Great Pacific Gold (GPAC) has discovered a high-grade mineralised zone at its Lauriston gold project in Victoria, Australia.
Reverse circulation drilling uncovered the promising zone at the project’s Comet prospect, which has geology similar to Agnico Eagle’s Fosterville mine deposit to the south.
During the drilling, while collecting reference chip samples, visible gold was observed in the chip trays for the high-grade intervals.
The drillhole intersected 5m at 166.35 grams per tonne (g/t) of gold, including 2m at 413 g/t.
“GPAC was drilling a final hole for 2023 in Australia to test a belief that Rex Motton and the technical team held, being there was serious potential for a high grade hit at Comet if we were to drill near the Comet anticline, which had been identified based on previous GPAC work in the area,” GPAC chief executive officer Bryan Slusarchuk said.
“This final hole planned for 2023 has intersected very high gold grades, in a similar structural setting to what is seen at the Fosterville mine and we will now design a plan as to how best advance this new high grade discovery.”
The discovery marks the second milestone for GPAC of late, with the miner granted an exploration license for its Kesar Creek gold project located on the New Guinea Mobile Belt, between the K92 Mining tenement in the north-west and the Wafi-Golpu project in the south-east.
“Over the past three months, GPAC has been busy preparing for 2024 drilling in PNG,” Slusarchuk said.
“We have been organising road rehabilitation works and drill contracts while assessing and digitising historic data in preparation for exploration.
“We have also recently announced the grant of the Kesar Creek exploration license, which is a 130 square kilometre land package directly to the northwest and contiguous with the K92 Mining tenements.”
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