Unearthing the Potential: Great Pacific Gold’s Remarkable Discoveries and Strategic Appointments

Great Pacific Gold Corp. (“Great Pacific Gold,” “GPAC,” or the “Company”) (TSXV: GPAC) (OTCQX: FSXLF) (Germany: 4TU) recently reported a significant high-grade gold discovery at its Lauriston Project in Victoria, Australia (see news release dated December 19, 2023). The discovery, made in Reverse Circulation (RC) hole CRC07, revealed a remarkable 5m intercept at 166 g/t Gold from 95m, including 2m at 413 g/t Gold from 96m, and 1m at 468 g/t Gold, as well as 1m at 358 g/t Gold.

Unexpected Gold Riches

Following the announcement of this high-grade gold intercept, the Company conducted an assessment of the alteration halo outside of the heavily mineralized zone. Surprisingly, the results showed high-grade assays, including an interval of 1m grading 13 g/t Gold.

The complete assay of the intercept, from 95m, is now 8m at 106 g/t Gold, including 5m at 166 g/t Gold, including 2m at 413 g/t Gold, including 1m at 468 g/t Gold, and 1m at 358 g/t Gold.

Comet Prospect: A Promising Find

The Comet Prospect, where the high-grade zone discovery hole was drilled, has epizonal characteristics of Au-As-Sb with geology similar to the Fosterville Mine deposit (see Figure 1). The west-dipping Comet fault zone is hosted by Ordovician slates and sandstones, which are folded in a series of north-south striking concertina folds. This high-grade discovery is near the Comet Anticline that has been mapped in the area, which is a similar structural setting of the mineralization present at Fosterville.

A diamond drill rig is mobilizing to site to follow up on the discovery, made with an RC rig, and drilling is expected to resume at Comet during late January or early February.

Welcoming Dr. Chris Muller to the Board

Additionally, the Company is pleased to report that Dr. Chris Muller has joined the Board of Directors, replacing John Lewins who will continue with the Company in an active Advisory Board position. The Company has been very grateful for Mr. Lewins’ significant contributions to the Company since its initial public offering in April 2020.

Dr. Muller is a geologist with over 20 years of experience in open pit and underground mine, near mine, brownfields and greenfields exploration, in Papua New Guinea, Mongolia, China, Ghana, Indonesia, and Thailand. He is Executive Vice President, Exploration for K92 Mining Inc., a rapidly growing gold and copper producer in Papua New Guinea. Dr. Muller has worked on a range of mineral deposit styles, including porphyry Cu/Au, epithermal and skarn precious and base metal, carbonate – base metal, and Archean gold deposits. He has been directly involved in several important mineral finds during his career, including the discovery of additional porphyry deposits that led to the world-class status of the Wafi/Golpu project in Papua New Guinea.

During his tenure at K92, Dr. Muller and the K92 team have been involved in multiple discoveries, including Kora North, which was awarded the prestigious Thayer Lindsley Award for Best Global Discovery in 2021 from the Prospectors and Developers Association of Canada and the discovery of the Blue Lake Porphyry, initially recognized in 2017 and now Papua New Guinea’s 5th largest porphyry deposit.

He holds a Bachelor of Science degree (majoring in geology and geophysics), a degree with first-class honors in economic geology, and a PhD in plate tectonics in conjunction with molecular dating.

About GPAC

Great Pacific Gold has a portfolio of high-grade gold projects in Papua New Guinea (“PNG”) and Australia.

In PNG, Great Pacific Gold recently acquired a significant 2,166 sq. km mineral exploration land package in PNG. The land package comprises exploration licenses (EL) and exploration license applications (ELA). It includes both early-stage and advanced-stage exploration targets with high-grade epithermal vein and porphyry-style mineralization present.

The Arau Project consists of one exploration license, EL 2651, and one exploration license application, ELA 2715, located in the Kainantu region and includes the Mt. Victor Prospect, where previous drilling found a multiple-phase intrusion complex hosting copper and gold mineralization.

The Wild Dog Project consists of one granted exploration license, EL 2761, and one exploration license application, ELA 2516, located on the island of New Britain and about 50 km southwest of Rabaul and Kokopo, PNG.

In Australia, Great Pacific Gold began with two, 100% owned, high-grade gold projects called the Lauriston and Golden Mountain Projects and has since acquired a large area of granted and application tenements containing further epizonal (low-temperature) high-grade gold mineralization and associated intrusion-related gold mineralization, all in the state of Victoria, Australia. The Great Pacific Gold land package, assembled over a multi-year period, notably includes the Lauriston Project, which is a 535 sq. km property immediately to the south of and within the same geological framework that hosts Agnico Eagle Mines Ltd’s Fosterville Gold Mine and associated exploration tenements. The Golden Mountain Project is an intrusion-related gold project on the edge of the Strathbogie granite and occurs at the northern end of the Walhalla Gold Belt. The acquired projects include the epizonal gold Providence Project containing the Reedy Creek goldfield, which adjoins the Southern Cross Gold’s (ASX:SXG) Sunday Creek exploration project and a large group of recently consolidated granted tenements called the Walhalla Gold Belt Project, which contain a variety of epizonal and intrusion-related style gold mineralization. Additionally, Great Pacific Gold has another gold-focused project called the Moormbool project, which has epizonal style gold mineralization and associated potential intrusion-related gold mineralization, as well as the Beechworth Project, which occurs in the northeast of the state and contains intrusion-related and mesozonal gold mineralization.

All GPAC’s properties in Australia are 100% owned and have had historical gold production from hard rock sources despite limited modern exploration and drilling.

Conclusion

Great Pacific Gold’s recent high-grade gold discovery at the Lauriston Project and the surprising results from the alteration halo assessment at the Comet Prospect are significant developments for the company. The addition of Dr. Chris Muller to the board brings a wealth of experience to the team and further enhances their exploration capabilities.

As drilling resumes at Comet, there is a sense of anticipation in the air, and investors will be watching closely for further updates on these promising developments.