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Highlights
- Geopacific Resources (GPR) set to launch a 30,000-metre drilling program in May 2025.
- Definitive Feasibility Study (DFS) expected by the end of 2025.
- $40 million in funding secured to accelerate project development.
Geopacific Resources (ASX:GPR) is making significant strides in advancing its 1.7-million-ounce Woodlark Gold Project, with plans to commence a fully-funded 30,000-metre drilling program in May 2025. The company has secured $40 million from a recent Entitlement Offer, ensuring steady progress toward project milestones.
The upcoming drilling campaign is designed to enhance the understanding of the gold mineralisation within the project area while also identifying new high-potential targets. With the rising gold price adding further upside potential, the company aims to optimize project economics and engineering design to maximize efficiency and returns.
Drilling Plans & Execution Strategy
The extensive drilling initiative will include both reverse circulation (RC) and diamond drilling to expand known mineralisation zones. Quest Exploration Drilling (QED) has been selected as the preferred drilling contractor, with two rigs scheduled to commence operations in May 2025. A third rig may be introduced by July to further accelerate exploration efforts.
Preparatory activities are already in motion, with earthmoving equipment set for mobilisation in March 2025 to upgrade roads and prepare drill pads. Additionally, initial exploration techniques such as augering and trenching will be deployed in March, with first-phase results anticipated by May 2025. These efforts aim to enhance resource definition and uncover new mineralised zones within the Woodlark Gold Project.
Strategic Outlook & Future Developments
As part of its broader development strategy, Geopacific Resources (GPR) is targeting the completion of the Definitive Feasibility Study (DFS) by the end of 2025. This study will integrate updated gold price assumptions and project optimisation measures to ensure operational flexibility and long-term value creation.
CEO James Fox highlighted the significant potential of the Woodlark Gold Project, emphasizing that the team is focused on delivering key objectives within the planned timeline. The company remains committed to enhancing project economics while strategically positioning itself to capitalize on evolving market conditions.
With funding secured and an aggressive exploration and development plan in place, Geopacific Resources (GPR) is well-positioned to unlock further value from its flagship asset. The market can expect continuous updates as drilling results and feasibility studies shape the project's future trajectory.
