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High-Grade Strikes in Australia, Strategic Acquisitions in Papua New Guinea
As gold prices reach unprecedented highs, soaring to $2,135.39 per ounce, the market is witnessing a surge in interest in gold-related investments. This remarkable upswing is fueled by various factors, including the decline in bond yields and increased economic uncertainty, positioning gold as a sought-after safe-haven asset. Against this backdrop, Great Pacific Gold Corp. emerges as a compelling investment opportunity. The company’s recent successes, such as the spectacular high-grade gold discovery at the Comet Prospect in Australia and the strategic acquisition of Wild Dog Resources Inc. in Papua New Guinea, underscore its commitment to innovative exploration and growth. With a diverse portfolio of high-grade gold-copper properties and a solid financial position, Great Pacific Gold Corp. is well-positioned to capitalize on the booming gold market. As investors seek refuge in precious metals amid economic volatility, the company’s strategic initiatives make it a promising prospect in the ever-evolving landscape of gold investments.
Great Pacific Gold Corp. Unveils Exceptional Gold Discovery in Australia
In a groundbreaking development, Great Pacific Gold Corp. has revealed a spectacular high-grade gold discovery at the Comet Prospect within its 100% owned Lauriston Gold Project in Victoria, Australia. The star of the show is Drillhole CRC07, which intercepted 5m at a remarkable 166.35 g/t Gold, including an extraordinary 2m at 413 g/t Gold from a depth of 95m. This discovery, marking the highest-grade hole ever reported from the Lauriston Project, is strategically located immediately south of the Agnico Eagle Fosterville Mine tenements, underscoring its geological significance. Notably, CRC07, a deeper follow-up to a shallower abandoned hole (CRC14), showcases the Company’s commitment to exploring deeper depths and uncovering potential-rich mineralized zones.
Table: Key Drill Results
| Hole ID | From (m) | To (m) | Interval (m) | Au g/t |
|---|---|---|---|---|
| CRC007 | 95 | 100 | 5 | 166.35 |
| Includes | 96 | 98 | 2 | 413.00 |
This significant gold strike is characterized by epizonal characteristics of Au-As-Sb, resembling the geological features of the Fosterville Mine deposit. The west-dipping Comet fault zone, hosted by Ordovician slates and sandstones, and folded in north-south striking concertina folds, mirrors the structural setting of the Fosterville Mine mineralization. Visible gold was observed during the drilling of CRC07, further confirming the richness of the discovery.
Strategic Exploration Plans and CEO’s Forward Outlook
The success of the November 2023 drilling program, targeting prospects like Trojan, O’Connell’s, and Comet, has positioned Great Pacific Gold Corp. for further exploration and growth. With a total of 15 reverse circulation holes drilled at the Comet Prospect, the company is preparing for an additional drill program based on the exceptional results from CRC07.
CEO Bryan Slusarchuk expressed excitement about the new high-grade discovery, emphasizing its similarity to the structural setting seen at the Fosterville Mine. As Great Pacific Gold gears up for Q1 2024 drilling in Papua New Guinea, the strategic focus on advancing this Australian discovery adds an exciting dimension to the company’s exploration portfolio.
GPAC Completes Acquisition of Wild Dog Resources: Secures 2,166 sq. km of High-Grade Gold-Copper Properties in Papua New Guinea
Great Pacific Gold Corp. (GPAC) has successfully completed the acquisition of Wild Dog Resources Inc. (WDR), obtaining ownership of three high-grade gold-copper mineral properties in Papua New Guinea (PNG): the Wild Dog Project, the Arau Project, and the Kesar Creek Project. The acquisition includes a significant land position of 2,166 sq. km, with specific projects adjacent to K92 Mining Inc. tenements. To put things into perspective, K92 Mining is expected to produce between 120,000 and 140,000 equivalent ounces of gold this year and has a market capitalization of over $1.4 billion.
Wild Dog Project
Covering 1424 sq. km on New Britain Island, this project hosts the Nengmutka Caldera, featuring epithermal and porphyry hydrothermal-magmatic mineralization. The “Wild Dog – Gunsap Corridor” within the project area extends 15 km and contains porphyry copper-gold prospects and epithermal gold deposits. Historical drilling at the Wild Dog Zone has shown promising results, with gold assays including 4m at 9.41 g/t Au.
