PC Gold (ASX:PC2) has returned 0.70m @ 459.08 grams per tonne gold from 89.47m from hole SDH25-009, marking the Lasagne target’s highest gold intercept to date.
Speaking to Mining.com.au, Executive Chairman Ashley Pattison explains that the Spring Hill Project in the Northern Territory, which hosts Lasagne has a resource regarded as a “large low-grade open pit project”.
“We are now starting to see some fantastic high grade results in the last two releases which may mean we are seeing the extensions to the historic mining activities at site,” Pattison tells this news service.
“The historical mining focused on the oxide zone which on average is up to 90m deep and these high grade hits have all been within the oxides and less than 100m vertical depth from the top of the hill.”
The hole sits along strike from the middle and main zones of the resource estimate, highlighting potential to uncover new “high grade” gold zones for an updated estimate.
PC Gold conducted 5,779m of drilling on the northeast of the existing resource estimate boundary, where the Lasagne target sits. Remaining assays from the Lasagne target, collected in the recent diamond drilling campaign, are still pending.
Pattison tells this news service that the planned phase two drilling is expected to begin by year-end and is awaiting board approval.
“We still have a lot of work ahead of us with three rigs active at site,” the Executive Chairman adds.
“In parallel, we are also undertaking our Feasibility Study work on assessing the full mine feasibility in this current gold price environment and also the construction of our own processing plant to support a five to seven year mine life based on the current resource.”
PC Gold listed on the Australian Securities Exchange (ASX) last month, exceeding its minimum $10 million initial public offering requirement in subscriptions amid a changing gold market.
“We listed the company three weeks ago just as gold was smashed 10% from record highs,” Pattison explains to Mining.com.au.
“This certainly took the heat out of the equity markets.”
The price of gold has since recovered, sitting at US$4,144 per ounce according to the ABC Bullion at time of publishing.
Trading Economics reports that the precious metal has seen a 57.45% increase for this year to date, hitting a three-week high today (11 November).
PC Gold will be attending this week’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
