Geopacific Resources Ltd has reported further strong gold results from its ongoing drilling campaign at the Woodlark Gold Project in Papua New Guinea, highlighting continued potential to expand its current 1.67 million-ounce resource.
The latest results confirm multiple high-grade zones at the Great Northern and Kulumadau deposits, as well as a promising new discovery at the Kamwak exploration prospect.
At the Great Northern deposit, several drill holes returned significant gold intercepts, including 5 metres at 2.16 grams per tonne from 185 metres, 6 metres at 2.43 g/t from 208 metres, and 9 metres at 3.88 g/t from 145 metres. Mineralisation in the area remains open at depth, with further assays expected in the coming weeks.
Drilling at the Kulumadau deposit also yielded encouraging results. A deep geotechnical hole intersected 20 metres at 2.09 g/t gold from 281 metres, below the current pit design, suggesting potential for additional resource growth. High-grade intercepts of 1 metre at 13.3 g/t and 1 metre at 13.6 g/t gold were also recorded. The main lode at Kulumadau remains open to the south, and four more drill holes are planned to test extensions of the resource.
Meanwhile, at the Kamwak prospect, a new high-grade interval of 2 metres at 8.67 g/t gold was recorded from 86 metres. Kamwak lies adjacent to the 711,000-ounce Kulumadau deposit and is considered a potential new discovery. Diamond drilling is underway to build a geological model to support follow-up drilling.
Geopacific CEO James Fox said: “These results continue to reinforce the significant exploration and growth potential that remains at Woodlark. Our drill campaign is systematically testing extensions to the existing resource areas while advancing multiple new targets. With consistent results across several deposits and more assays due shortly, we are confident of delivering further resource growth beyond the current 1.67 million-ounce base.”
The current drilling program at Woodlark is divided into three main areas: resource development, exploration targets, and potential new mineral resources. To date, 37 reverse circulation and diamond holes covering nearly 4,865 metres have been completed, with additional drilling planned over the next 2–3 months at Little MacKenzie and Wayai Creek.
Exploration at these areas follows promising surface sampling, trenching, and previous drilling, aiming to confirm near-surface mineralisation and expand the existing resource base. The campaign is expected to provide detailed geological data to inform updated resource models and support further growth of the Woodlark Gold Project.
St Barbara Ltd is pressing ahead with its Simberi Expansion Project in Papua New Guinea, reporting progress across exploration, early works, and mine development, even as some operational challenges remain.
The company’s Simberi operations on Simberi Island produced 11,158 ounces of gold in the first quarter of FY26 at an all-in sustaining cost of A$4,487 per ounce. Production fell slightly below forecast, largely due to maintenance issues and limited availability of the contractor mine fleet.
St Barbara Managing Director and CEO Andrew Strelein said the truck fleet situation was improving. “By early October, the Volvo A60 truck fleet had increased to ten units from four, and the contract truck fleet availability finally improved. Total mining movement is on track to meet October budget and forecasts,” he said.
Expansion Project on Track
The Feasibility Study for the Simberi Expansion Project, which aims to mine multiple open pits containing 2.6 million ounces of oxide and sulphide ore over a 13-year life, is scheduled for completion in the second quarter of FY26. The Pre-Feasibility Study for the 15 Mile Processing Hub is expected in the third quarter.
However, a Final Investment Decision (FID) is now anticipated in Q3 FY26, delayed due to outstanding matters relating to amended tax assessments. While funding proposals are pending, early works continue, including:
Expansion of the mine camp, with 140 new beds completed and another 60 underway.
Procurement of a new 5.8MW ball mill, expected to ship in January 2026.
Geotechnical drilling and test pitting for a new haul road to replace the existing aerial rope conveyor.
Installation of a reverse osmosis water treatment plant to improve plant efficiency and reliability.
Other infrastructure upgrades include a planned wharf to accommodate larger ships, with contract execution expected in Q3 FY26. Power station expansion from 7MW to 19MW is also required before the new grinding circuit can be commissioned, which is scheduled for Q3 FY27.
Mine Lease Extension Secured
The Papua New Guinea Mining Advisory Committee recommended extending the Simberi Mining Lease 136 until 2038. The recommendation was forwarded to the Mining Minister for review in September 2025.
Exploration and Resource Drilling
Exploration activities at Simberi and surrounding islands continue, with both resource definition and sterilisation drilling advancing. The FY25 program completed 61 holes totalling more than 10,400 metres, while follow-up drilling in Q1 FY26 included 12 additional holes.
Recent drilling highlights include:
Pigibo North: SDH607 – 35 metres at 1.2 g/t gold from 1 metre.
Pigiput-Sorowar Northeast Trend: SDH669 – 31 metres at 3.1 g/t gold from 2 metres, including 13 metres at 5.8 g/t from 15 metres.
Darum waste rock dump: SDH685 – 9 metres at 10.8 g/t gold from 55 metres, including 6 metres at 15.7 g/t from 57 metres.
Surface sampling and trenching on Tatau Island also revealed promising gold anomalies. The Mt Siro area returned high-grade results, including 26 metres at 1.0 g/t and 16 metres at 2.0 g/t gold in trenching, and 9 metres at 2.9 g/t in drilling, including 2 metres at 11.4 g/t gold. Further drilling and soil sampling are planned for FY26.
