Pacgold (ASX:PGO) is preparing for a Q4 2025 drilling program at its White Lion prospect as part of the Alice River Gold Project in Queensland, with a heritage clearance and approvals processes currently underway.
The heritage clearance covers a 1km2 magnetic anomaly and the adjacent area, which shows signs of magnetic destruction likely caused by alteration.
Several lines of pole-dipole induced polarisation (IP) will be completed over the central White Lion target area to better delineate target depths of the IP chargeability. This work is expected to be completed before the end of July 2025.
Pacgold has previously identified an extensive high-intensity IP chargeability anomaly coincident with a previously delineated bullseye magnetic anomaly at White Lion. The anomaly is located 500m south of the northwest-southeast trending Alice River Fault Zone.
Pacgold, which has a market capitalisation of $9.72 million, says the anomaly shows considerable similarities to the intrusion-related 5 million ounce Mt Leyshon Gold Project.
Managing Director Matthew Boyes says this is an “excellent” result for the company, with the results from the survey now confirming the intensity and dimensions of the target at White Lion.
“With clear analogies such as Mt Leyshon and anomalous gold values already delineated at surface, White Lion now represents a priority drill target for Pacgold over the coming months,” Boyes says.
The Alice River Project, comprising 30km of targets within 377km2, is set within a large intrusion-related gold system in North Queensland.
In 2025, Pacgold is focused on investigating all regional prospects for the potential to host gold resources. This includes the high-priority Central and Southern targets where drilling from 2021 to 2024 has defined coherent high grade gold mineralisation extending several hundred metres vertical depth from surface, and there is clear potential to define robust mineral resources.
Pacgold is an Australian explorer systematically uncovering gold endowment at its wholly owned Alice River Project.
Write to Aaliyah Rogan at Mining.com.au
Images: Pacgold
