Geopacific Resources could have unearthed major gold copper system in Cambodia

30 April 2014

Geopacific Resources' (ASX: GPR) may have discovered a major gold and copper system from drilling in Cambodia which on the results could yet get bigger. Standout results from preliminary gold assays from follow-up RC drilling at the 150 Prospect have extended the strike length of high grade gold values to at least 300 metres. Best results included some meaty widths and intersections: 32 metres at 25.04g/t gold with 1.31% copper from 16 metres including 6 metres at 126.57g/t gold and 2.88% copper from 21 metres; and 33 metres at 5.02g/t gold with 0.95% copper from surface. These results support the initial discovery of 3.9 metres at 16.5g/t Au and 3.9% copper. The latest holes have substantially increased the width of the zone as well as the strike, which augurs well for further broad zones below other geochemical anomalies. These include the 170 Prospect which lies 11 kilometres away, and has a similar geochemical footprint and tenor to the 150 Prospect.

Recently Geopacific attracted mining focussed private equity firm Resource Capital Fund VI L.P. as an investor an equity placement of USD$3.0 million. The fund has capital of $2.04 billion. RCF currently manages US$0.8 billion of assets (as of December 31, 2013) through its three other active private equity funds.

Whichever way the results are sliced, these are significant value accretive exploration results and hints at the potential of what is underneath at Kou Sa.

Source:

http://www.proactiveinvestors.com.au/companies/news/54565/geopacific-resources-could-have-unearthed-major-gold-copper-system-in-cambodia-54565.html