Sydney, Jan 21, 2009 AEST (ABN Newswire) - Geopacific Resources NL (ASX:GPR) is pleased to announce that assays from trenching and costeaning completed last month at the Faddy's Gold Deposit, south of Nadi, Viti Levu, Fiji include 'bonanza' high-grade gold ranging up to 233g/t Au (7.5 oz/t) in one-metre sampled intervals. This high grade interval occurs within a wider zone which averages 71.2g/t Au (2.3 oz/t) over four metres in trench FT2. The trenches have defined high grade gold values within several prominent structural features within a 150m long zone (up to 50m wide), gold mineralised gossan outcrop.
High-grade channel samples collected from the trenches include:
- 1m of 233g/t Au within a 28m wide zone averaging 9.71g/t Au in trench FT2
- 2m of 37.5g/t Au in a road cut channel sample at RCB.
- 1m of 19.4g/t Au in a road cut channel sample at RCA.
- 1m of 66g/t Au at 10m in trench FT1, within a 54m wide zone of 1.26g/t Au.
The gold-bearing gossanous and oxidised outcrops are located in the north eastern portion of the Faddy's Gold Deposit at the NE Gossan Zone. High gold contents were intersected in shallow drill holes (intervals ranging up to 138.3g/t gold between 5-14 metres in drill hole FAD019 were reported on 27 November 2008). Deeper pyritic gold mineralisation was also intersected by Geopacific (0.5m sampled intervals range up to 73.2g/t Au at 80.2m within a 20.5m thick zone of 4.27g/t Au in FAD001) and this is the north-west dipping depth extension of the gossan.
Assay data for trench samples are summarised in Table 1. Channel samples were collected along 0.5m -1.0m intervals by collection of 15cm wide, 3-4cm deep sample cuts. For high grade mineralised zones both walls of the trenches have been sampled by horizontal sampling and vertical samples have been collected to define shallow dipping structures.
During late 2008 10 shallow drill holes close to FAD019 were completed and the assay results for this work have no yet been finalised.
The surface gold zone has dimensions of approximately 150 metres along strike, up to 50m wide and 120 metres down dip and is open along strike. The oxide mineralisation is located on low hills in a low land use area where soil cover is negligible. The location, free-dig qualities and low strip ratio of the near-surface high-grade gold zones are positive features for an open cut gold mine in this portion of the Faddy's Gold Deposit.
An Inferred Resource of 920,000t of 4.9g/t gold (144,000 ounces of contained gold) was estimated for the deeper sulphide mineralisation at the Faddy's Gold Deposit prior to Geopacific's recent work.
Geopacific is planning a metallurgical testwork programme for high grade oxide mineralisation and during the next several months will complete a scoping study for a small, high-grade gold operation.
Other information on the Company's projects and previous Geopacific announcements are available on Geopacific's website at www.geopacific.com.au.
About Geopacific Resources Ltd
Geopacific Resources Ltd (ASX:GPR) has been listed on the Australian Stock Exchange (ASX) since 2006. The Company's initial activities were on its tenement holdings in Fiji where its exploration activities have identified several highly prospective project areas.
When Geopacific merged with World Wide Mining in 2013 the Company became a regional explorer with an Asia-Pacific-focus – adding the Kou Sa Project in Cambodia to its existing Fijian Projects. Economic conditions then led the Company to adopt a single-project strategy, focussed on Kou Sa. The experience of Geopacific's Board and Senior Management Team equips the Company with the capability and capacity to run projects concurrently – exploration at the Fijian Projects will therefore recommence while work at Kou Sa continues.
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