Next Steps
St Barbara plans to complete the Feasibility Study, continue early works and pre-expansion projects, and ensure compliance with environmental permits, including waste rock dump designs, water management plans, and mine closure plans.
If completed on schedule, the new ball mill will enable higher processing rates by Q3 FY27, with sulphide ore processing expected to begin in H2 FY28. The flotation circuit and first gold concentrate production are anticipated at the start of FY29.
The company is moving steadily toward expanding production and securing the long-term future of its Simberi operations, while maintaining a focus on environmental compliance and sustainable development.
Great Pacific Gold Corp. has reported strong results from drilling at its Wild Dog Project on New Britain Island in Papua New Guinea. The project is focused on the Sinivit area, part of a 15-kilometre-long gold and copper corridor.
Drill hole WDG-12 found two promising zones:
“These results show that the Sinivit target continues to deliver high-grade gold and copper,” said Greg McCunn, CEO of Great Pacific Gold. “Holes WDG-08, 12 and 13 define a strong high-grade area within the Sinivit structure, with WDG-14 currently in progress.”
More Drilling Coming
A second drill rig has been shipped to the site, and new camp facilities are being built for the expanded crew. Drilling with the second rig is expected to start in December 2025.
“The second drill rig will allow us to test deeper areas at Sinivit and explore other promising targets identified in recent surveys,” McCunn added.
About the Drilling
The drilling found gold and copper in veins and breccia, rocks that have been broken and cemented by mineral-rich fluids over time. The upper zone has strong quartz and sulphide veins, while the lower zone may represent a deeper, hotter area where metals collected. These features suggest the area has had multiple episodes of mineral-rich fluid flow, producing high-grade gold and copper.
LiDAR Survey Helps Planning
A recent high-precision LiDAR survey mapped the Wild Dog district in detail, helping the team plan where to drill next and design infrastructure. The data is being analysed to locate faults, veins, and other features that may contain more gold and copper.
Project Overview
Wild Dog is Great Pacific Gold’s main project, with a 15-kilometre gold and copper corridor that could extend over 1,000 metres deep. Previous drilling has already found high-grade gold, including 8.4 metres at 50 g/t AuEq at hole WDG-08.
The company also has projects at Kesar, Arau, and Tinga Valley in Papua New Guinea. Some of these are next to K92 Mining’s properties and show similar potential for gold and copper.
The Phase 1 drilling program will continue into early 2026. The arrival of the second drill rig will allow the company to explore deeper and faster, aiming to find more high-grade gold and copper in the Wild Dog area.
K92 Mining Inc. has reported strong financial and operational results for the third quarter of 2025, with record cash balances, revenue, operating income, and production.
John Lewins, K92 Chief Executive Officer, said that the third quarter was highly successful, marked by the successful construction of the new 1.2 million tonnes-per-annum Stage 3 Process Plant under budget, multiple financial records, strong operational results and the advancement of several projects to set the Company up for success in the near and long-term.
“We are pleased to report that after quarter-end, the positive operational momentum has continued, with numerous milestones achieved,” Lewins said.
The executive said that commissioning of the plant is progressing well, first production of commercial grade concentrate from the new Stage 3 Process Plant occurred in October and practical completion of commissioning is expected shortly.
Underground mining rates have also taken a notable step forward as key-enabler projects have come online, he added.
Production Performance
K92 achieved a robust quarterly production of 44,323 ounces gold equivalent (AuEq), including 42,244 ounces of gold, 1,323,538 pounds of copper, and 34,831 ounces of silver. The company remains on track to meet its 2025 production guidance of 160,000–185,000 ounces AuEq, with over 80% of the lower-end target already achieved in the first three quarters.
The company also reported a commissioning stockpile of 4,893 ounces AuEq, in line with Stage 3 Expansion requirements. Cash costs stood at US$694 per ounce of gold, with all-in sustaining costs of US$1,254 per ounce. Metallurgical recoveries were strong at 95.0% for gold and 94.6% for copper.
The process plant has exceeded updated feasibility study recovery targets for six consecutive quarters. Quarterly ore processed reached 137,172 tonnes, with 152,485 tonnes mined. The ore had a head grade of 11.2 g/t AuEq, comprising 10.7 g/t gold, 0.47% copper, and 10.3 g/t silver.
Financial Highlights
K92 recorded a net cash position of US$131.2 million, with total cash and cash equivalents of US$185.4 million. Quarterly revenue rose 45% from Q3 2024 to US$177.5 million, while net income increased 84% to US$85.7 million, or US$0.35 per share.
Operating cash flow (before working capital adjustments) reached US$101.8 million, and EBITDA hit a record US$130.2 million. Sales during the quarter included 45,006 ounces of gold, 1,480,151 pounds of copper, and 43,271 ounces of silver. Gold concentrate and doré inventory stood at 7,913 ounces, down 500 ounces from the previous quarter.
Stage 3 Expansion
Construction of the new 1.2 million tonnes-per-annum Stage 3 Process Plant was completed under budget, a milestone highlighted by the official inauguration on October 16, attended by Prime Minister James Marape, Minister for Mining Rainbo Paita, other ministers, provincial leaders, landowner representatives, and the diplomatic and business community.
“As at September 30, 2025, 90% of Stage 3 Expansion growth capital has either been spent or committed; remains on budget,” the company said. Crushing, grinding, and flotation circuits have been commissioned with ore since September 2025, with first commercial-grade gold-copper-silver concentrate produced in mid-October. Full commissioning of the plant is expected to complete in November 2025.
