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Great Pacific Gold to acquire PNG project

Published by , Editorial Assistant
Global Mining Review,

Great Pacific Gold Corp. has announced it has entered into an amalgamation agreement dated 12 April 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.

The Tinga Valley Property is characterised by a drill ready, well-defined high-grade copper-gold porphyry and associated skarn exploration targets. Historical work has indicated the existence of an epithermal overprint, as well as an excellent potential for project size with multiple porphyry bodies along a large alteration halo across a 2.5 km x 1.5 km footprint. The Ok Tedi Copper Gold Mine, which lies 140 km to the north west along the same geological belt, is a good geological comparison to the Tinga Valley Property.

Great Pacific Gold CEO, Bryan Slusarchuk, stated, “The Tinga Valley Property is known to host significant size and grade potential for copper and gold and has been subject of a substantial amount of preliminary exploration work that has resulted in excellent drill targets. This acquisition adds to an already large and commanding land position within a country that hosts some of the world’s most important copper and gold deposits. With a strong treasury, in-country expertise, and an excellent technical team, we are well positioned to advance on multiple projects within PNG.”

Tinga CEO, Martin Pawlitschek, noted, “Through our work, visits to the region and via the compilation of a substantial amount of historic data, we have demonstrated the Tinga Valley Property has the potential to host both large size and high-grade deposits. The targets identified are modelled after Tier 1 geological analogues such as the OK Tedi Copper Gold Mine. Today’s transaction will benefit local communities, Tinga shareholders and all stakeholders as we combine an excellent project with a well-financed entity consisting of team members having a track record of success advancing projects through large-scale exploration in PNG.”

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