Great Pacific Gold Announces New High-Grade Assays at Comet Discovery Including 4m at 22.3 g/t Gold
Great Pacific Gold Announces New High-Grade Assays at Comet Discovery
Including 4m at 22.3 g/t Gold
June 21, 2024. Great Pacific Gold Corp . ("Great Pacific Gold,” “GPAC,” or the "Company") (TSXV: GPAC)
(OTCQX: FSXLF) ( Germany: 4TU) is pleased to announce new high-grade gold assays from a follow up
diamond drill hole of the Comet gold discovery at the Lauriston Gold Project in Victoria, Australia (Figure
1). Diamond drill hole CDH10 intersected 4.0 at 22.3 g/t Gold from 101.9m.
This high -grade intercept, together with additional gold assays received , occur within and below the
previously identified main zone of the initial high-grade reverse circulation (RC) percussion discovery hole
CRC07 (8m at 106 g/t Gold including 5m at 166 g/t Gold including 2m at 413 g/t Gold including 1m
at 468 g/t Gold and 1m at 358 g/t Gold (from 95 metres) (see news release January 11, 2024)).
In addition to the high -grade gold assays from CDH10, the Company also received a number of deeper
high-grade gold intervals from diamond drill hole CDH09 including 0.35m at 55.6 g/t Gold from 130.4m,
0.2m at 22.23 g/t Gold from 133.8m and 0.2m at 15.67 g/t Gold from 170.75m. These high-grade assays
at depth show the significant potential of the system being drilled at Comet (see Figure 2 – Updated Comet
Cross Section below).
GPAC Chief Operating Officer and Director, Rex Motton, states, “Our latest gold assays intersected stacked
zones of mineralization providing us with important geological information on the potential scope of the
system. Importantly, high- grade gold at depth was associated with widespread quartz veining. Drilling
has focused on understanding the controls of the gold mineralization and led to the development of a
structural geological framework. This structural setting highlights several possible high- grade targets
deeper and further west of the current drilling pattern, as well as along strike. We are looking forward to
continuing drilling to better understand the controls on this highly prospective set of gold mineralized
structures and to discover more high-grade gold mineralization.”
Figure 1 – Comet Location Maps
Figure 2 – Updated Comet Cross Section 5850093mN
Figure 3 - Visible Gold Contained within CDH10 Quartz Vein Associated with Arsenopyrite and Stibnite needles
Assays reported in this news release cover nine diamond drill holes totalling 1,380m. See Table 1 for all
gold assay results received from the diamond drill program at Comet.
The Comet gold mineralization is hosted by Ordovician slates and sandstones, which are folded in a
series of north -south striking concertina folds and regionally form part of the Fosterville Sub -Domain,
east of Bendigo . The west dipping thrust fault at Comet, known as the Comet fault zone, is associated
with the gold mineralization at the prospect. This high -grade gold discovery is located within the core
of the Comet Anticline , where it is intersected by the Comet Fault Zone, which is a similar structural
setting of the mineralization present at Fosterville. Further diamond drilling has determined that the
Comet anticlinal fold is moved westerly with depth below the main Comet thrust melange - fault zone
and that a set of flat lying auriferous extensional quartz veins occurs below the main thrust fault.
The Comet prospect has epizonal characteristics of Au -As-Sb mineralization similar to the Fosterville
gold deposit. Other epizonal Victorian projects include the Costerfield and Sunday Creek gold deposits.
A review of the drilling done to date has meant that there remain sections of the drilling that require
further core cutting and assaying particularly in the lower part of CDH02 drillhole.
Figure 4 – Deformation model
An example of the mechanisms for the
development of this large structural framework
is presented in Figure 4. East-West compression
causes the development of bedding plane slip
surfaces, thrusts and extension arrays through
progressive coaxial shortening (Sibson and
Scott, 1998). West dipping thrust faults and
extensional flat lying quartz veining especially in
the zone of east dipping beds east of the
anticline are dilational and create foci for gold
mineralization to occur. Later strike slip faulting
disrupted and fractured the gold mineralization
previously deposite d.
The model indicates that further gold
mineralization will occur along the west dipping
thrust faults especially when in proximity to the
core of the anticline, as well as within the
extensional quartz veined array.
Apart from planned drilling along strike, further
drilling is planned west of CDH02 to determine
the location of the Comet Anticline and Comet
Thrust intersection repetition (Figure 5).
Figure 5 – Comet drill targets for further exploration.
Drill Results and Intercepts:
HoleID East North Azimuth
(deg.) Dip (deg.) From (m) To (m)
Downhole
Interval
(m)
Au g/t
CDH02 263510.26 5850092.31 90.12 -78.7 117.0 124.1 5.1 0.71
and 131.0 133.5 2.5 0.98
and 136.45 140.0 3.55 1.29
and 186.7 191.1 4.4 0.72
and 217.7 218.9 1.2 0.68
CDH03 263526.67 5850125.28 84.22 -64.6 85.0 88.0 3.0 1.03
and 101.0 102.0 1.0 1.04
CDH04 263524.08 5850124.16 82.72 -74.8 103.0 105.0 2.0 0.60
and 112.0 115.0 3.0 0.36
and 148.0 149.0 1.0 0.51
CDH05A 263519.28 8580092.64 92.12 -65.6 81.50 84.10 2.6 0.48
and 86.65 87.65 1.0 0.32
and 90.95 92.95 2.0 4.79
CDH06 263514 5850093 75 -63 88.90 90.00 1.85 0.67
and 97.45 98.00 0.55 0.97
and 100.78 102.5 2.94 0.81
and 104.95 105.30 0.4 10.90
CDH07 263514.03 5850093 68 -72 105.55 115.95 10.40 1.21
and 119.25 120.65 1.4 0.64
CDH08 263511 5850090 107 -70 95.9 98.2 2.3 0.66
and 99.8 105.3 5.5 0.92
and 107.75 110.45 2.7 2.18
and 114.6 116.9 2.3 0.35
and 141.7 141.97 0.27 0.67
and 151.35 151.70 0.35 0.33
and 168.75 169.3 0.55 6.26
CDH09 263510 5850090 82 -73 117.45 118.45 1.0 10.62
and 130.40 130.75 0.35 55.60
and 133.8 134.0 0.2 22.63
and 170.75 170.95 0.2 15.67
CDH10 263532 5850120 143 -69 101.9 105.9 4.0 22.3
Except for diamond drill holes CDH09 and CDH10 that use a 1.0 g/t Au cut off, the above results use a 0.3
g/t Au cut-off grade and maximum 2m internal waste. True widths are not known due to the complexities
of the mineralization. Additional drilling is required to determine true widths. The assays are not capped.
Quality Assurance / Quality Control
All assays were subject to quality control measures appropriate for percussion drilling with duplicates,
blanks and commercially available standards with the expected results from the samples submitted. All
assays were conducted by Onsite Laboratory Services Ltd (ISO: 9001), located in Bendigo, Victoria, using
fire assay techniques with a 25g or 50g charge and ICP or AAS finish. The quality control results are
consistent.
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 (ASX:SXG) 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.