Major construction for supporting infrastructure, including the pastefill plant, surface tailings filtration, and surface storage facilities, is underway and progressing on schedule. Key underground development projects, such as the Material Pass, Phase 2 Ventilation Upgrade, and Surface Tele-Remote Loader System, have been completed. Additional projects, including further ventilation upgrades and a second Material Pass, are scheduled for completion in early to mid-2026.
Exploration Updates
K92 reported results from its fifth set of drill holes at the Arakompa project, bringing the total to 67 holes for the year. The drilling confirmed significant porphyry-style mineralisation, extending the bulk tonnage zone over 1,100 metres of strike length to a vertical depth of 800 metres.
Notable drill results include:
Exploration at the Wera prospect revealed a large 3.5 km by 3.5 km mineralised system with high-grade rock chip samples, including up to 26.30 g/t Au. Drilling at Wera is now underway, while Arakompa will deliver a maiden mineral resource estimate in mid-2026.
“Financially, the Company is in the strongest position in our history, with a record $185 million in cash and cash equivalents, including a record net cash position of $131 million, while also continuing to invest heavily in the Stage 3 and 4 Expansions,” he said.
On exploration, Lewins said that consistent progress continues to be made at both near-mine and regional targets. With up to five rigs turning at Arakompa, one rig at Wera, and six rigs focused on expansion at Kora and Judd, K92 is well-positioned to close out another successful year of exploration.
In 2026, Lewins said that K92 plans to expand its exploration programs further, with two new surface diamond drill rigs expected to arrive in early Q1 2026. “We look forward to providing further updates in due course,” he said.
Ok Tedi Mining Limited (Ok Tedi) is pleased to announce that the Government of Papua New Guinea has officially granted a two-year extension to Exploration Licence EL 1747 for the Misima Deposit in Milne Bay Province, held by its wholly owned subsidiary, Misima Minerals Limited.
The approval and granting of the licence extension marks a critical milestone for the Misima project and for Ok Tedi, following the company’s acquisition of the project earlier this year.
The granting of EL 1747 resolves the final regulatory requirement and allows Ok Tedi to proceed with planned exploration, development, and community engagement activities at the Misima Deposit.
As a PNG-based and PNG-owned company, Ok Tedi’s acquisition and development of the Misima Deposit is particularly significant. It demonstrates the ability of local companies to lead resource development, generate economic opportunities for Papua New Guinea, create employment for local communities, and contribute to sustainable national development.
Ok Tedi Mining Limited Managing Director and Chief Executive Officer Kedi Ilimbit said that the granting of the licence represents a significant step forward in unlocking the resource potential of the project, advancing economic opportunities, and supporting sustainable mining in the country.
"We are delighted to have received the licence extension from the government, enabling us to move forward with our plans for Misima. This achievement reflects OTML’s ongoing commitment to responsible resource development and sustainable engagement with local communities,” Ilimbit said.
Ilimbit added that Ok Tedi remains committed to working closely with stakeholders, including government authorities, landowners, and communities, to ensure that exploration and development activities are conducted safely, sustainably, and in line with national and international best practice.
Ok Tedi Mining Limited (OTML) is a majority state-owned entity that operates an open-pit copper, gold, and silver mine located in the Star Mountains of Western Province, Papua New Guinea. The company ships copper concentrate to smelters and ore refineries in Japan, the Philippines, Indonesia, South Korea, India, and Germany.
Operating in the region for over 40 years, OTML has made a significant contribution to development in Western Province through direct and indirect employment, royalties, compensation payments, and business opportunities. Ok Tedi is now expanding its operations to Milne Bay Province through the acquisition of Gallipoli Exploration Limited, a wholly owned subsidiary of Australian mining company Kingston Resources Limited, for the Misima Mine.
Great Pacific Gold Corp. (GPAC) has announced plans to file an updated technical report for its Kesar Gold Project in Papua New Guinea, outlining the results of its first exploration phase and setting the stage for a follow-up drilling campaign next year.
The report, prepared under National Instrument 43-101 (NI 43-101) standards, summarises the findings of the Phase 1 program completed in May 2025 and provides recommendations for the 2026 field season.
Located in the Eastern Highlands Province, the Kesar Project sits immediately west of K92 Mining’s Kainantu Mine, a globally recognised high-grade gold-copper operation. The 130-square-kilometre licence area is considered highly prospective, with geological similarities to the nearby Kora and Judd deposits.
The company said multiple high-grade gold intercepts were recorded during the 3,700-metre diamond drilling program across 13 holes. Highlights include:
In addition to the drilling results, the company conducted an airborne MobileMT geophysics survey, which identified several high-potential targets for both porphyry-style mineralisation and intermediate-sulfidation epithermal deposits.
A Phase 2 exploration program has been recommended for 2026, including surface mapping, trenching, and a 3,000-metre follow-up diamond drilling campaign to further test the mineralised zones.
“While Wild Dog remains our top priority target, Kesar has tremendous potential and is strategically located alongside K92 Mining’s Kainantu Mine,” said Greg McCunn, CEO of Great Pacific Gold.
“We are expecting the bulk of our exploration expenditures in the coming year to be spent at Wild Dog, but we are planning a focused follow-up program at Kesar with the objective of unlocking value that we believe is currently not recognized in our share price,” McCunn added.
