ARAWA, Papua New Guinea – Island Passage Exploration Limited (IPX) and its customary landowner company partner, Isina Resource Holdings Limited (IRHL), have submitted an annual report to the Autonomous Bougainville Government (ABG) detailing advancements at the EL02 license during 2025. The partners continue to operate a large-scale copper-gold exploration program across the 250-square-kilometer license in Central Bougainville, Papua New Guinea.
Significant Technical Progress
The 2025 field campaign, the second full year of property-wide exploration at EL02, resulted in substantial de-risking of the project by confirming the presence of both large-scale porphyry-type and high-grade epithermal hydrothermal systems. These results provide a solid foundation for the next phase of exploration, focusing on systematic target definition and advancement toward drilling.
Key Exploration Highlights
- The Bara-Tangka prospect is a large-scale copper-gold-molybdenum target defined by strong coincident soil anomalies over approximately 4 square kilometers. Numerous rock chip channel samples exceeded 1.0% copper, 0.1% molybdenum, and 1.0 g/t gold. One continuous channel included 55 meters of 0.56% copper and 0.61 g/t gold.
- Between Isina and Kanabete, in the southeastern part of the license, the Takina vein complex hosts variably mineralized structures spanning almost 9 kilometers near the margin of the Isina Pluton. These showings include many quartz-adularia sulfide veins containing more than 3 g/t gold, 10 g/t silver, and 0.5% copper. Highlights include 7.0 meters at 64.03 g/t gold and 1.55% copper; 6.0 meters at 20.98 g/t gold and 1.2% copper; and 3.0 meters at 6.73 g/t gold.
- More distal from the intrusive complex, newly discovered vein systems formed in a lower temperature environment with gold- and silver-bearing quartz-carbonate-sulfide veins.
Community Development Investments
Island Passage continues its policy of investing 5% of exploration expenditures into community development projects, heavily weighted toward education, health and welfare, and locally owned small businesses. Selected highlights of significant community projects in 2024, 2025, and 2026 include:
- Building supplies and airlift for two new classrooms at Isina Primary School.
- Building supplies and airlift for a modern teacher’s house at Isina Village.
- Airlift of construction materials for a new seismic monitoring station at Mt. Baganda, in cooperation with the ABG and Australia DFAT.
- Cash donations of over PGK 37,000 to at least 15 schools within EL02.
- Scoping studies and planning for four village-based chicken and egg farms in cooperation with Kyeema Foundation.
The IRHL and IPX teams also assisted victims of Cyclone Maila with food and aid distribution, access repair, and transport.
Management Commentary
Glyn Tovirika, CEO of IRHL, commented on the year’s accomplishments and the ongoing exploration program: “IRHL has seen significant changes over the last two years. Critics had said that the parties would not be successful and they would not survive the environment created by the Bougainville crisis. We have proven them wrong and we are standing with our partner IPX and have set out to message that Bougainville is safe and ready for exploration and hopefully development work. At EL02, the partners are training youth and proving that exploration can be environmentally friendly. We appreciate the expenditures being made by IPX as it is having a great impact in our communities. We appreciate the community investments which will have long-lasting impacts. Over the last two years, we have seen many landowners now beginning to welcome exploration. There are of course ongoing challenges which we will address through ongoing awareness programs and consultations. As the CEO of IRHL, I strongly believe this project will soon advance into a development stage and we will continue to appreciate the support of the shareholders.”
