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Great Pacific Gold Corp (TSXV: GPAC) (OTCQX: FSXLF) has completed the sale of its Reedy Creek and Providence Projects in Australia to Golden Cross Resources. The transaction includes:
- $1 million total cash payment ($500,000 previously paid, $500,000 at closing)
- 6 million Golden Cross common shares with varying resale restrictions
- Potential future payments up to $3 million tied to:
- $1 million upon publication of technical report showing 1,000,000+ ounces gold resource
- $2 million upon commercial production
The deal was executed through Golden Cross' acquisition of BC Subco, which owns Providence Gold Pty , the holder of the Property interests. Company insiders participated in the transaction for $65,000 through Fundco, which was later acquired by Golden Cross.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has announced key updates for its Wild Dog Project in Papua New Guinea. A MobileMT geophysics helicopter survey is 30% complete, covering 187km² with 1,030 line-km. Drilling is set to begin in early May 2025, with a contract signed with Zenex Drilling.
The Phase I drill program includes 10 diamond drill holes totaling 3,000 meters along the Wild Dog epithermal vein structure, plus 4 additional holes (1,800 meters) testing north-northwest-trending structures. A NI 43-101 technical report has been completed, highlighting significant potential with historical results of up to 127 g/t Au in trench samples at Kavasuki.
The project features both epithermal gold-copper targets and porphyry Cu-Au prospects at Magiabe and Mt Regess. A successful community celebration was held with over 5,000 attendees, including local and government officials. Camp and core storage facilities have been established in Rieit, with technical team and support staff in place.
Great Pacific Gold Corp. (FSXLF) has provided an update on its exploration activities at the Kesar Project in Papua New Guinea, adjacent to K92 Mining's Kainantu Mine. The company has completed a MobileMT geophysical survey across the entire tenement, revealing large-scale structures similar to K92 Mining's.
At the Anteruno target, drilling produced gold-bearing intervals in all holes, with notable intersections including 3.13 meters @ 3.67 g/t gold and 0.23 meters @ 6.61 g/t gold. The company has completed four holes at the Hampore target totaling 943.9 meters, with a fifth hole underway. Drilling at Hampore has intercepted hydrothermal breccia with quartz-carbonate vein and semi-massive pyrite, visually similar to K92 Mining deposits.
The company plans to continue drilling with one diamond drill rig at Kesar through April to expand upon the initial results. A 1,200-metre drill program at Fufunambi has been designed based on MobileMT data, mapping, high-grade rock chip results, and evidence of artisanal mining.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has announced the execution of a binding purchase agreement with Adelong Gold (ASX: ADG) for the sale of its Golden Mountain Project in Victoria, Australia. The transaction involves the sale of a 100% interest in Exploration Licence 6430 (EL6430).
The deal terms include:
- A cash payment of AUD$350,000 to be paid within five business days of meeting conditions precedent
- AUD$350,000 worth of Adelong Gold shares to be issued six months after completion, with pricing based on the five-day VWAP
The sale aligns with Great Pacific Gold's strategy to unlock value from its portfolio while focusing on advancing its core assets in Papua New Guinea. Adelong Gold plans to rename the project to Apollo Gold Project, which remains open at depth and along strike.
Great Pacific Gold Corp. (GPAC) has initiated drilling operations at the Hampore target within the Kesar Project in Papua New Guinea, alongside launching a comprehensive Mobile Magnetotelluric (MobileMT) geophysical survey. The drilling program targets areas beneath recently discovered high-grade outcrops that yielded exceptional gold values of 110 g/t and 93.3 g/t gold.
The ongoing airborne MobileMT survey has completed approximately 450 line-kilometers (52%) of the planned 877 line-kilometers across a 126 km² area. This advanced geophysical technique offers superior depth penetration up to 1 kilometer and enhanced structural resolution, helping map fault zones and hydrothermal alteration pathways.
