South Pacific Metals Adds Second Drill Rig to Speed Ontenu Exploration in PNG

An update from Kainantu Resources Ltd ( (TSE:SPMC) ) is now available.

South Pacific Metals Corp., a gold-copper explorer in Papua New Guinea with projects surrounding K92 Mining’s Kainantu operations and near the Porgera Mine, is pursuing discovery-focused drilling across a large land package. Its Anga and Osena projects adjoin high-grade gold corridors, while Kili Teke already hosts an inferred mineral resource with room for expansion.

The company has added a second drill rig to accelerate testing at the Ontenu Project within the Osena Project, near K92’s Kainantu Gold Mine in the Kainantu District. The new rig will initially target the high-grade Onki Fault area at Ontenu NE, supporting a 5,000-metre 2026 drilling campaign over multiple copper-gold structures, underscoring SPMC’s push to rapidly evaluate epithermal prospects in a highly prospective regional corridor.

More about Kainantu Resources Ltd

South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea’s established gold and copper belts. The company controls roughly 3,100 km² across four projects—Anga, Osena, Kili Teke and May River—adjacent to major producers including K92 Mining, PanAust and Barrick/Zijin, and is focused on rigorous, field-driven exploration to advance lode-gold and porphyry copper-gold targets.

Average Trading Volume: 102,360

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$32.15M

See more insights into SPMC stock on TipRanks’ Stock Analysis page.