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Geopacific Resources Ltd (ASX:GPR)

ALERT: Price-sensitive ASX Announcement for GPR
Current share price for GPR : $0.027 -0.021 (-43.75%)+
Announcement
Release
20 May 2026 8:18AM
Price at Release
$0.048
Full Release
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Summary
Geopacific Resources Ltd reported an increase in the mineral resource estimates and new ore reserves for the Woodlark Gold Project, as detailed in the 2026 Mineral Resource Estimate (MRE). The total combined mineral resources for the project now stand at 70.1 million tonnes at a grade of 0.88 g/t Au, containing 1.978 million ounces of gold. This marks a 50% increase in contained tonnes and a 21% rise in contained gold ounces compared to previous estimates, primarily due to a higher assumed gold price and corresponding lower cut-off grades. The 2026 Ore Reserve is estimated at 34.3 Mt at 1.09 g/t Au containing 1.20 Moz Au, reflecting updated mining and economic assessments. The project incorporates several gold deposits including Busai, Kulumadau, and Woodlark King, and employs open-pit mining methods with conventional processing techniques to ensure effective resource utilization and economic feasibility.
Key Points
  • Increased mineral resource and new ore reserve for Woodlark Gold Project.
  • 2026 MRE reports 70.1 Mt at 0.88 g/t Au, totaling 1.978 Moz gold.
  • Ore Reserve estimated at 34.3 Mt at 1.09 g/t Au for 1.20 Moz Au.
  • 50% increase in contained tonnes and 21% increase in gold ounces.
  • Higher gold price assumption led to a 20% lower gold grade.
  • Open-pit mining with conventional processing methods utilized.
  • Includes Busai, Kulumadau, and Woodlark King deposits.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.