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Geopacific Resources outlines new gold discovery at Woodlark Island

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Geopacific Resources outlines new gold discovery at Woodlark Island

Geopacific Resources Ltd. confirmed the Boscalo zone on its majority-owned Woodlark Island property in Papua New Guinea as a new discovery.

The company first identified Boscalo mineralization in June, when drilling returned 18 meters grading 8.99 g/t of gold. Boscalo was previously thought to be an extension of the Kulumadau East zone on the feasibility-stage property.

Geopacific said Dec. 15 that recent drilling at Boscalo returned highlights including 12 meters grading 7.45 g/t of gold from a depth of 72 meters.

The company has defined the main zone over a length of 200 meters, striking northwest, with mineralization remaining open. The company also identified a parallel zone of mineralization between Boscalo and Kulumadau East.

Geopacific has drilled 45 holes at Boscalo, with assays pending for 22 drillholes and drilling continuing in a bid to better define the Boscalo zone and the parallel zone.

The company has an aggregate 86% interest in Woodlark Mining Ltd., which owns the Woodlark Island property, comprising a direct 5% interest and an 85% interest in Kula Gold Ltd., which has a 95% stake in the operating company.