Projects
Targeting K92-Style Lode-Gold Vein Mineralisation – Immediately Northeast
of K92 Mining’s Arakompa-Maniape Vein Systems
461km²
Land Package in the Eastern Highlands District, PNG
3km
Along strike from K92’s active Arakompa drill program
281.8g/t Au
Visible gold in Golkona South pan-concentrate samples
3.68g/t Au
Rock chips at surface at the Irinke prospect
Overview
The Anga Project may be the most strategically positioned early-stage gold-copper exploration asset in Papua New Guinea. Covering 461 km² of contiguous exploration licences in the Kainantu District of the Eastern Highlands Province, it is located immediately northeast of K92 Mining’s operating Kainantu Gold Mine.
The thesis is straightforward: the same geological architecture that makes K92’s adjacent ground so productive continues directly onto SPMC’s Anga licence area. The Kainantu Transfer Zone (KTZ)—the regional NE-trending structural corridor that hosts K92’s Kora, Judd, and Arakompa gold-copper vein systems—extends into Anga, where K92’s Arakompa drill program is active just 4 km from Anga’s project boundary.
The project area encompasses several distinct prospect areas at varying stages of exploration maturity. The most advanced are the Irinke and Golkona/Golkona South prospects, with additional targets including Binano. More than two-thirds of the project remains unexplored.
Highlights
Irinke and Golkona prospects lie within the same NE and NW trending structural corridors that host K92’s Au-Ag-Cu veins and porphyry systems, with Irinke located just ~3 km from K92’s active Arakompa discovery.
Coincident gold-in-soil and geophysical anomalies up to 4 × 3 km indicate a large, intact mineralized system rather than an isolated showing, signaling meaningful discovery potential across multiple targets.
Over two-thirds of the 461 km² (100%-owned) project remains unexplored, representing an expansive early-stage land position directly adjacent to a world-class producing mine.
Investment case
Right on K92’s doorstep. 461 km² (100%-owned) immediately northeast of and contiguous with K92 Mining’s producing Kainantu Gold Mine. Anga’s prospects sit on the same northeast-trending structural corridor as K92’s gold-silver-copper veins, roughly 3 km along strike from K92’s active Arakompa drill program.
A district-scale target at Golkona. A 4 × 3 km coincident gold-and-geophysical anomaly (including Golkona South), with interpreted demagnetised structural zones striking from K92’s bordering ground.
Strong soil geochemistry. A 2.2 × 1.1 km gold-in-soil anomaly at Golkona South returning up to 1,080 ppb Au, 3,397 ppm Cu and 2,160 ppb Ag.
Visible gold in stream sediment. Golkona South pan-concentrate samples up to 281.8 g/t Au | 79.1 g/t Au | 51.6 g/t Au.
High-grade rock at surface. Rock chips up to 3.68 g/t Au at the Irinke prospect, plus a copper-mineralised intrusive at Binano (0.27% Cu) carrying the Au-Bi-Te-Cu pathfinder signature that fingerprints K92’s Kora-Judd vein model.
A drill-ready geophysical anomaly. Mobile MT surveying has outlined a Kora-Judd-style chargeability/conductivity feature at Golkona, coincident with the gold-in-soil anomaly.
Newly identified sulphide-bearing shear zone at Irinke. Irinke offers an Arakompa-like 2 km-wide corridor and a newly exposed sulphide-bearing shear zone (17 m × 2 m); completed surface programs have sharpened the target pipeline.
Infrastructure already in place. Close to established road access, supporting efficient exploration and future development activities.
Prospects
Anga’s southwestern boundary sits only about 3 km along strike from K92’s Arakompa lode-gold discovery, and its prospects line up along the same northeast-trending structural corridor that hosts K92’s gold-silver-copper veins and porphyry systems. With over two-thirds of the project still unexplored, Anga is an early-stage, district-scale discovery opportunity next door to a world-class mine.
Irinke sitting just ~1,500 m east of K92’s processing plant and ~3 km along strike from Arakompa, it is hosted in the same metasediments-intruded-by-diorite setting as K92’s mine, with comparable alteration and structure on geophysics.
Surface sampling and mapping have defined a 2 km-wide northeast-trending corridor with rock chips up to 3.68 g/t Au, a confirmed Arakompa-like geochemical signature, and a cluster of priority gold targets across a broad 4 × 4 km area.
The Irinke prospect lies to the NE along strike from K92’s lode-gold mineralised Maniape and Arakompa veins, with similar host rocks, coincident Au-Te-Bi soil anomalies, and a strong gold-in-rock signature. The geophysical alteration and structural setting are consistent with an intact, high-level gold system.
Best surface results to date: Rock chip up to 3.68 g/t Au & 1,292 ppm Cu; 2022 vein 2.28 g/t Au, 9.4 g/t Ag; soil anomaly approximately 1,000 × 300 m.