The executive said that the company has invested over 16.7 million PNG Kina (C$5.8 million) in Kesar over the initial two-year licence period, making Great Pacific Gold one of the most active exploration firms in the country.
“We look forward to working with the Mineral Resource Authority in PNG and our local stakeholder and landowner groups to renew the exploration licence for a further two years to allow the Company to continue to invest in the region and make Kesar a long-term success,” he said.
The updated technical report, being finalised by H&S Consultants Pty Ltd in Sydney, Australia, will provide a comprehensive summary of the project’s geological characteristics and exploration potential. It is expected to be filed on SEDAR+ with an effective date of September 9, 2025.
The Kesar project area lies within the New Guinea Thrust Belt, a geologically complex region known for hosting significant gold and copper deposits. Mineralisation occurs in quartz-sulphide veins and breccia zones within tonalite and meta-sedimentary rocks — features consistent with the high-grade systems that have made the Kainantu district one of Papua New Guinea’s most productive mining corridors.
With its Phase 2 campaign planned for 2026, Great Pacific Gold aims to continue advancing the Kesar Project while deepening its exploration footprint across Papua New Guinea.
South Pacific Metals Corp. (SPMC) has launched its maiden drilling program at the Ontenu Northeast prospect in Papua New Guinea, marking a significant step forward in the company’s exploration activities within the mineral-rich Kainantu region.
Located within the Osena project area, Ontenu Northeast lies along the Kainantu Transfer Zone, a northeast-southwest corridor that also hosts the Kainantu Gold-Copper Mine, currently operated by K92 Mining Ltd. This area is known for its promising gold-copper deposits and remains a focal point for ongoing mineral exploration in the country.
The company said the drilling will test whether the northwest-trending mineralised structures identified earlier this year are surface indicators of deeper epithermal gold-copper (Au-Cu) veins, similar to those currently mined at K92’s Kora and Judd deposits.
Surface sampling has already returned encouraging results, with assays of up to 3.95 grams per tonne (g/t) gold, 645 g/t silver, and 1.56 percent copper across a six-metre-wide outcrop. Five other mineralised structures in the area, with rock chip samples recording as high as 13.9 g/t gold and 388 g/t silver, will also be part of the program’s targets.
SPMC plans to complete four to six drill holes, totalling around 1,500 metres, before the end of the 2025 field season.
Chief Executive Officer Timo Jauristo described the launch as an important step in the company’s growth.
“The drill program marks a major milestone for South Pacific. Ontenu Northeast has not been drilled before,” Jauristo said. “The whole team is excited to start drilling these holes, aimed at testing the deeper parts of these mineralised structures for high-grade epithermal Au-Cu veins. The first drill hole is planned to intersect several of these structures at depths between 100m to 250m. The remainder of the program will further test this structure as well as some of the other mineralised structures.”
The drilling results from Ontenu Northeast are expected to provide vital geological insights into the potential of the Osena project and could set the stage for a new phase of gold and copper exploration in Papua New Guinea.
SPMC, which is listed on the TSX Venture Exchange (TSX-V: SPMC), OTCQB (SPMEF), and Frankfurt Stock Exchange (6J00), continues to strengthen its exploration portfolio across the Pacific region as part of its broader strategy to identify and develop high-potential mineral assets.
Loyalty, commitment, and dedication are the traits that have kept Malakati Anguai working with Ok Tedi Mining Limited (Ok Tedi) for the past 40 years.
Mr. Anguai, the Superintendent for Processing Support, is one of three employees who have served Ok Tedi for four decades. They are among the 386 employees who were honoured with long service awards, recognising service ranging from 5 to 40 years.
The 15- to 40-year awardees were recognised at a special dinner event last month, while the 5- to 10-year awardees were acknowledged through various presentation ceremonies held within their respective departments.
Ok Tedi Managing Director and Chief Executive Officer Kedi Ilimbit expressed gratitude to all 386 employees for their significant contributions and steadfast commitment over the years.
Every year, Ok Tedi hosts a special event to recognise employees who have achieved long service milestones.
“We recognise, we celebrate, and we truly appreciate our long serving employees. Your loyalty, commitment and dedication are commendable. You are all an inspiration to all of us." he said. “Your significant period of employment is a testament to your commitment, passion, dedication, [and] loyalty in service to our organisation and to all our stakeholders.”
Ok Tedi takes pride in its efforts to nurture and develop Papua New Guineans — 98 percent of the company’s workforce are nationals. The company fosters a culture that aligns with its core values and supports the ‘One Team, Wan Pasin’ approach, which emphasises collective effort and teamwork to achieve shared goals.
Of the 386 employees recognised: 19 received awards for 20 years of service, 21 for 25 years, eight for 30 years, five for 35 years, and three for 40 years.
Alongside Mr. Anguai, Mr. Ilbin Mike and Mr. Jeffery Dihin also received their 40-year service awards. Mr. Dihin is a Processing Plant Trainer, while Mr. Mike serves as a Dozer/Grader Operator with the Mine Operations team.
Mr. Anguai expressed his gratitude to Ok Tedi for being the employer of choice for him and his family over the past four decades.
Ok Tedi recognises that its greatest assets are its people. The company remains committed to recruiting and retaining talented employees, while supporting their professional and personal growth so that they can positively impact their families and communities through various spin-off socio-economic ventures.
