Great Pacific Gold Corp (TSXV:GPAC)(OTC:FSXLF)
Great Pacific Gold has been a high flyer over the last few weeks since their extraordinary gold discovery at the Comet Prospect, which is a part of the Lauriston Project in Victoria, Australia.
Notably, Hole CRC07 yielded impressive results, with a 5-meter intersection at 166.35 g/t Gold from 95m. This includes a remarkable 2 meters at 413 g/t Gold from 96m, featuring 1 meter at 468 g/t Gold and another at 358 g/t Gold.
Following the announcement of this high-grade gold intercept, the alteration halo outside of the heavily mineralized zone was assayed. 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.
This is a very significant drill intercept as it comes in at 848 gram meters. The drill hole is hinting that there may be a very large gold deposit on the property. In response to these outstanding results, the company is gearing up for a follow-up drill program.
What truly makes this drill intersection special is the LOCATION.
The Comet Prospect, where the high-grade zone discovery hole was drilled is just a few kilometres away from the Fosterville Mine deposit, which is the highest-grade gold mine in the world. The drill hole also showed epizonal characteristics of Au-As-Sb with geology similar to the Fosterville Mine deposit.
Recognized as the most profitable gold mine globally, the Fosterville mine boasts a market cap of $34 billion, providing context to Great Pacific Gold's $75 million market cap.
In a more recent news release, the company announced the appointment of Chris Muller to the board of directors. This is important because Chris was instrumental to the exploration success of K92 mining. 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.
In conclusion, Great Pacific Gold's recent gold discovery at the Comet Prospect, within the Lauriston Project, marks a significant milestone in the company's trajectory. The exceptional results from Hole CRC07, coupled with the proximity to the renowned Fosterville Mine, showcase the potential for a substantial gold deposit on the property. The strategic appointment of Chris Muller to the board further enhances the company's exploration capabilities. As Great Pacific Gold gears up for a follow-up drill program, the remarkable parallels to the world's highest-grade gold mine, Fosterville, and Dr. Muller's track record in successful discoveries bring a promising outlook for the company's future prospects in the lucrative gold industry.
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The author did not receive any compensation for publishing this article. The author owns shares of Great Pacific Gold Corp and may choose to buy or sell at any time without notice. While the author has made reasonable efforts to ensure the accuracy and reliability of the content, readers should conduct their own research and analysis and seek independent financial advice before making any investment decisions related to the small cap company mentioned.