South Pacific Metals Returns up to 12.8% Copper from Outcrop Outside the Kili Teke Resource; Massive Sulphide Traced over 200 Metres
Rhea-AI Summary
South Pacific Metals (OTCQB: SPMEF) reported first assay results and field progress from the 100%-owned Kili Teke copper-gold project in Papua New Guinea. Rock-chip sampling from a massive sulphide unit on the western margin of the Central Main Porphyry, outside the current Mineral Resource, returned up to 12.8% Cu, 0.30 g/t Au and 104 g/t Ag over an outcropping horizon traced for more than 200 metres along a fault contact.
Historic trench mineralisation at Ieru (Yalopi) was validated by new sampling averaging 0.36% Cu and 0.72 g/t Au, while the Ridge Gold (Kwaki Creek) soil anomaly to the east has reported gold in soils up to 9,390 ppb Au. Kili Teke hosts an NI 43-101 Inferred Mineral Resource of 237 Mt at 0.34% Cu and 0.24 g/t Au, equivalent to approximately 4.2 Moz AuEq or 3.14 billion lbs CuEq within the Central Main Porphyry. South Pacific Metals plans to define drill-ready targets in the two priority areas by the end of October 2026 ahead of a maiden diamond drill program, and has expanded its online marketing agreement with i2i Marketing Group to a total media budget of US$400,000.
Positive
- Massive sulphide outcrop up to 12.8% Cu over 200 m trend outside existing resource
- Historic trench confirmed by eight new samples averaging 0.36% Cu and 0.72 g/t Au
- High-grade soil anomaly at Ridge Gold with up to 9,390 ppb (9.39 g/t) Au
- Large existing resource base of 237 Mt at 0.34% Cu and 0.24 g/t Au (4.2 Moz AuEq; 3.14 bn lbs CuEq)
- Deep historic intercept of 187 m at 1.10% CuEq from 501 m in hole KTDD022
- Drill-ready targets expected by end of October 2026 for a maiden diamond drill program
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Assays confirm mineralisation within a massive sulphide unit mapped over more than 200 metres on the western margin of the Central Porphyry. Two priority target areas outside the current Mineral Resource are advancing toward drill-ready status.
Highlights
Massive sulphide unit, mapped over 200 metres and open, along a north-south fault contact on the western margin of the Central Porphyry outside of the Mineral Resource boundary strengthened by surface mapping and assays: outcrop samples returned
12.8% Cu, 0.30 g/t Au and 104 g/t Ag.Historic trench mineralisation validated by new sampling. Eight samples collected across part of the historic trench were mineralised, averaging
0.36% Cu and 0.72 g/t Au.Ridge Gold (Kwaki Creek area) remains a compelling geochemical target: historic soils returned up to 9,390 ppb Au (9.39 g/t Au) within a strong gold-in-soil anomaly, also elevated in tellurium, indicating a potential alkalic, Porgera-style target.Previous drilling was oriented from the north-to-south and did not effectively test the inferred south-dipping structures.
Further targeting focused at depth beneath the current Mineral Resource, where historic drilling includes 187 m at
1.10% CuEq (0.62% Cu, 0.44 g/t Au) from 501 m in KTDD022.Additional 205 soil samples and 60 rock samples pending assay from current program.
Drill-ready targets expected in Q4 2026, ahead of a planned maiden diamond drill program.
Vancouver, British Columbia--(Newsfile Corp. - August 31, 2026) - South Pacific Metals Corp. (TSXV: SPMC) (OTCQB: SPMEF) (FSE: 6J00) ("SPMC" or the "Company") is pleased to report first assay results and field progress from the Kili Teke Copper-Gold Project ("Kili Teke") in Hela Province, Papua New Guinea, held
The current work is prioritising two target areas outside the Mineral Resource (see news release dated July 29, 2026) - the Ieru (Yalopi formation) to the west of the Central Porphyry, including the massive sulphide and trench zones, and Ridge Gold (Kwaki Creek area) to the east. Much of the preparatory work required to convert them into drill-ready targets is now well underway. The current program represents the first systematic exploration at Kili Teke in approximately a decade.
