The Asia Miner

OCT-DEC 2017

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 27 of 55

26 | ASIA Miner | Volume 14 • Issue 4 | 2017 Papua New Guinea GEOPACIFIC Resources continues to progress a definitive feasibili- ty study for the Woodlark Gold Project on Woodlark Island. Ongoing metallurgical and infill drilling at the project is returning encouraging results and continues to confirm wide zones of gold mineralisation. The metallurgical drilling results will be used for metallurgical vari- ability studies while the company is confident that the infill drilling will upgrade resources into reserves at the Busai and Kulumadau deposits, thereby boosting the project's reserve base. A recent round of metallurgical drilling returned best results of 7 metres from 21 metres @ 4.48 g/t, 42 metres from 31 metres @ 2.58 g/t and 12 metres from 78 metres @ 2.34 g/t in one hole; and 7.9 metres from 39.6 metres @ 9.21 g/t and 17.0 metres from 114 metres @ 2.27 g/t in another. These results continue to highlight the wide zones of gold min- eralisation that have previously been identified while test work is being carried out with the aim of confirming that historic test work is representative of the mineralisation. The test work program has been designed by Lycopodium Engi- neering and is being supervised from their Brisbane office. ALS lab- oratories has been engaged to undertake the test work in Australia. Approximately 5 tonnes of PQ size (85mm) has been dispatched for test work at ALS laboratories. The tests are expected to take up to four months and be finalised by early 2018. Geopacific said that with the metallurgical drilling complete, de- velopment drilling has resumed at the Kulumadau deposit, testing extensions of the northern extents of the mineralisation. Geopacific's aim is to present Woodlark as a robust and attractive project. Many of Woodlark's technical aspects have been investi- gated in detail and Geopacific's work is now centred on assess- ing optimisation opportunities which are available through the likes of modular construction techniques; refining the processing plant flowsheet; and technology. Considerable effort is being applied to optimising mining. Areas of interest include optimal mine design, refining grade scheduling to shorten the capital payback period and equipment selection. A takeover by Geopacific of Kula Gold, its partner in the Woodlark project, has been successful and by late September, Geopacific controlled more than 79% of Kula. GOLD Mountain began its initial drill pro- gram at Crown Ridge Gold Project in late September. The program of 12 holes for 1000 metres is being complemented by an extensive bulk sampling program with the aim of estimating an initial JORC 2012-compliant mineral resource. Before the drilling campaign, which is be- ing carried out by Quest Exploration Drilling, Gold Mountain undertook a detailed survey of the selected drill locations, prepared ac- cess roads and trails for use, constructed camp site facilities, and cleared drill pads. Quest is a leading drill company with more than 45 years' experience in providing drill- ing services to the energy and resources sector. In late September Gold Mountain said Quest had mobilised a tracked Atlas Copco CS14 drill rig to the site. Crown Ridge is 75km east-northeast of the Porgera mine in the PNG Highlands and work to date has identified paleo-allu- vial gold mineralisation. The current explo- ration campaign, which is expected to be complete in early 2018, will also target the project's hard rock potential. Geopacific advances Woodlark DFS A nugget panned from a watercourse at the Crown Ridge Gold Project in the PNG Highlands. Initial drilling program at Crown Ridge The campaign will include up to nine 40- 60 metre deep vertical diamond drill holes testing a 0.25sqkm area of the interpreted paleo-alluvial gold, covering an area that re- turned the best gold results from the previ- ous 52 test pits. It will also include a further 36 four-metre deep test pits on a 50x50 metre spacing infilling the previous pits and targeting an in- terpreted higher grade zone within the same area as the nine diamond holes. There will also be three 150-200 metre deep diamond drill holes targeting the shal- low hard rock potential in the interpreted southwest caldera margin. Gold Mountain's director of exploration Doug Smith said, "This diamond drilling and the ongoing bulk sampling program are key value catalysts for Gold Mountain and we expect to unlock considerable value from these works. "They are the next steps in Gold Mountain compiling a JORC-compliant mineral re- source, which will be a game change for us. "Crown Ridge has all the geological char- acteristics of being another major PNG precious metals project and we are looking forward to reporting on a steady flow of ex- ploration results as work progresses."

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