Arau Project
Situated in the Kainantu region, the Arau Project comprises epithermal-high sulphidation gold prospects and copper-gold porphyry prospects. The Mt. Victor Prospect, a copper-gold porphyry target, has demonstrated strong gold grades in previous channel sampling, such as 38m at 2.64 g/t Au. Initial exploration involves five angled diamond drill holes based on positive survey and sampling results.
Kesar Creek Project
Located 10 km from Kora gold deposit, the Kesar Creek Project features semi-massive copper-rich sulphide mineralization and potential copper-gold porphyry prospects. Limited exploration has returned high-grade gold-copper-silver values in rock samples, including 30.4 g/t Au, 240 g/t Ag, 0.13% Cu.
Great Pacific Gold Corp. Secures Exploration License for Kesar Creek Project
Great Pacific Gold Corp. has achieved a significant milestone with the grant of Exploration License 2711, covering the Kesar Creek Project in Papua New Guinea. The notification from the Papua New Guinea Mineral Resources Authority (MRA) on November 14, 2023, marks the commencement of a two-year license effective from October 31, 2023, until October 30, 2025. Positioned as a contiguous extension of K92 Mining Inc. tenements, Kesar Creek holds strategic importance due to its proximity to multiple epithermal vein deposits and porphyry targets identified on the K92 Mining Inc. project.
Table: Key Highlights of Kesar Creek Project
| Grant Date | License | Duration | Location | Exploration Focus |
|---|---|---|---|---|
| Nov. 17, 2023 | EL 2711 | 2 years | Contiguous to K92 Mining | High-grade gold identified in veins, potential for |
| Inc. tenements | copper-gold porphyry prospects |
Under the leadership of CEO Bryan Slusarchuk, Great Pacific Gold expresses gratitude to project partner, geologist Andy Thomas, and local stakeholders for their support in securing the Kesar Creek Exploration License. With the license now in hand, the company is poised to initiate an extensive exploration program, including blanket soil geochemical work. This exploration effort aims to further delineate target areas in preparation for an upcoming drill program. The financial robustness of Great Pacific Gold, coupled with its proven track record in exploration and discovery, positions the company for success in unlocking the full potential of the Kesar Creek Project.
Kesar Creek Project Exploration Potential
Situated 10 km northwest of K92 Mining Inc.’s Kora gold mine, Kesar Creek presents compelling exploration opportunities. Initial rock samples, showcasing high-grade gold-copper-silver values, are summarized below:
| Rock Sample | Gold (g/t) | Silver (g/t) | Copper (%) |
|---|---|---|---|
| 14128 | 11.5 | – | – |
| A1428 | 11.9 | – | – |
| 9231F | 10.6 | – | – |
| 14236 | 11.6 | 29 | – |
| A14023 | 30.4 | 240 | 0.13 |
These results underscore the significant mineralization potential, with semi-massive copper-rich sulphide associated with quartz veins. Additionally, the project holds promise for copper-gold porphyry prospects. Great Pacific Gold Corp. reinforces its commitment by issuing 640,295 common shares and a cash payment of CAD $100,000, further solidifying its position in Papua New Guinea’s mineral-rich landscape.
Conclusion:
Great Pacific Gold Corp. continues to redefine exploration excellence with recent milestones. A spectacular high-grade gold discovery at the Comet Prospect in Australia, particularly Drillhole CRC07’s historic 166.35 g/t Gold over 5m, showcases the company’s commitment to groundbreaking exploration.
In Papua New Guinea (PNG), the acquisition of Wild Dog Resources Inc. solidifies ownership of three high-grade gold-copper mineral properties spanning 2,166 sq. km. Strategic projects like the Wild Dog Project and Arau Project bolster the company’s diverse portfolio.
Further enhancing its PNG presence, Great Pacific Gold Corp. secures Exploration License 2711 for the Kesar Creek Project, marking a strategic extension of K92 Mining Inc. tenements. CEO Bryan Slusarchuk acknowledges crucial partnerships, highlighting the company’s financial strength and exploration track record.
In summary, Great Pacific Gold Corp. is poised for success, blending a remarkable gold discovery with strategic acquisitions and license grants. The company’s future shines bright as it continues to pioneer innovation in mineral exploration.