Great Pacific Gold Provides Corporate Update on Wild Dog, Kesar Drilling and AGM Results
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 (GPAC) ha fornito aggiornamenti su più progetti e sui risultati dell'AGM. Al Progetto Kesar, i lavori di perforazione diamantina stanno procedendo con circa 1.000 metri completati utilizzando due trivelle, con l'obiettivo di completare 2.500 metri su cinque fori entro la fine dell'anno. Il programma continuerà fino a gennaio 2025. Al Progetto Wild Dog, dopo le visite del team esecutivo, GPAC pianifica un programma di esplorazione per il 2025 concentrandosi su un corridoio di 3 km con operazioni minerarie storiche. Il sito mostra un potenziale sistema ad alta legge di oro-rame con alterazioni intense e breccia. Durante l'AGM, gli azionisti hanno approvato tutte le risoluzioni, comprese le rielezioni dei direttori e la nomina di BDO Canada LLP come revisori contabili. L'azienda ha anche approvato un nuovo piano di compenso basato su titoli e ha concesso 775.000 unità azionarie vincolate.
Great Pacific Gold (GPAC) proporcionó actualizaciones sobre múltiples proyectos y los resultados de su AGM. En el Proyecto Kesar, la perforación diamantina avanza con aproximadamente 1.000 metros completados utilizando dos equipos, con el objetivo de alcanzar los 2.500 metros en cinco agujeros para fin de año. El programa continuará hasta enero de 2025. En el Proyecto Wild Dog, tras las visitas del equipo ejecutivo, GPAC planea un programa de exploración para 2025 enfocado en un corredor de 3 km con operaciones mineras históricas. El sitio muestra un alto potencial de sistemas de oro-cobre con intensa alteración y breccia. En la AGM, los accionistas aprobaron todas las resoluciones, incluyendo la reelección de directores y la designación de BDO Canada LLP como auditores. La compañía también aprobó un nuevo plan de compensación basado en valores y otorgó 775,000 unidades de acciones restringidas.
그레이트 퍼시픽 골드 (GPAC)는 여러 프로젝트와 연례 총회 결과에 대한 업데이트를 제공했습니다. 케사르 프로젝트에서는 두 개의 장비를 사용하여 약 1,000미터의 다이아몬드 드릴링이 진행 중이며, 연말까지 다섯 개의 구멍에서 총 2,500미터를 완료할 예정입니다. 이 프로그램은 2025년 1월까지 계속될 것입니다. 와일드 독 프로젝트에서는 경영진의 현장 방문 후 GPAC가 2025년 탐사 프로그램을 계획하고 있으며, 역사적 채광 작업이 있는 3km의 구역에 집중하고 있습니다. 이 사이트는 강한 변질과 브레시아가 있는 고등급 금-구리 시스템의 잠재력을 보여줍니다. AGM에서 주주들은 모든 결의안을 승인했으며, 이사회 재선과 BDO 캐나다 LLP를 회계 감사인으로 임명하는 것을 포함했습니다. 회사는 또한 새로운 증권 기반 보상 계획을 승인하고 775,000개의 제한 주식 단위를 부여했습니다.
Great Pacific Gold (GPAC) a fourni des mises à jour sur plusieurs projets et les résultats de son assemblée générale. Au Projet Kesar, le forage diamanté progresse avec environ 1.000 mètres complétés à l'aide de deux foreuses, visant à achever 2.500 mètres sur cinq forages d'ici la fin de l'année. Le programme se poursuivra jusqu'en janvier 2025. Au Projet Wild Dog, suite aux visites du site par l'équipe dirigeante, GPAC prévoit un programme d'exploration pour 2025 axé sur un corridor de 3 km avec des opérations minières historiques. Le site présente un potentiel de système or-cuivre de haute qualité avec des altérations intenses et de la brèche. Lors de l'AGM, les actionnaires ont approuvé toutes les résolutions, y compris les réélections de directeurs et la nomination de BDO Canada LLP en tant qu'auditeurs. La société a également approuvé un nouveau plan de rémunération basé sur des titres et a accordé 775.000 unités d'actions restreintes.
