Drilling starts at Woodlark

GEOPACIFIC Resources has begun drilling at its earn-in Woodlark gold project on Woodlark Island in Papua New Guinea’s Milne Province.

  • Staff reporter
  • 05 December 2016
  • 06:29
  • News
Drilling starts at Woodlark Drilling is about to start on the Woodlark gold project

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Last week the company said its geological team had been at the project site in preparation of the drillout.
 
"The drilling rigs have been unloaded and moved to the first drill pads to begin work," the company said.
 
The intention is to prove up a reserve of 1.2 million ounces of gold in order to make the project sufficiently viable and attractive to financiers.
 
If or when Geopacific achieves this target by spending a maximum of $8 million will earn Geopacific 51% of Woodlark from Kula Gold.
 
Drilling will start at Busai before moving on the Kulumadau area, the company said.

 

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