Pacgold (ASX: PGO)

Announced the initial results of the systematic geochemical soil programme completed on the “St George Gold-Antimony” Project in northeast Queensland.

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Pacgold’s St George Soil Geochemistry Defines 14km Gold and Antimony Anomaly  

Anomaly open along strike and coexistent with major mineralised structures hosting Fence and Ridgeline Prospects

Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce the initial results of the systematic geochemical soil programme completed on the “St George Gold-Antimony” Project (‘the Project’) in northeast Queensland.

HIGHLIGHTS

DEFINITION OF SIGNIFICANT-SCALE SOIL ANOMALIES – Regional grid-based soil sampling confirms significant gold and antimony anomalies coexistent with structurally-controlled Au and Sb-bearing veins over 7km of strike on each of two priority structures; both anomalies are open along strike

STRONGEST ANOMALIES DIRECTLY LOCATED ON FENCE AND RIDGELINE PROSPECTS – Highest intensity Au and Sb anomalies up to 1.5km in length centred on both the Fence and Ridgeline Prospects

INFILL SOIL ASSAY RESULTS AWAITED – Results received are 400 metres by 50 metres sample centres; assay results for infill samples collected at 200m expected in December, enabling planning of drilling for Q2 2026

MAJOR ANOMALIES REMAIN UNTESTED – No modern drilling carried out into either anomaly, multiple targets to now be refined and tested in next drill campaign.

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Pacgold’s Managing Director, Matthew Boyes, commented:

“Exploration has accelerated quickly at St George Gold-Antimony Project with a focussed team completing an extensive first pass soil geochemical programme in conjunction with mapping and rock chip sampling of outcropping mineralisation over the past 6 weeks.

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“Initial rock chip sample assays have produced some outstanding gold and antimony values from structures at surface with considerable mapped strike extents with both Ridgeline and Fence prospects sampled over 3km and 2km in strike length respectively.

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“Its crucial to point out that these outstanding soil anomalies were acquired over tenements located 5km to the south of the St George historical mine location demonstrating the extent and consistency of mineralisation within the tenement package.

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“This tenement package has some of the most well-developed antimony-rich veins across the entire Hodgkinson Province.

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“With this newly acquired geochemical data PACGOLD’s team can now focus in on target development and selection of drill sites for the coming campaign, this will be an extensive programme to give the team the best chance of making multiple significant discoveries in what is fast becoming the premier Au-Sb province in Australia.”

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To read the full news release, please click HERE

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To view the latest share price and chart, please click HERE

Pacgold Limited (ASX: PGO)

Announced a farm in agreement on the “St George Antimony” Project , 70km west of Mt Carbine, North Queensland.

The tenement package consists of 7 tenements comprising of 5 granted and 2 tenements in application for a total area of 905km2 within a developing Antimony province in the Hodgkinson Province.

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Map courtesy of Pacgold Ltd.

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Pacgold Farm In Agreement to acquire St George Gold-Antimony Project North Queensland

Widespread high grade outcropping Au-Sb mineralisation

Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce a farm in agreement on the “St George Antimony” Project (‘the Project’), 70km west of Mt Carbine, North Queensland. The tenement package consists of 7 tenements comprising of 5 granted and 2 tenements in application for a total area of 905km2 within a developing Antimony province in the Hodgkinson Province.