Preliminary geological interpretations at Hampore reveal an epizonal intermediate-sulfidation polymetallic lode system with two distinct gold mineralization styles: bonanza free gold in arsenopyrite-rich quartz veins and electrum-base metal veins within sulfide-rich breccias. The best gold grades were found in hydrothermal breccias with fine crystalline quartz and arsenopyrite.
Great Pacific Gold Corp. (GPAC) has announced significant high-grade gold discoveries at its Kesar Project's East Vein Zone, specifically in the Hampore and Fufunambi targets. The company completed ~2,000 meters of diamond drilling at Anteruno and is relocating drilling operations to Hampore.
At Hampore, 28 rock and chip samples taken in Q4 2024 averaged 24.5 g/t gold, with peak samples reaching 110.0 g/t, 93.3 g/t, and 74.2 g/t gold. The Fufunambi target yielded 14 samples averaging 16.2 g/t gold, with highest grades of 58.8 g/t, 43.8 g/t, and 42.3 g/t gold.
The company plans to complete approximately 1,800 meters of diamond drilling in Q1 2025. Dr. Joseph O. Espi, an expert on the Kainantu Mineral District, noted similarities between the East Vein Zone samples and K92's nearby Kora deposit, suggesting potential for a significant discovery.
Great Pacific Gold Corp (TSXV: GPAC) (OTCQX: FSXLF) has completed a non-brokered private placement financing, raising $5,050,000 through the issuance of 11,222,222 units at $0.45 per unit. Each unit includes one common share and half a warrant, with each whole warrant exercisable at $0.70 per share for 24 months.
The company paid finder's fees of $170,566 and issued 377,035 non-transferable warrants. Company insiders participated by subscribing for 588,864 units. All securities issued have a hold period until April 24, 2025.
The proceeds will fund diamond drilling at the Kesar and Wild Dog Projects, exploration activities in Papua New Guinea, and general expenses.
Great Pacific Gold Corp (TSXV: GPAC) (OTCQX: FSXLF) has identified a new high-priority drill target at its Kesar Project through mapping of the East Vein Zone. The company discovered a mineralized hydrothermal breccia system exposed by artisanal miners, located approximately 2 km NE of the Anteruno target where current drilling operations are ongoing.
The Anteruno drilling program has completed ~1,400 meters across three drill holes, with a fourth hole in progress and a fifth planned for early January. The newly discovered East Vein Zone features multiple artisanal adits and significant mineralized structures, suggesting it may represent the core of a large-scale mineralized system spanning approximately 3 by 4km. The company believes Kesar represents the north-west extension of the Kainantu Mine deposits, located about 8 km from the Project.
Great Pacific Gold Corp (TSXV: GPAC) has announced its 2025 exploration program for the Wild Dog Project in Papua New Guinea. The company has engaged several partners including RSC Mining for historical data consolidation, Expert Geophysics for MobileMT geoelectrical mapping, and Tetra Tech for environmental studies.
Key developments include road improvements, hiring a full-time site geologist, and plans to mobilize a diamond drill rig with Quest Exploration Drilling in Q2 2025. The company will begin trenching and mapping work in the Gorocha area in Q1 2025.
The program focuses on consolidating historical drilling data, mapping, surface sampling, and developing a preliminary 3D geological model to guide diamond drill targeting.
Great Pacific Gold Corp (TSXV: GPAC) (OTCQX: FSXLF) has entered into a definitive agreement with Zincore Metals Corp. to sell its non-core Reedy Creek and Providence tenements in Victoria, Australia. The transaction includes:
- $500,000 cash within 5 days of signing (Dec 5, 2024)
- $500,000 cash on closing (expected Apr 1, 2025)
- 6 million Zincore shares on closing
- $1,000,000 cash upon publishing a NI 43-101 resource estimate exceeding 1M oz gold equivalent
- $2,000,000 cash upon commercial production
The divestiture aligns with GPAC's strategy to focus on core projects in Papua New Guinea, including Kesar and Wild Dog Projects. The company will maintain 10% shareholding in Zincore, ensuring continued exposure to the land package near Southern Cross's Sunday Creek Project.