Timo Jauristo, CEO of SPMC, commented: "Kili Teke has been dormant for almost a decade, but the opportunity here was never in doubt. Our first exploration program has already found further encouraging evidence of strong mineralisation in several areas outside of historically drilled Central Porphyry. This supports our view of Kili Teke as a broader porphyry/epithermal complex around the 4.2 Moz AuEq or 3.1 billion lbs CuEq Central Porphyry. Our focus now is on pulling this recent data together with the historical dataset to define targets ready for drill testing by the end of October."
Figure 1: Kili Teke Au-Te-As anomalies in soils, with recent sampling
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FIRST ASSAY RESULTS
The first-phase exploration program by SPMC is designed to map and sample the district surrounding the Central Main Porphyry to identify and prioritise new drill targets outside the current Mineral Resource.
Forty-two rock samples collected during the initial site visit have been analysed for gold (Au), copper (Cu), and silver (Ag), with full multi-element results pending. Selected results are presented in Table 1, with results for all 42 samples provided in Appendix 1:
Table 1: Highlights from rock sampling
| Sample ID | Easting | Northing | RL | Silver (g/t) | Gold (g/t) | Copper(%) |
| E50301 | 688602 | 9403499 | 1396 | 104.0 | 0.30 | 12.80 |
| E50319 | 688795 | 9403351 | 1391 | 7.7 | 0.76 | 1.84 |
| E50327 | 688633 | 9403279 | 1324 | 6.8 | 0.64 | 1.44 |
| E50321 | 688670 | 9403288 | 1333 | 3.2 | 0.34 | 1.44 |
| E50322 | 688645 | 9403281 | 1318 | 2.0 | 0.19 | 0.73 |
| E50331 | 688565 | 9403188 | 1297 | 9.5 | 0.08 | 0.56 |
| E50329 | 688565 | 9403188 | 1297 | 4.7 | 0.18 | 0.56 |
| E50328 | 688569 | 9403191 | 1292 | 6.5 | 0.57 | 0.51 |
| E50339 | 688171 | 9403293 | 1191 | 4.0 | 0.59 | 0.46 |
| E50336 | 688167 | 9403289 | 1192 | 11.0 | 0.43 | 0.46 |
| E50337 | 688169 | 9403290 | 1192 | 3.7 | 0.72 | 0.41 |
| E50302 | 688601 | 9403489 | 1391 | 1.8 | 0.28 | 0.39 |
| E50343 | 688180 | 9403322 | 1199 | 6.4 | 1.88 | 0.39 |
Rock chip and outcrop sampling is selective in nature and the results are not necessarily representative of the overall mineralisation present on the Project. See sampling and quality assurance below for analytical methods and QA/QC procedures. Full results for all 42 samples are available in Appendix 1.
Figure 2: Geology of the Kili Teke area showing recent rock samples
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TWO PRIORITY TARGET AREAS DEFINED
The Yalopi formation, part of the Ieru prospective zone, lies west of the Central Main Porphyry resource and incorporates a large gold-in-soil anomaly, the historic Ieru trench and the newly mapped massive sulphide unit described above. The historic trench returned 132 m at
At the Kwaki Creek area, within the greater Ridge Gold area, a priority target area east of the Central Main Porphyry resource incorporates the very high tenor gold-in-soil anomaly. A 205-sample soil grid has been completed, while recent mapping identified further altered and mineralised outcrop, including monzonite, on the northern flank of the ridge, consistent in type and style with mineralisation already documented to the south. The target area is materially larger than it was previously understood to be. Historic trenches on the southern flank have been relocated and resampled. This target is expected to be defined by gridded soil geochemistry along with mapping.
The Company's initial focus will be generating drill targets outside of the historic resource area, focused on Ieru-Yalopi and Ridge Gold-Kwaki areas.
