Under the terms of the agreement, Great Pacific Gold acquires a significant 2,166km² mineral exploration land package in Papua New Guinea through two ELs and multiple ELAs
Great Pacific Gold completes previously announced acquisition of Wild Dog Resources. (Credit: ivabalk from Pixabay)
Canada-based Great Pacific Gold (formerly Fosterville South Exploration) has completed its previously announced acquisition of Wild Dog Resources (WDR).
Under the terms of the agreement, Great Pacific Gold acquires a significant 2,166km² mineral exploration land package in Papua New Guinea through two exploration licenses (ELs) and multiple exploration license applications (ELAs).
Wild Dog Resources’ shareholders received nearly 16.2 million common shares of Great Pacific Gold. Each shareholder of the former received one common share for every 7.028 WDR shares held.
Great Pacific Gold CEO Bryan Slusarchuk said: “We are pleased to diversify our portfolio with these high-quality gold and copper assets in PNG. With the financial and technical experience of various team members in PNG, we are in an excellent position to unlock the potential upside of these high-grade assets.
“We look forward to building on the excellent work that WDR has completed on multiple high-priority gold and copper drill targets across the land package.”
Both companies signed the agreement for the mineral exploration land package in April 2023.
Wild Dog Resources owns and has the right to earn an interest in three separate high-grade gold-copper mineral properties located in Papua New Guinea through ELs and ELAs.
The projects are the Wild Dog Project, the Arau Project and the Kesar Creek Project.
Located on the island of New Britain, the Wild Dog project consists of one EL and ELA each totalling 1424km².
The Kesar Creek project comprises of one ELA and is located 10km from the Kora gold deposit owned by K92 Mining.
The Arau project consists of one EL and ELA each located in the Kainantu region and adjoining K92 Mining’s Kainantu gold mine.