Pacgold Limited reports strong initial assay results from its White Dam resource drilling, confirming high-grade gold and copper mineralisation consistent with existing models and supporting a resource upgrade. The company advances towards mine planning and production in 2026.
- 85% completion of Vertigo Mineral Resource drilling with 8,003m drilled
- Initial assays confirm high-grade gold and copper consistent with resource model
- Second rig mobilised for metallurgical drilling on Heap Leach pad
- Resource drilling to continue through May targeting multiple prospects
- Mine planning and optimisation scheduled for Q3 2026
White Dam Drilling Progress
Pacgold Limited (ASX: PGO) has rapidly advanced its resource drilling program at the White Dam Gold Project in South Australia, with 85% of the Vertigo Mineral Resource Estimate (MRE) drilling completed. The company has drilled 123 reverse circulation holes totalling 8,003 metres, aiming to upgrade the resource classification from Inferred to Indicated. This upgrade is a critical step towards refining mine plans and optimising open pit designs later this year.
Encouraging Assay Results
Initial assay results from approximately 30% of submitted samples confirm high-grade gold and copper mineralisation that aligns closely with the existing MRE block model. Highlights include intercepts such as 15 metres at 1.6 grams per tonne gold and 0.48% copper from 56 metres, and narrower higher-grade zones reaching up to 5.8 grams per tonne gold. Notably, some drill holes intersected previously unmodelled near-surface mineralisation, suggesting potential for expanding the resource footprint.
Expanding Drilling and Metallurgical Work
Alongside the Vertigo drilling, a second sonic rig has been deployed to undertake metallurgical drilling on the existing Heap Leach pad. This work will provide vital data on ore grade and processing characteristics, informing future heap leach operations and potential improvements in gold recovery. Drilling is scheduled to continue through May, extending to the Hannaford Pit, White Dam North, and Rolling prospects, subject to approvals.
Pathway to Production
Pacgold’s Managing Director, Matthew Boyes, emphasised the company’s progress towards production, noting that the resource upgrade will enable updated mine optimisation studies targeted for completion in the third quarter of 2026. The company is also advancing permitting for mining at White Dam North and expanding operations at Hannaford and Vertigo pits. Operational milestones, including heap leach pad irrigation and re-crushing activities, are on track, supporting Pacgold’s transition from explorer to producer.
Strategic Significance
The White Dam acquisition provides Pacgold with a turnkey gold operation including open pits, heap leach facilities, and a processing plant, positioning the company to generate near-term cash flow. The ongoing drilling and metallurgical programs are essential to unlocking the full value of the project’s mineral resources and underpinning sustainable production growth.
Bottom Line?
With resource upgrades and mine planning advancing, Pacgold is poised to move decisively from exploration to production in 2026.
Questions in the middle?
- How will the updated Mineral Resource Estimate impact the overall gold inventory and mine life?
- What metallurgical recovery rates can be expected from the Heap Leach pad testwork?
- What are the timelines and regulatory hurdles for permitting White Dam North mining operations?