Oceania Project
Fauro Property
Overview
The 100% owned Fauro Property spans 241 km² and hosts a high-potential epithermal gold target, with indications of a large-scale porphyry system at depth, analogous to Newmont’s 71.9 Moz1 Lihir Mine.
The property hosts seven identified prospects, including three drill-ready targets and four new exploration targets, all demonstrating kilometer-scale mineralization. High-grade historical results include a drill intercept of 11m at 4.03 g/t Au and a trench sample of 8m at 27.95 g/t Au2, underscoring the strong potential.
- Newcrest Technical Report, 2020 (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)
- Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012
Location and Infrastructure
Fauro island is part of a group of islands named “Shortland Islands” located in the Western Province of the Solomon Islands, 12 km southeast of Bougainville Island, Papua New Guinea. The property is comprised of multiple small islands of a remnant collapsed caldera ring, the largest being Fauro Island (~120 km2). Access is by helicopter via Helicopter Support out of Taro Island, Choiseul Bay (15 minutes) or by boat from the nearest airstrips in Choiseul Bay ~1 hour. The property benefits from year-round drilling potential and borders the ocean for accessible shipping and transport.
Geology and Mineralization
This Fauro Tenement consisting of multiple islands has been interpreted as a caldera formed by the collapse of the Fauro calc-alkaline volcano, the eastern rim has been almost completely submerged except for the remnants of Masamasa and Piru islands. The tenement is comprised of three main lithologies: basalt, andesite and dacitic porphyry. Other smaller rock units observed around the caldera include fine grained diorites and volcanic breccias.
Evidence of a major hydrothermal system was identified by previous exploration defining 7 prospects on the property. Fauro exhibits strong potential to host a large-scale gold deposit showing similarities in geological setting and mineralization to Lihir Gold mine.
2025 Preliminary Exploration
During the May 2025 site visit, rock samples from the Fauro Property returned high-grade gold and copper assays, including peak values of 19.25 g/t Au and 4.09% Cu. The average gold grade across all sampling was 6.53 g/t Au. Silver values ranged from 6.3 to over 100 g/t Ag and were strongly correlated with gold mineralization. Elevated levels of typical epithermal pathfinder elements were also present, including:
- Arsenic (As): >5,900 ppm in three samples, up to >10,000 ppm
- Lead (Pb): >5,400 ppm in two samples, up to >10,000 ppm
- Zinc (Zn): >6,400 ppm in three samples, up to >10,000 ppm
These results, along with historical exploration and artisanal mining activities, confirm the presence of widespread gold mineralization across the property.
Previous work, including drilling, surface sampling, and geophysics, has identified multiple near-surface epithermal-style gold systems with potential for a deeper porphyry source. The Kiovakase target in particular returned strong surface Au and Cu mineralization during the May sampling campaign.
A phased exploration program will begin in late 2025, starting with systematic surface sampling to verify historical data. Follow-up geophysical surveys may be conducted to identify subsurface features consistent with epithermal and porphyry systems. The results will inform a focused drill program aimed at confirming historical intercepts and testing for extensions at depth and along strike.
High Grade Historical Sampling
| ZONE | HISTORICAL SAMPLING |
|---|---|
| Meriguna | Drilling: 35m of 2.08 g/t Au 14m of 2.19 g/t Au Trench sample: 8m of 27.85 g/t Au 14m of 8.94 g/t Au Grab Sample: up to 173.0 g/t Au |
| Ballyloro | Drilling: 11m of 4.03 g/t Au |
| Kiovaske | Grab sample: up to 169 g/t Au Trench sample: 18m of 1.42 g/t Au |
Maps & Figures
Image Gallery
