Overview

The Nevera High-Grade Zone (HGZ) Gold Project is an exploration-stage gold project located about 50 km southwest of Goroka in the Eastern Highlands Province of Papua New Guinea. It targets a network of shallow high-sulphidation epithermal gold-quartz-pyrite veins hosted in the Crater Mountain volcanic complex. Key exploration results to date have defined an inferred resource (JORC 2012 compliant) characterized by two cut-off grade scenarios: approximately 72,600 tonnes at an average grade of 8.9 g/t Au (using a >3.0 g/t Au cut-off), and within that a higher-grade core of 44,500 tonnes at 11.9 g/t Au (using a >5.0 g/t cut-off), containing an estimated 17,100 ounces of gold. These figures reflect the presence of very high-grade mineralization in narrow veins and breccia zones at relatively shallow depths (veins encountered from 30 m to 150 m below surface). Historical exploration includes underground development on two levels (at 1960m and 1980m RL elevations) with access adits and cross-cuts that have exposed several gold-bearing veins. Surface and underground channel sampling, as well as diamond drilling, have confirmed the continuity of these structures and their grades, though the deposit remains open along strike and at depth.

On-site infrastructure established by previous operators includes a field camp with a site office and accommodation built in 2016, as well as maintained access trails, drill pads, and the aforementioned exploration adits. The project’s exploration license (EL1115) is currently under renewal application, and all work to date has adhered to modern reporting standards. Moving forward, the focus is on extensional drilling from the existing underground workings to target down-plunge extensions of the high-grade veins (notably veins labeled N1 and L1), along with infill drilling to improve resource confidence and delineate additional ounces in the inferred resource. Further channel sampling in underground drives is planned to refine the understanding of vein geometry and grade distribution. The ultimate goal of the upcoming work programs is to upgrade the resource classification and gather data for economic feasibility assessments, capitalizing on the project’s location in a historically gold-rich region of PNG. With the right investment and technical support, the Nevera HGZ project has the potential to evolve from a small high-grade resource into a larger economic deposit through systematic exploration.