Great Pacific Gold Corp - FSXLF STOCK NEWS

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.

Great Pacific Gold (GPAC) provided updates on multiple projects and its AGM results. At Kesar Project, diamond drilling is progressing with ~1,000 meters completed using two rigs, targeting completion of 2,500 meters across five holes by year-end. The program will continue into January 2025. At Wild Dog Project, following executive team site visits, GPAC plans a 2025 exploration program focusing on a 3km corridor with historical mining operations. The site shows high-grade gold-copper system potential with intense alteration and brecciation. At the AGM, shareholders approved all resolutions, including director re-elections and appointment of BDO Canada LLP as auditors. The company also approved a new securities-based compensation plan and granted 775,000 restricted share units.

Great Pacific Gold (TSXV: GPAC) (OTCQX: FSXLF) has appointed Callum Spink as Vice President, Exploration, as the company focuses on its Papua New Guinea (PNG) projects. Spink brings 15 years of mining and exploration expertise, including senior roles at Barrick Gold's Porgera and Newcrest's Lihir operations in PNG. The appointment coincides with GPAC's ongoing 5,000-meter diamond drill program at the Kesar Project and preparations for 2025 field work at the Wild Dog Project. The company also announced the immediate resignation of COO and Director Neil Motton and Director Liza Gazis, marking a shift in focus from Victoria, Australia to PNG operations.

Great Pacific Gold (TSXV: GPAC) (OTCQX: FSXLF) announces preparations for its 2025 field program at the Wild Dog Project in Papua New Guinea. The project spans 1,424 km² and features an 11km-long epithermal vein target within the Nengmukta Fault System. Historical drilling highlights include intersections of 11.3m @ 16.8 g/t AuEq and 13.5m @ 9.0 g/t AuEq. The project hosts multiple high-grade epithermal gold-copper deposits and promising copper-gold porphyry targets. Selected historical stockpile samples showed exceptional grades up to 242 g/t Au and 11.0% Cu. The company plans to begin preparatory exploration work following road access re-establishment in Q3.