South Pacific Metals Unveils Surface Rock Samples Grading Up to 10.3% Copper and 1.7 g/t Gold in Emerging Porphyry-Epithermal System at Ontenu NE New Epithermal Structures Discovered Ahead of June Drill Launch in Tier-One Mining District Adjacent to K92
South Pacific Metals Unveils Surface Rock
Samples Grading Up to 10.3% Copper and 1.7
g/t Gold in Emerging Porphyry-Epithermal
System at Ontenu NE
New Epithermal Structures Discovered Ahead of June Drill
Launch in Tier-One Mining District Adjacent to K92
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) -
South Pacific Metals Corp.
(TSXV:
SPMC) (OTCQB: SPMEF) (FSE: 6J00) ("
SPMC
" or the "
Company
") is thrilled to announce the
discovery of a highly prospective gold-copper surface mineralized system at the Ontenu NE target within
its flagship Osena Project in Papua New Guinea, just one kilometre south of and geologically analogous
to K92 Mining's prolific Kainantu gold mine.
Highlights of the Discovery
Rock chip assays returning up to 10.3% copper ("Cu"), 3.1% Cu & 2.06% Cu, and 1.7 g/t
gold ("Au") at surface;
Multiple
plus-500 metre
gold-in-soil anomalies, with values peaking at
216 ppb Au
, over a
greater than
3 kilometre ("km")
mineralized corridor;
Newly mapped NW-SE striking high-sulphidation structures exhibit hallmark Kainantu-
style pathfinders: Au-Cu + Ag-Bi-Te-Zn;
Phase 2 trenching underway at Ontenu Central ahead of drilling, with Trench 1 previously returning:
4 m @ 4.52 g/t Au, 0.13% Cu, 0.23% Zn
16 m @ 1.25 g/t Au
79 m @ 0.75 g/t Au, 981 ppm Cu
Company-owned diamond drill rig
en route to site, with a
priority drill campaign
set to commence
in June. The Ontenu prospects are located along strike in the Kainantu Transfer Zone adjacent to K92
Mining's tenement. The broader
Ontenu Gold-Copper Intrusive Complex
is part of an interpreted
multi-phase intrusive, large-scale gold-copper porphyry system spanning an area of at least 5
km by 3 km.
Metal signatures (Au-Te-Bi) in soil and rock samples suggest a later gold-bearing event
overprinting an earlier porphyry Cu-Au-Mo event, similar to those observed at other major deposits
including K92 Mining's Arakompa Project gold veins.
"These are among the most exciting surface results we've seen to date in this emerging district," said
Michael Murphy, Executive Chair
. "To encounter double-digit copper and high-grade gold at
surface-just steps from an operating mine-underscores Ontenu's exceptional potential. With trenching
underway and our drill rig landing next month, we're entering a new phase of discovery."
Figure 1.
New structure, with proximal samples grading up to
10.3% Copper & 1.63g/t Au
at Ontenu
NE (arrow > 2 metres wide). Inset image right high-sulphide zone with chalcopyrite (CuFeS
2
).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10890/253755_6e303693246a6b01_001full.jpg
Figure 2.
Regional image showing location of Ontenu Central and Ontenu NE
To view an enhanced version of this graphic, please visit:
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Ontenu Northeast Surface Sampling Results
The Company conducted a focused surface exploration campaign at Ontenu Northeast from January to
March 2025, following up on historical work by RGC Limited in the 1980s and more recent airborne
Mobile MT and magnetic surveys (see news release dated
October 16, 2024
). This program involved
grid-based soil sampling, reconnaissance rock sampling, and geological mapping to confirm the
presence of mineralization and identify potential structural trends.
The Ontenu Northeast area spans approximately 2 km by 1.5 km and lies just 1 km from the high-priority
Ontenu Central Copper-Gold Prospect. Previous trenching at Ontenu Central returned strong gold and
copper mineralization, including 4 metres averaging 4.52 g/t Au and 0.13% Cu within a broader 79-
metre interval grading 0.75 g/t Au and 981 ppm Cu (see news release dated
August 27, 2024
). The site
is accessible via road and regional tracks.
