Great Pacific Gold Corp. (GPAC) has secured over $5 million in funding to support its Kesar and Wild Dog projects in PNG.
The funding was shored up through a private placement which financed 11,222,222 units of the company at a price of $0.45 a piece.
This saw a total $5.05 million raised, with $170,566 and 377,035 non-transferable share purchase warrants to be paid in finder’s fees.
The remaining proceeds will be used for diamond drilling at the Kesar and Wild Dog projects, additional exploration activities in PNG and for general expenses.
Kesar is located in the Eastern Highlands province of PNG and is contiguous with K92 Mining’s mine tenements.
A greenfield exploration project, Kesar boasts several high priority targets in close proximity to the property boundary with K92.
Multiple epithermal veins at Kesar are on strike and have the same orientation of key K92 deposits such as Kora.
Exploration work to date by GPAC at Kesar has shown that these veins have high grades of gold present in outcrop and very elevated gold in soil grades, coincident with aeromagnetic highs.
Wild Dog is located in the East New Britain province of PNG and is a brownfield exploration project with a history of small-scale gold mining.
The project contains numerous epithermal and porphyry hydrothermal-magmatic targets evidenced by previous exploration and operations.
GPAC completed a road refurbishment in August 2024 and access to the project has been established for baseline environmental and exploration work.
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