Having spent 2024 building out its portfolio of targets, junior gold explorer Pacgold’s (ASX:PGO) focus for this year is on drill testing the multiple high-priority prospects to better understand the potential scale of the Alice River project.
A regional aircore program undertaken at the Alice River Gold Project in North Queensland revealed the potential for a “very large bulk tonnage” gold system, with in excess of 12km of high-priority geochemical anomaly targets defined.
The Alice River Project has a footprint that extends over 30km in strike, and so far Pacgold has only drill-tested less than 5% of that total distance.
The project covers the site of a past gold mining operation that historically produced 30,000 ounces of gold at 5.5 grams per tonne, with multiple small artisanal workings located at the project along the Alice River fault structure confirming the presence of a large mineralised system.
The Southern target area and Jerry Dodds were also historically mined with very high grades of gold being excavated at what are very limited areas of outcrop.
In early December, Pacgold completed an aircore program of 7,185m of drilling across 749 holes along 14km of strike.
Not long after reporting the completion of that program, initial results showed Pacgold had uncovered multiple coherent high-grade gold-arsenic anomalies stretching from Posie in the north to Victoria in the south, with the anomalies and mineralisation remaining open at both ends of the system.
Write to Angela East at Mining.com.au
Images: Mining.com.au
