Geopacific Resources

MRA Acting Managing Director, Jerry Garry, who returned from the project site on Saturday January 14, after a two-day inspection of the houses and facilities, said he was impressed with the quality of the houses that were being constructed by the developer of the project GeoPacific Resources Limited.

He adds that they had set a new benchmark for the rest of the mining industry to follow.

Operators Geopacific Resources have released the latest assay results showing new gold intersections from the Kulumadau deposit.

The firm announced that drilling at Kulumadau East intercepted a wide zone of mineralisation in Reverse Circulation (RC) hole KU17RC009.

An adjacent diamond hole (KU17DD003), designed to further test this zone and aid geological interpretation has been drilled with results pending. A wide zone of alteration in KU17DD003 was logged and included two zones of visible gold.

Some of the highlights include:

This follows the release of its new research note titled ‘Breathing new life into Woodlark’.

The research note, prepared by Petra Capital, an Australian institutional stockbroking firm, is advising potential investors to buy shares in the project given positive developments on the mine.

This is due to a resource base of 2.1 million ounces of gold, upside to base case (financial) valuation, and significant exploration potential, which may underpin a larger project.