Great Pacific Gold Reports Multiple High-Grade Gold Assays from Kesar Creek Project in Papua New Guinea
Great Pacific Gold Reports Multiple High-Grade Gold Assays from Kesar Creek Project in
Papua New Guinea
May 13, 2024. Great Pacific Gold Corp. ("Great Pacific Gold,” “GPAC,” or the "Company") (TSXV:
GPAC) (OTCQX: FSXLF) (Germany: 4TU) is pleased to announce multiple high-grade gold assays from
recent sampling of underground workings, outcrop and soils at the Kesar Creek Project in Papua New
Guinea (Figure 1). Assays include a sample grading 244 g/t gold.
Highlights:
• Multiple high -grade gold assays from various vein ed zones at Kesar Creek to 244 g/t
gold.
• Kesar Creek Project is short distance from multiple epithermal vein and porphyry
deposits and targets identified on the adjacent K92 Mining Inc. project (see Figure 1).
• High-grade gold results were obtained from veins that align with the orientation and
strike of K92 Mining Inc.’s prolific Kora Deposit.
The Kesar Creek Project consists of one exploration license, EL 2711, and is contiguous with the K92
Mining Inc. tenements, approximately 10 km to the northwest and along strike from the Kainantu
Gold Mine owned and operated by K92 Mining Inc (Figure 2).
Figure 1- GPAC’s PNG projects map.
Thirty-two (32) rock chip sampl es were taken from outcrop and artisanal underground works and
returned high-grade assays including 244 g/t Au (underground working), 116 g/t Au (outcrop), 36.5
g/t Au (float) and 33.4 g/t Au (underground working). Of the 32 samples, 19 samples were above 1
g/t Au.
Additional to the rock chip sampling, a 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 (Figure 3).
The initial first-pass soil program used a 200 m eter by 100 m eter or 50-meter grid and was very
broadly based to cover most of the known prospective ground and to get an indication of the location
of the most prospective larger structures. Gold mineralization was found in samples covering the
entire 5.5 km of sampled strike. Multiple parallel vein sets occur in close proximity within each of the
three main vein zones. Infill and extension soil sampling will further enhance the results to date. A
second phase soil sampling program is being done to define the target areas for an upcoming drill
program at Kesar Creek (Figure 4).
Great Pacific CEO, Bryan Slusarchuk, states, “The high gold grades encountered in this program are
significant, especially when taking into consideration where the sampling was done. The Western
Vein Zone on the Kesar Creek Project aligns with the Kora Vein system on the adjacent K92 Mining
Inc. property. Kora, as many investors will know, is exceptionally robust, high grade and sizeable
gold-copper deposit. This is an excellent start at Kesar which was made possible via the hard work
and effective execution by the ground team, comprised mainly of employees and contractors from
the local communities.”
Figure 2 – Kesar Creek Gold-Copper Project
Figure 3 - Kesar Creek Geochemistry Results Map
Figure 4 – Kesar Creek Geochemistry Map with Proposed Sampling
Quality Assurance / Quality Control
All assays were subject to quality control measures appropriate for reconnaissance rock chip
sampling with duplicates, blanks and commercially available standards with the expected results
from the samples submitted. All assays were conducted by Intertek Minerals Ltd (ISO: 9001), located
in Perth, Western Australia, using fire assay techniques with a 30g charge and ICP -OES 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 Walhal la 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 gu arantees 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 i nclude, 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]