Pacgold Reports High-Grade Gold in White Dam Drilling Results
Pacgold (ASX: PGO)
Announced positive high-grade gold results of the drilling programme designed to expand and upgrade the JORC 2012 Mineral Resource Estimate published in 2020 on the Company’s 100% owned White Dam Gold Project, 80km east of Broken Hill in South Australia.
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White Dam project photos – Courtesy of Pacgold Ltd.
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| Pacgold | ASX : PGO | |
| Stage | Exploration | |
| Metals | Gold | |
| Market cap | A$63m @A$ 0.15 | |
| Location | Queensland, Australia | |
| Website | www.pacgold.com.au |
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Pacgold Reports High-Grade Gold in Initial White Dam Resource Drilling Results
Resource drilling continuing to May and second rig on site for Heap Leach testwork
Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce the initial results of the drilling programme designed to expand and upgrade the JORC 2012 Mineral Resource Estimate (MRE) published in 2020 on the Company’s 100% owned White Dam Gold Project (‘the Project’), 80km east of Broken Hill in South Australia’s Olary Province.
HIGHLIGHTS
WHITE DAM RESOURCE DRILLING PROGRAMME RAPIDLY ADVANCING – Reverse Circulation (RC) drilling to upgrade the Vertigo Mineral Resource Estimate (MRE) is 85% complete with 123 holes for 8,003m completed.
The drilling rig will then move to the Hannaford Pit, followed by White Dam North and Rolling Prospects.
INITIAL ASSAY RESULTS CONFIRM HIGH GRADE GOLD AND STRONG CONFORMITY WITH MRE BLOCK MODEL – Infill RC drilling has been undertaken over a strike length of 500m at Vertigo to infill and upgrade the shallow gold mineralisation, with results strongly underpinning an anticipated MRE upgrade, including:
VRC001: 15m @ 1.6g/t Au and 0.48% Cu from 56m
incl. 1m @ 4.4g/t Au and 1.2% Cu from 60m
and 4m@ 2.9g/t Au and 0.79% Cu from 62m
SECOND RIG ON SITE TO UNDERTAKE DRILLING FOR METALLURGICAL TESTWORK ON HEAP LEACH PAD – A Sonic rig is now onsite and will begin work on drilling out the existing Heap Leach pad for metallurgical testwork and grade estimation on the remaining ore.
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Pacgold’s Managing Director, Matthew Boyes, commented:
“Our exploration and development teams are rapidly advancing with resource drill-outs. Concurrently, we are looking to firm up potential shallow, low-cost, and easily accessible ore.
“By bringing this ore forward in our mine optimisation and schedules, we can help reduce early working capital requirements while we strip back the main pits at Vertigo and Hannaford to access these primary orebodies.
“Once each pit has been drilled to our satisfaction, new resource models and pit optimisation studies will be completed.
“The Company is targeting early Q3 2026 to finalise this work. Subsequently, we can move forward with our permit submissions to mine the White Dam North resource and expand the footprint of the existing Hannaford and Vertigo pit operations.
“2026 has commenced with the team successfully meeting all our goals. With the pad now under irrigation and the re-crush of the final lift set to begin this quarter, we are consistently hitting all our operational milestones.
“We look forward to achieving our first production as we continue the rapid transition from explorer to producer.”
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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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