Geopacific Resources Limited (ASX.GPR) ('GPR' or the 'Company') is pleased to announce significant gold results from surface auger sampling at the Wayai Creek SSW and Little MacKenzie prospects within its 100% owned 1.67 Moz Woodlark Gold Project in Papua New Guinea ('Woodlark', the 'Project').
The auger sampling is part of an ongoing program of field mapping and sampling activities focussed on the under-explored southwest corner of the Project, part of the Woodlark King Mining Centre. The area is highly prospective and is supported by favourable host lithology, complex magnetic responses, favourable structures, and anomalous geochemistry, indicating significant potential to host economic gold mineralisation. Analysis of the results has highlighted several large coherent >0.1 g/t gold anomalies with peak result to 63.6 g/t Au at the northernmost sample line at Little MacKenzie where it remains open to the north, and numerous adjacent samples of over 1.0 g/t Au in both locations.
These prospects will be progressively advanced through further surface sampling and trenching prior to drilling later in 2025 as part of the current exploration drill program. A total of 30,000 metres of RC and diamond drilling is scheduled to commence in June 2025 to extend known gold mineralisation and test new targets to increase mineral resources. Geopacific CEO James Fox said: 'These results confirm the strong prospectivity of the Woodlark King area, with high-grade auger results and extensive surface anomalies extending known mineralisation.
The Little MacKenzie and Wayai Creek targets are shaping up as compelling additions to our pipeline and with a major 30,000 metre drill program set to commence this month, we are excited by the potential to build on our 1.67 Moz resource base.' Discussion Using a conventional hand auger to a depth of less than one metre, 635 samples were collected in two locations, at Little MacKenzie and Wayai Creek, along 100 m (approximate N-S to NE-SW) spaced lines at 10-20 m approximate (E-W to NE-SW) spacing, and then assayed for gold and multi-elements.
The new, undrilled surface gold anomaly at Little MacKenzie has been traced over a >0.5 km strike extent and appears to follow a key WNW trending structure to the west of the main >1.0 km surface mineralised zone. Trenching is underway and will be extended into this location to determine the orientation of mineralisation prior to drill-testing. Surface mineralisation has also been extended by >0.5 km immediately along strike to the southeast of the Wayai Creek gold deposit (1.97 Mt @ 1.04 g/t Au for 66 koz Inferred), with two new sub-parallel zones >1.2 km total strike extent defined immediately to the west of the NE zone which contains the Wayai Creek gold deposit. The area is now host to an extensive mineralised surface footprint that warrants further assessment and drill testing. Drill planning continues to be refined, taking into consideration these auger sampling results. In total, 174 drill collars for approximately 30,000 m of RC and diamond drilling 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 drilling2 . The sequence of drilling will prioritise those areas such as Little MacKenzie where the targets are well-defined, have good access and a high degree of confidence in potential for mineralisation relative to more regional exploration prospects.
Little Mckenzie Results
Several coherent >0.1 g/t Au in soil anomalies have been delineated within a larger mineralised footprint over the north-south striking mineralised ridge that define the prospect. A new western anomaly appears to trace a key structure trending WNW that remains untested by drilling. There is a clear demarcation along the eastern side of the surface mineralisation defining a sharp tapering off in gold grades and inferred to be associated with NNW striking intermediate intrusives. The auger results have significantly improved confidence in the definition of surface mineralisation and has allowed for improved siting of trenching over the >1 km strike in surface mineralised zones. Excavation and sampling of the southern trenches has commenced, Brecciated zones >60 m wide have been mapped with some free gold identified in brecciated volcanics. Trenching will continue northwards with assay results anticipated throughout the program until completion in Q3 2025. Final drill collar planning will follow the review of the trench results with 23 reverse circulation and diamond drillholes currently planned as part of the Phase 1 program.
Company details Board & Management Projects Geopacific Resources Limited ACN 003 208 393 ASX Code: GPR info@geopacific.com.au http://www.geopacific.com.au T +61 8 6143 1820 HEAD OFFICE Level 1, 278 Stirling Highway Claremont WA 6010. PO Box 439, Claremont WA 6910.
Competent Persons Statement
The information in this announcement that relates to exploration results is based on information compiled by or under the supervision of Michael Woodbury, a Competent Person who is a Fellow, and Chartered Professional (CP) of The Australasian Institute of Mining and Metallurgy, and Member of Australian Institute of Geoscientists and a full time employee of Woodlark Mining Limited (wholly owned subsidiary of Geopacific). Mr Woodbury has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Woodbury consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. The information in this report that relates to Woodlark Mineral Resources is based on information compiled and reviewed by Mr Chris De-Vitry, a Competent Person who is a Member of the Australian Institute of Geoscientists and a full-time employee of Manna Hill Geoconsulting Pty Ltd. Mr De-Vitry has sufficient experience which is relevant to the style of mineralization and type of deposits under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code 2012 and is a qualified person for the purposes of NI43-101. Mr De-Vitry has no economic, financial, or pecuniary interest in GPR and consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
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