Augustus Minerals Ltd is preparing exploration programmes for two gold projects in Papua New Guinea, having compiled historical geological data and stepped up engagement with landowners while awaiting decisions on its exploration licenceapplications.
The Australian Securities Exchange-listed company said in a 15 October 2026 announcement that its subsidiary, ACM Contract Mining (PNG) Ltd, had completed a technical information memorandum for the Mt Kare gold and silver project in EngaProvince. It is also reviewing historical exploration records for the Vanapa River project in Central Province and considering an airborne magnetic survey.
Both projects remain at the application stage. The company has no guarantee of securing either licence, and its Mt Kare application remains contested.
Augustus holds the second-in-time exploration licence application for Mt Kare, about 15 kilometres from the Porgera gold mine. Private company Tribune Mt Kare Gold Ltd is first in line after the PNG Mineral Resources Authority removed the original first applicant, Global Mining Group Ltd, from the assessment list following a Supreme Court order on 30 May 2025.
The company said the licensing process could take time but maintained that its preparatory work would allow it to move quickly if approval were granted.
Mt Kare data review completed
ACM PNG purchased all available open-file historical exploration data for Mt Kare from the MRA in 2026 and commissioned Geosyntec Consultants Pty Ltd, based in Perth, Western Australia, to compile the information into a technical memorandum.
The review covers geological information and exploration activities dating back to the deposit's discovery in 1987 by Conzinc Riotinto of Australia. It examines the area's geology, geochemistry, mineralisation styles and historical mineral resource estimates.
The deposit has undergone substantial previous exploration. Drilling included an initial 2,000-metre diamond drilling programme in 2011, followed by further work that produced 58 diamond drill holes totalling 7,790 metres. Results released in 2013 validated historical high-grade intersections and identified gold and silver mineralisation, according to Augustus.
The company plans to use the compiled information to prepare for further exploration, subject to the grant of the licence.
Its proposed programme includes underground access and development, diamond drilling and feasibility studies. The company has also outlined the possibility of collecting bulk samples and assessing underground mining options, alongside further consideration of open-pit scenarios.
Augustus Executive Chairman Brian Rodan said Mt Kare shared geological characteristics with Porgera, including roscoelite mineralisation and high-grade gold zones.
However, the company cautioned that its position in the application process does not give it a current or contingent right to undertake exploration or development at Mt Kare. The application has not been granted, and there is no assurance that it will result in a licence.
Vanapa River project covers 1,900 square kilometres
At Vanapa River, ACM PNG holds exploration licence application ELA2955 over approximately 1,900 square kilometres in the Kira Koiari District of Central Province, about 35 kilometres from Port Moresby.
The project lies approximately 40 kilometres south-east along strike from the Tolukumagold mine, which Augustus identifies as a 1.5-million-ounce deposit.
During a three-day site visit in October 2025, company personnel and local landowners inspected artisanal alluvial gold workings along the Vanapa River and its tributaries. The visit did not identify the source of the alluvial gold, the company said.
ACM PNG subsequently acquired available historical exploration data held by the MRA in Port Moresby and is reviewing the records. It is also seeking proposals for an airborne magnetic survey.
The proposed survey would help map geological structures, rock types and alteration beneath the area's thick tropical forest. These features could guide the identification of targets for further exploration, although the company has yet to report results from such a survey.
Augustus said the Vanapa River application lies within the New Guinea Metallogenic Belt, a mineralised corridor extending approximately 2,300 kilometres through Papua New Guinea. The belt hosts major gold and copper deposits, including Porgera, Lihir, Hidden Valley, Kainantu and Wafi-Golpu.
The company has also conducted introductory meetings with communities in the application area as it seeks to build relationships with customary landowners.
Landowner engagement and regional prospects
ACM PNG has held meetings with landowner representatives and officials from Enga, Hela and Central provinces during 2025 and 2026, according to the announcement.
The company said these discussions were intended to maintain communication with groups whose support and engagement are important to the progression of exploration licence applications in Papua New Guinea.
In September 2026, ACM PNG provided equipment, materials, food and other supplies to customary landowners seeking to re-establish a settlement at Mt Kare. The assistance followed a request from landowners and consultations with clan leaders, Augustus said.
The subsidiary has also registered an expression of interest with the MRA covering prospective areas in the Goroka region of the Highlands. It has held preliminary meetings with local landowner groups and continued engagement with officials and clan representatives.
Augustus said the acquisition of ACM PNG had strengthened its opportunity to pursue Mt Kare and identify other exploration prospects in Papua New Guinea.
The company is also exploring gold, copper and other mineral opportunities in Western Australia. Its Papua New Guinea strategy, however, remains dependent on the outcome of the licence applications and any subsequent exploration results.
Augustus said its work to compile historical data and engage with landowners had positioned it to advance the projects if the necessary approvals were secured. Neither the timing nor the outcome of the applications is certain.
