#pacgold

Pacgold Limited (ASX: PGO) is pleased to announce further strong results from the second batch of RC drilling at its 100%-owned Alice River Gold Project, located 300km northwest of Cairns, North Queensland 🇦🇺.

🔹 Southern Target RC Drilling

STDH031 – 54m @ 0.5g/t Au from 21m incl. 4m @ 2.7g/t Au

STDH037 – 15m @ 1.5g/t Au from 101m incl. 1m @ 18.5g/t Au

STDH030 – 20m @ 0.5g/t Au from 96m incl. 6m @ 1.3g/t Au from 132m

🔹 Central Target RC/DD Drilling

ARDH122 – 2m @ 4.2g/t Au from 55m incl. 1m @ 7.6g/t Au

ARDH130 – 10m @ 0.8g/t Au from 121m incl. 4m @ 1.6g/t Au

ARDH132 – 17m @ 0.3g/t Au from 76m

🔹 Regional & Exploration Programmes

10,912m of RC drilling completed of planned 13,000m, including Posie & The Shadows

Heritage clearance granted at White Lion – RC drilling scheduled to commence 7 September

Aircore programme completed: 432 holes (4,608m) – assays due within 3 weeks

📍 Investor Outlook

The Alice River Gold Project continues to deliver broad zones of shallow mineralisation across multiple targets. With the highly prospective White Lion geophysical target (1.2km strike, 500m width, ~50–80m below surface) set for maiden drilling in September, Pacgold is positioned for strong exploration momentum into Q4.

With shares trading at A$0.064, Pacgold offers exposure to a rapidly advancing Queensland gold project with near-term catalysts from RC, DD, and Aircore results. 💹

💬 Managing Director, Matthew Boyes:

“This second batch of RC holes from The Shadows, Southern and Central targets have extended the broad zones of mineralisation. The upcoming maiden program at White Lion represents the most compelling target developed to date.”

📌 Investor Note:

All assays from the Aircore programme are pending, and diamond drilling results from structural targets are expected within 4 weeks. Pacgold will continue to update shareholders as results flow through.

The primary minerals targeted in the St George Project are antimony and gold. Recent sampling has indicated high-grade concentrations of both minerals, making the project a significant exploration opportunity.

The core of the Pacgold Quarterly Activities Report lies in its exceptional drilling results. The company has achieved significant intercepts of high-grade gold zones across multiple drilling sections. These intercepts, achieved through both diamond and RC (reverse circulation) drilling, confirm the continuity and consistency of the mineralized structure. Such outcomes are not only promising from a resource estimation perspective but also for long-term development strategies.

Particularly noteworthy is the presence of deep mineralization zones that hint at a multi-phase gold system. The drilling outcomes have exceeded expectations and provided geological teams with invaluable data to fine-tune future drilling strategies. The consistency in mineralized grades over vertical and lateral distances points towards a robust and expanding gold system beneath the surface.

Pacgold's technical team has successfully mapped out zones of structural complexity, typically known to host richer gold deposits. These structural controls include shears, fault lines, and folds that are now better understood thanks to the recent drilling campaigns. Such insights enable targeted drilling, thereby reducing exploration risk and improving resource conversion efficiency.

Pacgold Limited (ASX: PGO) is rapidly emerging as a standout name in Australia’s junior gold exploration sector, thanks to a highly encouraging quarterly update that underscores the world-class potential of its Alice River Gold Project in North Queensland.

From drilling success to regional target breakthroughs and a strengthened balance sheet, Pacgold’s latest quarterly activities report presents a clear case for why investors and industry watchers should be paying close attention.

Striking Gold: High-Grade Intersections at Central Target

The cornerstone of Pacgold’s Q2 2025 performance is the remarkable progress made at the Central Target within the Alice River Project. Recent reverse circulation (RC) drilling has delivered multiple thick, high-grade intersections, such as:

48m @ 2.1g/t Au (including 2m @ 29g/t Au)

50m @ 1.0g/t Au from surface

74m @ 0.8g/t Au with higher-grade zones

These intercepts confirm a bulk tonnage gold system along the Alice River Fault Zone, demonstrating both scale and consistency. With only 19 holes completed so far from the ongoing 10,000m RC program, early results are not only upgrading resource confidence but also highlighting upside potential.

A Substantial Maiden Resource Sets the Foundation

Pacgold’s maiden JORC-compliant Mineral Resource Estimate unveiled in May 2025 affirms Alice River’s credentials:

474,000oz @ 1.2g/t Au within A$5,000/oz pit shells

854,000oz @ 1.01g/t Au global estimate (open pit + underground)

The Central Target alone holds 223,000oz @ 1.4g/t Au. More than 250,000oz is now classified as Indicated, paving the way for robust feasibility and development studies.

Importantly, this resource extends only to 500m depth and remains open in all directions, signalling significant expansion potential.

White Lion Prospect: A Sleeping Giant Awakens

A major highlight of the quarter is the emergence of the White Lion Prospect—a circular magnetic anomaly that mirrors the geophysical profile of historic tier-one mines like Mt Leyshon (3.5Moz gold production).

