The company says results from a recent drilling campaign highlight the potential for a robust, near-surface gold system.

The deposit model and history of the camp shows that these narrow but unusually rich vein shoots can extend for up to hundreds of feet.

Liberty Gold recorded the largest one-year per-share growth: up 163.64%.

Panguna has an estimated 5.3 million tones of copper and 19.3 million ounces of gold, which would make the reserves worth about $60 billion at today’s prices.

The La Colorada Skarn deposit hosts an inferred resource of 72.5 million tonnes grading 44 g/t silver, 0.17% copper, 2.02% lead and 4.4% zinc.

Toronto-based Triple Flag, backed by hedge fund Elliot Management, last month said it aimed to raise C$360 million.