Pacgold Publish Alice River Gold Project Maiden MRE
Pacgold (ASX: PGO)
Announced the maiden JORC compliant Mineral Resource Estimate at the Company’s 100% owned Alice River Gold Project, 300km northwest of Cairns, North Queensland.
The initial MRE stands at 12.2Mt @ 1.2g/t Au for 474Koz, within a global estimate of 26.7Mt @ 1.01 g/t Au for 854Koz Au.
Pacgold project map – Credits Pacgold Ltd.
.
.
| Pacgold | ASX : PGO | |
| Stage | Exploration | |
| Metals | Gold | |
| Market cap | A$10 m @A$ 7.6c | |
| Location | Queensland, Australia | |
| Website | www.pacgold.com.au/ |
.
Pacgold Publish Alice River Gold Project Maiden MRE
Resource underpins 2025 focus on accelerated resource delineation and regional expansion programmes
Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce the maiden JORC compliant Mineral Resource Estimate (MRE) at the Company’s 100% owned Alice River Gold Project (‘the Project’), 300km northwest of Cairns, North Queensland.
The initial MRE stands at 12.2Mt @ 1.2g/t Au for 474Koz, within a global estimate of 26.7Mt @ 1.01 g/t Au for 854Koz Au.
The focus on the project has now shifted to delineation of a large continuous bulk tonnage system on the Alice River Fault Zone. The exploration of the Alice River system is still very much in its infancy and this initial MRE represents the first step in understanding the dimensions of the entire system.
RC drilling is now underway with approximately 2,000m of a planned 10,000m programme now completed, initially focussed on the Central Target area firming up areas previously under-drilled (within the newly announced resource footprint) as well as expansion of the known resource footprint.
.
HIGHLIGHTS
• MAIDEN RESOURCE ESTIMATE- INDICATED and INFERRED resources of 12.2Mt @ 1.2g/t Au for 474Koz gold @ 0.5g/t Au cut-off within a global resource of 26.7Mt @ 1.01 g/t Au for 854Koz gold, demonstrating potential for significant upside and near-term resource expansion and consolidation.
• INDICATED CATEGORY- 5.6Mt @ 1.4g/t Au for 250Koz gold reported; upgrade of Inferred Resource category ounces a priority for current RC drilling programme in progress
• DRILLING RECOMMENCED – The 2025 drill season has now recommenced with excellent drill production being achieved; PGO is embarking on its first full drill season for 3 years,
consistent news flow expected throughout the year ahead
• RESOURCE OPEN- Only 5% of the known mineralised strike has been drill tested to date; main modelled resource areas at Central Target, Southern Target and Posie are completely open in all directions
Pacgold’s Managing Director, Matthew Boyes, commented:
“The maiden MRE at Alice River for Pacgold is a major milestone for the company and is the culmination of some outstanding exploration done by the exploration team over the last 4 years.
“Having now confirmed the mineralisation style is robust, utilising an interpretation of broader more continuous gold zones, we have been able to demonstrate very large tonnages of gold mineralisation with approximately 500Koz gold contained within the first 400m from surface making a bulk tonnage open pit operation an obvious first option.
“We are now drilling areas at the Central Target and looking to extend the known mineralisation along strike, as well as increase confidence in areas classified as Inferred under the MRE. Drilling will then recommence at the Southern Target in early May and the regional targets in June.
“The initial 10,000m RC programme will continue to grow as we progress during the year in conjunction with an extensive diamond drilling programme and a follow up
regional aircore programme to extend the known geochemical anomalies.
“This is going to be the busiest year to date for Pacgold at Alice River and offers a compelling investment opportunity into what is fast becoming a major gold discovery.
“We still have an enormous area to explore with multiple high priority targets waiting to be drilled tested all along the nearly 30km of the known Alice River Fault”
.
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
.