Pacgold (ASX:PGO) is continuing its diamond drilling program at the Alice River Gold Project in Queensland, furthering structural and metallurgical testwork. Pacgold is a junior mineral explorer focused on the Alice River Gold Project, situated at the northern end of the Northeast Queensland Minerals Province. The project includes 30km of prospective gold targets within 377km2 of granted exploration permits and mining leases.
The current 25-hole, 2,700-metre drilling program will concentrate on obtaining metallurgical samples and structural information from the Central, Southern, and Posie targets. These efforts will target specific zones identified in the maiden resource estimate conducted in May 2023, which estimated 12.2 million tonnes at 1.2 grams per tonne for 474,000 ounces of gold, within a global resource of 26.7 million tonnes at 1.01g/t for 854,000 ounces of gold.
Managing Director Matthew Boyes stated that the drilling is primarily aimed at enhancing the understanding of structural controls and directions of the main mineralised shoots, particularly in areas with limited previous diamond drilling. Furthermore, first-pass drilling is scheduled for the Jerry Dodds and Victoria prospects to provide drill core for detailed geological and structural analysis of previously intersected gold mineralisation.
Following the establishment of diamond drilling crews, Pacgold intends to deploy an aircore rig for a regional program extending along the Victoria strike towards the White Lion prospect. Additional geophysical work is also planned at White Lion to better define the depth and extents of the initial drill area, with detailed ground magnetics and pole-dipole geophysics expected to be conducted within the next three to four weeks.