Pacgold Achieves Maiden Gold Production at White Dam, Advances to Producer Status

Maiden Gold Production Marks Transition to Producer

Pacgold Limited (ASX:PGO) has announced its first gold production from the White Dam Gold Project, located 80 kilometres east of Broken Hill in South Australia's Olary Province. This milestone signifies the company's transition from exploration to production, with approximately 2 kilograms (circa 60 ounces) of gold recovered from the initial 14 days of heap leach operation following plant recommissioning. The gold is currently stripped and ready for smelting, with three additional strip cycles planned before the first Doré product shipment expected around the end of April 2026.

Plant Upgrades and Operational Efficiency

Significant refurbishment has been completed on the heap leach plant and mine facilities, including upgrades to the Carbon-in-Column (CIC) tanks. Four of the five main CIC tanks have been fully refurbished and are operating at over 95% efficiency, facilitating effective recovery of gold from the pregnant solution pond. New power generation units have been installed and commissioned, and repairs to the strip circuit and electrowinning cells have improved plant availability. The plant is currently ramping up flow rates to reach nameplate capacity as more re-crushed ore is brought under irrigation.

Re-Crushed Ore and Heap Leach Pad Expansion

Another operational milestone is the introduction of re-crushed ore from the top lift of the heap leach pad now under irrigation. The screening and crushing circuit is steadily increasing output, currently producing approximately 1,500 tonnes per day, with a target throughput of 80,000 to 90,000 tonnes per month. Concurrently, Pacgold has engaged Newfields engineers from Nevada, USA, to design an expansion of the heap leach pad to add an additional 4 million tonnes of ore leaching capacity. This redesign is on schedule for completion by July 2026, after which construction and liner installation tenders will be issued.

Exploration and Resource Development Activities

Exploration drilling at the Vertigo deposit within the White Dam project area is complete, with final assay results expected within two to three weeks. These results will inform an updated resource estimate and mine design as part of the planned expansion to full production in 2027. Meanwhile, reverse circulation (RC) drilling is paused pending approvals for White Dam North and resolution of diesel supply logistics. The company has submitted applications for drill permits across multiple exploration targets, including Mary Mine, White Dam North, Green and Gold, Wilkins, and Wadnaminga, positioning Pacgold with several drill-ready prospects once approvals are granted.

Pacgold's recent operational progress builds on earlier developments such as the commissioning of heap leach pad crushing and ramp-up activities, as detailed in their prior update on the Vertigo drilling program and production preparations heap leach pad crushing commissioned.