The soil sampling grid was established on a 100 m by 100 m spacing, supported by targeted rock
sampling and mapping. The results revealed several NE-SW trending gold-in-soil anomalies with values
above 30 ppb Au and up to 216 ppb Au, often accompanied by Cu, Ag, Bi, Te, and Zn pathfinders.
These features are interpreted as structurally controlled zones prospective for high-grade Au-Cu
epithermal systems. Mapping also identified two significant NW-trending structures hosting extensive
alteration halos, with mineralized zones up to 2 metres wide and rock chip assays grading up to 10.3%
Cu and 1.26 g/t Au (see Appendix 1 for full results).
Figure 3.
Soil grid Cu and rock samples - Ontenu NE Gold-Copper Prospect
To view an enhanced version of this graphic, please visit:
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Figure 4.
Soil Au and rock samples - Ontenu NE Gold-Copper Prospect
To view an enhanced version of this graphic, please visit:
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Figure 5.
Soil grid for gold and high-grade gold and copper rock samples from Ontenu Main to Ontenu
NE on background apparent conductivity (mobile MT)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10890/253755_6e303693246a6b01_005full.jpg
Exploration Potential and Planning
These latest results confirm the presence of mineralization associated with a second geophysical
target-defined by coincident apparent conductivity and magnetic anomalies-within the broader
Ontenu Au-Cu Epithermal-Porphyry prospect area. This growing system is interpreted to host
multiple overlapping deposit types, including:
Epithermal intermediate sulfidation systems
similar to those currently being by K92 Mining Ltd. at the nearby Kainantu Gold Mine;
Au-Bi-Te alkalic epithermal systems
analogous to the world-class Porgera Gold Mine (Porgera
JV/Barrick Gold Corporation); and
Ag-Pb-Zn rich low-sulfidation skarn
associated with limestones and metasediments.
Based on these positive outcomes, the Company plans to return to Ontenu Northeast to complete
additional rock sampling, detailed structural mapping, and site assessments for future drill targeting. The
Company's newly acquired diamond drill rig is scheduled to arrive in Papua New Guinea in June 2025,
with initial drilling set to commence at Ontenu Central.
Phase 2 Trenching Program at Ontenu Central
The Ontenu Prospect continues to show compelling evidence of a large-scale, mineralized porphyry-
epithermal system. As part of ongoing preparations for the upcoming drill program, the Company has
launched a second phase of trenching designed to refine drill hole targeting and expand known
mineralized zones:
The first of four new trenches has been partially completed, with 80 m excavated and sampled, of a
proposed 230 m. All 80 samples collected have been submitted for assay. This trench is
approximately 20 m north of Trench 1.
Excavation has commenced at both a westward extension of Trench 1 by 100 m, and a parallel
trench ~25 m south of this (230 m length proposed). The trenches parallel to Trench 1 are
designed to test the lateral extent of high-grade gold mineralization along strike.
A fourth trench will be initiated to the south, targeting a N-S structural feature associated with prior
high-grade soil samples exhibiting a K92-style metal signature (Au-Bi-Te-Sn).
Additional rock sampling is also being conducted across the greater Ontenu area, where peripheral
results include up to 2.69 g/t Au, 71.3 g/t Ag, 0.26% Cu, and 5.3% Zn.
Figure 6. Ontenu Central Trench Locations
To view an enhanced version of this graphic, please visit:
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Additional regional rock sampling is underway across areas peripheral to Ontenu Central, where
previous grab samples have returned up to 2.69 g/t Au, 71.3 g/t Ag, 0.26% Cu, and 5.3% Zn. These
broader zones will be further evaluated for future trenching or drill testing.
