PC Gold has reported multiple thick, high-grade gold intercepts from drill hole MS-011, extending the Main Zone strike at its Spring Hill Gold Project by 120 metres to the south. This discovery opens up significant potential to increase resource size and improve project economics within the existing pit shell.
- Multiple thick high-grade gold intercepts from drill hole MS-011
- Main Zone strike extended 120m south beyond current ~400m length
- Resource drilling underway targeting up to 500m southern strike extension
- Phase 1 drilling program approved for 7,800m across 18 holes
- Mineralisation remains open along strike and at depth within pit optimisation shell
Extending the High-Grade Core
PC Gold Ltd (ASX:PC2) has announced a significant breakthrough at its Spring Hill Gold Project in the Northern Territory, with drill hole MS-011 returning multiple thick zones of high-grade gold mineralisation. These results extend the Main Zone strike length by 120 metres to the south, beyond the previously defined ~400 metre strike length in the current Mineral Resource Estimate (MRE).
The intercepts include standout intervals such as 15 metres at 5.09 grams per tonne gold, featuring a 1 metre section grading an exceptional 64.65 grams per tonne. Other notable intercepts include 17 metres at 0.93 g/t and 10 metres at 2.77 g/t gold, confirming the continuity and robustness of the mineralised system.
Strategic Implications for Project Economics
Crucially, this southern extension lies within the footprint of the existing pit optimisation shell but was previously classified as waste due to limited drilling coverage. The conversion of this material into mineralised ore is expected to materially enhance the project's economics by increasing contained gold and reducing the strip ratio, particularly in the early stages of mining when capital expenditure is highest.
Executive Chairman Ashley Pattison highlighted the significance of these findings, noting that the Main Zone remains open both along strike and at depth. The close spatial relationship with the Hong Kong Lode presents a compelling opportunity to scale up the project and unlock operational efficiencies.
Ongoing Drilling and Exploration Plans
Resource definition drilling commenced in December 2025, focusing on the southern extension of the Main Zone and the newly identified eastern sheeted vein zone. A Phase 1 drilling program has been approved, targeting 7,800 metres across 18 holes, with eight holes completed to date and assay results pending in early Q2 2026.
Two rigs are currently prioritised to drill the Link Zone for inclusion in the upcoming resource update, after which drilling will resume at the Main Zone South area. Geological reinterpretation suggests up to 500 metres of additional southern strike potential remains largely untested, with much of this lying within the current pit shell.
Context Within Spring Hill’s Development
The Spring Hill Project hosts a JORC-compliant Mineral Resource Estimate of 25.6 million tonnes at 1.0 g/t gold, positioning PC Gold well on its path toward production. The project benefits from granted mining leases and environmental approvals for open-pit mining, enabling a streamlined development timeline.
PC Gold’s dual-stream strategy of infill drilling to upgrade resource confidence alongside aggressive extensional exploration is clearly bearing fruit. These latest results underscore the potential to grow the resource inventory significantly while enhancing the quality of the high-grade core zones that underpin project value.
Bottom Line?
As PC Gold pushes deeper into the southern extension, the Spring Hill Project’s resource and economic profile look set for a meaningful uplift.
Questions in the middle?
- How will the pending assay results from the remaining drill holes influence the updated resource estimate?
- What are the implications of the southern extension for the timing and scale of underground mining operations?
- How might these new high-grade zones affect the overall project’s capital expenditure and cash flow forecasts?