Geopacific Resources (ASX: GPR) has revealed results from the first drillhole at its untested Northern Porphyry prospect at Kou Sa in Cambodia.
Copper sulphide mineralisation of 3.9 metres at 3.13% copper, with 0.06 metres at 5.2%, from 33.4 metres was intersected in a new area of the Kou Sa Copper Project.
Drilling targeted a surface geochemical anomaly coincident with a 200 metre wide chargeability high zone.
The associated geochemical anomaly is some 1.2 kilometres long and 200 metres across, covering a low ridge of strongly silica altered volcanic rocks.
Significantly, this first drillhole confirmed that high grade copper at depth can be identified using geochemistry and geophysics conducted over the previous months of exploration on the licence.
The porphyry prospect is the first area tested at Kou Sa outside the areas drilled by the previous owners, and is 2.5 kilometres from the 100 Prospect that previously produced strong copper results.
The diamond rig has now moved to test a new area, and a reverse circulation rig is on route to site for further drilling of this new discovery.
Precious metal results from the hole are pending, and the company is capitalised at under $9 million.
As Geopacific's targeting methods have identified numerous, robust anomalies, and with the significant grades from the first hole hole, discovery of a large copper field appears possible.
Recently Geopacific attracted Resource Capital Fund VI L.P. as an investor an equity placement of USD$3.0 million with Resource Capital Fund VI L.P.
RCF currently manages approximately US$1.0 billion of assets.
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