Pacgold Report Spectacular Visible Gold

image_pdfimage_print

Pacgold Limited (ASX: PGO)

Provided an update on the Alice River drilling programme.

A spectacular intersection from the newly drilled ARDH061, with over 200 occurrences of visible gold over a 16.4m wide downhole interval (from 242m), representing the best intersection of visible gold drilled to date at Alice River. 

Pacgold

Pacgold Alice River drilling 11th August 2022


Pacgold Limited (ASX: PGO) (‘Pacgold’ or the ‘Company’) is pleased to provide an update on the Alice River drilling programme.

A total of 22 drill holes (diamond (‘DD’) and reverse circulation (‘RC’)) have been
completed on the Central Target in the current programme, with assays results pending for 12 drill holes targeting the F1a zone.

The current drilling programme of 17,500m is approximately 50% advanced with
4,805m RC and 4,408m DD completed. Approximately 80% of the drill programme will focus on the F1a zone  (Central Target) with the remaining 20% to investigate other areas, within the Southern and Northern Targets.

 

Highlights

Spectacular intersection from the newly drilled ARDH061, with over 200
occurrences of visible gold over a 16.4m wide downhole interval (from 242m),
representing the best intersection of visible gold drilled to date at Alice River

ARDH061 is a wide-spaced step-out drill hole on the F1a zone, 80m along the
targeted down plunge extension from the previously identified high-grade gold
zone of 17m @ 9.3g/t Au, including 3m @ 25.3g/t Au
1 (ARDH026, completed 2021)
The early success of this step-out drilling provides excellent indications for the
discovery of multiple potential high-grade shoots along the F1a zone, which has
now been encountered over a 1.5km strike and to a depth of over 500m (open
along strike and at depth)

Assay results are pending for 12 drill holes within the F1a zone, all of which
intersected strong veining and alteration

Step-out and definition drilling on the F1a zone continues with two diamond rigs
and one RC rig over the next three months
.

 

.
Pacgold Managing Director Tony Schreck said:

“The intersection of visible gold over a sixteen-metre zone is a stunning outcome and represents the first of what we believe could be potential multiple high-grade zones developed along the F1a zone.

 


“The first phase of our 2022 drilling programme has been dominantly wide-spaced drilling defining the broad geometry of the large-scale gold system along the F1a zone.

 

“The current drilling is now focusing on multiple, interpreted high-grade shoots in a stacked geometry.


“Assay results are pending for 12 holes, all of which have intersected strong veining and alteration. In particular, results are also pending for ARDH051 (also containing visible gold
) which appears to define another potential high-grade shoot.”

.

To read the full news release, please click 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 does not hold shares in Pacgold.

.