PC Gold’s latest drilling at Spring Hill reveals high-grade gold intersections and a new Macau Extension Target, hinting at significant resource growth potential beyond the current Mineral Resource Estimate.
- High-grade gold intersections from recent diamond and RC drilling
- Discovery of Macau Extension Target with 300m strike length
- Potential extensions to Eastern and Macau lodes beyond current MRE
- Phase 2 drilling planned to upgrade resource confidence and expand open-pit resource
- Spring Hill project holds environmental approvals for mining and a JORC-compliant MRE of 821,000 ounces
Exploration Breakthrough at Spring Hill
PC Gold Limited (ASX, PC2) has announced compelling results from its initial 2025 drilling campaign at the Spring Hill Gold Project in the Northern Territory. The company’s diamond and reverse circulation (RC) drilling has intersected high-grade gold mineralisation within the Lasagne Target, supporting potential extensions to the Eastern and Macau lodes that underpin the current Mineral Resource Estimate (MRE).
Notably, drill hole SRD25-001 returned an impressive 3 metres at 18.52 grams per tonne (g/t) gold from 162 metres downhole, embedded within a broader 23-metre zone grading 2.83 g/t. These results mark the first drilling in this part of the project in over three decades, underscoring the untapped potential of the area.
Discovery of the Macau Extension Target
Perhaps the most significant development is the identification of the Macau Extension Target, located west of the Lasagne Target. This new zone comprises three stacked lodes; W500, W600, and W700; extending over a 300-metre strike length and remaining open to the north and south. Early assays from this zone include 10 metres at 1.73 g/t gold, with higher-grade intervals within, indicating a promising bulk-tonnage target adjacent to the existing resource.
The Macau Extension’s discovery adds a new dimension to Spring Hill’s resource inventory, suggesting that the project’s mineralisation footprint could be substantially larger than previously understood.
Strategic Drilling and Resource Growth
PC Gold is advancing a dual-stream strategy at Spring Hill, infill drilling to upgrade resource confidence and extensional drilling to grow the global resource inventory. The Phase 1 program covered approximately 1.3 kilometres of strike northwest of the current MRE boundary, targeting historically underexplored zones.
Following these encouraging results, the company is planning a Phase 2 drilling campaign focused on in-fill drilling to convert inferred resources to indicated status and expand the open-pit resource base. The proximity of these new targets to the existing resource and favourable terrain conditions present a strong opportunity to add near-surface ounces, which could enhance project economics.
Project Readiness and Development Outlook
Spring Hill benefits from granted mineral leases and environmental approvals for open-pit mining, positioning PC Gold well for a streamlined transition toward production. The current JORC-compliant MRE stands at 25.6 million tonnes at 1.0 g/t gold, equating to 821,000 ounces. The recent drilling results not only reinforce the quality of mineralisation but also highlight the project’s upside potential beyond the existing resource boundaries.
Executive Chairman Ashley Pattison expressed optimism about the results, emphasizing the combination of high-grade intersections, visible gold, and new target zones as indicators of significant scale and quality mineralisation emerging at Spring Hill.
Looking Ahead
With three drill rigs active on site and assays pending from several holes, PC Gold is poised to refine its resource model further and advance feasibility studies. The company’s methodical approach to exploration and development underscores its commitment to unlocking the full potential of Spring Hill.
Bottom Line?
PC Gold’s latest drilling success at Spring Hill sets the stage for a potentially transformative resource upgrade and accelerated project development.
Questions in the middle?
- How will pending assay results from recent drill holes impact the resource model?
- What timeline is PC Gold targeting for completing the Phase 2 drilling and updating the MRE?
- How might the new Macau Extension Target influence the overall project economics and mine plan?