“At Ok Tedi, we not only mine metals but we also mine the workforce of Papua New Guinea, ensuring our people improve professionally and perform to their maximum best, either at Ok Tedi or in other companies and industries when they do depart Ok Tedi,” said Mr. Ilimbit.
Papua New Guinea’s Minister for Mining Rainbo Paita has commended the Pacific Lime and Cement Limited (PLC) joint venture initiative, describing it as a model that challenges existing industry norms and sets a higher standard for future resource projects in the country.
“This challenges the status quo of all projects,” said Minister Paita. “Companies now must match this or do even better.”
He made the remarks during the Joint Venture Spin-Off Inauguration and Equipment Handover ceremony held on 14 October at the Central Cement and Lime Project site in Kido, Central Province. The event marked the official launch of a groundbreaking partnership between Synergy Alliance Limited (SAL), Kido Holdings Limited (KHL), and Rearea Minerals Limited (RML).
The initiative represents a significant shift, transforming local landowners from project stakeholders into active equity partners in PNG’s emerging lime and cement industry.
Distinguished guests at the event included Hon. Keith Iduhu, MP, Member for Hiri-Koiari; Central Province Deputy Administrator Augustine Tipale; Ambassador to PNG Isaac Lupari; and Australian Deputy High Commissioner to Papua New Guinea Adrian Lochrin. Representatives from the Kido and Rearea landowner communities, PLC, and SAL also attended.
PLC Managing Director Paul Mulder said the joint venture is focused on delivering tangible benefits to landowners and creating a foundation for long-term prosperity.
“This joint venture delivers more than promises; it provides tangible benefits and real ownership for the people of Kido and Rearea,” said Mr. Mulder. “We are building a sustainable future, together.”
The partnership introduces an innovative model of landowner participation through: • Free-carried equity – granting landowners immediate equity partnership without initial capital investment; • Capacity building – training, skills development, and mentorship led by SAL; and • Community-driven growth – establishing a clear path toward 90% landowner ownership of service businesses and asset-heavy equipment contracts.
The PLC partnership demonstrates how commercial success can align with community empowerment and local ownership, reinforcing the company’s commitment to responsible resource development and inclusive economic growth.
Hon. Keith Iduhu, MP, also commended the initiative, acknowledging the strong collaboration between the company and landowners.
“I commend the leadership of the landowners who have been working closely with PLC to see the initiative that we witnessed at the launch become a reality,” said Hon. Iduhu.
Australian-listed explorer Augustus Minerals Ltd. (ASX: AUG) is positioning itself for a potential foothold in one of Papua New Guinea’s most storied mineral prospects, after executing a binding share-purchase agreement to acquire ACM Contract Mining PNG Ltd (ACMPNG), holder of a third-in-line exploration-licence application for the Mt Kare Gold Project in Enga Province.
Under the agreement, Augustus will purchase ACMPNG for A$ 250,000 (US$ 163,000), funded from existing working capital. The PNG company’s application covers a site long considered among the most prospective gold-and-silver deposits in the Pacific, hosting a historical mineral resource of 43 million tonnes at 1.5 grams per tonne (g/t) gold for an estimated 2.1 million ounces of gold and 18 million ounces of silver.
Executive Chairman Brian Rodan described the acquisition as a “strategic and risk-weighted opportunity” that could unlock one of the region’s premier gold development assets. “Mt Kare’s proximity to the world-class Porgera Mine and its robust geological similarities make this a compelling long-term play for Augustus,” Rodan said.
The project lies roughly 15 kilometres southwest of Barrick (Niugini) Ltd’s Porgera Gold Mine, which has historically produced more than 500,000 ounces of gold annually.
Contested application process
While the licence application remains subject to approval by Papua New Guinea’s Mineral Resources Authority (MRA), Augustus is optimistic about its prospects. ACMPNG’s submission, lodged on 22 February 2016, follows earlier applications by Global Mining Group Ltd and Tribune Mt Kare Gold Ltd.
Under the Mining Act 1992, applications are reviewed in order of lodgement but are not automatically granted to the first-in-time applicant. Each application proceeds through landowner hearings, MAC (Mining Advisory Council) review, and a final ministerial recommendation, a process Augustus anticipates could take up to six months or longer.
In June 2025, the company confirmed that the first-in-line applicant, Global Mining Group, was removed from the register, making ACMPNG now the second-in-line applicant for the Mt Kare exploration licence (ELA 2446) [Augustus Minerals ASX Update, 25 June 2025].
Augustus also disclosed plans to object to prior applications or explore joint-venture negotiations with Tribune.
Legacy and potential
Discovered in 1987 by Conzinc Riotinto of Australia, the Mt Kare Project has undergone more than A$ 75 million (US$ 48.8 million) in historical exploration expenditure. The site’s data — based on 454 diamond drill holes totalling 73,639 metres — indicates a geological system comparable to Porgera, with the same host rocks, structural controls and mineralisation style.
Between 2011 and 2014, Indochine Mining Ltd undertook confirmatory drilling, metallurgical testwork, and a pre-feasibility study reported under JORC (2004). Augustus has stated that these historical findings have not been independently verified and will be reviewed under JORC (2012) once tenure is secured.
Low-cost entry, high-upside play
Augustus views the acquisition as a low-cost, high-leverage entry into a Tier-1 exploration corridor. The company believes ACMPNG and its affiliates have already spent more than A$ 2 million (US$ 1.3 million) pursuing the licence process since 2016.