Best surface results to date: 2.2 × 1.1 km Au-in-soil anomaly, peak 1,080 ppb Au (project high); peak 3,397 ppm Cu, 2,160 ppb Ag; stream pan concentrate up to 282 ppm Au
Golkona South is Anga’s newest discovery (October 2025) and its strongest soil story to date. Sitting on the same northeast structural trend as K92’s Arakompa deposit, to which it points directly along strike, Golkona South and the adjacent Golkona prospect form the eastern extension of the Irinke corridor. Together they combine the highest gold-in-soil values yet reported on Anga with high copper and silver, visible gold in streams, and a coincident geophysical signature that the company interprets as porphyry potential at accessible drill depth.
The high-priority Golkona Prospect is defined by a compelling convergence of geophysical, geochemical, and structural evidence for a buried magmatic source at accessible drill depth—a mineralisation style analogous to K92’s Kora-Judd system.
Figure 1. Golkona to Golkona South target areas showing Cu-As-Ag soil anomalies and Au stream sediment (pan concentrate) results.
Best surface results to date: Rock float 0.27% Cu; coincident Au-pathfinder soil anomaly ~700 × 300 m; Arakompa-orientation structures
Binano sits less than 1,500 m from K92’s processing plant and about 1.5 km east of Irinke, among the closest of any SPMC target to K92’s infrastructure. A soil grid has defined a coincident gold-and-pathfinder anomaly of roughly 700 × 300 m, with structural fabrics oriented like Arakompa’s. The Irinke-to-Binano corridor runs through a valley floor with little outcrop, so the two prospects may connect and further blind targets may lie under shallow cover. A related target, Binano North, sits ~1 km east of Irinke.
Approximately 1.5 km east of Irinke, the Binano area first returned a rock-float sample of 0.27% Cu from a quartz-veined intrusive with disseminated pyrite-chalcopyrite. Follow-up soil sampling has since defined a coincident gold and pathfinder anomaly over 700 × 300 m.
Similar to Irinke, Binano contains structural fabrics with a similar orientation to Arakompa. The area between Irinke and Binano is covered by a valley floor with minimal outcrop, suggesting the prospects may be connected or that additional undiscovered anomalies and targets remain concealed beneath shallow cover.
Located roughly 1 km east of Irinke, Binano North’s mapped metasediments and intrusives, strong pathfinder-element anomalies and visible hydrothermal alteration point to a further, untapped mineralised system.
Exploration
Since acquiring the projects, SPMC has advanced exploration through systematic field programs:
Key historical data includes:
Geology
SPMC’s Osena Project bookends K92’s mine to the southwest, while the Anga Project bookends it to the northeast. K92 sits in the middle as a producing operation, reflecting the structural continuity of the Kainantu Transfer Zone extending well beyond K92’s current mine footprint. SPMC controls both ends of this highly prospective corridor.
K92’s own Arakompa discovery, located on the northeastern margin of their licence area, is trending directly toward SPMC’s Anga boundary. K92’s Arakompa drill program is currently active just 4 km from Anga’s project boundary and only 3 km along strike from the Arakompa vein system. The logical question: what does the same system look like when you follow it northeast onto SPMC’s ground? is the core investment proposition of the Anga Project.
| Deposit / Project | Style | Au Grade / Scale | Distance from Anga |
|---|---|---|---|
| K92 Kainantu (Kora-Judd) | Epithermal Au-Cu Veins | ~7 g/t Au mine grade | Adjacent / Contiguous |
| K92 Arakompa | Epithermal Au-Cu Veins | Active drilling | 4 km from boundary |
| K92 Maniape | Epithermal + Skarn | Active exploration | ~3 km along strike |
| Wafi-Golpu (Harmony/Newmont) | Porphyry + High-Sulphidation Epithermal | 28.6 Moz Au, 9.0 Mt Cu | ~100 km regional analogue |
| SPMC Anga (Golkona, Irinke) | Porphyry + Epithermal Veins | Exploration / Pre-resource | On-licence |
Regional setting
The area is characterised by the presence of the Elandora and Akuna intrusives—igneous rocks associated with copper and gold mineralisation. The project benefits from extensive historical and modern datasets, which are being reinterpreted using modern mineral systems approaches aligned with exploration models relevant to the region.
To understand the Anga Project, one must first understand the Kainantu Transfer Zone. This major arc-transverse structural corridor runs through the heart of the Eastern Highlands Province and is one of the most productive gold-copper corridors in the Asia-Pacific region.
The Transfer Zone sits at the intersection of NW-SE arc-parallel first-order strike-slip fault systems and NNE-SSW transfer structures—the exact tectonic geometry that focuses magmatic-hydrothermal fluid flow and produces high-grade gold and copper deposits.
K92 Mining’s Kainantu Gold Mine sits at the heart of this corridor. These high-grade epithermal Au-Cu veins occupy NW-trending dilational structures within the Transfer Zone architecture, the same structural family identified by SPMC within the Anga licence area to the northeast.
The Ramu-Markham Fault Zone, a major terrane-bounding suture trending NW, forms the northeastern boundary of the Kainantu mineralised corridor. SPMC’s Anga Project lies in close proximity to this major structure, within the zone of enhanced permeability and high heat flow that characterises the most productive portions of the Papua New Guinea Thrust Belt (PNGTB). Anga lies within the same arc-parallel, high-fertility structural corridor responsible for multiple world-class deposits across the belt.
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