Papua New Guinea Projects To Accelerate Gold And Copper Exploration With New Mobile Rig

Papua New Guinea Projects To Accelerate Gold And Copper Exploration With New Mobile Rig

VANCOUVER – South Pacific Metals Corp. (SPMC) reported the acquisition of its first man-portable diamond drill designed for efficient core drilling to depths of 500+ metres in remote locations. The new MultiPower MP500 Diamond Core Drill can operate year-round and will support faster and more cost-effective mobilization efforts across SPMC’s 3,100 km² portfolio of four gold-copper projects in Papua New Guinea.

The Drill Rig purchase enables the Company to accelerate early-stage target testing of known high-grade gold and copper bearing structures. Equipment is scheduled to arrive at the end of May, with drilling to begin soon after.

“The acquisition of our first man-portable drill rig marks a major milestone in accelerating our exploration efforts across Papua New Guinea,” said Michael Murphy, Executive Chair. “With a strong treasury following our recent financing, we’re now in a position to aggressively advance our gold and copper projects. The bulk of our identified drill targets fall well within the depth range of this rig, allowing us to operate more efficiently and cut estimated drilling costs by nearly half. While surface work continues to refine and expand our target pipeline, upcoming drill programs are designed to test both known zones of mineralization and newly prioritized areas with strong potential. We’re confident this next phase will drive significant value across our portfolio.”