PC Gold (ASX:PC2) has returned further assay results from drilling at the Macau Link Zone within the Spring Hill Gold Project in the Northern Territory.
The company has returned assays from three additional up-dip holes at the Link Zone, including 9.5m @ 3.04 grams per tonne gold from 189.6m, 6m @ 5.16g/t gold from 209.6m, 5.2m @ 3.12g/t gold from 174m, and 5m @ 2.86g/t gold from 190.2m.
PC Gold also returned 6.1m @ 2.06g/t gold from 200.9m in Link Zone mineralisation, with additional broad near-surface and ‘high-grade’ mineralised intervals intersected in the Hong Kong Lode.
Two holes from the Link Zone are still pending assays.
The recently identified Macau footwall lode also returned 22m @ 2.60g/t gold from 164m, 4m @ 1.68g/t gold from 105.8m, and 2.8m @ 9.99g/t gold from 126.4m.
These drill results will not be included in the resource estimate, which is currently being finalised. PC Gold says the results indicate additional resource growth potential beyond the upcoming update.
Executive Chairman Ashley Pattison says the company has “hit the ground running” at Spring Hill this dry season.
“These results continue to reinforce our belief that Spring Hill is an amazing deposit, with significant opportunities for growth both within and beyond the current resource footprint,” Pattison says.
“Importantly, these results will not form part of the mineral resource estimate currently being finalised and, together with further drilling planned this year, provide a strong platform for future resource growth.
“With over $22 million in the bank and four rigs now operating at Spring Hill, we are entering what is expected to be our most active exploration season to date.”
Spring Hill in focus
Meanwhile, the company is progressing a four-rig campaign at Spring Hill, comprising three diamond rigs and one reverse circulation (RC) rig, alongside a 20,000m RC drilling program targeting resource growth and conversion opportunities across numerous exploration target areas.
Two diamond rigs will test extensions to the Main and Link Zones, while the third diamond rig will target deeper mineralisation at Hong Kong and Macau.
PC Gold has agreed to acquire an adjoining exploration licence at the Spring Hill Project to expand the company’s landholding by around 68km2.
The exploration licence secures tenure along strike and to the east of Spring Hill.
“Alongside drilling aimed at extending the known high-grade zones, we are also commencing deeper drilling programs and testing a range of regional targets across the project area,” Pattison adds.
“The acquisition of the adjoining exploration licence further strengthens our position by increasing our footprint along strike and to the east of Spring Hill, providing additional exploration opportunities across a highly prospective section of the Pine Creek Orogen.”
PC Gold is a gold exploration and development company focused on unlocking the full potential of the Spring Hill Gold Project in Australia’s Northern Territory.
Write to Maddison Elliott at Mining.com.au
Images: PC Gold