FURTHER TARGETS AT DEPTH BENEATH THE MINERAL RESOURCE
Prior operator, Harmony Gold, completed approximately 37,500 metres of drilling at Kili Teke and defined the current Mineral Resource within the upper part of a single porphyry centre (Central Main Porphyry). Several of the longest and highest-grade intercepts recorded extend below the base of that model, and a number of holes ended in mineralisation.
Selected historical intersections include higher-grade Cu-Au intervals reported at
Table 2: Selected historical drill intersections at depth at Kili Teke's Central Main Porphyry
| Hole | From (m) | Interval (m) | Cu (%) | Au (g/t) | CuEq (%) |
| KTD013 | 348 | 52 | 1.18 | 0.81 | 2.06 |
| KTD022 | 571 | 47 | 1.08 | 0.5 | 1.62 |
| KTD025 | 712 | 32 | 1.01 | 0.46 | 1.51 |
| KTD025 (Skarn) | 920 | 8 | 13.31 | 11.75 | 26.02 |
| KTDD022 | 501 | 187 | 0.62 | 0.44 | 1.1 |
Copper-equivalent (CuEq) is calculated as CuEq (%) = Cu (%) + 1.0815 × Au (g/t), using metal prices of US
Octavio Garcia, Exploration Manager of SPMC, commented: "What stands out from this first program is that the geology is telling us the same story from two independent directions. On the western side we have strong outcrop exposure in the creek beds, including sulphide mineralisation we can trace along strike for a couple of hundred metres, which gives us real confidence in that area even before the balance of the assays are back. The eastern side is different - the outcrop is there, but Ridge Gold will be defined more by soil geochemistry than by what we can see at surface, so the two areas will mature differently. The best information is coming from the bottom of deep creeks, which will be a challenge for drilling but is not impossible. Our priority now is turning this into a properly ranked, structurally-informed drill target inventory."
THE MINERAL RESOURCE
Kili Teke hosts an NI 43-101 Inferred Mineral Resource of 237 million tonnes, defined by Harmony Gold within the upper part of the Central Main Porphyry alone, inside the broader 253 km² licence:
Table 3: NI 43-101 Mineral Resource at Kili Teke's Central Main Porphyry (effective 18 November 2022)
| Inferred Resource - 237 Mt | Grade | Contained Metal |
| Copper | 1.77 billion lbs Cu | |
| Gold | 0.24 g/t Au | 1.81 Moz Au |
| Gold-equivalent | 0.55 g/t AuEq | 4.2 Moz AuEq |
| Copper-equivalent | 3.14 billion lbs CuEq |
Kili Teke Inferred Mineral Resource of 237Mt @
Gold-equivalent and copper-equivalent grades are calculated at US
The resource is reported on both a gold-equivalent and a copper-equivalent basis as Kili Teke is a bi-metallic asset: a meaningful gold inventory and a meaningful copper inventory in the same deposit, and neither presentation alone describes it fully.
NEXT STEPS
Further samples have been collected, including 205 soil samples and 60 rock samples, with assay results to be reported once received and validated.
Geochemical analysis integrating new field results with the historical datasets - to test for mineralisation outside the Central Porphyry.
A LiDAR and airborne magnetic survey to support structural interpretation and drill planning.
Collection of additional structural data required to define drilling parameters.
Finalisation of alteration, lithology, structural, mineralisation assemblages and their interpretation.
Follow-up on several other targets identified in the surrounding area.
The Company anticipates being in a position to define drill-ready targets within the two priority areas by the end of October 2026. Further field campaigns are planned, the scope of which will depend on the outcome of the current assessment and which will include further mapping and sampling of the two main targets, as well as other targets. Further details will be announced in due course.
Quality Assurance and Quality Control
All rock samples are collected on site by the Company's geology team and surveyed using hand-held GPS. Samples are shipped to Intertek Laboratory in Lae, Papua New Guinea. Gold is assayed by 50 g fire assay with AAS finish (FA50/AA); copper and silver are assayed by 3-acid digest with AAS finish (PGGA03) at Intertek Lae. Only the initial assaying for Au-Cu-Ag is reported in this release. Sample pulps are subsequently sent to Intertek in Perth, Western Australia, for multi-element ICP-MS analysis using a 4-acid digest (4A/MS); the ICP-MS multi-element work is pending for all samples noted in this release. The Company's procedures require the insertion of two certified reference materials (standards), one blank and one duplicate within each batch of 100 samples to monitor laboratory performance.
