Canada-listed South Pacific Metals Corp., or SPMC, has reported results from its maiden drilling programme at the Ontenu NE prospect in Papua New Guinea, with mineralisation intersected in five of seven holes completed to date.
The drilling programme, comprising seven holes for 2,266 metres within the wider Osena Project area, targeted the Ontenu NE prospect along the Kainantu Transfer Zone — the same regional structural corridor hosting K92 Mining’s producing Kainantu gold-copper mine.
SPMC said drilling identified mineralisation across two zones — Onki and Jorkol — and two distinct mineralisation styles.
At the Onki Zone, hole ONED26-006 intersected 92 metres grading 0.34 grams per tonne gold from 67 metres, including 2 metres grading 5.74 g/t gold, 1.49 percent copper and 35 g/t silver from 119 metres. The company said the interval included a peak re-assay of 9.92 g/t gold and 2.35 percent copper.
At the Jorkol Zone, hole ONED25-001 returned 4.5 metres grading 0.77 g/t gold, 0.14 percent copper and 19 g/t silver from 203.5 metres, including a 0.5 metre sample grading 3.16 g/t gold, 0.62 percent copper and 96 g/t silver with 602 parts per million bismuth.
The company said geological logging and geochemical data indicated the drilling had intersected an intermediate- to high-sulfidation epithermal system, with alteration and mineralisation signatures suggesting the productive parts of the system may remain untested at depth or along strike.
Chief executive Timo Jauristo said the programme had achieved several milestones for the company.
“We targeted and have been drilling Ontenu NE to confirm our concept that we have signatures of Kora-Judd style mineralisation on our ground — and the answer is yes,” Jauristo said.
“We have intersected mineralisation in 5 of 7 holes; hit two high-grade Au-Cu intercepts within wider lower-grade halos; are developing a better understanding of the geology, structure and mineralisation in the area; and are compiling a geological model that will help guide future drilling towards more productive parts of the veins.”
SPMC said drilling would continue at Ontenu NE, targeting newly identified north-west trending structures at Onki, deeper levels beneath the interpreted silica cap and strike extensions at Jorkol.
The company also said drilling at Ontenu Central was expected to commence shortly following detailed mapping work. SPMC said Ontenu Central hosts a two-kilometre zoned alteration footprint with a porphyry-style signature and a relatively shallow porphyry target interpreted beneath surface gold-copper anomalies.
Separately, the company announced the appointment of Octavio Garcia as exploration manager. Garcia has more than 30 years of international mineral exploration experience, including previous roles with Mt Isa Mines, Barrick and Xstrata, and prior exploration work in Papua New Guinea.