Continued Exploration at the Anga Project
The Company is also advancing surface exploration at its nearby Anga Project. As announced on
April
30, 2025
, four high-priority areas are being actively sampled, with the Irinke Prospect-located just 1,500
metres from K92 Mining's processing plant and three kilometres along strike from the Arakompa
discovery-emerging as a particularly prospective target potentially representing an extension of K92
Mining's gold system.
About the Osena Project
Covering 738 km² of strategic ground, the
Osena Project
is located southwest of and adjacent to K92's
tenements that host the Kainantu Gold Mine. Priority prospects include Ontenu, a large-scale cluster of
five intrusive Copper-Gold porphyry, vein and skarn complex extending over 5 km x 3 km. Recent results
from Ontenu Central confirm gold-bearing breccias and include a 79 m trench averaging 0.75 g/t Au,
including 4 m at 4.52 g/t Au with a high up to 8.82 g/t Au. Historical rock samples targeted for follow-up
include 73 g/t Au, 960 g/t Ag, 3.17% Cu & 10.6% Zn (in different locations). The Ontenu Prospect is one
of many occurring within a highly mineralized corridor that extends more than 40 km northeast across the
Kainantu District.
More than half of the Osena Project tenure remains unexplored.
About South Pacific Metals Corp.
South Pacific Metals Corp is an emerging gold-copper exploration company operating in the heart of
Papua New Guinea's proven gold and copper production corridors. With an expansive 3,100 km² land
package and four transformative gold-copper projects contiguous with major producers K92 Mining,
PanAust and neighbouring Barrick/Zijin, new leadership and experienced in-country teams are
prioritizing thoughtful and rigorous technical programs focused on boots-on-the-ground exploration to
prioritize discovery across its portfolio projects: Anga, Osena, Kili Teke, and May River.
Immediately flanking K92 Mining's active drilling and gold producing operations to the northeast and
southwest, SPMC's Anga and Osena Projects are located within the high-grade Kainantu Gold District -
each having the potential to host similar-style lode-gold and porphyry copper-gold mineralization as that
present within K92's tenements. Kili Teke is an advanced exploration project situated only 40 km from
the world-class Porgera Gold Mine and hosts an existing Inferred Mineral Resource with multiple
opportunities for expansion and further discovery. The May River Project is located adjacent to the world-
renowned Frieda River copper-gold project, with historical drilling indicating potential for a significant,
untapped-gold mineralized system. SPMC common shares are listed on the TSX Venture Exchange
(TSX.V: SPMC), the OTCQB Marketplace (OTCQB: SPMEF) and Frankfurt Stock Exchange (FSE:
6J00).
Quality Assurance and Quality Control
Rock Sampling
Rock samples are selective and collected by a Company geologist in the field. Samples were sent to the
ITS (PNG) Ltd (Intertek) Laboratory in Port Moresby. Gold assays were conducted using 30 g charge
Fire Assay with Atomic Absorption Spectra finish (Intertek Code FA25/OES), with a detection limit of
0.01ppm. Samples >1 ppm (1 g/t) Au were re-assayed as a check with no significant difference noted.
Multi-element assays were determined using 4-acid digestion with Induced Coupled Optical Emission
(ICPOS) (Intertek code 4A/OE33). Certified reference material, duplicates and blanks were inserted into
the rock sample to monitor laboratory performance, with no significant variations from expected results.
Soil Sampling
Soil sampling involves sieving a c-horizon soil to a <2 mm in the field. Soil samples were sent to the ITS
(PNG) Ltd (Intertek) Laboratory in Port Moresby for assay. Assaying for gold and other elements is
determined by aqua regia digestion with a mass-spectrometry finish (Intertek code AR01/MS). Certified
Reference Material, duplicates and blanks are inserted in the soil sample to monitor laboratory
performance, with no significant variations from expected results.
Qualified Person
The scientific and technical information disclosed in this release has been compiled by Company
geologists and reviewed and approved by Darren Holden, Ph.D., FAusIMM, a "Qualified Person" as
defined under the Canadian Institute of Mining National Instrument 43-101
Standards of Disclosure for
Mineral Projects
. Dr. Holden is a Technical Advisor to the Company.