Despite limited historic drilling, new magnetic reprocessing and IP chargeability surveys have revealed a compelling, untested target just 500m from the Alice River Fault. Drilling is planned for Q4 2025, and success here could redefine the project’s scale.

Aggressive and Well-Funded Growth Strategy

Following a $5.6 million capital raise, Pacgold is executing a multi-pronged exploration strategy:

12,000m RC drilling to expand resources

3,000m diamond drilling for metallurgy & structural mapping

5,000m aircore program targeting new regional anomalies

Ongoing geophysics and geochemistry programs

With multiple rigs on site, Pacgold is progressing rapidly toward both resource growth and development de-risking.

Strategic Location in a Prolific Gold Belt

Situated 300km northwest of Cairns, Alice River sits in one of Australia’s most well-endowed gold provinces. The project benefits from:

Year-round road access

Established power and mining infrastructure

Skilled local labour market

Pacgold Limited’s (ASX: PGO) White Lion Prospect just became one of North Queensland’s most exciting gold exploration targets—thanks to a game-changing geophysical discovery that could reshape the future of the Alice River Gold Project.

In a detailed ASX update released on 10 July 2025, Pacgold revealed the delineation of a large, high-intensity IP (Induced Polarisation) anomaly that directly overlaps a strong magnetic “bullseye” feature. This combination is a classic signpost in the search for intrusion-related gold systems (IRGS)—and one that bears striking resemblance to Queensland’s 5Moz Mt Leyshon deposit.

A Bullseye in the Making

The newly mapped anomaly at White Lion spans 1.0km x 1.5km, positioned just south of the mineralised Alice River Fault Zone (ARFZ). Pacgold’s geophysics team uncovered a textbook “donut-shaped” magnetic inversion at around 200 metres depth—encircling high-chargeability zones typical of sulphide-rich, gold-hosting breccias.

Managing Director Matthew Boyes called it “an excellent result,” stating that White Lion now represents a priority drill target for Pacgold over the coming months.

The Bigger Geological Picture

This isn’t just a lucky hit—it’s the outcome of a carefully executed exploration model. Pacgold is targeting intrusion-related gold systems, a mineralisation style known for size and scale. White Lion’s magnetic lows, pyrite-rich zones, and alteration signatures line up with known global analogues like Fort Knox in Alaska and Australia’s Mt Leyshon.

The fact that historic shallow drilling in the 1980s encountered anomalous gold—but never tested the current central magnetic anomaly—adds to the intrigue. The real prize likely lies beneath, and Pacgold’s geophysics suggest depth continuity and structural controls needed for a major discovery.

What’s Next: Drills, Data and Development

The company is now fast-tracking a Pole-Dipole IP survey to pinpoint drilling locations more accurately and build a depth model. Once heritage and environmental permitting is finalised, Pacgold plans to begin drill testing in Q4 2025.

Concurrently, its regional IP program is expanding along the ARFZ to link White Lion with other promising targets like Victoria, Posie, and Central. These prospects lie within Pacgold’s broader 377km² Alice River tenement, offering potential scale far beyond one drill hole.

A Surge in Market Attention

The market is taking note. On the day of the ASX announcement (10 July), Pacgold’s trading volume spiked to 470,600 shares, up nearly 60x from earlier in the week. The share price held firm at $0.062, signaling investor confidence and anticipation for a potential breakout.

Date

Volume

04 July

8,000

08 July

220,900

09 July

81,000

10 July

470,600 🔥

With a market cap of just under $10 million, Pacgold still sits in the early-stage exploration sweet spot—high risk, but potentially high reward if drilling confirms mineralised breccias.

Why This Matters: The Hunt for Australia’s Next IRGS Giant

The Alice River Gold Project sits within one of Queensland’s most prolific gold provinces, home to multi-million-ounce discoveries like Pajingo and Ravenswood. Pacgold is methodically applying modern geophysics and proven models to unlock underexplored terrain.

Pacgold Ltd (ASX: PGO) has released a standout Quarterly Activities Report, showcasing consistent high-grade drilling results and major resource potential at its 100%-owned Alice River Gold Project in North Queensland.

💡 Key Highlights:

✅ Q2 drilling confirms large-scale gold system across Alice River Fault Zone ✅ Maiden JORC Resource: 854Koz Au @ 1.01g/t Au, incl. 474Koz @ 1.2g/t Au within optimised pit shells ✅ 250Koz Indicated Resource @ 1.4g/t Au – strong base for development studies ✅ Standout drill hits:

48m @ 2.1g/t Au (incl. 2m @ 29g/t Au) – ARDH098

50m @ 1.0g/t Au (incl. 1m @ 13.7g/t Au) – ARDH101

74m @ 0.8g/t Au (incl. 16m @ 1.3g/t Au) – ARDH099 ✅ Resource open along strike and at depth – growth potential remains strong ✅ White Lion: 1km-wide magnetic anomaly with Mt Leyshon-style potential ✅ Gradient IP surveys, geochem, and mapping underway across 8km strike

📊 Investor Outlook:

With shares trading at A$0.063, Pacgold continues to build momentum as a premier gold exploration story in Queensland. Broad mineralised zones, multiple rigs turning, and new high-impact targets position PGO for potential re-rating through H2 2025.