Pacgold Limited (ASX: PGO) is making strides in unlocking the potential of its flagship Alice River Gold Project in North Queensland. Recent results from its extensive drilling campaigns suggest the presence of a large-scale, bulk tonnage gold system across multiple targets, reaffirming its position as one of Australia’s most promising gold exploration ventures.
The standout results include an impressive recalculated historic interval of 114m @ 1.8g/t Au (ARDH044) at the Central Target, solidifying it as a major discovery. Other recalculated intersections further emphasize the scale:
Managing Director Matthew Boyes noted the strategic importance of these findings, “The results confirm the potential for a district-scale gold system. The recalculated intervals, combined with robust current drilling results, elevate the Alice River Project to a pivotal growth asset for Pacgold.”
Drilling at the Southern Target delivered a significant intersection of 50m @ 0.8g/t Au, including 16m @ 1.0g/t Au (STDH014). These results mirror the Central Target's vein-hosted mineralization, hinting at a broader replication of the system across the 30km Alice River Fault Zone (ARFZ).
The Shadows Prospect, a previously untested target, yielded promising first-pass reverse circulation (RC) drilling results. Significant intersections include:
These discoveries validate Pacgold’s (ASX: PGO) exploration model and geophysical targeting techniques, opening the door for further resource delineation.
Pacgold’s (ASX: PGO) aircore program has defined five major gold anomalies across 6km of strike, emphasizing the district’s untapped potential. Key zones like F1a North, with intersections up to 1.01g/t Au, showcase high-priority areas for follow-up exploration.
The aircore program has also revealed critical structural insights, particularly at The Shadows and Solon anomalies, where mineralized trends remain open in multiple directions.
With these exceptional results in hand, Pacgold (ASX: PGO) plans to:
A robust cash balance positions Pacgold (ASX: PGO) to accelerate its 2025 exploration campaign, driving further growth and shareholder value.
The Alice River Project stands out for its potential to host a world-class bulk tonnage gold deposit. With consistent high-grade results, new target discoveries, and advanced exploration methodologies, Pacgold (ASX: PGO) is well-positioned to redefine the region's gold mining prospects.
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