South Pacific Metals Successfully Completes Warden's Hearing on Renewal of Exploration Licence for Kili Teke Copper-Gold Project

Core Viewpoint - South Pacific Metals Corp. has successfully completed the Warden's Hearing for the renewal of Exploration License EL 2310 for the Kili Teke Copper-Gold Project in Papua New Guinea, which hosts significant inferred mineral resources [2][3]. Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company with a land package of 3,100 km² in Papua New Guinea, focusing on responsible exploration and community engagement [10][12]. - The company is committed to ethical and environmentally sustainable practices in its exploration activities [6]. Project Details - The Kili Teke Project covers an area of 253 km² and is located approximately 40 km west of the Porgera Gold Mine, with an inferred mineral resource of 1.81 million ounces of gold, 802 thousand tonnes of copper, and 40 thousand tonnes of molybdenum [2][4][8]. - The project was acquired from Harmony Gold Exploration Limited in 2023, which had previously conducted extensive exploration, including 36,000 meters of diamond drilling at an estimated cost of US$20 million [4][8]. Exploration and Development - The Warden's Hearing for the renewal of EL 2310 took place on March 11, 2025, with support from local landowners and community stakeholders [3]. - Recent exploration efforts have identified 10 new targets near the Central Porphyry, with various mineralization styles, including bulk-tonnage copper-rich and high-grade skarn targets [5][6]. - The company is currently focused on landowner mapping and community engagement to prioritize high-grade skarn and Porgera-style gold discoveries [6]. Technical Information - The Central Porphyry hosts an inferred mineral resource of 1.81 million ounces of gold, 802 thousand tonnes of copper, and 40 thousand tonnes of molybdenum, with a total of 237 million tonnes at grades of 0.34% copper, 0.24 g/t gold, and 168 ppm molybdenum [2][8]. - Historical drilling has shown high-grade results, including 12.98% copper and 11.75 g/t gold over 7.8 meters [5].