11:30 AM EDT, 03/21/2024 (MT Newswires) -- Great Pacific Gold Corp. ( FSXLF ) reported Thursday high-grade gold assays from its initial follow-up diamond drill hole of the Comet gold discovery at the Lauriston gold project in Victoria, Australia.

Results include 4 meters at 25.1 g/t gold from 99.5 meters, including 0.4 meters at 72.5 g/t gold and 1 meter at 55 g/t gold, within a broader interval assaying 9 meters at 11.6 g/t gold.

The company said the high-grade gold mineralization is associated with strong quartz veining with large crystals of arsenopyrite and sulfidic stylolites within the quartz veins.

"The high-grade gold intercept in our first diamond drilling, post the reverse circulation discovery hole at Comet, is a great start to the program," COO and director Rex Motton said.

After hitting 52-week highs yesterday, the company at last look fell 11.0% in early Thursday trading.

Price: 1.13, Change: -0.14, Percent Change: -11.02