs.
Project Development Update
The diamond drill rig is completing geotechnical drilling as part of the assessment of ground conditions at key infrastructure locations, including that of the Process Plant (‘Plant’). It will then head to Kulumadau and Busai for geotechnical holes to support the DFS mining studies including pit design.
A second diamond drill rig is expected to arrive on site during Q3 2025 to accelerate the exploration drilling.
GR Engineering have advanced the updated Plant design, with vendor quotes for major capital plant items being sourced. Detailed design of the Plant civil works will take place at the completion of the geotechnical studies.
The mining consultancy contract has been awarded for undertaking mine optimisation, pit and dump designs and all production scheduling and cost forecasting. This critical body of work will be completed during Q4 CY25 in advance of DFS delivery.
The consultancy agreements for critical infrastructure design and engineering required for the Project, including employee accommodation and wharfing facilities are also well advanced and expected to be awarded in due course.
The aim of the DFS, based on the 2024 Woodlark Scoping Study7 (‘Study’), is to finalise the various operational parameters, optimise the process plant and infrastructure design, and to provide essential validation for the technical, economic, and operational feasibility of the Project.
The Study confirmed the Project is technically robust and capable of generating significant free cash flows. The current spot gold price of A$5,185/oz8 is approximately 79% higher than the gold price used to inform the Study financial model of A$2,900/oz, and will significantly increase the Project financial metrics allowing flexibility to maximise Project returns.
The Company continues to work with its environmental consultants, Erias Group Pty Ltd, to advance the technical studies required to support the updated environmental approvals for the Project, including up to a 3.5 Mtpa throughput rate to allow for flexibility when finalising process plant engineering work. The updated Environmental Assessment Report is expected to be submitted late June 2025.
The official press release can be found HERE
