Vancouver, British Columbia--(Newsfile Corp. - December 12, 2024) - Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: FSXLF) (FSE: V3H) ("Great Pacific Gold," "GPAC," or the "Company") is pleased to provide an update on its Kesar Project ("Kesar" or the "Project").
Highlights
East Vein Zone mapping has identified a previously unknown high-priority drill target
Mineralized hydrothermal breccia system exposed by artisanal miners
Wide zones of alteration and brecciation to be targeted with upcoming January drilling
Anteruno diamond drilling program progressing well:
~1,400 meters of drilling completed to-date in three drill holes
Hole KDH-04 is in progress with a fifth hole planned to be complete by early January
Recent mapping and sampling has focussed on the East Vein Zone, located approximately 2 km NE of the Anteruno target (Figure 1), where a 5 hole drill program is currently underway. Ongoing drilling at Anteruno has confirmed mineralized veins and structures hosted in granodiorite.
The mapping and sampling program at the East Vein Zone has encountered numerous artisinal underground workings and adits within outcropping hydrothermal breccia (Figures 2 and 3). Closer inspection found sulphide mineralization within brecciated granodiorite and metasedimentary rocks (Figures 4 and 5).
"Importantly, this degree of brecciation has not previously been observed elsewhere within the Kesar project," commented Chris Muller, Director of Great Pacific Gold. "This suggests that the East Vein Zone may represent the core or feeder to a large-scale mineralized system defined by Anteruno and the Eastern and Central Vein Zones over an area of approximately 3 by 4km. To have identified this is a potential game changing development and we are fortunate this has occurred so early in the initial drill program."
"This recent work continues to support the thesis that Kesar represents the north-west extension of the Kainantu Mine (K92 Mining) deposits, located approximately 8 km from the Project," said Greg McCunn, CEO of Great Pacific Gold. "With the recently announced $5 million financing, we are fully funded to drill this high-priority East Vein Zone target at Kesar and execute on our announced 2025 work program at Wild Dog."
Figure 1: Kesar area targets Anteruno and East Vein Zone
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.
Qualified Person
The technical content of this news release has been reviewed, verified and approved by Callum Spink, the Company's Vice President, Exploration, who is a member of the Australian Institute of Geoscientists, MAIG, and a Qualified Person as defined by National Instrument NI 43-101 Standards of Disclosure for Mineral Projects. Mr. Spink is responsible for the technical content of this news release.
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.
