South Pacific Metals Corp. has reported new gold results from the Megabe target at its Ontenu NE prospect in Papua New Guinea, while outlining progress across its broader gold-copper exploration portfolio in the country.
The company said drill hole ONED26-007, the first hole drilled at the newly identified Megabe target within the Osena Project, intersected 12 metres grading 3.1 grams of gold per tonne from 185 metres downhole, including one metre grading 18.1 g/t gold and 84 g/t silver. The hole also returned silver and copper mineralisation, with copper values reaching 1,462 parts per million within the intercept.
Megabe is located between the Jorkol and Onki prospects at Ontenu NE and is transected by Otitapa Creek, an area known for alluvial gold mining by local artisanal miners. According to the company, the mineralisation is hosted within a north-west to south-east striking fault breccia zone in metasedimentary rocks. South Pacific Metals said the structural corridor shares characteristics with the geological setting of K92 Mining's nearby Kora-Judd gold-copper system.
The Ontenu NE prospect forms part of the Osena Project, situated on the Kainantu Transfer Zone near K92 Mining's producing Kainantu operation. South Pacific Metals currently has two diamond drill rigs operating at the prospect.
Executive Chairman Michael Murphy said the company had entered an important phase of exploration activity, with drilling continuing at Ontenu NE, preparations advancing for a porphyry drill test at Ontenu Central and field activities resuming at May River following the securing of community consent and site access. He said the company was beginning to see the results of years of groundwork reflected in current drilling programmes.
The company said gold mineralisation has now been confirmed in seven of eight drill holes completed at Ontenu NE. Recent drilling at the Onki target returned 92 metres grading 0.34 g/t gold from 67 metres, including a two-metre interval grading 5.74 g/t gold, 1.49% copper and 35 g/t silver. Previous drilling at Jorkol returned mineralised intervals containing gold, copper and silver.
Chief Executive Officer Timo Jauristo said the Megabe result demonstrated the presence of gold mineralisation in another north-west trending structure within the Ontenu area. He said drilling and geochemical results were helping the company target potentially higher-grade sections of the system and expressed optimism about the planned drilling programme at Ontenu Central, which contains both shallow epithermal targets and a potential porphyry target at depth.
At Ontenu Central, detailed geological mapping has identified three north-west trending mineralised zones overlying and extending along the northern margin of a two-kilometre zoned porphyry alteration footprint. The company is planning an initial programme of at least three drill holes and is preparing a deeper hole of approximately 600 metres to test a porphyry target interpreted to begin at a depth of around 400 metres.
Beyond the Ontenu area, South Pacific Metals said surface exploration and drill-target generation are continuing at its Anga Project, which borders K92 Mining's tenure to the north-east. The company is conducting mapping and rock-chip sampling at the Golkona prospect to identify the source of previously reported gold and copper soil anomalies and define future drill targets.
At the May River Project in East Sepik Province, the company's technical team recently completed a reconnaissance visit aimed at securing community consent, locating historical drill collars and confirming site access. South Pacific Metals said all three objectives were achieved, with local communities welcoming the proposed exploration programme.
The company said field teams relocated historical drill sites and trenches at the Skirasia prospect and confirmed access arrangements with local authorities and stakeholders. Planning is now under way for the first phase of renewed exploration activities at the project, which is located adjacent to PanAust's Frieda River deposit and hosts several historical copper-gold drill intersections, including 19 metres grading 11.47% copper and 2.17 g/t gold.
South Pacific Metals also highlighted its wholly owned Kili Teke Project in Hela Province, which hosts a National Instrument 43-101 inferred mineral resource of 4.2 million ounces of gold equivalent, comprising 1.81 million ounces of gold, 802,000 tonnes of copper and 40,000 tonnes of molybdenum.
The company said further results from ongoing drilling and exploration programmes across its Papua New Guinea projects will be released as assays are received and reviewed.
