Business
Great Pacific Gold Receives Wild Dog Project License in Papua New Guinea
VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- Great Pacific Gold Corp. (“Great Pacific Gold,” “GPAC,” or the “Company”) (TSXV: GPAC) (OTCQX: F
About this update from Great Pacific Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- Great Pacific Gold Corp. (“Great Pacific Gold,” “GPAC,” or the “Company”) (TSXV: GPAC) (OTCQX: FSXLF) (Germany: 4TU) is pleased to announce that it has received notification from the Papua New Guinea Mineral Resources Authority (the “MRA”) of the grant of the advanced stage and past producing Wild Dog Exploration License (“EL”) 2516. Highlights: 1424 sq. km advanced stage project (EL 2761 and 2516) with historic gold production. Multiple high-grade drill hole intercepts near surface historically reported, while the project remains underexplored at depth and along strike, with multiple structures within a 15km x 4km corridor largely untested by drilling, including several epithermal targets and at least three copper-gold porphyry targets. Recent samples collected from a historic stockpile near the Wild Dog Zone include Sample 30104 which assayed 242 g/t Au, 601 g/t Ag, 9.52% Cu and Sample 68001 which assayed 122.5 g/t Au, 350 g/t Ag and 11% Cu. 1260 holes have been drilled on the property, most of which were focussed near surface in support of past mining activities such as grade control drilling covering the historic mined oxide epithermal deposit. Bryan Slusarchuk, CEO of GPAC, states, “EL 2516 covers a well known and highly coveted project, with a history of high grade epithermal near surface drill intercepts reported within a limited strike length of 1km. There is significant potential along strike, with more than 90% of the projected strike of the main structure untested due to a thin layer of volcanic ash masking the prospective target area. Our management and technical team have already been preparing a detailed work program to advance this significant advanced stage asset along strike and at depth. With this EL grant, GPAC now has a multiple high priority gold and copper drill ready targets across the Wild Dog, Arau, Kesar Creek and Tinga Valley Projects.” With this grant of EL 2516, all of the Exploration License Applications (“ELA”) acquired via the transaction through which GPAC purchased Wild Dog Resources have now been converted into Exploration Licenses. 100% of the ground in PNG within GPAC now have EL, with no additional WDR applications pending. Combined, these various EL total approximately 2500 sq. km. Chris Muller, GPAC Director, adds, “The focus...