“The balance between acquisition cost and exploration upside makes this a unique opportunity,” said Rodan, adding that the purchase provides a corporate vehicle to expand into other PNG mineral corridors.
If successful in obtaining tenure, Augustus plans to re-validate Mt Kare’s resource under JORC (2012), restart drilling within 90 days, and commence feasibility studies within 15 months.
In September 2025, the company also completed a A$ 1.675 million (US$ 1.09 million) capital raising to fund exploration at its Western Australian assets and support its Mt Kare strategy (Discovery Alert, Sept. 2025).
Background
Augustus Minerals currently holds 100 percent interests in two Western Australian projects — the Ti-Tree Project in the Gascoyne region and the Music Well Project north of Leonora — both prospective for gold, copper, lithium and rare earths.
With Mt Kare now on its radar, Augustus seeks to extend its exploration footprint beyond Australia, pursuing opportunities in one of the Pacific’s richest and most competitive gold belts.
Adyton Resources Corporation (TSX Venture: ADY) has confirmed the large scale of its Feni Gold-Copper Project in Papua New Guinea, following final assays from drill hole FDD005. The results also point to new high-priority targets that could further expand the project’s mineral potential.
Drill hole FDD005 returned 158 metres at 0.72 grams per tonne gold equivalent (0.54g/t gold and 0.14 per cent copper), including 32 metres at 1.09g/t gold equivalent (0.99g/t gold and 0.11 per cent copper). It also ended with 383 parts per million molybdenum, indicating a possible connection to a deeper-seated intrusive system.
The company said the hole is the fifth consecutive one with assays greater than 100 gram-metres gold equivalent, confirming broad and continuous mineralisation between two existing resource areas at the Kabang prospect.
Chief Executive Officer Tim Crossley said the drilling of FDD005 was aimed at unlocking the untapped area between known deposits.
“The drilling of hole FDD005 was a bold move in the middle of the ‘gap’ area in our block model. It is the deepest hole ever drilled at Feni with a gold bearing vertical footprint of greater than 700 metres,” Crossley said. “Our next focus is to integrate the new data from our current drill program into our historical data set and recent close-spaced drone magnetic survey to vector in on and identify the higher-grade zones within this extensive mineral system.”
Chief Operating Officer and Chief Geologist Dr Chris Bowden said that despite lower grades compared with previous drill holes, the latest results demonstrate the extensive scale of the mineral system.
“While the highlight intersection in FDD005 was lower-grade than previous drillholes, it still reported over 100 gram-metres and the two very broad zones of gold-copper mineralisation — 382 metres at 0.43g/t AuEq (from 69 metres) and 332 metres at 0.13g/t AuEq (from 508 metres to end of hole) — clearly indicate the footprint and scale of the system at Feni is extensive,” Dr Bowden said.
He added that ongoing analysis is strengthening their understanding of the area’s geological structure.
“We have re-interrogated the assay results with the outcomes from geophysics data (including high-resolution drone survey). We now have higher confidence that FDD005 likely sits in a structural offset, explaining the significantly wide and highly anomalous grades,” he said. “Furthermore, the re-review of the geophysics and assay results has resulted in a revised understanding of the potential structural controls to mineralisation (more akin to the structural setting at Lihir).”
Adyton said it is continuing to refine its geological model with the new data, which has already highlighted additional targets now considered more prospective. The company is prioritising these in its current phase of drilling in the fourth quarter of 2025.
The Feni Island Gold-Copper Project lies within the 250-kilometre-long Tabar-Lihir-Tanga-Feni Island chain in Papua New Guinea’s Bismarck Archipelago, which also hosts the Simberi and Lihir gold mines. The project currently has a foundational resource of 1.45 million ounces of gold, with exploration aimed at defining higher-grade zones within the larger mineral system.
South Pacific Metals Corp. has announced the discovery of new gold-copper mineralized zones at Golkona South, part of its Anga Project in Papua New Guinea.
The Anga Project lies immediately northeast of, and contiguous with, K92 Mining’s tenements in the Kainantu District — a region widely recognised as one of PNG’s most prospective gold-copper belts.
Highlights – Golkona South
Next steps
SPMC Chief Executive Officer Timo Jauristo said the latest findings reinforce the potential of the Anga tenements. “We are very pleased with these latest soil geochemical results at Golkona South.
“The potential of Golkona South and the Anga tenements is highlighted by these results and their location along the northeasterly trend from K92’s large and growing Arakompa project. We look forward to continuing to advance this project, although our immediate priority is the imminent start of drilling to test the exciting epithermal vein targets at Ontenu NE," Jauristo said.
South Pacific Metals Corp. is an emerging gold-copper exploration company operating within Papua New Guinea’s proven mineral belts. With an expansive 3,100 km² land package and four key projects — Anga, Osena, Kili Teke, and May River — the Company is advancing systematic exploration across assets located alongside major producers K92 Mining, PanAust, and Barrick/Zijin.
The Anga and Osena Projects, which flank K92’s high-grade Kainantu operations, show potential for lode-gold and porphyry copper-gold mineralization similar to that of K92’s deposits. Kili Teke, 40 km from the Porgera Gold Mine, hosts an Inferred Mineral Resource with room for expansion, while May River sits adjacent to the world-class Frieda River copper-gold project, with historical drilling suggesting significant untapped potential.
