Explorer Uncovers 4.2M Oz Gold-Copper System at Papua New Guinea Property

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

On June 25, 2026, South Pacific Metals Corp. (SPMC:TSXV; SPMEF:OCTMKTS) announced the commencement of exploration at its Kili Teke copper-gold project in Papua New Guinea. After securing the support of the community and local landowners, the Hela provincial government, the Koroba-Kopiago District, and the Awi-Logayu local-level government, South Pacific Metals' subsidiary, Kainantu Resources Ltd., is prepared to begin working on the property.

The company presented project highlights as:

• A National Instrument 43-101 inferred mineral resource of 237 million tonnes grading 0.24 gram per tonne gold (Au) and 0.34% copper (Cu), containing 1.81 million ounces gold, 802,000 tonnes copper, and 40,000 tonnes molybdenum for 4.2 million ounces gold equivalent, defined on the Central Main Porphyry (CMP) alone;
• The resource sits within just one of the four prospect areas. The remaining three: the Ieru porphyry, the Ridge gold area, and the skarn corridor, together with the deeper, higher-grade parts of the resource system, remain largely untested;
• Beyond the resource, South Pacific Metals has defined over 10 exploration targets across three distinct mineralized styles:
• A Porgera-style alkalic epithermal gold target: the Ridge gold area (RGA) with a gold-tellurium-arsenic signature distinct from the resource porphyry's copper/gold/molybdenum; soils up to 9.39 g/t Au; rock chips to nine g/t Au, 7.4 g/t silver (Ag), and 1.5% Cu;
• A separately modeled intrusive complex, the copper-gold Ieru porphyry (IP): surface rock chips up to 38.7% Cu and 40 g/t Au; historic trenching of 27 meters at 0.97% Cu and 1.25 g/t Au;
• A corridor of high-grade copper/gold/silver/zinc skarn targets, each largely untested; historical drilling returned 7.8 m at 12.98% Cu and 11.75 g/t Au, outside the current resource;
• A machine-learning targeting study with ALS Geoanalytics ranked 14 drill targets, classifying six of them Rank 1, including a high-priority deep porphyry target beneath the CMP and a series of targets on the resource margins, where the system remains open;
• The project has been formally endorsed by the Office of the Honourable Philip Undialu, Governor of Hela Province, the Hela Provincial Administration, the Koroba-Kopiago District, and the local-level government, with provincial and district leaders confirming the local Kili Teke community is eager for work to begin.

In the release, Michael Murphy, Executive Chairman of South Pacific, said: "Kili Teke is rare for an explorer of our size. A district-scale system with a 4.2-million-ounce resource and more than US$20 million of past work behind it, yet with three of its four prospect areas barely drilled. The high-grade results are already on the board, from high-grade skarn intercepts to multigram gold in soils. Our job is to follow the data, stage by stage, back to the productive heart of this system, and we are doing so with the full support of the landowners and the Hela provincial government, to whom we are deeply grateful."

South Pacific is a gold-copper exploration company focused on exploration and development of properties within Papua New Guinea's proven gold and copper production corridors. The company's properties include Ontenu (Osena), Anga, Kili Teke, and May River.

Gold and Copper Markets Weathering an Uncertain Market

In January 2026, gold surged to a record high, hitting over US$5,000 per ounce, but has recently fallen due to a rise in inflation and a stronger U.S. dollar. Still, investors aren't shying away. On June 29, 2026, Chen Lin of What is Chen Buying? What is Chen Selling? was optimistic about gold miners and their stocks, saying, "Gold showed a good bounce from below US$4,000 last week. I am encouraged by this and plan to watch closely during the summer months. My plan is still buying liquid big miners in late summer or September. Juniors, however, there are a lot of interesting opportunities that are worth buying." 

In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."

Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Almost immune to market uncertainty, copper prices are continuing to boom due to industrial demand and the rise of AI data centers. On May 12, 2026, Piyush Shukla of The Economic Times wrote that, "Copper prices are soaring aggressively in 2026 as copper futures smash record highs above US$14,000 per ton. The rally is no longer only about manufacturing demand. AI data center construction is now driving a massive global copper rush. China's factory recovery, Middle East sulfuric acid shortages, and tightening mine supply are deepening the global copper crunch." So far, copper prices have risen more than 10% since the start of the year, and over 40% since the beginning of 2025.

Demand for copper is expected to rise due to continued use in electronics, especially with the widespread construction of new data centers and defense needs America is experiencing. A report from Businessworld claimed that "global copper demand is gradually shifting towards strategic and less price-sensitive sectors such as AI infrastructure, defense, power grids, and clean energy systems. By 2040, these categories are expected to account for nearly 45% of total copper demand, up from 32% in 2024."

Copper has experienced some volatility this year. While a bull market for traders, physical products are trending toward a bear market due to potential tariffs. Last year, the looming potential of President Donald Trump's tariffs surged copper prices in the U.S. as American investors stockpiled the metal.

This hype created an overstocking of copper, widening the gap between futures and physical worth. "Collectively, inventories at the world's main exchanges have risen by more than 500,000 tons since the start of the year," stated a March 6 article by Bloomberg News. The imagined certainty of inaccessible copper due to tariffs evaporated, however, when premiums for U.S. copper futures disappeared, and the tariffs did not materialize. Trump may choose to impose tariffs next year, but analysts and investors are skeptical since his administration chose to forego them in January 2026.

Copper futures rested at US$6.17 per pound on July 1, 2026. Industry data showed that global shipments of copper concentrate have risen since April, pointing to ample raw material availability." Still, copper prices are unlikely to fall dramatically, even if a resolution is found. China's output fell by 3% in April 2026, and tariff expenses are keeping the stock price high.

Expert Sees Stock as "Very Undervalued"

Chen Lin of What is Chen Buying? What is Chen Selling? wrote about South Pacific on June 29, 2026, saying: "SPMC.v has issued the biggest news in its history. It has received the social license of the Kili Teke project. It has a 43-101 showing 4.2 million ounces of gold equivalent, 802 million tons 0.24g/t gold, and 0.34% copper. It reminded me of AURO.v, while its market cap is only about 1/7-1/8 of AURO. I view this as very undervalued! They have 4-5 million cash now, thanks to a timely raise last December. They are planning to start drilling the high-grade area of Kili in September. In the meantime, they are drilling close to their concession close to K92 Mining Inc. (KNT:TSX.V; KNTNF:OTCMKTS). We should have a lot of drilling results during the summer."

Next Steps for Kili Teke

The company's investor presentation lists potential work in 2026 for the Kili Teke project as close-spaced soils and patting to pin down Alkali gold targets, a ground magnetics survey to look for near-surface skarns, and potential drilling depending on the results.

Ownership & Share Information¹

South Pacific Metals Corp. has a market cap of CA$28.35 million, with 69.14 million shares outstanding. The company's 52-week range is CA$0.31-CA$0.94.

Institutions own 9.16% of shares, while Management & Insiders own 8.50%. The remaining 82.34% of shares are held by Retail.