Great Pacific Gold has recently started reporting a steady stream of news flow after the completion of a deal to acquire various mining exploration and development assets in Papua New Guinea (PNG) over the past year.
The large land package totals approximately 2166 square kilometers and includes land adjoining K92 Mining’s tenements in the Eastern Highlands. Great Pacific Gold’s CEO is no stranger to this area of the world as he also happens to be the co-founder and former President of K92 Mining, which has grown from a micro-cap situation to having a market capitalization of close to $2 billion. Slusarchuk notes, “K92 Mining has been a great success for all stakeholders, and in my opinion, the best days for that company are ahead. It is rapidly growing by every measure. To have another shot at success in this area of the world is indeed exciting. PNG has some amazing geology and some incredibly good geologists, and I think we are very well positioned with GPAC.”
Great Pacific has four projects within PNG: Kesar Creek, Arau, Wild Dog, and Tinga Valley. Kesar Creek is contiguous with and to the northwest of K92 and has been the most recent project to generate news. Recently, the company announced multiple high-grade gold assays from a sampling of underground workings, outcrop, and soils at Kesar Creek. Assays included a rock chip sample grading a whopping 244 grams per tonne of gold.
In addition to rock chip sampling, the soil sampling program principally targeted the West and Central vein zones at Kesar Creek. In total, the 332 soil samples returned numerous significant gold grades over a strike length of 5.5 km, including a high-grade assay of 20.9 g/t Au.
Slusarchuk explains, “We are very active in PNG right now. We have several drill pads constructed at the Arau project and are preparing for our first phase of drilling there. We also have a crew back at Kesar to tighten up some of the soil grids as we get that project drill ready. We’ve also announced some early progress related to the recently granted Wild Dog license, which is quite an advanced stage exploration situation in that there has been a fair bit of work there done in the past. We have a good team in PNG and are eager to execute on the ground in these months ahead.”