K92 Mining Inc. has announced the first production of commercial-grade gold-copper-silver concentrate from its new 1.2 million tonnes per annum (tpa) Stage 3 Expansion Process Plant at the Kainantu Gold Mine in Papua New Guinea, marking a major operational milestone for the Company.
During the Official Inauguration Ceremony held on site on 16 October, the Prime Minister of Papua New Guinea James Marape witnessed a gold pour at the new plant, which produced 458 ounces of doré.
Also in attendance were Minister for Mining Rainbo Paita, other distinguished members of Parliament, officials from the Eastern Highlands Provincial Government, heads of government departments and agencies, landowner association leaders including Bilimoia Landowner Association Chairman Busa Sio and Associated Landowners Association Chairman Noka Tinko, as well as representatives from the diplomatic corps, the business community, and project partners.
The new Stage 3 Expansion Process Plant — delivered under budget — represents the largest capital investment under K92’s Stage 3 Expansion program, with 90% of total costs spent or committed as of September 30, 2025. Commissioning remains on track for completion in the first half of Q4.
K92 Chief Executive Officer and Director John Lewins said the achievement marks a pivotal moment for the Company and its stakeholders.
“I am very pleased to announce that the Stage 3 Expansion Process Plant has achieved its inaugural production, a major milestone for our Company, our stakeholders, and the country of Papua New Guinea,” Lewins said.
“This achievement is the result of the tireless efforts and collaboration of our workforce, contractors, and partners. I commend our team for successfully bringing this major project online safely, efficiently, and under budget," he added.
Lewins noted that the presence of the Prime Minister, Minister for Mining, and other key officials underscores the strong partnership between K92 and the PNG Government.
“We were deeply honoured to have the Prime Minister of Papua New Guinea, the Hon. James Marape, along with the Minister for Mining, Hon. Rainbo Paita, and other senior government and community representatives attend the Official Inauguration Ceremony. Their continued partnership and support have been instrumental to the success of the Kainantu Gold Mine," he said.
Lewins concluded by emphasising that this milestone positions K92 for future growth.
“This marks an exciting chapter in K92’s history as the Company advances towards Tier-1, mid-tier producer status. Beyond celebrating this milestone, we are excited for the significant long-term benefits that the Stage 3 Expansion will deliver for our employees, communities, and all stakeholders," the executive said.
K92 Mining Inc. announced strong production results for the third quarter of 2025 from its Kainantu Gold Mine in Papua New Guinea, as the company continues to make progress on its major Stage 3 expansion.
The company produced 44,323 ounces of gold equivalent (AuEq) during the quarter, including 42,244 ounces of gold, 1.3 million pounds of copper and 34,831 ounces of silver. Sales reached 45,006 ounces of gold, 1.48 million pounds of copper and 43,271 ounces of silver.
With more than 80 percent of the lower end of its yearly target already achieved and an additional 4,893 ounces of gold equivalent in its commissioning stockpile, K92 said it remains on track to meet its 2025 production guidance of 160,000 to 185,000 ounces AuEq.
The company processed 137,172 tonnes of ore in the quarter, a 31 percent increase from the same period last year, with an average gold grade above budget. Metallurgical recoveries were also strong, reaching 95 percent for gold and 94.6 percent for copper.
K92 reported record mine output of 353,770 tonnes of material, with several daily production records set in late September. The company credited this to efficiency improvements such as the completion of its first “material pass,” which allows ore and waste to be moved more efficiently from underground to surface.
Stage 3 Expansion on Schedule
Construction of the new Stage 3 Process Plant, capable of handling 1.2 million tonnes of ore per year, has been completed ahead of budget. The plant is now in the commissioning phase, with the first gold pour and concentrate production expected in the first half of the fourth quarter of 2025.
As of the end of September, 90 percent of Stage 3 expansion capital had been spent or committed, and the project remains within budget. Work also continues on the pastefill and tailings plants, ventilation systems and new underground connections aimed at boosting productivity and safety.
K92 said commissioning of the pastefill circuit is scheduled to begin in mid-2026, while other upgrades such as new power generation systems and tele-remote loaders have already been completed.
Chief Executive Officer John Lewins said the results reflect the company’s steady progress toward becoming a mid-tier gold producer.
“The third quarter marked another strong period of progress for K92 both in terms of production and continued execution of the Stage 3 Expansion,” he said.
Lewins added that the completion of the new plant marks “an exciting period in the company’s history as K92 transitions into a Tier-1, mid-tier producer.”
“Ore has already been introduced into the crushing, grinding, and flotation circuits of the new process plant, keeping us firmly on track for practical completion of commissioning and the first gold pour and concentrate production in the first half of Q4 2025,” he said. “Importantly, the team has built the process plant under budget, representing a significant achievement.”
He also highlighted the company’s progress on multiple projects that support future growth.
“We are also very pleased with the significant advancement we have made across a multitude of projects, de-risking the delivery of the Stage 3 Expansion and positioning the underground mine for Stage 4 and beyond,” Lewins said.
He added that with most of the capital already spent and strong quarterly output achieved, K92 is confident of meeting its full-year goals.
“Having already delivered 80% of the lower end of our annual guidance within the first three quarters plus a commissioning stockpile of 4,893 oz AuEq at the end of Q3, we are well-positioned to achieve our 2025 production guidance,” he said.