Qualified Person
The technical and scientific information relating to exploration in this news release has been reviewed and approved by Dr. Darren Holden, B.Sc. (Hons), Ph.D., FAusIMM, a technical advisor and consultant to the Company and a "Qualified Person" as defined under National Instrument 43-101. Resource information is drawn from the independent technical report dated 18 November 2022, prepared by Graeme J. Fleming, B. App. Sc., MAIG, available under the Company's profile on SEDAR+ at www.sedarplus.ca.
Marketing Agreement Update
The Company is providing further disclosure in respect of its online marketing agreement dated June 5, 2026, as amended (the "Marketing Agreement"), with i2i Marketing Group, LLC ("i2i"), previously disclosed in the Company's news releases dated June 5, 2026, and June 16, 2026.
The Company and i2i have entered into an amending agreement dated August 26, 2026 (the "Amending Agreement"), pursuant to which the Company has agreed to pay an additional minimum creation and media distribution budget of US
The Continued Media Budget is payable by the Company in cash, in advance and the Company has not issued, and will not issue, any securities to i2i as compensation for its services.
The services to be provided under the Marketing Agreement are otherwise unchanged and consist of corporate marketing and investor awareness services, including content creation management, author sourcing, project management and media distribution.
i2i is a private company led by its principal, Joseph Grubb, with its place of business at 1107 Key Plaza, Suite 222, Key West, Florida, 33040, United States. i2i is at arm's length to the Company and, to the knowledge of the Company, i2i does not have any interest, directly or indirectly, in the Company or its securities, nor any right or present intention to acquire such an interest.
The Amending Agreement remains subject to the acceptance of the TSX Venture Exchange.
Investor Distribution Campaign Agreement
The Company further announces that it has entered into an investor marketing and distribution agreement dated August 31, 2026 (the "Distribution Agreement") with Emerging Growth, LLC, doing business as TDM Financial ("TDM Financial"), pursuant to which TDM Financial will provide investor marketing and distribution services to the Company.
Under the Distribution Agreement, TDM Financial will conduct a four-month investor distribution campaign consisting of the distribution of Company content as sponsored content on social media networks, in alerts delivered to users of SECFilings.com, and by email to TDM Financial's investor subscriber base.
The total consideration payable under the Distribution Agreement is US
TDM Financial is a trade name of Emerging Growth, LLC, a private company with its place of business at 600 E. 8th St., Whitefish, Montana, 59937, United States. TDM Financial is at arm's length to the Company and, to the knowledge of the Company, neither TDM Financial nor any of its principals has any interest, directly or indirectly, in the Company or its securities, nor any right or present intention to acquire such an interest.
The Distribution Agreement is subject to the acceptance of the TSX Venture Exchange.
About South Pacific Metals Corp.
South Pacific Metals Corp. is an emerging gold-copper exploration company operating in the heart of Papua New Guinea's proven gold and copper production corridors. SPMC has four exploration properties:
Ontenu (Osena Project) - Bordering K92 to the southwest. Drilling underway on K92-style targets with drill hits including 8.0 m grading 8.95 g/t Au,
0.10% Cu and 16 g/t Ag and 12.2 m grading 4.93 g/t Au,0.50% Cu and 55 g/t Ag (ONED26-009). All intervals are downhole lengths; true widths have not yet been determined.Anga - Bordering K92 to the northeast, along strike from K92's Arakompa discovery; soils to 1,080 ppb Au, 3,397 ppm Cu and stream samples up to 281.8 g/t Au.
