PC Gold Uncovers New High-Grade Zones at Spring Hill, Resource Update Imminent
PC Gold has reported robust drilling results at its Spring Hill Gold Project, revealing multiple visible gold occurrences and new mineralised zones. An updated Mineral Resource Estimate is targeted for Q1 2026, supported by a photon re-assay program and advancing pre-feasibility studies.
- Over 16,900 metres drilled during December quarter with visible gold across all zones
- New Macau Extension lodes identified with consistent elevated gold grades
- Photon re-assay program shows 55% average grade increase in historical core
- Regulatory approval granted to reopen historical underground adit for enhanced access
- Pre-Feasibility Study progressing alongside resource update and environmental assessments
Strong Drilling Momentum at Spring Hill
PC Gold Limited (ASX, PC2) has delivered a compelling start to its journey as a newly listed company, with a substantial drilling campaign at its 100%-owned Spring Hill Gold Project in the Northern Territory. During the December 2025 quarter, the company completed 39 diamond drillholes totaling 10,758 metres and 31 reverse circulation drillholes for 6,219 metres, uncovering multiple visible gold occurrences across all project zones.
The drilling program focused on exploration within the Lasagne lodes, resource definition on the Hong Kong and Macau lodes, and the newly identified Macau Extension target. Notably, high-grade mineralisation was intersected, including a standout 0.7 metres at 459 g/t gold from 89.5 metres downhole, highlighting the potential for near-surface, high-grade ore.
New Mineralised Zones and Resource Upside
Among the key discoveries is the Macau Extension lode, where consistent elevated grades were recorded over a 300-metre strike length. Drill results such as 5 metres at 4.02 g/t gold and 4 metres at 3.76 g/t gold underpin this zone’s promise. Additionally, post-quarter drilling revealed a new high-grade link zone between the Macau and Hong Kong lodes, with significant intercepts including 2.8 metres at 15.21 g/t gold and 31 metres at 1.92 g/t gold.
These findings are expected to materially enhance the upcoming Mineral Resource Estimate update scheduled for Q1 2026. The company’s photon re-assay program, which re-tested over 900 metres of historical mineralised core, demonstrated a weighted average grade increase of 55% compared to previous fire assay results, particularly in the inferred portion of the Hong Kong zone.
Advancing Infrastructure and Approvals
PC Gold secured regulatory approval to reopen the historical Spring Hill underground adit, providing direct underground access to key lodes. This development is anticipated to accelerate geological confidence, facilitate underground diamond drilling, and support conversion of inferred resources to higher confidence categories. The adit also opens potential for early mining opportunities in historically high-grade zones.
Meanwhile, pre-feasibility studies are progressing steadily, with GR Engineering Services leading technical workstreams across mining, processing, infrastructure, and environmental inputs. Environmental and sustainability assessments are underway, including fauna, hydrology, and landform disturbance studies, to support future permitting and development.
Financial Position and Corporate Developments
Since its ASX listing in October 2025, PC Gold has raised $13.35 million through its IPO and related offers, providing a strong balance sheet to fund exploration and development activities. The company has also entered a drill-for-equity agreement with DDH1 Drilling, reflecting confidence in the project and enabling continued drilling momentum.
Operationally, the company has improved onsite facilities, including accommodation and core processing capacity, enhancing productivity and efficiency. With ongoing drilling, resource modelling, and feasibility work, PC Gold is well positioned to advance Spring Hill toward production.
Bottom Line?
As PC Gold moves toward a resource upgrade and feasibility milestones, the market will watch closely for assay results and underground access progress that could redefine Spring Hill’s potential.
Questions in the middle?
- How will the photon re-assay results impact the overall Mineral Resource Estimate and project economics?
- What are the timelines and cost implications for reopening and utilising the historical underground adit?
- To what extent can the newly identified Macau Extension and link zones increase the mineable resource base?
