St George Exploration Kickoff Raises Stakes in Critical Antimony Market

Exploration Momentum Builds at St George

Pacgold Limited (ASX, PGO) has taken a significant step forward in its Queensland exploration strategy with the commencement of field activities at the St George Gold-Antimony Project. Situated within the mineral-rich Hodgkinson Province, the project area has seen limited modern exploration despite a history of artisanal mining and promising surface mineralisation.

Recent reconnaissance visits have revealed extensive outcrops of visible stibnite; antimony sulfide; across several prospects including Fence, St George, Poppy, and Ridgeline. These findings have prompted the launch of a comprehensive regional soil geochemical survey covering approximately 25 square kilometres and 9 kilometres of strike length. This systematic approach marks the first large-scale modern exploration effort on the tenement package.

Geophysics and Drilling on the Horizon

Following the soil sampling, Pacgold has engaged Planetary Geophysics to conduct Pole-Dipole and Induced Polarisation (IP) gradient array surveys starting in early October. These geophysical techniques are designed to delineate subsurface structures associated with gold and antimony mineralisation, helping to prioritise targets for drilling.

Pacgold’s Managing Director, Matthew Boyes, expressed optimism about the project’s potential, highlighting the structural complexity and mineralised vein systems mapped over strike lengths exceeding 500 metres. The company aims to mobilise reverse circulation (RC) and possibly diamond drilling rigs before the end of 2025 to test both historical and newly identified targets.

Strategic Positioning in a Critical Mineral Market

Antimony, classified as a critical mineral, has seen global production decline since 2011, with China controlling approximately 85% of supply. Recent price surges to historic highs have renewed interest in antimony exploration worldwide. Pacgold’s St George Project, located near established goldfields and tungsten and tin deposits, offers a compelling opportunity to tap into this market dynamic.

The company holds rights to earn up to 100% interest in the project through a staged farm-in agreement with Hardrock Mineral Exploration Pty Ltd. This agreement includes expenditure milestones and a royalty structure, aligning incentives for advancing the project through exploration and potential development.

Looking Ahead

With soil sampling underway and geophysics imminent, Pacgold is poised to accelerate its exploration program. The integration of historical data, modern geochemical techniques, and geophysical surveys aims to unlock new targets within this underexplored region. Success at St George would complement ongoing drilling at the Alice River Project, reinforcing Pacgold’s position in Queensland’s gold and antimony sectors.