For further information please contact:
Michael Murphy, Executive Chair
or
Investor Relations
South Pacific Metals Corp.
Tel: +1-604-653-9464
Email:
Neither the 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.
Disclaimer and Forward-Looking Information
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting
the business of SPMC. In making the forward-looking statements, SPMC has applied certain assumptions that are based on information available
to the Company, including SPMC's strategic plan for the near and mid-term. There is no assurance that such information will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements may involve
various risks and uncertainties affecting the business of the Company. These forward-looking statements can generally be identified as such
because of the context of the statements, including such words as "believes," "anticipates," "expects," "plans", "may", "estimates", or words of a
similar nature. Forward-looking statements or information in this news release relate to, among other things: the arrival of the Company-owned
diamond drill in June 2025 and further exploration programs. These forward-looking statements and information reflect the Company's current
views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company,
are inherently subject to significant operational, business, economic, regulatory, or other unforeseen uncertainties and contingencies. These
assumptions include, without limitation: success of the Company's projects, prices for metals remaining as estimated, currency exchange rates
remaining as estimated, availability of funds for the Company's projects, capital, decommissioning and reclamation estimates, prices for energy
inputs, labour, materials, supplies and services (including transportation), no labour-related disruptions, no unplanned delays or interruptions in
scheduled construction and production, all necessary permits, licenses and regulatory approvals are received in a timely manner, and the ability
to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that
forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and
developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news
release and the Company has made assumptions and estimates based on or related to many of these factors. Accordingly, readers should not
place undue reliance on forward-looking information. Such factors include, without limitation: fluctuations in gold prices, fluctuations in prices for
energy inputs, labour, materials, supplies and services (including transportation), fluctuations in currency markets (such as the Canadian dollar
versus the U.S. dollar), operational risks and hazards inherent with the business of mineral exploration, inadequate insurance or inability to obtain
insurance to cover these risks and hazards, the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely
manner, changes in laws, regulations and government practices, including environmental, export and import laws and regulations, legal
restrictions relating to mineral exploration, increased competition in the mining industry for equipment and qualified personnel, the availability of
additional capital, title matters and the additional risks identified in the Company's filings with Canadian securities regulators on SEDAR+
(
www.sedarplus.ca
). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance
on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
Appendix 1
Table 1.
Latest campaign rock chips >0.1g/t Au, from Ontenu NE. Ordered by Cu %, with significant
Kainantu style intermediate epithermal Au-Cu+ Ag-Bi-Mo-Te-Zn highlighted in red. All coordinates in
WGS 84 Zone 55.
Sample ID
East
North
Elevation
Gold (g/t)
Silver (g/t)
Bismuth
(ppm)
Copper (%)
Mo (ppm)
Tellurium
(ppm)
Zinc (%)
E00608
366005
9296329
1815
0.37
56.2
47.8
10.31
4.1
34.9
0.02
E00552
366290
9296324
1901
0.745
60.7
7.21
3.11
156
12.1
3.31
E00551
366287
9296294
1825
0.579
86.4
27.9
2.06
18.4
25.5
0.30
E00549
366298
9296310
1797
1.26
139
24.9
1.47
22
25.4
0.10
E00542
366236
9296435
1768
0.715
46.2
23
0.35
1.6
32.5
0.61
E00548
366298
9296300
1785
1.63
32.7
5.21
0.24
40.7
3.2
0.02
E00583
366343
9296243
1845
0.264
4.71
0.77
0.2
120
1.9
0.01
E00599
365643
9295613
1777
0.185
21.4
0.74
0.19
1
2.5
0.52
E00557
366360
9296245
1826
0.403
1.11
0.19
0.13
11.5
0.1
0.03
E00568
365844
9295441
1783
0.216
17.3
1
0.13
1
0.9
4.74