Ok Tedi Mining Limited (Ok Tedi) has successfully completed the construction of a critical underground pump station project that improves mine water management, enhances safety and delivers significant cost savings.
The project, which commenced in August 2024 and was completed in June 2025, was delivered incident-free and under budget, achieving a cost saving of US$1.2 million. The achievement underscores Ok Tedi’s commitment to safety and operational excellence.
With annual rainfall of around 10,000 millimetres experienced at the Mt Fubilan operation, the pump station is designed to manage the large volumes of rainwater discharged into the mine pit through shafts and depressurisation holes. The new system channels this water through 800-millimetre polypipes stretching 3.2 kilometres from the underground tunnel to the surface entrance, where it is safely discharged into the river system.
This engineering solution provides a safer, drier working environment for underground crews, enabling continuous productivity and improved working conditions.
The successful delivery of this complex project was a collaborative effort involving three contractors — Tabubil Engineering (TE), the Major Projects Electrical Team and Milum Services Limited (Milum) — who worked closely with more than 40 Ok Tedi underground mining crew members, including Wokman Teleoks Limited (WTL) embedded contract miners.
The project, led by James Waisime, Manager Mine Support Service and Underground, brought together mining engineers, geotechnical engineers, structural engineers, surveyors, boilermakers, pump fitters, electricians and underground miners from the Mine Operations business unit and Major Projects Engineering Team.
“This was a true team effort,” said Waisime. “The safe and timely completion of this project demonstrates the strength of collaboration across departments and our contractors. I’m proud of the commitment and professionalism shown by everyone involved.”
Managing Director and Chief Executive Officer Kedi Ilimbit congratulated the team for the successful completion of the project.
“As a world-class mine, it is imperative that we adopt global best practices. The underground pump station is among a number of projects undertaken by Ok Tedi to improve operational efficiency within our mine operation to ensure we continue to deliver results for the benefit of our shareholders – the people of Western Province and Papua New Guinea,” said Ilimbit.
Ok Tedi Mining Limited (OTML) marked a significant milestone with the successful signing of the 4th Community Mine Continuation Agreement (CMCA), featuring new and improved terms that reinforce the company’s enduring commitment to the communities of Western Province and Papua New Guinea.
The 4th CMCA delivers the largest increase in benefits in the agreement’s history – with up to an 80 percent rise across the board, and some regions receiving more than 100 percent increases in their current CMCA compensation packages. These benefits are not only larger in scale but broader in scope.
The new CMCA introduces three key components: • Youth Development Programs to empower future generations • Short-Term Investment Opportunities to promote economic sustainability • Impact Projects Agreement to address social development gaps
“These additions reflect our belief that the future of our communities lies not only in mining, but in education, entrepreneurship and resilience,” said Ok Tedi Managing Director and Chief Executive Officer Kedi Ilimbit during the signing ceremony on 7 October.
Ilimbit acknowledged the presence of Prime Minister James Marape, State-Owned Enterprise Minister William Duma, Mining Minister Rainbo Paita, Minister for Livestock and Member for South Fly Seki Agisa, Deputy Opposition Leader and Member for North Fly James Donald, Western Provincial Governor Taboi Awi Yoto, Member for Delta Fly Agena Gamai, and members of the Fly River Provincial Government.
Also in attendance were landowner leaders, community representatives, statutory agencies and government departments, all of whom joined in celebrating this milestone achievement built on more than a year of inclusive dialogue and negotiation.
The ceremony was witnessed by the Board and Management of Kumul Minerals Holdings, Mineral Resources Development Company (MRDC) management, Mineral Resources Authority Managing Director Jerry Garry, PNG Sustainable Development Program Limited management, Department of Mineral Policy and Geohazards Secretary Harry Kore and his team, and National Energy Authority Managing Director Ronald Maketa.
“This agreement is the result of a rigorous dialogue process grounded in Free, Prior and Informed Consent,” said Ilimbit. “Every village had the opportunity to engage, ask questions and make informed decisions with the support of independent legal advisors. It has been a long journey, lasting 19 months but one that reflects our shared values of transparency and respect.”
Mine village and CMCA leaders, women and youth representatives also commended Ok Tedi for the improvements to the CMCA benefits package and for its willingness to work collaboratively to achieve an outcome favourable to all parties.
Since the inception of the CMCA in 2001, the agreement has ensured that 152 CMCA villages and six mine villages have a direct voice and stake in the mine’s operations. Today, these communities are not only beneficiaries but shareholders, owning 21 percent of shares in Ok Tedi through Mineral Resources CMCA Holdings and Mineral Resources Star Mountain.
The remaining 12 percent of the 33 percent total shareholding by Western Province is held by the Fly River Provincial Government.
“As we honour PNG’s 50th Independence Anniversary, Ok Tedi remains proud as a pillar of nation-building. We are not just a mining company – we are a company owned by Papua New Guineans, serving Papua New Guineans and building Papua New Guinea,” said Mr Ilimbit. “Our legacy is measured not just in ounces of gold or tonnes of copper, but in the schools, health posts, infrastructure and sustainable livelihoods that will remain long after the mine closes.”
Ilimbit said, "To our landowners: thank you for your trust, patience and partnership. Ok Tedi belongs to all of us, and together, we will continue to make it a source of pride for Papua New Guinea.”
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