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.