Great Pacific Gold (GPAC) hat Updates zu mehreren Projekten und den Ergebnissen der Hauptversammlung veröffentlicht. Im Kesar-Projekt wird das Diamantbohren fortgesetzt, mit etwa 1.000 Metern, die mit zwei Bohrgeräten abgeschlossen wurden, mit dem Ziel, bis Ende des Jahres 2.500 Meter über fünf Bohrlöcher abzuschließen. Das Programm wird bis Januar 2025 fortgeführt. Im Wild Dog-Projekt, nach Besuchen des Führungsteams vor Ort, plant GPAC ein Explorationsprogramm für 2025, das sich auf einen 3 km langen Korridor mit historischen Bergbauaktivitäten konzentriert. Der Standort zeigt Potenzial für ein hochgradiges Gold-Kupfer-System mit intensiver Alteration und Brekzie. Auf der Hauptversammlung haben die Aktionäre alle Beschlüsse, einschließlich der Wiederwahl von Direktoren und der Ernennung von BDO Canada LLP als Wirtschaftsprüfer, genehmigt. Das Unternehmen genehmigte auch einen neuen wertpapierbasierten Vergütungsplan und gewährte 775.000 beschränkte Aktieneinheiten.
- Diamond drilling progress at Kesar with ~1,000 meters completed and on track for 2,500 meters
- Wild Dog project shows potential for high-grade gold-copper system
- All AGM resolutions approved by shareholders
- None.
Vancouver, British Columbia--(Newsfile Corp. - November 26, 2024) - Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) (FSE: V3H) ("Great Pacific Gold," "GPAC," or the "Company") is providing a corporate update on its Wild Dog Project ("Wild Dog"), its ongoing diamond drilling program at the Kesar Project ("Kesar") and its recently held Annual General Meeting (the "AGM").
Highlights
- GPAC executive team recently visited Kesar and Wild Dog
- Kesar Anteruno diamond drilling program progressing well:
- ~1,000 meters of drilling completed to-date with two diamond rigs turning
- Holes KDH-01 and KDH-02 tested NW-SE Anteruno structures drilling from North to South
- Hole KDH-03 is testing a parallel structures drilling South to North
- 2,500 meters of drilling and five holes expected to be completed by year-end, with drilling planned to continue through Christmas and into January
- East Vein Target mapping and soil sampling underway with drilling expected in Q1 2025
- Wild Dog Site Visit reiterated that Wild Dog is a mid-stage exploration project with high-grade and bulk tonnage potential
- Previous small scale open pit mining has revealed a high-grade gold-copper system with intense alteration and brecciation
- Epithermal/oxide system open along strike and at depth
- Post the 2024 completion of various road access projects, Wild Dog 2025 program developed to include:
- infrastructure establishment and data consolidation, and
- diamond drilling focused on 3km portion of Wild Dog structure
- GPAC's AGM was held on November 26, 2024 and all proposed resolutions were approved including the re-election of the five Directors
"The executive team's inaugural visit to Wild Dog, alongside our in-country GPAC personnel, provided an invaluable opportunity to see the tremendous potential of this project firsthand," said Greg McCunn, CEO of Great Pacific Gold. "Joining me on this visit were our new Vice President of Exploration, Callum Spink, Vice President of Corporate Development, Mick Carew, and Director Chris Muller. After the visit we planned out an extensive exploration program for 2025 focused on a 3km portion of the Wild Dog corridor. This area had historical mining operations which exposed intense and extensive brecciation, alteration and veining, pointing to a substantial hydrothermal system as indicated by high-grade intervals from previous drilling."
Mr. McCunn continued, "Meanwhile, at our Kesar Project, diamond drilling is progressing well, with two drills active and approximately 1,000 meters completed to date. We are encouraged by the visual results and are planning to extend the program into 2025 to include testing the highly prospective East Vein Zone, located 2 kilometers north of current drilling at Anteruno. We look forward to updating the market with results as they become available."
