PC Gold (ASX:PC2) has issued 1.97 million shares, under the previously reported drill-for-equity agreement, to DDH1.
In November 2025, PC Gold signed a $1 million agreement for DDH1 to provide services at the Spring Hill Gold Project in the Northern Territory.
The drill program aimed to upgrade Spring Hill’s current resource from the inferred category to indicated head of a maiden ore reserve in early 2026, while also expanding the overall resource inventory.
Spring Hill hosts a resource of 821,000 ounces of gold, including 424,000 ounces in the indicated category.
PC Gold notes $340,000 of the original $1 million facility remains available to be used for current drilling activities on site. Both parties have agreed to fully use the facility beyond the initial expiry of 28 February 2026.
The current drill program at Spring Hill is continuing at pace and subsequent to the capital raise previously reported, PC Gold will look to expand the program up to 45,000m of drilling planned during 2026.
PC Gold will be attending the RIU Explorers Conference in Fremantle, Western Australia, held from 17-19 February 2026.
Speaking to this news service, Executive Chairman Ashley Pattison says the event is a chance for the company to quickly build relationships through face-to-face meetings with brokers, investors and peers.
“It’s also a chance to share the progress we’ve already made advancing the project privately and outline the key milestones we’re driving toward next,” Pattison says.
“Looking ahead to 2026, the market can expect continued execution and strong newsflow, including the potential for multiple upgrades to the Spring Hill mineral resource estimate.
“We’ll also be progressing work on processing options and broader feasibility activities, alongside the continuation of our exploration drilling program as we work toward the 1-2 million ounce exploration target we outlined as part of the IPO.”
Mining.com.au is a media partner for the conference.
Write to Aaliyah Rogan at Mining.com.au
Images: PC Gold
