VANCOUVER, British Columbia, May 22, 2024 (GLOBE NEWSWIRE) — Great Pacific Gold Corp. (“Great Pacific Gold,” “GPAC,” or the “Company”) (TSXV: GPAC) (OTCQX: FSXLF) (Germany: 4TU) is pleased to announce that it has completed the acquisition of Tinga Valley Copper & Gold Corp. (“Tinga”) pursuant to the terms of an amalgamation agreement dated April 12, 2024 (the “Amalgamation Agreement”) with Tinga and a wholly-owned subsidiary of GPAC (the “Acquisition”).
Tinga, through a Papua New Guinea (“PNG”) subsidiary, holds a highly prospective Papua New Guinea copper-gold project called the Tinga Valley Property. Bryan Slusarchuk Chief Executive Officer of GPAC comments “ Tinga The Tinga Valley Property is drill ready with well-defined high-grade copper-gold porphyry and associated skarn exploration targets. Historical work has indicated the existence of an epithermal overprint as well as an excellent potential for project size with multiple porphyry bodies along a large alteration halo across a 2.
5km x 1.5km footprint. The Ok Tedi Copper Gold Mine, which lies 140kms to the north west along the same geological belt, is a superb geological comparison to the Tinga Valley Property.
Figure 1: Great Pacific Gold’s Papua New Guinea Properties. Pursuant to the Amalgamation Agreement, in consideration of Tinga: Clarus Securities Inc. (“Clarus”) was appointed as the Financial Advisor to GPAC in connection with the transaction.
In consideration of Clarus’ s.