Annual General Meeting
GPAC is also pleased to announce the results of the AGM held on November 26, 2024. At the AGM, shareholders approved all motions put forth including re-election of Greg McCunn, Chris Muller, Robert McMorran, Iain Martin and Charles Hethey. The shareholders also approved the appointment of BDO Canada LLP as the auditors of the Company, as well as the
The SBC Plan permits the grant of Restricted Share Units (as defined in the Equity Plan) and Deferred Share Units (as defined in the SBC Plan) (Restricted Share Units and Deferred Share Units collectively referred to as "Awards"). The maximum number of shares issuable pursuant to the Awards that may be granted under the SBC Plan is fixed at 10,022,854. Further, the maximum number of shares for which Awards and other share compensation issuable to: (i) any participant shall not exceed
In conjunction with the AGM, the GPAC Board approved the granting of 775,000 restricted share units to current and newly hired management and consultants.
On behalf of Great Pacific Gold
Greg McCunn
Chief Executive Officer and Director
For further information visit gpacgold.com or contact:
Investor Relations
Direct: (604) 229-9445
Toll Free: 1(833) 923-3334
Email: info@gpacgold.com
About Great Pacific Gold
Great Pacific Gold has a portfolio of exploration stage projects in Papua New Guinea ("PNG") and Australia. The Company is focused on developing gold-copper resources from its highly prospective land packages. Its core projects include:
- Kesar – located in the Eastern Highlands province of PNG and contiguous with K92 Mining's mine tenements, Kesar is a greenfield exploration project with several high priority targets in close proximity to the property boundary with K92. Multiple epithermal veins at Kesar are on strike and have the same orientation of key K92 deposits such as Kora. Exploration work to date by GPAC at Kesar has shown that these veins have high grades of gold present in outcrop and very elevated gold in soil grades, coincident with aeromagnetic highs.
- Arau – located in Eastern Highlands province of PNG, the Arau Project contains the highly prospective Mt. Victor exploration target with potential for a high sulphidation epithermal gold-base metal deposit. A Phase 1 Reverse Circulation drilling program was completed at Mt. Victor in August 2024, with results pending. The Arau project includes the Elandora licence which also contains various epithermal and copper-gold porphyry targets.
- Wild Dog – located in the East New Britain province of PNG, Wild Dog is a brownfield exploration project with a history of small-scale gold mining. The project contains numerous epithermal and porphyry hydrothermal-magmatic targets evidenced by previous exploration and operations. The Company completed a road refurbishment in August 2024 and access to the project has been established for baseline environmental and exploration work.
- Lauriston – located in the state of Victoria, Australia, the Lauriston project is located on the southern extension of the Fosterville Goldfield Belt and is adjacent to Agnico Eagle's extensive Fosterville tenements and mine operations. Lauriston contains the Comet-Trojan target, a 4.5km long epizonal orogenic system. The discovery hole at Comet intersected 8m at 105 g/t gold and a follow-up drilling program was completed in Q3 2024. The Company is consolidating its information on the Lauriston project and expects to publish an NI 43-101 compliant technical report.
- Walhalla – located in the state of Victoria, Australia, the Walhalla project consists of over 1,400km2 of concessions including the numerous historical mining operations and the recently acquired Woods Point land package. The Company is consolidating its information on the Walhalla project and expects to publish an NI 43-101 compliant technical report. Walhalla contains a high-priority greenfield target called Pinnacles. Extensive soil geochemistry has highlighted a 400m x 1,100m gold mineralized aplitic dyke which contains disseminated sulphides and outcrops at surface. The Pinnacles target is fully permitted and ready for drilling.
The Company also holds a number of other exploration projects including the recently acquired Tinga Valley Project.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Great Pacific Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Great Pacific Gold's limited operating history, its exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Great Pacific Gold does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231462
FAQ
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