PC Gold’s Spring Hill Drilling Surpasses Expectations, Bolsters Resource Prospects

Link Zone Delivers High-Grade Surprises

PC Gold Limited (ASX:PC2) continues to unlock the potential of its Spring Hill Gold Project with diamond drilling results that substantially outperform local grade models. The standout Link Zone has produced intercepts such as 2.0m at 8.0 g/t Au in hole MS-007, 234% above the expected 2.4m at 2.39 g/t Au, and 2.97m at 6.13 g/t Au in MS-002, which is 80% higher than modelled grades. These results not only confirm the continuity of high-grade mineralisation but also highlight the zone’s potential for significant grade uplift in the upcoming Mineral Resource Estimate (MRE) update targeted for late 2026.

Drilling continues aggressively in the Link Zone with two rigs focused on infill and strike extensions, supported by specific gravity testwork on 426 samples to address possible under-reporting of tonnage due to density variations. This testwork is crucial given the hematite and maghemite dominance in the domain, which may influence bulk density assumptions currently applied in the resource model.

Robust Results Across Main Zones

Beyond the Link Zone, the Main Zone South and Hong Kong lode have delivered their own share of encouraging results. Main Zone South’s MS-026 returned 8.3m at 6.98 g/t Au from 353m, while MS-030 hit two high-grade intervals of 4.5m at 4.5 g/t Au and 3.0m at 7.5 g/t Au, both comfortably exceeding modelled grades. Similarly, the Hong Kong lode shows broad mineralised zones with materially higher-grade internal intervals than the current MRE suggests, reinforcing the view that the resource may be underestimating localised grade concentrations.

Executive Chairman Ashley Pattison emphasised the value of these findings, noting that “drilling in all three Zones has returned grades well above local model expectations while confirming the continuity and scale of the mineralised system.” With four rigs active across resource enhancement, extensions, and exploration, including targeting the Macau Extension and Eastern Zone, the company is methodically converting Inferred Resources to Indicated status while expanding the deposit’s footprint.

Strategic Resource Enhancement and Next Steps

The current drilling program is part of a broader strategy to upgrade resource confidence and support a transition toward reserves and eventual production. The infill drilling aims for a 50m by 50m spacing in the northern Link Zone to solidify geostatistical support for the high grades encountered, particularly between holes 22HK007 and SDH25-027, where previous drill density was limited.

Ongoing reviews of modelling techniques have identified additional high-grade domains such as the Eastern Lode, suggesting that further refinement of the resource model is underway. The company plans to incorporate new drilling data into Cube Consulting’s resource model, with the updated MRE expected in late 2026.

Notably, PC Gold is advancing all modifying factors necessary for future development, including mining, metallurgy, infrastructure, and permitting, in parallel to ensure a streamlined path to feasibility and production. This multi-faceted approach underlines the company’s commitment to moving Spring Hill from exploration to production readiness.

Technical Rigor and Historical Context

The drilling and assay methods adhere strictly to the JORC Code, with diamond core samples sawn in half and assayed using state-of-the-art 500g photon assays to account for coarse gold mineralisation. The program builds on a rich exploration history dating back to the late 19th century, with modern drilling campaigns refining and expanding the known mineralisation envelope.

With a current JORC-compliant Mineral Resource Estimate of 43.6 million tonnes at 1.1 g/t Au for 1.5 million ounces, the recent drilling results suggest meaningful upside potential for both grade and tonnage. The company’s ongoing resource enhancement and exploration drilling campaigns are designed to capture this upside ahead of the forthcoming MRE update.