Australia-based Geopacific Resources announced that the definitive feasibility study for its Woodlark gold project in Papua New Guinea confirms it as a technically robust, economically attractive, open-pit gold development.
The study has assessed the technical, financial and environmental viability of Woodlark, delivering a production target of 35.6 million tonnes at 1.07 g/t Au for 1.23 million ounces Au and supporting a JORC 2012 compliant Ore Reserve of 34.3 Mt at 1.09 g/t Au for 1.20 Moz of mined gold.
“The completion of the [definitive feasibility study] marks a major milestone for the company and confirms Woodlark as a technically robust, long-life project capable of delivering strong margins and significant free cash flow,” said Geopacific Resources Managing Director Hamish Bohannan.
“It comes at a time of increasing international interest in resource development and infrastructure investment in Papua New Guinea, reflecting the country’s growing strategic importance as a destination for large-scale resource projects and a key supplier of precious metals to global markets.”
Bohannan added that Geopacific is now turning its focus to financing and front-end engineering design. Construction is targeted to commence in late 2026, with first gold expected in November 2028.
Source: Geopacific Resources