Pacgold Unveils High-Impact Gold Target at White Lion Ahead of Maiden Drilling
Pacgold Limited has identified a compelling high-intensity induced polarisation gold target at its White Lion Prospect in Queensland, with maiden drilling set to begin in September 2025. The discovery highlights promising geophysical anomalies that could expand the company’s resource base.
- High-intensity IP chargeability anomaly confirmed at White Lion Prospect
- Anomaly coincides with strong resistivity and magnetic bullseye features
- Target lies less than 100m below surface, indicative of potential sulphide mineralisation
- Maiden reverse circulation drilling of 10-12 holes scheduled for mid-September
- Alice River Gold Project hosts extensive intrusion-related gold system with historical mineralisation
A New Chapter in Queensland Gold Exploration
Pacgold Limited (ASX – PGO) has announced a significant breakthrough at its White Lion Prospect, part of the Alice River Gold Project in North Queensland. The company’s recent geophysical surveys have delineated a robust and high-intensity induced polarisation (IP) chargeability anomaly, which is closely aligned with a previously identified magnetic bullseye and resistivity anomalies. This convergence of geophysical signals points to a potentially substantial gold-bearing system located less than 100 metres below the surface.
Geophysical Evidence Builds a Strong Case
The integrated 3D modelling of Pole-Dipole and Gradient Array IP surveys has revealed a discrete chargeability anomaly measuring approximately 800 by 500 metres, with peak values significantly above background levels. This anomaly is interpreted as indicative of sulphide-bearing rocks, which often host gold mineralisation. The target’s proximity, just 500 metres south, to known quartz breccia-hosted gold mineralisation along the Alice River Fault Zone further enhances its prospectivity.
Maiden Drilling Program Set to Test the Target
Following a completed cultural heritage clearance, Pacgold is preparing to commence its maiden reverse circulation (RC) drilling program in early September. The initial phase will comprise 10 to 12 drill holes designed to test the IP and magnetic anomalies at depths ranging from 50 to 250 metres. This drilling campaign represents a critical next step in validating the geophysical targets and potentially expanding the project’s mineral resource base.
Strategic Regional Exploration Momentum
Pacgold’s Managing Director, Matthew Boyes, emphasised the importance of this discovery within the broader regional exploration strategy. Alongside ongoing drilling at other prospects such as Victoria and Jerry Dodds, and pending results from regional geochemical aircore drilling, the White Lion target adds a compelling new dimension to the company’s portfolio. The Alice River Gold Project, spanning 377 square kilometres, is situated within a prolific intrusion-related gold system analogous to globally significant deposits.
Looking Ahead
While the geophysical data presents a promising picture, the true test will come with the drilling results expected later this year. Should the assays confirm significant gold mineralisation, Pacgold could be on the cusp of a major resource upgrade. Meanwhile, the company plans further surface mapping and geochemical surveys to refine and expand its target pipeline, underscoring a methodical and data-driven approach to exploration.
Bottom Line?
Pacgold’s upcoming drilling at White Lion could redefine its resource potential and set the stage for a new phase of growth.
Questions in the middle?
- Will the maiden drilling confirm economically viable gold mineralisation at White Lion?
- How might the new target influence Pacgold’s overall resource estimates and valuation?
- What further exploration strategies will Pacgold deploy if drilling results are positive?
