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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.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has appointed Ron Gawi as Country Manager for Papua New Guinea, effective immediately. Mr. Gawi brings over 20 years of experience from the Papua New Guinea Department of Minerals and Energy and Mineral Resources Authority (MRA), where he reached the position of Manager, Project Coordination. His extensive background in permitting and managing social license to operate in PNG is considered critical for the company's long-term success.
Mr. Gawi's experience includes overseeing seven operating mines, negotiating Integrated Benefits Package Agreements, and managing government and diplomatic relations. He has also served as Country Manager for Highlands Pacific for a decade and is a member of the mining committee of the PNG Chamber of Resources and Energy (CORE).
The appointment coincides with Great Pacific Gold's maiden drill program at Kesar, highlighting the company's increased focus on exploration activities in Papua New Guinea. Benjamin Trotsky, the previous Country Manager, will transition to an advisory role to ensure a smooth handover.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has increased its drilling program at the Kesar Project in Papua New Guinea from 2,700 meters to up to 5,000 meters. The company has mobilized two diamond drill rigs to the site, focusing on the Anteruno prospect. Key highlights include:
- Identification of a main vein-set/stockwork zone (~1,000m x 200m)
- High-grade gold-bearing structures forming subparallel/sheeted vein sets
- Four drill pads prepared with four more planned
- Initial four holes planned for 1,900 meters from two operating pads
- Total program of up to 13 holes for 5,000 meters
The expansion follows high-grade geochemistry results reported earlier this year, including 47.6 g/t and 36.7 g/t gold in soils, 224 g/t gold in an artisanal working, and 116 g/t gold in an outcrop. Drilling is expected to commence imminently.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has provided an update on its 100% owned Reedy Creek Project in Victoria, Australia, which is now considered a non-core asset. The company is evaluating its non-core Australian assets to maximize value, as part of its focused exploration strategy announced on September 5, 2024.
Highlights of Reedy Creek include:
- Two exploration tenements covering 445km2 of historic workings
- Located adjacent to Southern Cross Gold's Sunday Creek Project
- Permits and key land access agreements in place
- Previous drilling results include 8.0m at 42.4 g/t Au from 68 meters
- Recent shallow RAB drilling intercepted 4.0m at 30.4 g/t from 20 meters
CEO Greg McCunn stated that the company aims to monetize Reedy Creek to fund increased activity in Papua New Guinea, where drilling is set to commence at the Kesar Creek Project, adjacent to K92 Mining.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has announced high-grade Phase 2 soil sampling results and a focused drilling program at its Kesar Project in Papua New Guinea. The project, contiguous with K92 Mining's tenements, has shown promising results, including soil samples assaying 47.6 g/t Au and 35.7 g/t Au, and rock samples of 94.3 g/t Au and 56.5 g/t Au. GPAC plans to commence a Phase 1 diamond drill program in October, targeting high-grade epithermal vein style gold-copper mineralization with 2,000 to 3,000 meters of planned drilling using two diamond drill rigs for two months.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has announced a focused exploration strategy for its core projects in Papua New Guinea (PNG) and Victoria, Australia. The company aims to develop gold-copper resources on five key assets:
- Kesar in PNG's Eastern Highlands, adjacent to K92 Mining's tenements
- Arau in PNG's Eastern Highlands, including the Mt. Victor target
- Wild Dog in PNG's East New Britain province
- Lauriston in Victoria, Australia, near Agnico Eagle's Fosterville operations
- Walhalla in Victoria, Australia, including the Pinnacles target
GPAC has completed various exploration activities across these projects and plans to publish NI 43-101 compliant technical reports for Lauriston and Walhalla. The company is also evaluating options for its non-core Australian assets.
Great Pacific Gold Corp. (GPAC) has completed Phase 2 sampling at the Kesar Creek Project in Papua New Guinea. The program collected 667 soil samples and 8 rock chip samples. Kesar Creek is located near multiple epithermal vein and porphyry deposits, adjacent to K92 Mining Inc.'s project. Previous GPAC sampling revealed high-grade gold results aligning with K92's Kora Deposit, which has 2.3M oz at 10.24 g/t Au equivalent (M&I) and 3.9M oz at 8.6 g/t Au equivalent (Inferred).
The Phase 1 program yielded high-grade assays, including 244 g/t Au from underground workings and 116 g/t Au from outcrop. GPAC's COO, Rex Motton, expressed optimism about future results and plans for additional work, including trenching of key areas.
Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) has appointed Greg McCunn as CEO and director, effective August 1, 2024. McCunn, a Professional Engineer with over 30 years of experience in mining, has led multiple junior mining companies and raised over $600 million in financing. He has also completed over $1 billion in M&A transactions.
Bryan Slusarchuk, the current CEO, will resign but remain as Capital Markets advisor, focusing on capital markets and supporting operations in Papua New Guinea (PNG). The company has acquired a large land package in PNG and projects in Victoria, Australia. Recent discoveries, like at Comet, showcase high-quality targets being explored.
In connection with McCunn's appointment, he has been granted 1,000,000 stock options at $0.70 per share and 100,000 restricted share units.
