Pacgold Reports 900,000oz Gold Resource and Acquires High-Grade Antimony Project
Pacgold Limited advances its Northern Queensland footprint with a maiden 900,000-ounce gold resource at Alice River and a new high-grade antimony acquisition at St George, positioning itself amid critical mineral supply challenges.
- Maiden Mineral Resource Estimate of 900koz gold at Alice River
- Aggressive 12,000m drilling campaign underway to expand gold resources
- St George project acquisition offers exposure to high-grade antimony
- Farm-in agreement structured over three stages to acquire 100% interest
- Antimony supply crisis and rising prices highlight strategic value
Pacgold’s Growing Northern Queensland Portfolio
Pacgold Limited (ASX, PGO) has unveiled a significant step forward in its exploration and development efforts across Northern Queensland, spotlighting its flagship Alice River Gold Project alongside a strategic new acquisition in the St George Gold-Antimony Project. The company’s August 2025 investor presentation detailed a maiden mineral resource estimate (MRE) at Alice River delineating approximately 900,000 ounces of gold, complemented by an aggressive drilling program aimed at resource expansion.
At Alice River, Pacgold controls over 30 kilometres of prospective gold-bearing structures with excellent infrastructure support, including mining leases and exploration permits covering 377 square kilometres. The maiden MRE reveals a robust foundation with 11.1 million tonnes grading 0.9 grams per tonne gold, translating to 317,000 ounces, and highlights significant upside potential as less than 5% of the strike has been drill tested to date.
Drilling Momentum and Resource Growth
The company has recommenced a major drilling campaign with over 12,000 metres of reverse circulation drilling scheduled through September 2025, alongside diamond and aircore drilling programs. Recent results from the Central Zone have been encouraging, with intercepts such as 48 metres at 2.1 grams per tonne gold, including high-grade intervals up to 29 grams per tonne. These results reinforce the potential for a multi-million ounce gold system, with exploration targeting multiple priority zones along the Alice River Fault Zone.
Strategic Acquisition of St George Gold-Antimony Project
In a move to diversify and capitalize on critical mineral demand, Pacgold has entered a staged farm-in agreement to acquire up to 100% interest in the St George Gold-Antimony Project. This project is notable for its historical artisanal production of antimony with grades as high as 60%, and recent rock chip sampling confirming extremely high antimony concentrations alongside gold. The acquisition terms include an initial cash payment and shares, with staged expenditure commitments and a feasibility study milestone required to progress ownership.
Antimony is a critical mineral facing a global supply deficit, with prices quadrupling since early 2024 amid export controls and declining production dominated by China and Russia. Pacgold’s entry into this space aligns with growing demand from flame retardants, alloys, ceramics, and emerging solar photovoltaic applications, positioning the company to benefit from supply chain diversification efforts by Western economies.
Experienced Leadership and Market Positioning
Pacgold’s board and management team bring extensive expertise in geology, mining, and corporate strategy, with backgrounds spanning major industry players and successful exploration ventures. This leadership is driving a disciplined approach to exploration and resource development, leveraging proven models and geophysical targeting to unlock value across its portfolio.
With gold prices at record highs in Australian dollars and antimony prices surging globally, Pacgold’s dual exposure to these commodities in a stable jurisdiction offers a compelling investment narrative. The company’s ongoing exploration and development activities will be closely watched as it seeks to convert its resource base into long-life, profitable operations.
Bottom Line?
Pacgold’s dual focus on expanding gold resources and securing critical antimony assets sets the stage for a pivotal year ahead in Northern Queensland exploration.
Questions in the middle?
- How will upcoming drilling results at Alice River impact the overall resource estimate and project economics?
- What are the timelines and key milestones for the St George farm-in agreement and feasibility study?
- How might global antimony supply constraints influence Pacgold’s strategic positioning and valuation?