Pacgold Unveils High-Priority Kapok Gold Target with Strong 2025 Drilling Results

• Maiden aircore drilling at Kapok reveals continuous gold mineralisation over 50m corridor
• Notable intercepts include 15m at 0.38g/t Au starting from surface
• Victoria Prospect drilling extends known gold zones and defines new geochemical anomalies
• 2025 program completed 118 RC holes and 434 aircore holes across multiple prospects
• Follow-up RC drilling planned for Kapok in Q2 2026 after wet season

Exploration Breakthrough at Kapok Prospect

Pacgold Limited (ASX, PGO) has announced significant progress in its 2025 exploration campaign at the Alice River Gold Project in northeast Queensland. The maiden shallow aircore drilling at the previously untested Kapok Prospect has returned encouraging results, revealing a corridor of gold mineralisation over 50 metres wide. Highlights include intercepts such as 15 metres at 0.38 grams per tonne (g/t) gold from surface, including a higher-grade 4 metres at 0.70 g/t from 4 metres depth.

Located within the northern section of the Alice River Fault Zone, Kapok had not been drilled before this program. The discovery of multiple gold-bearing quartz veins in all five initial aircore holes suggests the mineralised zone remains open along strike and at depth. This positions Kapok as a high-priority target for more detailed reverse circulation (RC) drilling planned for the second quarter of 2026, once access resumes after the North Queensland wet season.

Extending Gold Mineralisation at Victoria Prospect

Alongside Kapok, Pacgold’s regional drilling at the Victoria Prospect has also delivered promising outcomes. The 2025 aircore and RC drilling programs extended the known gold mineralisation defined in 2024, delineating new gold-arsenic-antimony geochemical anomalies over a strike length exceeding 15 kilometres along the Alice River Fault Zone. The RC drilling, comprising 20 angled holes over 2.4 kilometres, intersected low-level gold mineralisation hosted in basement quartz veins beneath shallow cover, warranting further infill drilling in 2026.

Comprehensive 2025 Drilling Program

The 2025 drilling campaign was extensive, with 118 RC holes totaling 12,586 metres and 434 aircore holes totaling 4,608 metres completed. While results from the Central Target, Southern Target, Shadows, and Posie Prospects have been previously reported, this announcement focuses on the new data from Kapok, Victoria, and Shadows. Assay results from the White Lion and Jerry Dodds Prospects are awaited and expected to provide further insights into the project’s potential.

Pacgold’s Managing Director, Matthew Boyes, expressed optimism about the project’s trajectory, noting that the recent drilling continues to enhance understanding of the gold system and adds confidence to the prospect of a major discovery at Alice River. The company’s strategy to advance exploration while preparing for production is underscored by its acquisition of the White Dam Gold Operation in South Australia, which offers near-term revenue potential.

Looking Ahead

With the Alice River Gold Project covering a vast 377 square kilometres and hosting a large intrusion-related gold system, Pacgold’s 2025 results mark a significant step forward. The delineation of multiple new targets and the extension of mineralised zones along the Alice River Fault Zone provide a strong foundation for ongoing exploration. The company plans to continue its drilling programs in 2026, aiming to define additional gold resources and refine the economic potential of the project.

Bottom Line?

Kapok’s maiden drilling success sets the stage for a pivotal 2026 exploration season at Alice River.

Questions in the middle?

• What will the upcoming RC drilling at Kapok reveal about the depth and strike continuity of mineralisation?
• How will assay results from White Lion and Jerry Dodds prospects influence Pacgold’s resource estimates?
• What metallurgical characteristics and recovery rates can be expected from the newly identified mineralisation zones?