New Mineralised Structures Found at Ontenu NE, With Assay Results up to 3.85g/t Au, 1.2% Cu, 603g/t Ag in Rock Chips
Executive Summary
- South Pacific Metals Corp. reported high‑grade rock chip assays from a newly discovered mineralized structure at the Ontenu NE prospect, including up to 3.95 g/t Au, 1.2 % Cu and 603 ppm Ag.
- Additional notable intercepts include 7.69 g/t Au in a 10‑30 cm vein and 9.34 g/t Au with 272 g/t Ag from a creek float sample.
- The company plans to commence its first drill program in the Ontenu NE area within the next month, targeting epithermal Au‑Cu veins.
Key Details
- Assay Highlights (six representative rock chip samples):
- 3.95 g/t Au, 1.2 % Cu, 603 ppm Ag
- 2.65 g/t Au, 0.6 % Cu, 337 ppm Ag (repeat sample)
- 2.18 g/t Au, 0.1 % Cu, 100 ppm Ag
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Range of Au across six samples: 1.14 – 3.95 g/t
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Additional high‑grade results:
- 7.69 g/t Au, 17 g/t Ag in a 10‑30 cm vein within sheared conglomerate outcrop (visible gold noted).
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9.34 g/t Au, 272 g/t Ag in a creek float rock sample.
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Geological context:
- Outcrop lies on a >600 m long Au‑As soil anomaly; the corridor hosts multiple Au‑As (+Cu) anomalies up to 1,200 m long.
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Structures oriented NW‑SE and N‑S are analogous to vein orientations at nearby K92 Mine.
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Ongoing work:
- Mapping and sampling continue (some assays pending).
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Trenching and reconnaissance ongoing across the broader Ontenu Project area.
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Future plans:
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Drill planning underway; first drill holes expected within the next month, targeting epithermal Au‑Cu veins.
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Qualified Person: Darren Holden, PhD, FAusIMM (Technical Advisor) reviewed and approved the technical information per NI 43‑101.
Notable Quotes
“Our exploration only recently pivoted to Ontenu NE. Within a short time, we have found several new mineralised structures which we suspect could represent the upper levels of epithermal Au‑Cu veins… To encounter high gold, copper and silver in some of these structures is encouraging.” – Timo Jauristo, CEO
Materiality Assessment: Material – Positive (the disclosed high‑grade assays and imminent drilling program constitute a materially positive development for the company).