PHASE 1 PROGRESSES AT THE WOODLARK PROJECT

Geopacific Resources Ltd (ASX: GPR) has updated stakeholders on the advancements of the 2023 Phase 1 Work Program at the Woodlark Gold Project. This phase aims to optimize the project by minimizing environmental impacts and simplifying infrastructure.

Key Developments:

  • Project Footprint: Efforts identified to reduce the project’s environmental and execution risks.
  • Infrastructure Relocation: A new proposed process plant site and wharf location have been selected to improve logistics and reduce construction requirements.
  • Cost Analysis: Operating and capital cost estimates have been completed for several throughput scenarios, with financial analysis in progress.
  • Leadership Changes: A transition in leadership is being undertaken to align with the company’s strategic direction.

Collaboration with Knight Piesold and Orange Mining has led to revised infrastructure plans, emphasizing wet-climate construction optimization and geotechnical risk reduction. The company continues to focus on de-risking the project, with detailed reporting on these optimizations and cost implications to follow.

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