Pacgold nails opening salvo in 2025 Queenland | Australian Markets

Pacgold has launched its 2025 drilling season with a flurry of shallow high-grade hits that stretch throughout half a kilometre at its Central Target in Northern Queensland, delivering a standout 48 metres at 2.1 grams per tonne (g/t) gold from simply 76m downhole. The headline hit contains a 2m core going a critical 29g/t gold. The end result was the choose of a 19-hole batch of drilling from a broader 10,000m reverse circulation program now underway on the company’s 100 per cent-owned Alice River gold project, west of Cooktown in Queensland.

Another 50m hit additional to the south got here in at 1g/t gold proper from floor. To the north, a additional 26m hit going 1.1 g/t gold included an 11m part grading 1.6 g/t gold from simply 47m. The three drill hits stretch about 100m throughout the mineralised zone.

Further strong hits to the north take the entire strike size of the mineralisation in the rapid space to an spectacular half a kilometre – setting the scene for a vital proposed open pit.

About 100m north of the 26m hit, a 13m intersection going 2 g/t gold from 51m stretched the mineralised zone even additional. Some 300m north of that hit, an 18m intersection grading 1.1 g/t gold very close to floor additionally contains 3m at 3.4 g/t.

All the intercepts help to strengthen the Central Target’s shallow bulk-tonnage potential.

The reported holes had been drilled within Pacgold’s not too long ago declared mineral useful resource footprint and intention to strengthen confidence in areas beforehand outlined by historic drilling, a lot of which couldn’t be included in the present JORC useful resource as a consequence of regulatory limitations.

The first drill holes in the 2025 drilling program from the Central Target space proceed to show each the shallow bulk tonnage and high-grade potential of the Alice River gold project. We are making glorious progress this yr with drilling beginning in April and we are actually totally funded to proceed via your complete drill season till late December.

The company’s broader 2025 exploration marketing campaign is backed by a latest $5.6 million capital raise that topped up its conflict chest to more than $6.5M. That money will bankroll a three-pronged program that features diamond and air core drilling alongside induced polarisation surveys throughout regional targets.

And there’s loads to keep an eye on. Pacgold is now drilling on the Posie and Shadows prospects and can quickly transfer on to Victoria and Jerry Dodds, which all lie alongside the identical 30km Alice River Fault hall now recognised to host a 12km-long gold-arsenic-antimony geochemical anomaly.

One of the more intriguing regional targets is White Lion, a doughnut-shaped magnetic anomaly with coincident IP and radiometric highs and a non-magnetic core in a construction reminiscent of Newmont’s now-exhausted 5-million-ounce Mt Leyshon deposit. Drilling at White Lion is slated for later this yr, following ongoing geophysical work.

Back at Central, the mineralisation stays open in all instructions, and early reverse circulation drilling is already filling in gaps within the present pit shell model, whereas additionally nudging into extensions not but captured in the useful resource. Pacgold’s present open pit useful resource estimate contains 404,000 ounces at 1.2g/t gold, nonetheless, the project’s international gold stock swells to 854,000 ounces at virtually 1 g/t gold.

With more than half of the ten,000m drill program nonetheless to go – and assays from the Southern Target pending – the company is likely to be limbering up for a critical useful resource enlargement push in the second half of the yr. With deeper hits, equivalent to 19m at 8 g/t gold nearer to the 200m mark, this sediment seems to have each depth and breadth.