Business · Energy & Commodities · 2 hrs ago
Geopacific reports promising Woodlark gold results as funding talks continue
Geopacific reported promising gold drilling results from its Woodlark project in Papua New Guinea, alongside progress on funding discussions and engineering preparations.
The results include a 36-metre interval grading 1.48 grams of gold per tonne and a 1.4-metre interval grading 29.4 grams per tonne.
They could help the company refine mine plans and assess growth in Woodlark’s 1.98-million-ounce gold resource; its current ore reserve is about 1.2 million ounces.
Geopacific completed a definitive feasibility study in May, which forecast average annual production of about 100,000 ounces.
The company and its advisers are discussing several possible funding or partnership structures with interested parties, but talks are incomplete and no deal is assured.
Engineering work is advancing, while exploration continues across 12 prospects to help identify future targets.
Geopacific is also seeking to extend its mining licence’s construction deadline from October 2027 to October 2029.
Geopacific Resources reported gold assay results from its Woodlark project in Papua New Guinea, including a 36-metre interval grading 1.48 grams per tonne.
The September-quarter report also detailed high-grade results from several deposits, including 1.4 metres at 29.4 grams per tonne at Busai Deeps.
The company is assessing whether the results could grow Woodlark’s 1.98-million-ounce resource and improve mine planning.
Funding and strategic-partnering discussions are continuing, but the company said they are incomplete and confidential and may not lead to a transaction.
Engineering preparations and exploration across 12 prospects are also progressing.
- Who
- Geopacific Resources, which is developing the Woodlark gold project.
- What
- The company reported promising gold assay results and said funding and strategic-partnering discussions are continuing.
- When
- The results and activities were reported for the September quarter. The article was published on November 2, 2026.
- Where
- The Woodlark gold project in Papua New Guinea.
- Why
- The results may support resource growth and improved mine planning as the company considers financing and partnership options.
This story does not have two clearly opposing sides.
Geopacific completed a definitive feasibility study for Woodlark.
Drilling at Woodlark was completed.
The company received drilling assays and focused on interpreting them alongside existing geological data.
Geopacific advanced funding discussions and engineering preparations and continued regional exploration.
- Woodlark King NW
- 36 metres at 1.48 grams per tonne gold from 60 metres
- Busai Deeps
- 1.4 metres at 29.4 grams per tonne gold from 257 metres
- Woodlark resource
- 1.98 million ounces
- Woodlark ore reserve
- About 1.2 million ounces
- Regional prospects
- Exploration and geochemical sampling across 12 prospects
What people are saying
The program has delivered a series of high-grade gold intercepts across near-mine and regional target areas, supporting the potential for resource growth and improved confidence in future mine planning,