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GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2010
Jul 11, 2010
65008_rns_2010-07-11_a91ef160-2fe4-4af8-8d61-0f94fe4c6ed7.pdf
Capital/Financing Update
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12 July 2010
The Company Announcements Office Australian Stock Exchange Limited Level 6, 20 Bridge Street SYDNEY, NSW 2000
Geopacific signs agreements to commence helicopter geophysical surveys at Fiji projects.
Geopacific Resources NL (ASX: GPR) is pleased to report that it has completed agreements to commence helicopter geophysical surveys at it’s Fiji projects using Geotech Airborne Limited’s (Geotech) recently developed ZTEM electromagnetic system and a AS350B3 helicopter contracted from McDermott Aviation Pty Ltd.
The recently developed ZTEM system is state-of-the-art technology which is able to map resistivity contrasts associated with structure and alteration that are typically associated with porphyry copper systems and other large mineral deposits to great depths, exceeding 1-2 kilometres. ZTEM has only recently become commercially available in Australia and Geopacific will be first to use ZTEM in Fiji.
Geopacific also intends to use Geotech’s award winning VTEM system at several Fiji prospects where shallower, massive sulphide deposits are targeted.
Mobilisation of equipment has commenced and the surveys will take 6-8 weeks to complete.
About ZTEM
The ZTEM or Z-Axis Tipper Electromagnetic system is an innovative airborne EM system which uses the natural or passive earth fields as the source of transmitted energy and does not require a man-made transmitter. The ZTEM survey instrumentation consists of a single vertical-dipole receiver coil that is towed about 75m below a helicopter, at a 100m nominal flight height, and is flown over the survey area in a grid pattern, similar to other regional airborne surveys.
ZTEM data is closely related to resistivity/conductivity mapping of the subsurface. In some applications it has a depth of penetration for exploration of over 2,000 metres and with the low frequency of 22 Hertz has penetration through conductive cover to allow detection of large alteration systems typical of porphyry copper deposits.
About VTEM
Geotech’s VTEM is a time-domain airborne electromagnetic system which has a high signal to noise ratio and excellent conductance discrimination for high conductance targets. VTEM has been designed to detect and discriminate between moderate to excellent conductors such as skarn or other massive sulphide deposit types using a low base frequency, long pulse width, and derived B-Field.
Geopacific Resources NL ACN 003 208 393
[email protected] www.geopacific.com.au
Australia – Sydney
556 Crown St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA
T +61 2 9699 7311 F +61 2 9699 7322
Fiji – Nadi
PO Box 9975 Nadi Airport Nadi FIJI
Geopacific Resources NL 12 July 2010 ASX Announcement
page - 1 -
T +679 6 720 166 F +679 6 720 206
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Additional information on the Company's projects and previous Geopacific announcements are available on Geopacific's website at www.geopacific.com.au .
Yours faithfully
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Ian J Pringle (Managing Director)
Competent Person
The review of exploration activities and results contained in this report is based on information compiled by Dr Ian Pringle , a Member of the Australasian Institute of Mining and Metallurgy. Dr Pringle is the Managing Director of Geopacific Resources NL and also a Principle of Ian J Pringle & Associates Pty Ltd, a consultancy company in minerals exploration. He has sufficient experience which is relevant to the style of mineralization and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Dr Pringle has consented to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Further Information
For further information please contact Ian Pringle, Managing Director, on (02) 9699 7311 or [email protected]. An overview of Geopacific Resources NL can be viewed at www.geopacific.com.au.
Geopacific Resources NL ACN 003 208 393
[email protected] www.geopacific.com.au
Australia – Sydney 556 Crown St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA
T +61 2 9699 7311 F +61 2 9699 7322
Fiji – Nadi PO Box 9975 Nadi Airport Nadi FIJI
Geopacific Resources NL 12 July 2010 ASX Announcement
page - 2 -
T +679 6 720 166
F +679 6 720 206