Exploration

The Woodlark Project has considerable exploration upside.  Exploration activities are focussed on a Three Phase exploration strategy addressing Pit extension exploration, Mineral Lease exploration and a Regional step out on to exploration leases.

Near Pit Potential

  • All 3 operational pits (Busai, Kulumandau and Woodlark King) have significant exploration upside
  • Substantial Inferred material within existing pit shells to be converted to Measured & Indicated via infill drilling
  • Targeting lateral extensions at surface and down dip extensions at depth
  • Deeper drilling to define economic pit limits. Current pit shells constrained by data not economics
  • Definition of additional in-pit ounces reduces strip ratio and increases life of mine production

 

Mineral Lease Exploration

  • Substantial land holding available for exploration post completion of pit step out drilling
  • Numerous highly prospective targets identified within the Mining Lease, with visible gold at surface
  • All currently identified targets proximal to planned mill location
  • Rapid conversion of drilling target to mill feed as Mining Lease already in place
  • Broader Mining Lease exploration scheduled to commence once existing pit limits fully delineated

 

Regional Exploration

  • Substantial land package extending over a large proportion of the island
  • Significant number of gold and copper surface outcrops to be evaluated
  • Longer term focus on the Exploration Lease with numerous gold and copper surface outcrops / soil anomalies identified
  • Regional exploration highly cost effective once project is operational with only incremental down the hole and assay costs to be funded