HIGHLIGHTS

• FARM IN AGREEMENT SIGNED – Pacgold has the right to earn up to 100% interest in the St George Gold-Antimony Project in northeast QLD over three-stage farm in agreement, significant land position with exploration tenements totalling 905Km2
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• ST GEORGE ANTIMONY MINE – Historical antimony mine with reported production of 60T grading 60% of Antimony1 produced from artisanal open cut and underground workings; no modern drilling undertaken.
• CRITICAL MINERAL EXPOSURE – Antimony classed as critical mineral, with robust
demand and limited global supply growth leading to metal prices at historic highs
• HIGH-GRADE ANTIMONY IN ROCK CHIPS – Due diligence rock chip sampling and
mapping confirmed extremely high grades of Antimony in Au-Sb rich structurally controlled veins on the St George Mine, significant rock chips reported included;
• SG250704 returned 49.4% Sb and 0.05g/t Au
• HRX10212 returned 66.6% Sb and 0.01g/t Au
• HRX10086 returned 16.35% Sb and 10.1g/t Au
• HRX10161 returned 28.1% Sb and 0.01g/t Au
• HRX10208 returned 51.9% Sb, NSA for Au
• HRX10151 returned 8.82% Sb and 2.05g/t Au
• HERITAGE CLEARANCE COMPLETED – St George Mine heritage clearance now
completed and in excess of 500m of mineralised strike extent drill ready.
• MULTIPLE TARGETS – Multiple high-grade Gold and Antimony occurrences on extensive regional structures within the tenement package including Poppy Prospect located approx. 2km to the west of St George Mine reported up to 112g/t Au and 17.5% Sb2
• FIRST PASS EXPLORATION COMMENCING – Pacgold will immediately commence
exploration on the land package with first pass mapping, geophysics, soil geochemistry
and drilling to be planned and completed before end of Q4.

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Pacgold’s Managing Director, Matthew Boyes, commented:

“Securing the St George Gold-Antimony Project is an exciting addition to our Queensland exploration portfolio, giving Pacgold exposure to a highly prospective, historically mined antimony asset in close proximity to our flagship Alice River Gold Project.

“Antimony is a critical mineral with a growing demand profile and an increasingly sharp geopolitical importance due to a supply structure dominated by China.

 

“With the price of Antimony recently reaching US$60,000/tonne and the extremely high grades confirmed from due diligence sampling, there is potential to unlock significant value at this underexplored project through systematic exploration, which we will commence immediately across the multiple high-grade targets already identified.

“With heritage clearance recently completed by the Hardrock Team, we’re looking forward to working with the local stakeholders and traditional owners to create a partnership that benefits all parties as we move into full scale exploration.

 

“Pacgold remains committed to advancing its flagship Alice River Gold Project and is now adding the complimentary St George Project to the Company’s growth strategy.”
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To read the full news release, please click HERE

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Perpetua Resources (TSX: PPTA)

The share price is falling following the News Release on Febrary 13th 2025, and now the lawyers are lining up to sue the company on behalf of investors.

A director has just announced a sale due to “tax reasons”. This is turning sour very quickly,

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Comment.

A month ago Perpetua Resources looked a solid hold. The company had received permits for its Stribnite gold / antimony mine in Idaho, USA, despite local opposition from enviromentalists.

On the 13th February the company published a press release wich mentioned increased capex costs and AISC compared to the 2020 Feasibility Study.

This has caused the share price to go into a steep decline and has now fallen around 33% from the recent peak, including over 9% on Friday 21st February.

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Perpetua Resources Price Falling on Bad News, Lawyers Lining Up

Investigation Details

On February 13, 2025, Perpetua disclosed in a filing with the U.S. Securities and Exchange Commission that the Company had “released an updated cash flow model for the Stibnite Gold Project (the ‘Project’), which is based, in part, on basic engineering work completed by Ausenco Engineering USA South Inc. (‘Ausenco’) in January 2025 (the ‘Financial Update’).”

 

Perpetua said that the “Financial Update also applies fourth quarter 2024 cost estimates for construction and operations, consistent with the Basic Engineering analysis, as well as current and consensus commodity pricing for sales” and that “the Financial Model reflects an increase in initial and total capital expenditures and LOM AISC compared to the base model included in the 2020 Feasibility Study” for the Project.

 

On this news, Perpetua’s stock price fell $2.68 per share, or 22.39%, to close at $9.29 per share on February 14, 2025.

 

What’s Next?

If you are aware of any facts relating to this investigation or purchased Perpetua securities, you can assist this investigation by visiting the firm’s site: bgandg.com/PPTA. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

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Perpetua Receives the Final Permit for Stribnite

Highlights