Pacgold (ASX:PGO) intends to begin a drilling program at the White Lion prospect in Queensland, in September, after defining a large high-intensity induced polarisation (IP) anomaly.
The IP anomaly is coincident with a previously delineated shallow bullseye magnetic anomaly at White Lion. The anomaly is 500m south of limited outcropping quartz breccia hosted gold mineralisation in historical drilling and rock chip sampling hosted by the Alice River Fault Zone.
Managing Director Matthew Boyes says the definition of such a “compelling” geophysical target at White Lion is “encouraging”.
“The field team are now preparing for a maiden reverse circulation drilling program to test the combined IP chargeability and magnetic bullseye anomaly in September,” Boyes says.
“We are confident the regional program will continue to provide further targets for drill testing into 2026 and beyond, with strong potential to increase the current mineral resource base on the project.”
An initial 10 to 12 reverse circulation drillholes will test the main areas of the magnetic and IP anomalies between depths of 50 to 250m below surface depending on drilling conditions.
Pad clearances are planned for next week, with the drilling program to begin immediately after access is completed.
Pacgold is a junior mineral explorer focused on its project portfolio in Northeast Queensland.
Write to Aaliyah Rogan at Mining.com.au
Images: Pacgold
