Pacgold Limited (ASX: PGO)
Provided an update on IP geophysics data processing and interpretation from the Q4 2022 surveys on the Company’s Alice River Gold Project 300km northwest of Cairns, North Queensland.
IP geophysics has extended the resistivity low ‘corridor’ at the Southern Target by an additional 2km to the SE and defines a compelling target that extends more than 3.8km
|Pacgold||ASX : PGO|
|Market cap||A$24 m @ 36c|
Pacgold IP Geophysics Confirms District-Scale Opportunity, Alice River Gold Project
Pacgold Limited (ASX: PGO) (‘Pacgold’ or the ‘Company’) is pleased to provide an update on IP geophysics data processing and interpretation from the Q4 2022 surveys on the Company’s Alice River Gold Project (‘Project’), 300km northwest of Cairns, North Queensland.
IP geophysics completed in Q4 2022 has extended the resistivity low ‘corridor’ at the Southern Target2 by an additional 2km to the southeast (below shallow sand cover), and now defines a compelling target that extends more than 3.8km.
The Southern Target is located 2km south of the Central Target and is a broad gold
system coincident with IP geophysics (resistivity low), reflecting the system’s alteration and mineralisation character.
.• Significant extensions to the Alice River fault zone and new parallel structures
defined using gradient array Induced Polarisation (IP) geophysics, with multiple new
targets identified along >30km-long corridor.
• IP completed on the Posie and White Lion prospects confirms strong resistivity low
structural corridors closely associated with known gold mineralisation.
o Extensions to the Posie prospect defined over >2km as part of a new structure
parallel to the main Alice River fault zone. Limited historical drilling at Posie
includes results of 4.5m @ 16.6g/t Au and 4m @ 11.5g/t Au1, with no drilling
completed in over 25 years.
o IP geophysics over the White Lion prospect highlights strong resistivity lows
associated with known gold mineralisation defined by limited shallow drilling
completed over 30 years ago and represents the south-eastern extension of the
Alice River fault zone.
• Infill IP geophysics (pole-dipole IP) on the Northern Target identifies several new
priority targets (dilation bends on structures) with strong similarities to the Central
Target high-grade gold discovery.
• Recommencement of resource step-out drilling planned for April 2023 to focus on
Southern and Central Targets, with initial drilling of priority regional targets in Q3
Pacgold Managing Director Tony Schreck said:
“IP geophysics continues to represent one of our most successful exploration tools for identifying regional and prospect-scale gold targets, particularly in areas concealed by shallow sand cover.
“The latest IP survey data demonstrates a compelling, district-scale gold opportunity that extends over 30km and which has been completely overlooked by modern exploration.
“These new prospects (including the priority Southern-Central-Northern Targets) provide a strong pipeline to build on the high-grade discovery success achieved by Pacgold at the Central Target in less than 18 months.”
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email firstname.lastname@example.org
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
At the time of writing the author holds shares in Pacgold.