PC Gold Expands Spring Hill Resource 84% to 1.51Moz Gold with New Zones and Acquisitions

Resource Surge and New Mineralised Zones

PC Gold Ltd (ASX:PC2) delivered a robust quarter at its Spring Hill Gold Project, reporting an 84% increase in its global Mineral Resource Estimate (MRE) to 43.6 million tonnes at 1.1 grams per tonne gold, equating to 1.51 million ounces of contained gold. The indicated resource component surged 136% to 1.0 million ounces, reflecting a significant upgrade in confidence and scale.

This leap was underpinned by 8,653 metres of HQ3 diamond drilling across 24 holes, complemented by the commencement of a 20,000-metre reverse circulation drilling program. Notably, the Link Zone was expanded into a larger, more robust mineralised domain, delivering intercepts such as 9.5 metres at 3.04 g/t Au and 6.0 metres at 5.16 g/t Au. A newly identified Footwall Lode parallel to the Macau Zone returned impressive hits including 22 metres at 2.60 g/t Au and 2.8 metres at 9.99 g/t Au, highlighting fresh growth avenues within the deposit.

Extending High-Grade Cores and Open Mineralisation

Drilling at the Main Lode Southern Extension pushed the high-grade core approximately 120 metres beyond the existing resource boundary, with mineralisation remaining open both along strike and down plunge. Additional strong intercepts at Hong Kong included 113 metres at 1.14 g/t Au, incorporating 18 metres at 4.62 g/t Au, which further supports the potential for resource growth beyond the current model. These results confirm that a majority of the reported drill intercepts are yet to be integrated into the updated resource model, suggesting further upside as assays are incorporated.

The Link Zone's mineralisation is characterised by hematite and maghemite alteration with sulphides, and the company has identified new prospective targets for high-grade mineralisation that will be the focus of upcoming drilling campaigns.

Strategic Acquisitions to Support Development

Beyond exploration, PC Gold completed the acquisition of the former Territory Iron camp at Pine Creek in July 2026, securing a fully serviced accommodation and support facility just 30 minutes from Spring Hill. This 64-room camp, including office and storage infrastructure with mains power and water, is expected to reduce development lead times and capital costs, providing a ready-made operational base as the project advances.

Additionally, PC Gold entered a conditional agreement to acquire Terracore Gold Pty Ltd, which holds two granted exploration licences covering about 68 square kilometres north of Pine Creek. This tenement package, which includes historical gold mines and remains underexplored by modern methods, expands PC Gold's strategic landholding along strike from Spring Hill and adjacent to Agnico Eagle’s Union Reef processing plant. Completion of this acquisition is anticipated by August 2026, subject to regulatory approvals.

Pre-Feasibility Study and Operational Progress

Work on the Spring Hill Pre-Feasibility Study (PFS) advanced across multiple fronts including processing, mine design, geotechnical, environmental, and tailings management. Entech continued mining studies, refining open-pit designs and waste dump layouts, while geotechnical investigations established preliminary pit slope parameters and assessed historic underground workings for safe re-entry.

Environmental baseline surveys and hydrology studies commenced to support future approvals, with minor environmental incidents swiftly managed and no ongoing impacts reported. Safety performance improved, with no lost-time injuries during the quarter and ongoing initiatives targeting mobile equipment operation and site hazard awareness.

Financial Position and Outlook

PC Gold closed the quarter with a solid cash position of A$21.7 million, bolstered by a previous A$24 million placement that enabled accelerated exploration beyond initial budgets. The company remains well-funded to complete the updated MRE and PFS, with drilling continuing through the September quarter to further define and expand the resource base.

Executive Chairman Ashley Pattison highlighted the productive quarter and strategic acquisitions as key enablers for Spring Hill’s development readiness, emphasising the ongoing potential for resource growth and the company’s commitment to advancing towards production.