South Pac Metals Stock Price, News & Analysis

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.

South Pacific Metals Corp. (SPMEF) has announced two significant administrative changes. First, the company has changed its auditor from Smythe LLP to Davidson & Company LLP, effective December 10, 2024. The required documentation for this change has been filed on SEDAR+.

Additionally, the company has modified its financial year-end from December 31 to March 31 to enhance financial and operational efficiencies and better align with audit service availability. The current financial year will span 15 months from January 1, 2024, to March 31, 2025. Following this transition, SPMEF will adopt a quarterly reporting calendar based on the new March 31 year-end.

South Pacific Metals Corp. (TSXV: SPMC) (OTCQB: SPMEF) announced that its President, Cathy Fitzgerald, has been named among the '100 Global Inspirational Women in Mining' (WIM100) by Women in Mining UK. Fitzgerald, with over 20 years of experience in technical and leadership roles, was selected from 570 nominations spanning 41 countries. The recognition highlights her contributions to exploration and development projects in critical commodities including copper, gold, silver, and lithium. The WIM100 initiative, launched in 2013, celebrates women who demonstrate leadership, innovation, and commitment to creating a more inclusive mining sector.

South Pacific Metals Corp has appointed Dean Williamson as Exploration Manager in Papua New Guinea to lead drilling programs at the Anga and Osena Projects in the Kainantu Gold District. Williamson brings over 30 years of experience, including five years at K92 Mining where he led significant gold-copper discoveries. Recent surface sampling at the Irinke Prospect has defined a 2km-wide mineralized corridor, with rock chip samples yielding up to 3.28 g/t Au and 1,292ppm Cu. A new anomaly was discovered at Binano, less than 1,500 metres from K92's Plant Site. The company's projects share a 45km mineralized corridor with K92's operations, positioning them for potential near-term discoveries.