en.Wedoany.com Reported - South Pacific Metals Corp. (SPMC:TSXV; SPMEF:OCTMKTS) has commenced exploration at its flagship Kili Teke copper-gold project in Papua New Guinea, a timing that coincides with an accelerating global chase for copper and gold.
South Pacific Metals focuses on Papua New Guinea's proven gold and copper belts, with an asset portfolio including the Ontenu (Osena), Anga, Kili Teke, and May River projects. This geographic concentration allows the company to leverage existing infrastructure and regulatory familiarity while prioritizing the advancement of its most mature assets. The recent launch of field work at Kili Teke represents the company's largest catalyst to date. Following formal support from the Hela Provincial Government, the Koroba-Kopiago District, the Awi-Logayu Local Level Government, and local landowners, its subsidiary Kainantu Resources Ltd. is able to execute the exploration program without social license risks.
Key data points for the Kili Teke project include: an inferred mineral resource estimate compliant with National Instrument 43-101 of 237 million tonnes grading 0.24 g/t gold and 0.34% copper, containing 1.81 million ounces of gold, 802,000 tonnes of copper, and 40,000 tonnes of molybdenum. The Central Main Porphyry zone alone contains 4.2 million ounces of gold equivalent. Over US$20 million in historical work has delineated more than a dozen exploration targets, encompassing porphyry, epithermal gold, and skarn types.
Beyond the defined resource, the company has outlined multiple mineralization styles. The Ridge Gold Zone exhibits characteristics of Porgera-style alkaline epithermal gold mineralization, with soil gold grades up to 9.39 g/t and rock chip gold grades up to 9 g/t. Outcrop rock chips at the Ieru porphyry target returned copper grades up to 38.7% and gold grades up to 40 g/t. Historical trenching exposed 27 meters of mineralization grading 0.97% copper and 1.25 g/t gold. A high-grade copper, gold, silver, and zinc skarn target corridor includes historical intercepts such as 7.8 meters grading 12.98% copper and 11.75 g/t gold.
Gold hit a record high in early 2026, trading above US$5,000 per ounce, before retreating on inflation concerns and a stronger U.S. dollar. Copper prices have risen over 10% since the start of the year and over 40% since early 2025, driven by artificial intelligence data center construction, a recovery in Chinese factories, and tightening mine supply. According to Piyush Shukla of The Economic Times, copper futures have broken all records. Long-term demand forecasts suggest that by 2040, strategic sectors such as AI infrastructure and defense could account for nearly 45% of copper consumption. S&P Global notes that gold remains structurally supported, while the World Bank projects a 17% increase in overall metal prices in 2026.
From an investor perspective, Kili Teke holds an inferred resource compliant with National Instrument 43-101. The company has approximately C$4 million to C$5 million in cash following a December financing, with plans to begin drilling high-grade zones in September 2026, while advancing targets near K92 Mining Inc. (KNT:TSX.V; KNTNF:OTCMKTS). Multiple drill results are expected over the summer. The company has a market capitalization of C$28.35 million, with 69.14 million shares outstanding and a 52-week trading range of C$0.31 to C$0.94.
The 2026 work program includes infill soil sampling and rock chip programs to refine alkaline gold targets, ground magnetic surveys targeting near-surface skarns, and follow-up drilling aimed at locking in higher-grade portions of the system.
