Although the primary focus for GPAC has shifted to its highly prospective properties in Papa New Guinea, the company has not given up on its properties in Australia. In fact, GPAC just made a very significant bonanza-grade gold discovery at the comet Prospect within the Company’s 100% owned Lauriston Gold Project in Victoria, Australia.
Reverse Circulation (RC) hole CRC07 intersected 5m at 166.35 g/t Gold from 95m including 2m at 413 g/t Gold from 96m including 1m at 468 g/t Gold and 1m at 358 g/t Gold. This is the highest grade hole ever reported from the Lauriston Project, which is immediately south of the Agnico Eagle Fosterville Mine tenements.
The Comet Prospect, where the high-grade zone discovery hole was drilled, has epizonal characteristics of Au-As-Sb with geology similar to the Fosterville Mine deposit, which is the highest-grade gold mine in the world.
Gold prices hovering around the $2,000 mark and look to be on the verge of a major breakout. Geopolitical tensions across the globe combined with rising inflation are creating a perfect storm for gold.
In addition, central banks of some of the largest economies in the world, particularly China, have been stockpiling gold. Some analysts are particularly bullish on gold, and have called for a target of $2,500 by the end of next year — that’s more than 26% higher than current levels.
“My target is $2,500 by the end of 2024 … Much of this has to do with the fact that recessionary forces may take hold beginning later this year and gain steam in 2024,” said David Neuhauser, founder of Livermore Partners. “2024 is when I see gold breaking out and reaching new highs and beyond.” Neuhauser said he expects stagflation to persist in the global economy for the next few years as inflation falls to between 3% to 5%.
Papua New Guinea (PNG) is swiftly emerging as a pivotal jurisdiction for gold producers and explorers, attracting substantial attention within the mining industry. The nation’s rich and untapped mineral resources, particularly in gold and copper, coupled with a favourable geopolitical environment, make it an enticing destination for companies seeking lucrative opportunities. Recent strategic moves by prominent gold producers, such as Newmont Mining and Barrick Gold, signify a growing recognition of PNG’s potential as a hotspot for mining activities. With significant measured and indicated resources, promising exploration targets, and a commitment to fostering sustainable partnerships, PNG stands at the forefront of the global gold exploration landscape, offering an attractive and dynamic environment for the mining sector.
Newmont Mining, a prominent American gold producer, has strategically shifted its focus to Papua New Guinea (PNG) through the acquisition of PNG-heavy Newcrest Mining. This significant move has positioned PNG at the forefront of Newmont’s investment strategy, drawing considerable attention from investors and speculators.
K92 Mining Inc., a rapidly expanding Canadian-based gold producer, was in PNG long before Newmont’s recent move but will no doubt benefit from an intensified focus on PNG. Since its IPO, K92 Mining’s shares have experienced a staggering surge of over 1900%, primarily driven by outstanding drill results and production in the country. Although there has been a retracement from peak levels, the shares still boast an impressive approximately 1000% increase from the initial levels. In recent developments, K92 Mining has announced plans to inject around USD $300 million into its project over the next 18 months. This substantial investment includes a significant expansion of production capacity, enhanced underground development, and extensive exploration. The current quarter (Q4 2023) appears poised for substantial growth, with the company highlighting the exceptional performance of its process plant, achieving record-breaking daily throughput in early October.
Amidst Newmont’s substantial financial commitment to PNG and K92 Mining’s pursuit of reaching 500,000 ounces per annum of low-cost production, another noteworthy player has quietly entered the scene—Great Pacific Gold Corp (GPAC). This tiny Canadian company, with intriguing ties to PNG, has stealthily amassed an impressive 2166 sq km land position in-country, including ground adjacent to K92, bordering the prolific miner. Great Pacific Gold’s CEO, Bryan Slusarchuk, a co-founder and former President of K92, brings a wealth of experience to the table. Despite being in the early stages in PNG, GPAC’s management team and leadership already have a successful track record in the region.
With prominent Canadian mining players as investors and approximately CAD $14 million in cash on hand, GPAC is well-positioned for an active presence in PNG’s exploration landscape. Multiple high-grade gold samples have already been extracted from various GPAC projects, supported by a substantial amount of historic drilling and exploration licenses.
Great Pacific Gold stands out with its exceptional land packages in Papua New Guinea (PNG) and Australia, meticulously developed over several years. These projects span the exploration spectrum, from advanced to early stages, boasting a history of historic production and adjacency to key mining players like K92 Mining in PNG and Agnico in Victoria, Australia.
What sets Great Pacific Gold apart is not just its prime locations but also its powerhouse team, comprised of seasoned professionals supported by some of the mining industry's most reputable institutional and individual investors. With a track record of wealth creation and experience in discovery, development, and production in PNG, the team brings valuable expertise to the table.
Great Pacific Gold presents substantial re-rate potential, driven by multiple catalysts in its exploration endeavors. Extensive fieldwork over the past three years has laid the groundwork for drill-centric exploration, focusing on discovery. This approach positions the company to reward shareholders, leveraging its robust financial standing and the ability to explore without an immediate need for capital infusion.
Operating from strategic bases in both PNG and Australia, Great Pacific Gold has cultivated excellent relationships with local communities, contractors, and industry stakeholders. This operational positioning ensures the company's readiness to execute its exploration plans efficiently and underscores its commitment to responsible and sustainable mining practices.
As Papua New Guinea emerges as one of the hottest exploration jurisdictions globally, investors face the choice of exposure at the multi-billion dollar market capitalization level or exploring the potential torque offered by a micro-cap like GPAC, currently trading at a sub $50 million valuation. For those who believe in the allure of gold and copper as attractive metals, PNG stands out as a compelling destination for investment considerations.
Great Pacific Gold Corp (GPAC) is strategically positioned to benefit from the impending breakout in gold prices and the growing interest in Papua New Guinea (PNG) as a mining hotspot. With substantial land holdings in PNG and Australia, a seasoned team, drilling-focused exploration, and strong financial backing, GPAC offers a compelling opportunity for investors seeking exposure to the gold market and the potential of PNG’s mining sector. As PNG gains prominence on the global exploration stage, GPAC’s sub $50 million valuation presents an attractive investment consideration for those looking to capitalize on the allure of gold and copper in this promising region.
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