VANCOUVER, British Columbia, Oct. 28, 2024 (GLOBE NEWSWIRE) — Great Pacific Gold Corp. (“Great Pacific Gold,” “GPAC,” or the “Company”) (TSXV: GPAC) (OTCQX: FSXLF) (Germany: V3H) is providing an update on one of its core projects, the Wild Dog Project (“Wild Dog” or the “Project”) located on the island of New Britian, Papua New Guinea.
With the 5,000 meter drill program underway at the Company’s Kesar Project, preparations have begun for a 2025 field program at its Wild Dog Project in East New Britain Province. Wild Dog is a district scale land package with significant potential to host multiple high-grade epithermal gold-copper deposits as well as promising copper-gold porphyry targets.
Wild Dog Highlights
- A district scale 1,424 km2 project within a major north-northeast trending structural corridor 26km long and over 400m wide (Nengmukta Fault System)
- Within the Nengmukta Fault System, the Project hosts an 11km long set of epithermal vein targets known as the Wild Dog – Gunsap structural corridor (Figure 1)
- Approximately 1,100 meters of the 11km long epithermal vein target was mined (2008-2014) to a shallow depth via open pit mining focused on oxide material
- Top priority exploration targets on the largely unexplored portions of the Wild Dog Project include the Kavursuki and Gorocha Hill epithermal vein targets in the Wild Dog – Gunsap structural corridor
- Various porphyry intrusion copper-gold targets occur including the Magiabe target, which has an associated Induced Polarisation geophysical anomaly but has never been drill tested (Figure 2)
- Historical data includes soil sampling, rock sampling, trenching and drilling over limited amounts of the exploration area
- Historical drilling intercepts1 in the Wild Dog prospect area epithermal vein structure include:
- Hole 90-WDD-086 intersected 11.3m @ 16.8 g/t AuEq2 from 18.5 meters (16.2 g/t Au, 0.35%Cu)
- Hole 87-WDD-040A intersected 13.5m @ 9.0 g/t AuEq from 165 meters (8.56 g/t Au, 0.31% Cu)
- Hole 87-WDD-027 intersected 6.2m @ 19.3 g/t AuEq from 118 meters (19.1 g/t Au, 0.08% Cu)
- Selected samples from the Historic Stockpiles near the Wild Dog prospect area returned bonanza grades, including:
- Sample 30-104 assayed 242 g/t Au, 601 g/t Ag and 9.52% Cu
- Sample 68-001 assayed 123 g/t Au, 350 g/t Ag and 11.0% Cu
“With the Kesar drill program in full swing, it is now time to start preparatory exploration work at Wild Dog.” stated Greg McCunn, CEO of Great Pacific Gold. “With road access re-established by GPAC in Q3, the management team will be on site in November to develop our 2025 work program. We are excited about the potential of this highly prospective property and look forward to getting boots on the ground.”
About Wild Dog
The Project is located 50 kilometers south south-west of Rabaul in the Baining Mountains of the Gazelle Peninsula, East New Britian Province, PNG. Access to the property from the ports of Kokopo and Rabaul is via 40 kilometers of all weather road to Reit, and then to the Project property via a 12km unsealed road recently upgraded and rehabilitated by the Company.
The town of Kokopo has a population of approximately 50,000 and a major wharf facility and port are located in the nearby Port of Rabaul. The area is regularly serviced by flights directly from the capital city of Port Moresby.
The Project consists of two granted exploration licenses, EL 2761 and EL2516.
Tetra Tech Coffey Pty Ltd are currently acting as the environmental consultant for the Company, undertaking a site assessment involving the collection of water and sediment samples to understand the current site conditions.
Figure 1 Wild Dog Project Location and 11km target area for epithermal vein systems.
Figure 2 Top Priority Epithermal Vein target zones and Magiabe Cu-Au Porphyry Target
On behalf of Great Pacific Gold
Greg McCunn
Chief Executive Officer and Director
Notes:
(1) Drill highlights presented above are core lengths (not true widths), see news release dated July 5, 2023
(2) Gold equivalent (AuEq) exploration results are calculated using longer-term commodity prices with a copper price of US$4.00/lb, and a gold price of US$1,750/oz.
For further information visit gpacgold.com or contact:
Investor Relations
Direct: (604) 229-9445
Toll Free: 1(833) 923-3334
Email: [email protected]
Qualified Person
The technical content of this news release has been reviewed, verified and approved by Rex Motton, AusIMM (CP), COO of Great Pacific Gold, 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.
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.
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