Pacgold Marks Producer Status with Maiden Gold Pour at White Dam

Maiden Gold Pour Signals Transition to Producer

Pacgold Limited (ASX:PGO) has crossed a critical threshold, pouring its first gold doré bar from the White Dam Gold Project in South Australia. The approximately 3kg bar, estimated at 80 ounces of gold, marks the company’s official move from explorer to producer less than five months after acquiring the operation. This milestone not only validates Pacgold’s Phase 1 restart strategy but also unlocks its first non-dilutive capital through gold sales, a crucial step in funding future growth initiatives.

Following significant refurbishment and recommissioning of the existing heap leach plant and mine facilities, the initial gold pour reflects production from the western edge of the heap leach pad. The doré bar has been shipped to Perth Mint Refinery for final refining and sale, with cash flow expected imminently. This development builds on Pacgold’s earlier announcement of first gold production in April, where initial heap leach stripping yielded approximately 60 ounces of gold, confirming steady plant performance and grade consistency first gold production.

Production Ramp-Up and Operational Progress

Pacgold is aggressively ramping up production, targeting a throughput of 90,000 tonnes per month via re-crushing and heap leach irrigation. Approximately 40,000 tonnes of freshly re-crushed ore has been placed under irrigation, with another 75,000 to 80,000 tonnes ready to follow. The plant refurbishment is nearing completion, pending the installation of a final CIC column to restore full circuit capacity.

Meanwhile, the company is progressing the design of a heap leach pad expansion with North American engineering firm Newfields, aiming to tender construction and liner installation works by late July. This expansion is critical to scaling operations towards Pacgold’s goal of full production in 2027.

Resource Drilling and Exploration Outlook

Drilling at the Vertigo deposit, a key resource within the White Dam Project, is complete with final assay results expected soon. These results will feed into an updated resource estimate and mine design, underpinning the planned production scale-up. However, RC drilling activities are currently paused pending approvals for White Dam North and resolution of diesel supply issues, which remain a bottleneck for operational continuity.

Pacgold has also submitted applications for drill permits across multiple exploration targets including Mary Mine, Green and Gold, Wilkins, and Wadnaminga. These drill-ready targets provide a pipeline of opportunities to extend resource growth once approvals are secured and logistics stabilised.

The Vertigo drilling campaign has previously reported promising shallow gold zones and assay results that suggest a resource upgrade is imminent, reinforcing the potential for expanded mine life and output Vertigo drilling completion.

Strategic Implications of the First Gold Pour

Pacgold’s maiden gold pour is more than a symbolic achievement; it represents a tangible shift in the company’s financial and operational profile. The first sale proceeds will provide non-dilutive capital, reducing reliance on equity markets and de-risking the project’s next phases. Managing Director Matthew Boyes highlighted the pour as a “transformative moment” that demonstrates operational efficiency and the team’s commitment to delivering on strategic milestones.

With the heap leach plant now operating strongly and production ramp-up underway, Pacgold is positioned to increase the frequency and volume of gold pours in the coming months. The company’s focus remains on optimising recovery from re-crushed ore and progressing infrastructure expansion to support higher throughput.