Canadian Company GPAC Positioned to Target Gold and Copper Deposits in PNG

The culmination of global economic uncertainty, geopolitical unrest, and expected Fed rate cuts in 2024 have suddenly made one asset more desirable than ever – gold. As a non-yielding asset, investors have been turning to this alternative store of value that they perceive to be safer due to its tangible, physical quality.

Due to this uptick in demand for gold, the question has become: who is positioned to take advantage of this new bull market? The answer may be Great Pacific Gold Corp (GPAC), a small Canadian company making big waves in the gold industry in Papua New Guinea (PNG).

The Golden Rule

PNG is one of the world’s leading gold-producing countries based on volume, which is why massive companies like Newmont Mining and Barrick Gold are acquiring multiple projects there. However, there is one company that is uniquely positioned to explore these large gold deposits thanks to their previous experience and current setup, and that company is GPAC.

The CEO of GPAC is Bryan Slusarchuk, who is also a co-founder and the former president of K92 Mining Inc., a gold company that has had huge success in PNG. On top of being backed by some of Canada’s most prominent mining players as investors and having Slusarchuk at the helm, the current CEO of K92, John Lewins, is a director at GPAC, meaning the team behind GPAC has a proven track record of tapping into the world-class gold deposits in PNG.

In addition to all this, GPAC has secured some high-grade land holdings both bordering and near the current K92 operations that total a commanding 2,166 square kilometers of land. Not only that, but GPAC has a strong cash position, with less than 85 million shares outstanding and approximately $14 million (CAD) in cash on hand. This means GPAC can aggressively drill these gold and copper targets without the need to raise more capital in the short term.

Slusarchuk notes, “GPAC has the right technical people, a strong cash balance, and we know and love the geology of PNG. Bordering K92 with a sizeable land position to the northwest of the K92 tenements is a great start for us, and we look forward to a very active time in the field in the days and weeks ahead. We believe we are in the right place at the right time in PNG, and this has been a long process culminating in this big land position.”

Elemental Extraction

Although it may be early days for GPAC, multiple high-grade gold samples have already been taken from the various GPAC projects in PNG, along with a substantial amount of historic drilling. The past drilling has only been accomplished at very shallow levels, leading GPAC to believe that others have only scratched the surface of the huge exploration potential.

Moreover, the samples back this up. For example, samples collected from a historic stockpile near the Wild Dog Zone returned bonanza grades of gold and copper. These samples included Sample 30104, which assayed 242 g/t Au, and Sample 68001, which assayed 122.5 g/t Au. To put this in perspective, the Fire Creek mine in Battle Mountain, Nevada, was touted as having one of the highest grades of gold deposits, and their reserves sit at 44.1 g/t Au.

Final Thoughts

Simply put, PNG is one of the hottest exploration jurisdictions right now, and companies like GPAC are on the front lines of these discoveries. With such a volume of untapped reserves, in conjunction with the global socioeconomic and political unrest, there has never been a better time to begin investing in gold. Whether you decide to get exposure at the multi-billion-dollar market capitalization level or look for the torque that a micro-cap like GPAC can bring (currently trading at a sub $50 million valuation), PNG is a place that should be considered if you’re a believer that gold (and copper) are attractive metals.

Slusarchuk summarizes, “PNG is an amazing place geologically. It is known as the Land of Giants within the mining business for a reason. Multiple world-class gold and copper deposits have been found in PNG, and we are in a unique position as GPAC to go into a country we know well with a vehicle that controls an outstanding land package.”

Ultimately, thanks to its operational setup and experienced management team, GPAC is an up-and-coming company to watch out for as it begins its operations in PNG to meet the growing global demand for gold.