Pacgold Ltd. (ASX: PGO)
Announced results for the second batch of 45 reverse circulation drillholes in this year’s 13,000m RC at the Company’s 100% owned Alice River Gold Project, 300km northwest of Cairns, North Queensland.
.
Pacgold project location map – Credits Pacgold Limited.
.
| Pacgold | ASX : PGO | |
| Stage | Exploration | |
| Metals | Gold | |
| Market cap | A$14 m @A$ 6.2c | |
| Location | Queensland, Australia | |
| Website | www.pacgold.com.au/ |
.
Pacgold Alice River Gold Project Drilling Update
.
Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce results for the second batch of 45 reverse circulation drillholes in this year’s 13,000m Reverse Circulation (‘RC’) drill programme at the Company’s 100% owned Alice River Gold Project (‘the Project’), 300km northwest of Cairns, North Queensland.
Drilling intersects significant widths of shallow mineralisation.
HIGHLIGHTS
• SOUTHERN TARGET RC DRILLING – Assays received for holes completed to test
extensions of the Mineral Resource Estimate:
• STDH030 – 20m @ 0.5g/t Au from 96m incl. 3m @ 1.0g/t Au from 99m, and 6m @
1.3g/t Au from 132m
• STDH031 – 54m @ 0.5g/t Au from 21m incl. 4m @ 2.7g/t Au from 21m and 2m @ 2.7g/t Au from 64m
• REGIONAL RC DRILLING – Programmes completed on the Posie and The Shadows
Prospects to test strike and depth extensions of the Mineral Resource Estimate, and followup Au anomalies generated from the 2024 Aircore drilling program; the RC rig is now testing the highest priority targets at Victoria and Jerry Dodds, 10,912m of RC drilling completed of the planned 13,000m programme including the White Lion.
• HERITAGE CLEARANCE WHITE LION – Heritage clearance over the White Lion
Geophysical target has now been completed and RC drilling now planned to commence
by the 7th of September, Geophysical pole-dipole completed with results now being
processed and are scheduled for release next week
• AIRCORE PROGRAMME- The regional extension Aircore programme is now completed with a total of 432 holes and 4,608m of Aircore drilling, all samples have now been submitted with assays scheduled within 3 weeks
.
Pacgold’s Managing Director, Matthew Boyes, commented:
“This second batch of RC holes from The Shadows, Southern and Central targets have now successfully extended the broad zones of mineralisation previously encountered last years RC programme.
“The highest priority targets of Victoria and Jerry Dodds are now being drilled before we close out the campaign with our maiden programme testing the White Lion geophysical target from the 6-7th of September.
“White Lion is the most compelling target I have seen developed to date with a chargeable body measuring up to 1.2km in strike and 500m in width some 50-80m below surface.
“The Aircore programme is also now completed with another 432 holes (4,608m) completed and will develop a further set of targets to the south east of Victoria and Jerry Dodds to be drilled in Q4 this year and early in next year’s drill season.”
To read the full news release, please click HERE
——-
RC and DD Drilling Program
The RC drilling program which commenced in mid-April is continuing to test a number of high priority targets on the Project.
A total of 83 holes for 9,538 metres has been undertaken to 9th August. Step out drilling has been completed on the May 2025 Mineral Resource Estimate (MRE)1 on the Central Target (33 holes) and Southern Targets (19 holes), and the Posie Prospect (20 holes).
Assay results have been returned for the Central and Southern Target, providing strong support for definition of extensions to the MRE.
. These include:
• CENTRAL TARGET:
o ARDH122 – 2m@ 4.2 g/t Au from 55m incl. 1m @ 7.6g/t Au from 54m
o ARDH130 – 10m @ 0.8g/t Au from 121m incl. 4m @ 1.6g/t Au from 121m
.
To read the full news release, please click HERE
.
The Spot gold price can be found HERE
.
=======
.
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 andrew@city-investors-circle.com
.
=======
,
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.
.
Disclosure
At the time of writing the author holds shares in Pacgold
.