Kili Teke - 4.2 Moz AuEq* NI 43-101 Inferred Resource (effective 18 November 2022) of 237 Mt @
0.34% Cu, 0.24 g/t Au and 168 ppm Mo; containing approximately 802 kt Cu, 1.81 Moz Au, 40 kt Mo.May River - District-scale system beside Frieda River; high-grade drilling includes 19 m @
11.47% Cu, 2.17 g/t Au and 109 m @ 1.53 g/t Au.
* Kili Teke Inferred Mineral Resource of 237Mt @
SPMC common shares are listed on the TSX Venture Exchange (TSXV: SPMC), the OTCQB Marketplace (OTCQB: SPMEF) and Frankfurt Stock Exchange (FSE: 6J00).
For further information please contact:
Michael Murphy, Executive Chairman
Tel: +1-604-260-0309
Email: info@southpacificmetals.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by words and phrases such as "anticipates", "expects", "intends", "plans", "believes", "estimates", "may", "could", "would", "will", "potential", "proposed", "subject to" and similar expressions, or statements that certain actions, events or results "may", "could", "would" or "will" occur or be achieved. Forward-looking information in this news release includes, among other things, statements regarding the Company's planned and ongoing drilling and exploration programs; the timing and expected results of those programs; the interpretation of geological, geochemical and geophysical data; the potential for mineralisation on the Company's properties; the Company's engagement of i2i and TDM Financial; the anticipated nature, scope, timing and continuation of the marketing, investor awareness and distribution services to be provided by each of them; the amount and expenditure of the Continued Media Budget and of the consideration payable under the Distribution Agreement; and the acceptance by the TSX Venture Exchange of the Amending Agreement and the Distribution Agreement.
Forward-looking information is based on the Company's current expectations, estimates, forecasts and projections, as well as assumptions that the Company considers reasonable as of the date of this news release. These assumptions include, among others: the continuity of mineralisation; the accuracy of the Company's interpretation of geological, geochemical and geophysical data; the timing and results of planned and ongoing drilling and exploration; the timeliness of assay results from third-party laboratories; the Company's ability to obtain and maintain required permits and regulatory approvals; the continued support of local communities and government stakeholders in PNG; the availability of equipment, personnel and consultants; continued access to project sites; general business, economic and capital market conditions; the Company's ability to obtain required TSX Venture Exchange acceptance; the ability of each service provider to provide the contemplated services; and the availability and effectiveness of media placements and marketing services.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among others: risks inherent in mineral exploration and development, including that exploration may not result in the discovery of an economically viable mineral deposit; the risk that drilling results, assays and geological interpretations may not be indicative of the presence, continuity or grade of mineralisation; delays in receiving assay results or in the progress of exploration programs; the risk that historical results and third-party data may not be verified or replicated; uncertainties relating to mineral resource estimates, including the Kili Teke Inferred Mineral Resource; the risk that planned exploration activities may be delayed, modified, suspended or terminated; risks relating to title, permitting and access to mineral properties; risks relating to operations in Papua New Guinea, including political, security, infrastructure, community-relations and logistical risks; the Company's ability to fund its business and exploration activities; commodity price volatility; currency fluctuations; the risk that the TSX Venture Exchange may not accept the Amending Agreement or the Distribution Agreement on the terms proposed or at all; the risk that the marketing, investor awareness and distribution services may not commence as anticipated or at all, or may be delayed, modified, suspended or terminated; the risk that media placements or investor awareness activities may not achieve the expected results; and the other risks described in the Company's public disclosure documents filed under its profile on SEDAR+.
Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof, and the Company does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
APPENDIX
Table A.1: Recently received rock chip results ordered by Cu%, with samples >
| Sample ID | Easting | Northing | RL | Silver (g/t) | Au (g/t) | Copper (%) |
| E50301 | 688602 | 9403499 | 1396 | 104 | 0.295 | 12.80 |
| E50319 | 688795 | 9403351 | 1391 | 7.7 | 0.762 | 1.84 |
| E50327 | 688633 | 9403279 | 1324 | 6.8 | 0.642 | 1.44 |
| E50321 | 688670 | 9403288 | 1333 | 3.2 | 0.342 | 1.44 |
| E50322 | 688645 | 9403281 | 1318 | 2 | 0.193 | 0.73 |
| E50331 | 688565 | 9403188 | 1297 | 9.5 | 0.076 | 0.56 |
| E50329 | 688565 | 9403188 | 1297 | 4.7 | 0.184 | 0.56 |
| E50328 | 688569 | 9403191 | 1292 | 6.5 | 0.57 | 0.51 |
| E50339* | 688171 | 9403293 | 1191 | 4 | 0.593 | 0.46 |
| E50336* | 688167 | 9403289 | 1192 | 11 | 0.431 | 0.46 |
| E50337* | 688169 | 9403290 | 1192 | 3.7 | 0.723 | 0.41 |
| E50302 | 688601 | 9403489 | 1391 | 1.8 | 0.283 | 0.39 |
| E50343* | 688180 | 9403322 | 1199 | 6.4 | 1.881 | 0.39 |
| E50317 | 688840 | 9403314 | 1393 | 6.9 | 0.402 | 0.38 |
| E50345 | 688104 | 9403088 | 1130 | 10.9 | 0.561 | 0.37 |
| E50341* | 688177 | 9403303 | 1189 | 2.3 | 0.709 | 0.35 |
| E50326 | 688635 | 9403283 | 1324 | 1.6 | 0.238 | 0.32 |
| E50304 | 688567 | 9403405 | 1360 | 5.6 | 0.114 | 0.32 |
| E50342* | 688174 | 9403312 | 1194 | 10.1 | 0.783 | 0.30 |
| E50310 | 688538 | 9403213 | 1290 | 8 | 0.477 | 0.29 |
| E50338* | 688171 | 9403292 | 1190 | 2.2 | 0.447 | 0.27 |
| E50349 | 688688 | 9403102 | 1359 | 1.8 | 0.274 | 0.26 |
| E50303 | 688600 | 9403483 | 1387 | 2.2 | 0.157 | 0.24 |
| E50333 | 688565 | 9403188 | 1297 | 22.5 | 0.65 | 0.23 |
| E50344* | 688184 | 9403321 | 1200 | 2.1 | 0.225 | 0.22 |
| E50318 | 688839 | 9403335 | 1398 | 0.5 | 0.13 | 0.20 |
| E50332 | 688565 | 9403188 | 1297 | 4.1 | 0.016 | 0.19 |
| E50312 | 688605 | 9403266 | 1301 | 3.4 | 0.626 | 0.18 |
| E50305 | 688540 | 9403385 | 1351 | 9 | 0.939 | 0.18 |
| E50306 | 688531 | 9403352 | 1342 | 10.5 | 0.013 | 0.18 |
| E50351 | 688679 | 9403098 | 1360 | 1.8 | 0.291 | 0.17 |
| E50347 | 688707 | 9403106 | 1351 | 0.1 | 0.217 | 0.12 |
| E50324 | 688630 | 9403288 | 1319 | 9.3 | 0.736 | 0.12 |
| E50352 | 688657 | 9403101 | 1356 | 1.6 | 0.131 | 0.07 |
| E50315 | 688627 | 9403282 | 1312 | 1.8 | 0.046 | 0.07 |
| E50323 | 688643 | 9403282 | 1320 | 0.6 | 0.203 | 0.07 |
| E50348 | 688698 | 9403105 | 1356 | 0.3 | 0.21 | 0.06 |
| E50313 | 688614 | 9403258 | 1302 | 0.8 | 0.022 | 0.04 |
| E50311 | 688569 | 9403194 | 1288 | 2.1 | 0.029 | 0.01 |
| E50309 | 688561 | 9403210 | 1297 | 0.3 | 0.091 | 0.01 |
| E50307 | 688554 | 9403252 | 1319 | 0.6 | 0.0025 | 0.00 |
| E50346 | 688510 | 9402972 | 1309 | 1.2 | 0.014 | 0.00 |
1 Copper-equivalent ("CuEq") and Gold-equivalent ("AuEq") based on equal co-recovery of gold and copper using US
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