Pilbara Gold’s latest drilling has extended broad gold mineralisation as much as 200 metres below parts of its 2.1Moz Mt York resource, strengthening the case for an updated estimate ahead of a prefeasibility study. Roe Hills has also produced wide, high-grade hits, but both growth stories still depend on further drilling, assays and resource modelling.
- 50m at 1.05g/t gold from 307m at Main Hill
- Breccia Hill intercept extends 200m below current resource
- 43,541m of Mt York drilling completed in 2026
- Terra results outline a 1.5km to 2km gold corridor
- $17.75m cash balance at 30 September 2026
Mt York drilling pushes beyond the resource boundary
Pilbara Gold Limited (ASX:PGL) has put fresh depth behind its resource-growth story, with drilling at Mt York returning broad gold intercepts beneath the current resource pit shell. At Main Hill, hole 26MYRCD076 returned 50 metres at 1.05g/t gold from 307 metres, including 23 metres at 1.60g/t, while hole 26MYRCD078 returned 28 metres at 1.17g/t from 359 metres.
The deeper result at Breccia Hill is potentially just as important for the shape of the geological model. Hole 26MYRCD034A intersected 31 metres at 1.01g/t from 323 metres, including 7 metres at 3.13g/t, approximately 200 metres below the current resource boundary. Pilbara Gold says the results confirm that mineralisation remains open at depth along the 4.2-kilometre banded iron formation trend, although the reported intervals are downhole lengths and do not necessarily represent true widths.
The new drilling adds to a substantial body of work already completed this year. Pilbara Gold had drilled 43,541 metres at Mt York by the end of the September quarter, with results across Main Hill, Main Hill Extension, Gossan Hill and Breccia Hill. Earlier results had already indicated mineralisation continuing below the existing model, as reported in the September Mt York drilling, and the company is now using infill drilling to support conversion of Inferred resources to Indicated resources.
Resource update remains the key test
Pilbara Gold’s current Mt York resource stands at 2.1 million ounces, comprising 1.38Moz of Indicated resources and 703,000oz of Inferred resources. The company is targeting an updated Mineral Resource Estimate in the first quarter of 2027, followed by a maiden Ore Reserve and prefeasibility study targeted for completion by June 2027.
The structural interpretation is doing much of the explanatory work behind the deeper targets. Oriented core has pointed to folding and faulting that may have thickened the BIF and created repeated mineralised zones at depth. That is a geological hypothesis supported by the drilling so far, not yet a new resource or mine plan. Further assays are pending, and the deeper step-out program at Main Hill and Main Hill Extension is continuing.
Roe Hills delivers a second exploration thread
Mt York is not the only source of momentum. At the Terra prospect within Roe Hills, drilling returned 46 metres at 3.17g/t gold from 92 metres, including 18 metres at 4.36g/t, as well as 4 metres at 9.91g/t from 144 metres, including a one-metre section at 33.62g/t. Results across the latest drill fences support the company’s view of a continuous mineralised corridor extending roughly 1.5 to 2 kilometres, with mineralisation still open north, south and at depth.
The Terra program follows the first Terra high-grade hits, which included the same 46-metre intersection and established the initial 1.5-kilometre corridor. Drilling remains under way at Terra and at Caliburn, three kilometres to the south, but heavy rain slowed the program and transported cover means some follow-up work may require diamond drilling rather than conventional reverse circulation drilling.
More ground secured as cash funds the campaign
During the quarter, the Mineral Rights Agreement with PLS Group became unconditional, giving Pilbara Gold rights to explore for gold and base metals across three exploration licences and one application covering 367 square kilometres, excluding lithium and tantalum. The agreement expands the exploration canvas around Mt York, while an airborne electromagnetic survey over 280 square kilometres has been completed and is awaiting processed data in the December quarter.
Pilbara Gold ended September with $17.75 million in cash after spending $9.131 million on exploration during the quarter, most of it on drilling. That balance is intended to fund 2026 drilling and feasibility work, but the immediate investment story remains assay-driven: the next resource estimate must convert encouraging intersections into a coherent, mineable inventory rather than simply add more attractive numbers to the drill database.
Bottom Line?
The next meaningful inflection point is the Mt York resource update, where depth extensions and classification upgrades will need to translate into ounces that can support the PFS. Roe Hills offers additional upside, but remains earlier-stage and assay-dependent.
Questions in the middle?
- How much of the deeper Mt York mineralisation will ultimately fall inside an updated resource model?
- Will the structural folding model continue to predict wide, repeatable zones as drilling moves along the full 4.2km trend?
- Can Terra and Caliburn establish enough continuity, thickness and grade to support a maiden Roe Hills resource?