News Articles for Geopacific Resources

Geopacific has announced a $10M placement to advance its resource development drilling at the Woodlark gold project in PNG. The company is completing a DFS and the new drill programs are aimed at increasing resource and reserve inventories to extend the initial mine life beyond 10 years. The capital raise had strong support and the company said it could now potentially triple its gold endowment.

New Century Resources has raised $40 million to complete the restart of its zinc mine in Queensland, while Vimy Resources and Geopacific Resources have tapped investors for $6 million and $10 million respectively.

Geopacific Resources has made its second high-grade gold and silver discovery in three months at its 85%-owned Kou Sa project in northern Cambodia and found more evidence that a large epithermal mineral system could be nearby. The latest discovery was made by an exploration program that returned gold assays up to 32.35 g/t and silver assays up to 2,300 g/t.

Things could move quickly for Geopacific after its DFS hits the streets in the third quarter of this year given that its Woodlark Island gold project in PNG is already sitting on a fully permitted and granted mining lease. The PFS was completed in March and showed a robust, 100,000 ounce a year, low cost, low stripping ratio open pit operation with an expected post tax 2 year payback.

Geopacific Resources looks set to join the coveted ranks of the 100,000 ounce a year club with its Woodlark Gold Project in Papua New Guinea for at least the next ten years. The company's share price rose 20% ahead of the highly anticipated pre-feasibility study, which is now on the street and hasn't disappointed with a projected all in sustaining cost to produce each ounce of gold below the magical AU$1000 an ounce mark.

Geopacific is toasting the gift that keeps on giving at its Woodlark gold project in Papua New Guinea, which has delivered more high-grade intercepts in assay results from a 22-hole drilling campaign at the Boscalo area. The Perth company is on track to develop a world-class gold mining operation at Woodlark as it targets a revised ore reserve estimate of one million ounces plus by next month.

Geopacif Resources shareholders can look forward to a flood of material news this year with a new resource and reserve estimate due out soon ahead of a DFS at the end of the year. The Woodlark gold project in PNG is also fully permitted to mine after passing all environmental, technical and social hurdles. The company is confident that development work in 2017 gives encouraging impetus for producer status in the not too distant future.

Geopacific Resources has reminded investors there is more to the company than just their flagship Woodlark gold project in PNG with news of a gold-silver discovery at their legacy Kou Sa project in northern Cambodia. The epithermal gold specialist this week reported a number of drill hits of high-grade gold in unusually wide zones of mineralisation that suggested potential for a big mineral system.

Geopacific Resources has discovered a significant new gold zone at the Woodlark gold project in PNG, boosting hopes that in time it could grow into something more like its multitude of Tier 1 neighbours. The new Boscalo gold zone is only 300 metres from an existing deposit and could potentially be incorporated into an expanded pit design. The best result at Boscalo was 12m @ 7.45 g/t gold.

Drilling by Geopacific Resources at their recently acquired Woodlark Gold deposit in PNG has shown it has spectacularly long high grades like its famous epithermal neighbours. The path has now been cleared for a new resource and reserve estimate early next year. Latest results from the new drilling include 37 metres at 6.21g/t gold, 25 metres at 6.27g/t and 16 metres at 11.00g/t.

Geopacific are off and running with the giants in PNG with their Woodlark project that sits dead centre in the middle of some of the largest gold and copper resources in the world. Woodlark Island is surrounded on every side by amazing projects that range from 17m ounces of gold up to Freeport's stunning 63m ounce project. Geopacific picked up the majority of it for a song from Kula Gold who spent $150m on it.

Geopacific Resources has acquired a majority stake in Kula Gold after the takeover target's largest shareholder accepted Geopacific's recently increased offer.

Perth-based Geopacific Resources has put forward a takeover bid for its joint venture partner, gold-focused Kula Gold, in an all-scrip deal that values the target at about $9.3 million.

Perth-based explorer Kula Gold says it could save $US25 million, or 27 per cent, on the cost of building its Woodlark Island gold project in Papua New Guinea if done so in the current economic environment.

Philippa Leggat has been appointed executive director corporate at Geopacific Resources.

SPECIAL REPORT: A record high Australian dollar price in June has provided a tailwind for the state's gold sector, and 2017 is looking to be a similarly positive year.

Local explorer Geopacific Resources has kicked off a $15 million capital raising to fund the earn-in and development of the Woodlark gold project in Papua New Guinea.

Perth-based explorer Geopacific Resources has entered into an agreement to farm-in to Kula Gold's Woodlark Island gold project in Papua New Guinea, in a deal worth up to $18.6 million.

Gold and copper miner Geopacific Resources has launched a $23 million capital raising to fund an exploration program at its Kou Sa project in Cambodia.

Shares in Geopacific were up 9.3 per cent today as the company announced a $3 million rights issue, with the company planning to step up exploration activity at its Cambodian Kou Sa project.

Gold and Copper exploration company Geopacific Resources has achieved a $5 million share placement primarily to fund activities in Cambodia.

Geopacific Resources has announced a $6.6 million funding package it will use to ramp up its copper and gold exploration efforts in Cambodia and Fiji.

Milan Jerkovic has been appointed as a non-executive director of Geopacific Resources.