Great Pacific Gold Corp. is providing a corporate update on its Wild Dog Project, its ongoing diamond drilling program at the Kesar Project and its recently held Annual General Meeting.
Highlights
- GPAC executive team recently visited Kesar and Wild Dog
- Kesar Anteruno diamond drilling program progressing well:
- ~1,000 meters of drilling completed to-date with two diamond rigs turning
- Holes KDH-01 and KDH-02 tested NW-SE Anteruno structures drilling from North to South
- Hole KDH-03 is testing a parallel structures drilling South to North
- 2,500 meters of drilling and five holes expected to be completed by year-end, with drilling planned to continue through Christmas and into January
- East Vein Target mapping and soil sampling underway with drilling expected in Q1 2025
- Wild Dog Site Visit reiterated that Wild Dog is a mid-stage exploration project with high-grade and bulk tonnage potential
- Previous small scale open pit mining has revealed a high-grade gold-copper system with intense alteration and brecciation
- Epithermal/oxide system open along strike and at depth
- Post the 2024 completion of various road access projects, Wild Dog 2025 program developed to include:
- infrastructure establishment and data consolidation, and
- diamond drilling focused on 3km portion of Wild Dog structure
- GPAC’s AGM was held on November 26, 2024 and all proposed resolutions were approved including the re-election of the five Directors
“The executive team’s inaugural visit to Wild Dog, alongside our in-country GPAC personnel, provided an invaluable opportunity to see the tremendous potential of this project firsthand,” said Greg McCunn, CEO of Great Pacific Gold. “Joining me on this visit were our new Vice President of Exploration, Callum Spink, Vice President of Corporate Development, Mick Carew, and Director Chris Muller. After the visit we planned out an extensive exploration program for 2025 focused on a 3km portion of the Wild Dog corridor. This area had historical mining operations which exposed intense and extensive brecciation, alteration and veining, pointing to a substantial hydrothermal system as indicated by high-grade intervals from previous drilling.”
Mr. McCunn continued, “Meanwhile, at our Kesar Project, diamond drilling is progressing well, with two drills active and approximately 1,000 meters completed to date. We are encouraged by the visual results and are planning to extend the program into 2025 to include testing the highly prospective East Vein Zone, located 2 kilometers north of current drilling at Anteruno. We look forward to updating the market with results as they become available.”
Annual General Meeting
GPAC is also pleased to announce the results of the AGM held on November 26, 2024. At the AGM, shareholders approved all motions put forth including re-election of Greg McCunn, Chris Muller, Robert McMorran, Iain Martin and Charles Hethey. The shareholders also approved the appointment of BDO Canada LLP as the auditors of the Company, as well as the 10% rolling stock option plan and the securities-based compensation plan (“SBC Plan”).
The SBC Plan permits the grant of Restricted Share Units (as defined in the Equity Plan) and Deferred Share Units (as defined in the SBC Plan) (Restricted Share Units and Deferred Share Units collectively referred to as “Awards”). The maximum number of shares issuable pursuant to the Awards that may be granted under the SBC Plan is fixed at 10,022,854. Further, the maximum number of shares for which Awards and other share compensation issuable to: (i) any participant shall not exceed 5% of the outstanding shares within any one-year period, (ii) a consultant shall not exceed 2% of the outstanding shares within any one year period; and (ii) insiders as a group shall not exceed 10% of the outstanding shares. No persons providing investor relations activities may be granted Awards under the SBC Plan. All Awards are subject to a mandatory one year vesting requirement. Additional details of the SBC Plan are set forth in the Company’s information circular dated October 24, 2024.
In conjunction with the AGM, the GPAC Board approved the granting of 775,000 restricted share units to current and newly hired management and consultants.
