PC Gold (ASX:PC2) has signed a $1 million drill-for-equity agreement with DDH1 to further services at the Spring Hill Gold Project in the Northern Territory.
The agreement sees invoices covered from 1 November 2025 onwards, where DDH1 will conduct an infill drill program covering 27 holes within the 821,000 ounce existing mineral resource estimate area.
This program intends to upgrade the current resource from the inferred category to indicated ahead of a maiden ore reserve in early 2026, while also expanding the overall resource inventory.
Outside of the resource area, drilling will target areas prospective for access via open-pit mining. This will comprise drilling across 46 holes in the Northern Target zone, including 42 reverse circulation holes and four diamond holes.
Pad preparation for drilling at the Northern Target will begin mid-November for reverse circulation drilling to follow.
Drilling is anticipated to run through until the end of March 2026, after kicking off in June 2025. PC Gold currently has two drill rigs active on site to execute infill drilling.
Executive Chairman Ashley Pattison says DDH1 has provided “high quality and professional diamond drilling services” thus far at Spring Hill.
“DDH1 has a modern track mounted diamond drill fleet that is very well suited to the terrain and drilling conditions experienced at Spring Hill that importantly will enable drilling to be undertaken safely during the upcoming Northern Territory wet season,” Pattison says.
“I would like to thank DDH1 for sharing the belief in the potential of PC Gold’s ambitions at Spring Hill and I hope this is the start of a long-term partnership between our companies.”
PC Gold is a gold explorer focused on discoveries in the Pine Creek region of the Northern Territory.
The company will be attending this year’s Noosa Mining Investor Conference, held between 12-14 November 2025, at the Peppers Noosa Resort. Mining.com.au is a media partner for this year’s event.
Write to Maddison Elliott at Mining.com.au
Images: PC Gold
