PORT MORESBY, Papua New Guinea, June 19, 2024 (GLOBE NEWSWIRE) — Great Pacific Gold Corp. (“Great Pacific Gold,” “GPAC,” or the “Company”) (TSXV: GPAC) (OTCQX: FSXLF) (Germany: 4TU) is pleased to announce the engagement of Tetra Tech Coffey Pty Ltd as the environmental consultant for the Company’s Wild Dog Project (EL 2516) located in East New Britain Province, Papua New Guinea.
Tetra Tech Coffey will work closely with GPAC personnel as the Company commences work at EL 2516, which was granted on April 22, 2024. Specifically, Tetra Tech Coffey will begin by undertaking a site assessment involving the collection of water and sediment samples to understand the current site conditions. Tetra Tech Coffey will commence work onsite once access road rehabilitation is complete.
Tetra Tech Coffey is a specialist consultancy firm that has delivered projects in Papua New Guinea for over 40 years. With proven experience in mining projects from exploration to closure, their environmental and social management assessment (ESMA) group has delivered services including permitting, environmental approval documents, strategy and planning, technical field surveys, geographic information systems, environmental and social baseline studies, impact assessment, stakeholder engagement, environmental and social management plans, independent reviews and auditing, and closure planning.
GPAC CEO, Bryan Slusarchuk, states, “The engagement of Tetra Tech Coffey is an example of our commitment to environmental responsibility as a cornerstone value. We look forward to working closely with all stakeholders in East New Britain Province, the MRA and CEPA as we advance at Wild Dog .”
The work program submitted, reviewed and approved by the MRA, prior to the issuance of license EL 2516 details plans for the first ever modern, systematic testing of the this highly prospective area. In addition to the benefits inherent with exploration including employment creation, the work program also commits all parties to other stakeholder benefits related to the environment, much-needed road rehabilitation that will benefit local communities while also providing the Landowners Association potential for equity participation should the project advance into production.
About GPAC
Great Pacific Gold has a portfolio of high-grade gold projects in Papua New Guinea (“PNG”) and Australia.
In PNG, Great Pacific Gold recently assembled a 2500 sq. km mineral exploration land package in PNG. The land package comprises of exploration licenses (EL). It includes both early-stage and advanced-stage exploration targets with high-grade epithermal vein and porphyry-style mineralization present.
The Arau Project consists of two exploration licenses, located in the Kainantu region, and includes the Mt. Victor Prospect, where previous drilling found a multiple phase intrusion complex hosting copper and gold mineralization.
The Wild Dog Project consists of two granted exploration licenses, EL 2761 and 2516, located on the island of New Britain and about 50 km southwest of Rabaul and Kokopo, PNG.
The Kesar Creek Project consists of one exploration license, EL 2711, and is contiguous with the K92 Mining Inc. tenements.
The Tinga Valley Project consists of one exploration license, EL 2720. The OK Tedi Copper Gold Mine is 140km to the northwest along the same belt is a superb geological comparison to the Tinga Valley Property.
In Australia, Great Pacific Gold began with two, 100% owned, high-grade gold projects called the Lauriston and Golden Mountain Projects, and has since acquired a large area of granted and application tenements containing further epizonal (low-temperature) high-grade gold mineralization and associated intrusion-related gold mineralization all in the state of Victoria, Australia. The Great Pacific Gold land package, assembled over a multi-year period, notably includes the Lauriston Project which is a 535 sq. km property immediately to the south of and within the same geological framework that hosts Agnico Eagle Mines Ltd’s Fosterville Gold Mine and associated exploration tenements. The Golden Mountain Project is an intrusion-related gold project on the edge of the Strathbogie granite and occurs at the northern end of the Walhalla Gold Belt. The acquired projects include the epizonal gold Providence Project containing the Reedy Creek goldfield which adjoins the Southern Cross Gold’s Sunday Creek exploration project and a large group of recently consolidated granted tenements called the Walhalla Gold Belt Project, which contain a variety of epizonal and intrusion related style gold mineralization. Additionally, Great Pacific Gold has another gold-focused project called the Moormbool project which has epizonal style gold mineralization and associated potential intrusion-related gold mineralization, as well as the Beechworth Project occurs in the northeast of the state and contains intrusion related and mesozonal gold mineralization.
All GPAC’s properties in Australia are 100% owned and have had historical gold production from hard rock sources despite limited modern exploration and drilling.
Qualified Person
The technical content of this news release has been reviewed, verified and approved by Rex Motton, AusIMM (CP), COO of GPAC, a Qualified Person under the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. Motton is responsible for the technical content of this news release.
On behalf of GPAC
Bryan Slusarchuk
Chief Executive Officer and Director
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. Mineralization at adjacent properties is not necessarily indicative of mineralization on Great Pacific Gold’s properties.
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.
For further information: Adam Ross, Investor Relations, Direct: (604) 229-9445, Toll Free: 1 (833) 923-3334, Email: [email protected]
