Great Pacific Gold Corp has been granted an exploration license for the Tinga Valley Property, which is located 140 km along strike of the Ok Tedi Copper-Gold Mine. The property is highly prospective for large and high-grade porphyry style copper-gold mineralization and associated massive sulphide-magnetite skarn mineralization. Several large high priority drill targets have already been identified. Exploration is planned to unlock major Copper, Gold Porphyry potential in 2024.
347 sq km granted exploration license located 140 km along strike of ‘World Class’ Ok Tedi Copper-Gold Mine with very similar geological setting.
VANCOUVER, British Columbia, April 15, 2024 -- Great Pacific Gold Corp. is pleased to announce it has entered into an amalgamation agreement dated April 12, 2024 with privately held Tinga Valley Copper & Gold Corp. to acquire a highly prospective Papua New Guinea copper-gold project called the Tinga Valley Property.
Ok Tedi a high-grade copper-gold mine in operation since early 1984’s and located 140 Km to the NW of Tinga Valley – from the start of operations in 1984 to the end of 2022, Ok Tedi has produced 5.17Mt of copper, 15.9Moz of gold and 36.4Moz of silver. Several of the intrusive units at Tinga, show extensive mineralization and alteration with historic rock chip samples reporting grades of up to 1.97% copper and up to 12.7 g/t gold in areas of phyllic, argillic and potassic alteration. Sulphide mineralization reported includes galena-sphalerite-chalcopyrite and chalcocite. Calcsilicate skarn mineralization consisting of pyrite-chalcopyrite-magnetite have been mapped on the contact zones of the intrusive zones with the limestone.
The Common Shares issued to the Tinga Shareholders will be subject to voluntary restrictions on resale, of which 33.3% of the Common Shares will be subject to restrictions on resale for a period of four months following Closing, 33.3% of the Common Shares will be subject to restrictions on resale for a period of eight months following Closing and 33.4% of the Common Shares will be subject to restrictions on resale for a period of twelve months following Closing.
In PNG, Great Pacific Gold recently acquired a significant 2,166 sq. km mineral exploration land package in PNG. The land package comprises of exploration licenses and exploration license applications . It includes both early-stage and advanced-stage exploration targets with high-grade epithermal vein and porphyry-style mineralization present.
Great Pacific Gold Corp Exploration License Tinga Valley Property Ok Tedi Copper-Gold Mine Porphyry Style Copper-Gold Mineralization Massive Sulphide-Magnetite Skarn Mineralization Drill Targets Exploration
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia-Pacific markets fall as Israel-Iran tensions spike; spotlight on oil, gold and bitcoinAsian investors are keeping a close watch on how markets, especially for oil and gold, will react to Iran’s massive drone strikes on Israel over the…
Read more »
Asia-Pacific markets fall amid Israel-Iran tensions with spotlight on oil, gold and bitcoinAsian investors will assess the impact of Iran’s drone strikes on Israel over the weekend, especially on oil and gold.
Read more »
Gold Miners Trail Far Behind Gold's Record High Rally: Time to Buy?Stocks Analysis by Investing.com (David Wagner) covering: Oracle Corporation, Newmont Goldcorp Corp, Gold Futures, Barrick Gold Corp. Read Investing.com (David Wagner)'s latest article on Investing.com
Read more »
Gold Weekly Forecast: Gold Spike Reveals Overzealous Fed ReactionGold prices have been reigned in after the massive push to another new all-time high. However, recent price action and a stronger dollar suggest more cooling to come
Read more »
Steppe Gold Announces Amended Gold Prepay AgreementSteppe Gold's subsidiary, Steppe Investments Limited, has entered into an amended gold prepay agreement with Triple Flag. The agreement provides additional funds of US$5 million and will be repaid over five months.
Read more »
Gold Trading: Gold Price DriversGold is a precious metal that is popular as an investment and as a safe-haven asset
Read more »