Pacgold (ASX: PGO)
Announced the results of the maiden drilling programme designed to test coincident geophysical anomalies and the extent of surface gold mineralisation at the White Lion prospect, along with results from drilling on the Jerry Dodds lode structure.
Both Prospects are located at the Company’s 100% owned Alice River Gold Project.
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Project map – Credits Pacgold
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| Pacgold | ASX : PGO | |
| Stage | Exploration | |
| Metals | Gold | |
| Market cap | A$18.66 m @A$ 6.6c | |
| Location | Queensland, Australia | |
| Website | www.pacgold.com.au/ |
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Pacgold White Lion Drilling Intersects Gold Mineralisation
Further exploration warranted in 2026 field season
Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce the results of the maiden drilling programme designed to test coincident geophysical anomalies and the extent of surface gold mineralisation at the White Lion prospect, along with results from drilling on the Jerry Dodds lode structure.
Both Prospects are located at the Company’s 100% owned Alice River Gold Project (‘the Project’), 300km northwest of Cairns, North Queensland.
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HIGHLIGHTS
WHITE LION MAIDEN DRILLING PROGRAMME COMPLETED – Reverse Circulation (RC) drilling of the coexistent geophysical IP and Magnetics targets at White Lion has been completed, intersecting encouraging gold mineralisation associated with the Alice River Fault Zone.
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JERRY DODDS DRILLING EXTENDS MINERALISED STRUCTURE – Wide-spaced RC drilling has extended the shallow gold mineralisation on the Jerry Dodds lode structure a further 1.4km along strike, for a total of 1.8km of identified mineralisation, open in all directions.
The principal target at White Lion was a large high intensity IP chargeability anomaly coincident with a previously delineated shallow bullseye magnetic anomaly1,2.
Four holes were completed to varying depths on the geophysical targets, all intersecting metasediments containing common pyrite and minor pyrrhotite, minor diorite
intrusive, and limited quartz veining and alteration. Initial interpretation of the geology indicates the geophysical anomalies are a result of the sulphide-bearing stratigraphy.
Three drillholes were also completed to test the mineralised section of the Alice River Fault Zone (ARFZ) at White Lion, where previous rock chip sampling returned strong gold mineralisation in surface quartz veining and altered fault breccia over strike length of 250m, and historical drilling intersected low level gold mineralisation in shallow
airtrak drillholes.
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Two drillholes in the current program returned encouraging gold mineralisation, indicating potential for further exploration along strike in both directions, and at depth. Results include:
8m @ 0.6g/t Au from 44m incl. 2m @ 2.1g/t Au from 50m (WLDH003)
15m @ 0.2g/t Au from 148m (WLD004)
At Jerry Dodds eight RC drillholes were completed on 4 sections spaced at 400m to test 1.2km of mineralised lode outcrop along strike to the SE of drilling completed by Pacgold on the prospect in 2023.
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Pacgold’s Managing Director, Matthew Boyes, commented:
“The maiden drilling program at White Lion has delivered an encouraging first look at the gold potential associated with the Alice River Fault Zone, with mineralised intercepts confirming the presence of gold that warrants further exploration in 2026.
“The extension of the Jerry Dodds lode by an additional 1.4 kilometres along strike is particularly pleasing and highlights the broader scale of mineralisation emerging across the Alice River Gold Project.
“With these results, we are building a strong foundation for continued discovery at both the Alice River Gold and St George Gold-Antimony Projects in Queensland, while concurrently advancing our Phase 1 production restart at the White Dam Project in South Australia.
“Pacgold remains well-positioned to deliver value through a balanced strategy of exploration growth and near-term production opportunities.”
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Pacgold
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