GPAC enters deal to acquire PNG copper-gold project

Map: Wikimedia Commons

Great Pacific Gold (GPAC) announces that it is set to acquire the Tinga Valley Property, a copper-gold project in Papua New Guinea, through an amalgamation agreement with Tinga Valley Copper & Gold (Tinga).

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 2.5km x 1.5km footprint. The Ok Tedi Copper Gold Mine, which lies 140kms to the north west along the same geological belt, is a superb geological comparison to the Tinga Valley Property.

Great Pacific Gold CEO Bryan Slusarchuk states, “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.”