Great Pacific Gold Secures $5,050,000 for Exploration in PNG and Australia

Great Pacific Gold Corp. (TSXV: GPAC) has successfully raised $5,050,000 through a non-brokered private placement financing, securing funds to advance its exploration activities in Papua New Guinea (PNG) and Australia. The company's portfolio consists of exploration-stage projects, including Kesar, Arau, Wild Dog, and Lauriston, which hold significant potential for gold-copper resources.

The funds raised will be allocated towards diamond drilling at the Kesar and Wild Dog projects, additional exploration activities in PNG, and general expenses. This strategic allocation of resources aims to unlock the full potential of GPAC's highly prospective land packages and develop gold-copper resources.

Kesar, located in the Eastern Highlands province of PNG, is a greenfield exploration project contiguous with K92 Mining's mine tenements. The project boasts multiple epithermal veins on strike with key K92 deposits, indicating high-grade gold potential. Exploration work at Kesar has shown high gold grades in outcrop and elevated gold in soil grades, coincident with aeromagnetic highs. The Wild Dog project, a brownfield exploration target with a history of small-scale gold mining, contains numerous epithermal and porphyry hydrothermal-magmatic targets, suggesting diverse mineralization opportunities.



To optimize resource discovery and development, GPAC must balance exploration expenses, general expenses, and diamond drilling costs effectively. Diamond drilling costs, estimated at around $300,000 per hole, will be a significant expense. Exploration activities in PNG, including road refurbishment and baseline environmental work, may cost an additional $500,000. General expenses, such as administrative and operational costs, could amount to $1,000,000. By prioritizing high-potential targets for diamond drilling, optimizing exploration activities by leveraging existing infrastructure, and managing general expenses efficiently, GPAC can maximize resource discovery and development while maintaining a balanced approach to spending.



Great Pacific Gold faces potential risks and challenges in its exploration efforts, including geological uncertainties, political instability in PNG, and competition from established mining companies. Geological risks involve the unpredictability of mineral deposits and the potential for low-grade or uneconomical resources. Political instability in PNG could disrupt operations and increase costs, while competition from established miners may limit GPAC's access to resources and markets. These risks could impact GPAC's valuation by affecting its ability to secure financing, attract investors, and generate revenue from its projects.

In conclusion, Great Pacific Gold's successful private placement financing has positioned the company to advance its exploration activities in PNG and Australia. By prioritizing high-potential targets and balancing expenses, GPAC aims to unlock the full potential of its land packages and develop gold-copper resources. Despite potential risks and challenges, the company's strategic approach to exploration offers promising prospects for shareholders.