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Kainantu Resources Ltd ( (TSE:SPMC) ) has provided an update.
South Pacific Metals Corp has announced the start of its first drilling program at the Ontenu Northeast prospect within the Osena project area in Papua New Guinea. This initiative aims to explore the potential of deeper epithermal gold-copper veins, similar to those mined by K92 Mining Ltd. The program will involve drilling four to six holes, totaling approximately 1500 meters, by the end of the 2025 field season. This marks a significant milestone for the company as it seeks to validate the mineralized structures discovered in previous explorations, potentially enhancing its position in the mining sector and offering promising prospects for stakeholders.
More about Kainantu Resources Ltd
South Pacific Metals Corp is a company operating in the mining industry, focusing on the exploration and development of mineral resources. Its primary products include gold and copper, and it is actively engaged in projects in Papua New Guinea, particularly in the Kainantu Transfer Zone.
Average Trading Volume: 135,707
Technical Sentiment Signal: Buy
Current Market Cap: C$33.71M
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