Alice River Drilling Yields 42.3g/t Gold Intercept, Boosting Resource Prospects
Pacgold’s latest drilling at the Alice River Gold Project reveals high-grade gold intersections, including visible gold up to 42.3 g/t, supporting a potential Mineral Resource Estimate upgrade. Regional drilling continues with promising targets ahead.
- High-grade visible gold intersected at Posie Prospect outside current resource
- Final assays from 20-hole RC and diamond drilling program confirm resource growth potential
- Regional RC drilling completed at Victoria and Jerry Dodds prospects, assays pending
- Maiden RC drilling underway at White Lion targeting geophysical anomalies
- Gold mineralisation remains open along strike and at depth, indicating further upside
Strong Drill Results at Posie Prospect
Pacgold Limited (ASX, PGO) has announced compelling assay results from its recent drilling campaign at the Posie Prospect, part of the Alice River Gold Project in Queensland. The company’s 20-hole Reverse Circulation (RC) and diamond drilling program has intersected high-grade gold mineralisation, including visible free gold with assays reaching up to 42.3 grams per tonne (g/t). These results extend beyond the current Mineral Resource Estimate (MRE), suggesting significant potential for resource expansion.
Visible Gold and New Vein Systems
Notably, the drilling uncovered free visible gold within high-grade shoots, a hallmark of robust mineralisation. The discovery of parallel hanging wall structures at Posie, previously untested, points to a new high-grade vein system running alongside the established Central Target area. Pacgold’s Managing Director, Matthew Boyes, highlighted the potential for multiple stacked veins, which could multiply the resource base as exploration steps away from the main Alice River Fault Zone.
Regional Drilling and Upcoming Targets
Beyond Posie, Pacgold has completed extensive RC drilling at the Victoria and Jerry Dodds prospects, following up on regional aircore anomalies identified in 2024. While assay results from these areas are still awaited, initial geological observations are encouraging, with sulphidic quartz veining encountered. Additionally, the company has commenced maiden RC drilling at the White Lion Prospect, targeting high-priority geophysical IP and magnetic anomalies, signaling a proactive approach to unlocking further gold potential within the project area.
Geological Context and Exploration Strategy
The Alice River Gold Project sits within a prolific intrusion-related gold system, sharing geological similarities with notable deposits such as Fort Knox in the USA and Hemi in Western Australia. Gold mineralisation is hosted predominantly in quartz veins within granitic rocks, with mineralised zones open along strike and at depth. Pacgold’s drilling strategy focuses on expanding known resources and testing new targets, employing a combination of RC, diamond, and aircore drilling to refine geological models and resource estimates.
Looking Ahead
With the Posie drilling confirming high-grade mineralisation and regional programs underway, Pacgold is well positioned to advance its Alice River project. The company plans further drilling in early 2026 to follow up on these promising results, alongside ongoing exploration at White Lion and other targets. Investors will be watching closely as assay results from regional prospects and maiden drilling at White Lion come to light, potentially reshaping the project’s resource profile.
Bottom Line?
Pacgold’s high-grade gold intersections at Alice River set the stage for a resource upgrade and exciting exploration ahead.
Questions in the middle?
- How will upcoming assay results from Victoria and Jerry Dodds influence the overall resource potential?
- What scale of resource increase can investors realistically expect from the new high-grade vein systems at Posie?
- Will metallurgical variability impact the economic viability of the expanded resource?