Geopacific Launches Major Drilling Campaign to Expand 1.67 Moz Woodlark Gold Project
Geopacific Resources (ASX: GPR) has commenced a significant 30,000-meter drilling program at its wholly-owned Woodlark Gold Project in Papua New Guinea, targeting resource expansion while advancing its Definitive Feasibility Study (DFS).
Ambitious Drilling Program Targets Resource Growth
Geopacific has launched its most extensive exploration campaign in years, with 174 planned drill holes across multiple high-potential targets. This strategic drilling program aims to extend known gold mineralisation and test new porphyry targets to increase the project's current 1.67 million ounce gold resource.
The drilling campaign, expected to continue into 2026, has initially focused on the Boscalo North and Great Northern prospects, where historic drilling has indicated promising near-surface, high-grade gold mineralisation. First assay results from these areas are expected as early as August 2025.
"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." – James Fox, Geopacific CEO
Priority Exploration Targets
The drilling program is strategically prioritising areas with:
- Well-defined targets
- Good access
- High confidence in mineralisation potential
Key initial drilling targets include:
| Target | Details | Planned Drilling |
|---|---|---|
| Boscalo North | Located north of Kulumadau along the same structural corridor as Kulumadau West (1.78 Mt @ 4.9 g/t for 279,600 oz Au) | 6 holes, approx. 900m |
| Great Northern | Existing 37,000 oz Au resource (0.75 Mt @ 1.53 g/t) with high-grade near-surface mineralisation open along 300m strike | 9 holes, approx. 1,450m (RC and DD) |
| Little MacKenzie | Recent high-grade auger sampling with peak result of 63.6 g/t Au, remaining open to the north | Planned following initial programs |
| Wayai Creek | Part of under-explored Woodlark King Mining Centre with multiple samples exceeding 1.0 g/t Au | Planned following initial programs |
Recent field work at Little MacKenzie and Wayai Creek, part of the Woodlark King Mining Centre in the under-explored southwest corner of the project, has revealed several large coherent gold anomalies. Trenching is ongoing at Little Mackenzie with further assays expected in July 2025, with drilling to commence on these targets after completion of the Boscalo North and Great Northern programs.
DFS Advancing on Schedule
Alongside the expansion of Geopacific Resources Ltd's Woodlark Gold Project through exploration drilling, the company is making steady progress on the Definitive Feasibility Study, which remains on track for delivery by the end of 2025:
- Process plant site geotechnical drilling is currently underway
- Mining engineering consultants have been appointed
- Updated Environmental Assessment Report submission expected June 2025
- GR Engineering advancing updated plant design with vendor quotes being sourced
- Mining consultancy contract awarded for pit optimisation, design and production scheduling
- Critical infrastructure design contracts in final stages of negotiation
A second diamond drill rig is expected to arrive in Q3 2025, accelerating the ambitious drilling program for resource expansion. This additional rig will help maintain momentum in the company's resource expansion efforts while supporting the DFS work.
Understanding Structural Controls in Gold Mineralisation
Gold mineralisation at the Woodlark Gold Project is strongly influenced by geological structures that act as pathways for gold-bearing fluids. Understanding these structural controls is crucial for successful exploration and resource expansion.
At Great Northern, for example, mineralisation is controlled by the Kweiyan Fault, which runs in a WSW to ESE direction. This structural zone contains high-grade near-surface gold that remains open over an approximate 300m strike extent, suggesting potential for significant resource growth.
Similarly, at Boscalo North, drilling is targeting mineralisation along the same structural corridor as the main Kulumadau West zone, which hosts 279,600 ounces of gold at an impressive grade of 4.9 g/t. The target zone exhibits a magnetic signature similar to those associated with high-grade gold mineralisation elsewhere on the project.
By targeting areas where controlling structures intersect favourable host rocks, Geopacific's exploration team can prioritise drilling locations with the highest probability of success, maximising the effectiveness of the current campaign and the potential expansion of Geopacific Resources Ltd's Woodlark Gold Project.
Project Economics Strengthened by Gold Price Environment
The 2024 Woodlark Scoping Study demonstrated the project's robust economics, which have only improved with current market conditions. The current gold price of A$5,185/oz represents a remarkable 79% increase over the A$2,900/oz price used in the original study's financial model.
This significant price improvement provides Geopacific with greater flexibility to optimise the project's economics in the DFS, potentially enhancing returns and providing additional buffer against cost fluctuations.
The company continues to work with its environmental consultants to advance the technical studies required to support 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 in late June 2025.
Why Investors Should Track Geopacific's Progress
Geopacific represents a compelling opportunity for gold investors for several key reasons:
-
Resource Growth Potential: The current drilling campaign targets significant resource expansion beyond the established 1.67 Moz resource base.
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Advanced Development Stage: With the DFS on track for completion by year-end, Geopacific is rapidly advancing toward a development decision.
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Gold Price Leverage: The project economics modelled at A$2,900/oz gold will be substantially enhanced at current prices near A$5,185/oz.
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Multiple Catalysts: Regular news flow expected throughout 2025-2026 including:
- Drilling results starting August 2025
- Trenching results from July 2025
- DFS completion by end of 2025
- Environmental approval updates
-
100% Project Ownership: Geopacific maintains full ownership of the Woodlark Gold Project, providing maximum leverage to exploration success and development upside.
The Importance of Resource Expansion in Gold Projects
Resource expansion is a critical value driver for gold development companies. As the expansion of Geopacific Resources Ltd's Woodlark Gold Project progresses, each additional ounce identified can significantly improve project economics, extend mine life, and enhance shareholder returns.
The current 1.67 million ounce resource provides a solid foundation, but successful exploration could materially increase this figure. Historical mining areas on Woodlark Island have demonstrated high-grade potential, with the Kulumadau West zone containing 279,600 ounces at an impressive 4.9 g/t gold.
Exploration success at targets like Boscalo North, Great Northern, Little MacKenzie, and Wayai Creek could potentially add significant new resources to the project inventory. Furthermore, the company plans to launch a major drilling campaign across base metal prospects. This would allow the company to optimise its mining schedule, potentially targeting higher-grade zones early in the mine life to improve project payback periods.
With multiple near-term catalysts on the horizon and gold results from drilling programs expected soon, Geopacific is positioning itself as a standout gold development opportunity as it works to unlock the full potential of its Woodlark Gold Project.
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