PC Gold (ASX:PC2) has intersected visible gold at its Spring Hill Gold Project in the Pine Creek Goldfields in the Northern Territory.
Two diamond drillholes in the Lasagne zone, with two visible gold occurrences in a laminated quartz breccia from 122.5m downhole at hole SDH25-006, while hole SDH25-009 intersected seven visible gold occurrences from 89.47m downhole.
The program has extended the Lasagne zone 1.3km from the northern end of the resource boundary of 821,000 ounces gold to the northern sheeted vein zone.
PC Gold says the prospect holds potential for steeply plunging shoots of high grades, after completing 12 diamond holes and 13 reverse circulation holes in the 2025 dry season.
Cashed up after recently meeting initial public offering (IPO) requirements, Executive Chairman Ashley Pattison says the company has been an active explorer and developer for nearly a decade as a privately held company before listing.
“We are thrilled to have recently completed the IPO and ASX listing of PC Gold,” Pattison says.
“The capital raised enables PC Gold to launch a transformational exploration program aimed at unlocking the scale potential of the Spring Hill Gold Project. In parallel, we will progress Feasibility Studies to evaluate development scenarios and move the asset further up the value curve.”
While raising $13.5 million for its IPO, the company has assembled a deeply experienced Northern Territory-based management team to streamline this next phase of growth.
PC Gold has mobilised two diamond rigs and one reverse circulation rig on site to conduct exploration across 73 infill holes through DDH1 Drilling and Pioneer Drilling. The program is expected to last through until March 2026.
As reported by Mining.com.au, the company intends to reach a development stage for its Spring Hill Project within the next two years.
Northern Territory’s Minister for Mining and Energy Gerard Maley says the progression of the Spring Hill Project will benefit the Pine Creek area, delivering up to 180 jobs at peak construction as well as 145 ongoing operational roles.
“This milestone is the latest chapter in the 150-year gold mining legacy in Pine Creek, and will generate investment, royalties, and jobs for Territorians,” Maley says.
“The value of the Territory resources sector is $10.2 billion as of the last financial year, and PC Gold’s Pine Creek activities will kickstart momentum for other gold investment opportunities in the region.”
Using a variety of geochemical, geophysical, field exploration, mapping, and drilling techniques, PC Gold is focused on uncovering discoveries across its Spring Hill Project in the Northern Territory.
Write to Maddison Elliott at Mining.com.au
Images: PC Gold
