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Kainantu Resources Ltd ( (TSE:SPMC) ) has provided an update.
South Pacific Metals Corp has announced new mineralized structures at the Ontenu NE prospect within its Osena Project, located in the Kainantu Transfer Zone. The discovery includes several high-grade gold and silver assays, expanding the previously reported zone. The company is actively mapping and sampling these structures, with drill planning underway to test the targets. This development could potentially enhance SPMC’s exploration profile and strengthen its position within the competitive gold-copper mining industry.
More about Kainantu Resources Ltd
South Pacific Metals Corp is an emerging gold-copper exploration company operating in Papua New Guinea’s gold and copper production corridors. The company manages a substantial 3,100 km² land package with four key projects: Anga, Osena, Kili Teke, and May River, which are contiguous with major producers like K92 Mining, PanAust, and Barrick/Zijin. Their exploration efforts focus on discovering high-grade lode-gold and porphyry copper-gold mineralization within the Kainantu Gold District.
Average Trading Volume: 125,105
Technical Sentiment Signal: Buy
Current Market Cap: C$38.89M
Learn more about SPMC stock on TipRanks’ Stock Analysis page.