PC Gold (ASX:PC2) has revealed an intersection of 25m @ 36.83 grams per tonne gold from 283m, including 2m @ 444.3g/t gold from 304m, at the recently discovered Macau and Hong Kong lodes within the Spring Hill Project in the Northern Territory.
The discovery follows gold highs, after the precious metal broke its spot price record with over US$5,608 ($8,070) on Thursday 29 January 2026. Gold tumbled by more than 8% on the following day, according to Trading Economics.
Gold is currently priced at US$4,887 per ounce on 2 February, representing a 74.72% increase year over year.
PC Gold targeted this recent discovery with five diamond drillholes across 225m in strike length. The company says all drillholes intersected visible gold and the zone remains open in all directions.
The company is still awaiting assays for the remaining four holes from this campaign.
Following the completion of this drilling campaign, PC Gold will undertake extensional surface drilling for up and down dip of the already addressed holes. The company will also extend the next campaign further along strike with pad preparation beginning this week.
One rig from the ongoing diamond geotechnical campaign will be moved to conduct follow up drilling at the Macau Link Zone.
The company is also planning an upcoming drilling program from the underground Adit, which is expected to begin in the week starting 9 February, with drill cuddy design and development work to begin in the June quarter.
Executive Chairman Ashley Pattison says this assay result is “by far the most significant hole drilled at Spring Hill in the life of the project” in the middle of the Macau Link zone.
“The significance of this discovery and result cannot be underestimated,” Pattison says.
“This zone was previously modelled in the current mineral resource estimate at approximately 0.7-1.5g/t gold grade and classified as inferred.
“PC Gold will now focus on defining the scale of this new high grade domain and assessing its potential to be incorporated into the mine plan as part of the ongoing Feasibility Study.
“We have delivered high grade results from recent drilling at the Lasagne and Eastern lodes, but this is a standout bulk-tonnage intercept from an underdrilled part of the Spring Hill orebody. It’s a testament to the technical team driving PC Gold forward.”
PC Gold is a gold exploration and development company focused on bringing its flagship Spring Hill Gold Project in the Northern Territory into production.
PC Gold will be attending the RIU Explorers Conference in Fremantle, Western Australia, held between 17-19 February 2026.
Mining.com.au is a media partner for this conference.
Write to Maddison Elliott at Mining.com.au
Images: PC Gold
