Visible Gold Zones Over 30m Signal Resource Upgrade Potential at Spring Hill

Strong Drill Results Reinforce Spring Hill Potential

PC Gold Limited (ASX – PC2) has delivered a promising update from its resource definition drilling program at the Spring Hill Gold Project in the Northern Territory. The company reported multiple high-grade gold intersections within the Macau and Hong Kong lodes, confirming robust mineralisation beneath the planned open pit. Notably, extensive visible gold was observed in five drill holes, with mineralised zones exceeding 30 metres in downhole width, underscoring the deposit's continuity and grade potential.

Key Assay Highlights and Visible Gold

Among the standout assay results received so far are intervals such as 2.8 metres at 15.21 grams per tonne gold, including a remarkable 0.3 metres at 124.12 grams per tonne, and a 31-metre intersection averaging 1.92 grams per tonne with higher-grade zones within. These results, alongside visual confirmation of gold in core samples, provide strong evidence of a high-grade link zone between the Macau and Hong Kong lodes. This link zone is particularly exciting as it lies within the inferred portion of the resource and may support upgrading to indicated status in the forthcoming Mineral Resource Estimate (MRE) update.

Advancing Towards Resource Upgrade and Development

The current drilling campaign, which has completed over 7,100 metres in 26 holes, is nearing completion with final assays pending for more than 5,100 samples. These results will be critical inputs for the updated MRE, expected to enhance both the scale and confidence of the resource base. PC Gold is simultaneously progressing metallurgical and geotechnical drilling to underpin feasibility studies, with environmental approvals already secured for open-pit mining operations. The company’s dual-stream strategy focuses on upgrading resource confidence through infill drilling while aggressively exploring extensions to grow the resource inventory.

Historical Context and Future Exploration

Spring Hill is a historically significant gold system within the Pine Creek goldfield, with mineralisation hosted in granted mining leases. The project benefits from a rich exploration history dating back to the late 19th century and has seen multiple phases of drilling and resource estimation. PC Gold’s recent drilling success builds on this foundation, revealing new high-grade zones and confirming the continuity of mineralisation. Looking ahead, the company plans to resume reverse circulation drilling to test extensions at Macau and the Lasagne lode, aiming to further expand the resource footprint.

Executive Commentary

Executive Chair Ashley Pattison expressed optimism about the drilling outcomes, highlighting the discovery of a new high-grade zone at Macau and near-surface visible gold at Hong Kong. He emphasised that these results exceed expectations and reinforce confidence in the Spring Hill mineralised system’s strength and continuity. The company is now focused on finalising assay results and advancing the MRE update as a key milestone on the path toward production.