South Pac Metals Stock Price, News & Analysis

South Pacific Metals Corp. (OTCQB: SPMEF) has reported significant progress at its Ontenu Central Prospect, part of the Osena Project in Papua New Guinea's Kainantu District. The company has expanded mineralization through its 2025 trenching program, with notable results including 5m @ 2.53 g/t Au within 87m @ 0.41 g/t Au in ONT25TR-001 and 1m @ 5.05 g/t Au within 50m @ 0.35 g/t Au in ONT25TR-003.

The exploration program has identified two main corridors - Westside & Central - each extending over 1,000 meters in length. The overall gold in soil anomalies now cover a 3 x 5 km area. The company has completed an additional 532m of trenches awaiting analysis and is preparing for an imminent drilling program, with the rig already in-country being commissioned.

South Pacific Metals (OTCQB: SPMEF) has appointed Timo Jauristo as its new Chief Executive Officer, effective June 30, 2025. Jauristo brings over 40 years of mining sector experience, notably serving as Executive VP of Corporate Development at Goldcorp Inc. and holding senior positions at Placer Dome.

The appointment comes as SPMEF prepares to launch its maiden drill program at Osena. The company has also granted 200,000 stock options at $0.49 per share and awarded 1,000,000 restricted share units (RSUs) to directors and officers, both vesting over three years.

South Pacific Metals Corp. (SPMEF) announced that President Cathy Fitzgerald will step down from her roles as officer and director, effective July 11, 2025. Executive Chair Michael Murphy acknowledged Fitzgerald's significant contributions to the company's growth and exploration strategy. Murphy will travel to Papua New Guinea to oversee preparations for the company's first drill program at the Osena Gold-Copper Project in the Kainantu Gold Region, with drilling expected to begin later in June 2025.

South Pacific Metals Corp. (SPMEF) has appointed Timo Jauristo as Strategic Advisor, bringing over 40 years of mining industry expertise to the company. Jauristo's impressive background includes serving as Executive VP of Corporate Development at Goldcorp Inc. and holding senior executive positions at Placer Dome, where he contributed to advancing major gold and copper projects. He currently serves as an independent director at Integra Resources Corp. As part of his appointment, Jauristo has been granted 500,000 share options at C$0.50 per share, exercisable over five years with a structured vesting schedule. His appointment comes as SPMC prepares for its maiden drill program at the Osena and Anga Gold-Copper Projects in PNG's Kainantu Gold Region.

South Pacific Metals Corp. (SPMEF) has announced significant discoveries at its Ontenu NE target within the Osena Project in Papua New Guinea, located just 1km south of K92 Mining's Kainantu gold mine. Surface rock samples revealed impressive grades of up to 10.3% copper and 1.7 g/t gold. The company identified multiple gold-in-soil anomalies extending over 500 meters within a 3km mineralized corridor.

Previous trenching at Ontenu Central yielded notable results, including 4m @ 4.52 g/t Au and 79m @ 0.75 g/t Au. The company is currently conducting Phase 2 trenching at Ontenu Central and preparing for a priority drill campaign set to commence in June 2025 with their company-owned diamond drill rig. The Ontenu prospects, spanning a 5km by 3km area, show characteristics of a large-scale gold-copper porphyry system with similarities to K92 Mining's Arakompa Project.

South Pacific Metals has launched a new exploration program at the Anga Project, focusing on the Irinke Extension Gold Prospects along the K92 border. The company has identified four priority gold exploration targets within a 4x4 km area through advanced lithogeochemistry.

Key developments include:

• Confirmation of Arakompa-like geochemical signature at the Irinke Prospect
• Ongoing sampling across prospects with results expected in May/June
• New diamond drill rig arriving mid-June for year-round drilling

The Irinke Prospect, located 1,500m east of K92 Mining's processing plant, has shown promising results with rock samples up to 3.68 g/t Au. Additional targets include Binano North, showing pathfinder elements and potential artisanal workings, and the Golkona Prospects, featuring a large altered intrusive complex with gold anomalies up to 70 ppb Au.

South Pacific Metals Corp. (SPMEF) has announced the acquisition of a MultiPower MP500 Diamond Core Drill following its C$6.3 million financing. The drill, capable of reaching depths of 500+ metres, will support exploration across the company's 3,100 km² portfolio of four gold-copper projects in Papua New Guinea.

Key project updates include:

• Osena Project: Focus on Ontenu Cu-Au Prospect, with recent trench results showing 79m averaging 0.75 g/t Au, including 4m at 4.52 g/t Au
• Kili Teke Project: Hosts Inferred Mineral Resource of 1.81 Moz Au, 802 kt Cu, and 40 kt Mo in 237 Mt
• May River Project: Historical drilling at Skiraisa showed 109m at 1.53 g/t Au from surface
• Anga Project: Defined 2 km-wide mineralized NE trending corridor at Irinke Prospect

South Pacific Metals Corp (OTCQB: SPMEF) has successfully completed the Warden's Hearing for the renewal of Exploration License EL 2310 for its Kili Teke Copper-Gold Project in Papua New Guinea. The license covers a 253 km² concession area.

The Project's Central Porphyry currently holds an Inferred Mineral Resource of:

• 1.81 Moz Au
• 802 kt Cu
• 40 kt Mo

contained in 237 Mt at 0.34% Cu, 0.24 g/t Au, and 168 ppm Mo.

The project is strategically located in the Western Highlands' Papuan Fold Belt, 40 km west of Barrick/Zijin's Porgera Gold Mine. Recent targeting has identified 10 new exploration targets near the Central Porphyry, including bulk-tonnage copper-rich targets, Porgera-style gold-rich targets, and high-grade skarn zones. Historical drilling revealed impressive results of 12.98% Cu, 11.75 g/t Au, and 21.07 g/t Ag over 7.8 m within a broader intersection.

South Pacific Metals Corp. (SPMEF) has announced the commencement of its 2025 exploration programs following a successful C$6.3 million financing. The company will conduct extensive exploration across its 3,100 square kilometre portfolio of four gold-copper projects in Papua New Guinea: May River, Osena, Anga, and Kili Teke.

The exploration activities will include systematic sampling, trenching, and drilling to expand the mineral potential of each property. The programs aim to build on existing geological data, confirm high-priority targets, and advance projects toward resource delineation.

Additionally, the company has engaged Danayi Capital Corp. to provide investor relations and digital marketing services for a fee of US$50,000 for one trial month, with an option to extend.