The PNG Mineral Resources Authority has granted Great Pacific Gold (GPAC) a raft of key exploration licences for the Wild Dog copper-gold project, which has not been explored in over a decade.
With the licence, known as EL 2516, now granted, all of the exploration license applications acquired by GPAC when it purchased Wild Dog Resources have now been converted into exploration licenses.
“There is significant potential along strike, with more than 90 per cent of the projected strike of the main structure untested due to a thin layer of volcanic ash masking the prospective target area,” GPAC chief executive officer Bryan Slusarchuk said.
GPAC director Chris Muller said Wild Dog returned significant gold assays in historical work completed by a previous owner.
“The focus of past drilling at Wild Dog has been on the near surface high grade system, and this has obviously yielded some exceptional results,” he said.
“What attracted me to the project originally, however, is the size potential which quickly became evident during the due diligence process and through both field visits and an examination of a substantial amount of historic data.”
GPAC will now look to developing the Wild Dog project, which has been closed since 2011.
“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,” Slusarchuk said.
“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.”
GPAC announced its acquisition of Tinga Valley Copper and Gold Corp. in mid-April.
The crown jewel of the deal is the highly prospective Tinga Valley Property, which boasts a similar geological setting to the Ok Tedi copper-gold mine, which lies 140kms to the north west along the same geological belt.
The addition of Wild Dog to GPAC’s expanding portfolio is a boon for the company amid record high gold prices.
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