The rigs will then shift south to the Posie and Southern zones, before tackling a slew of regional targets, including Jerry Dodds, Victoria and The Shadows. More than 12km of strike length is on the cards for drill testing.
Once the reverse circulation and air core data has been crunched, Pacgold intends to call in a diamond drill to chase depth extensions. A regional air core campaign will continue to chase geochemical anomalies that hint at broader system potential.
Given the magnitude of the gold system, Pacgold says it is keen to pursue a high-stakes game of scale. The immediate goal is to convert the inferred ounces to an indicated category and expand the mineralised footprint.
Zooming out, the bigger picture appears even more compelling. Early signs suggest Alice River might not be a single deposit, but rather part of a much larger multi-million-ounce gold system.
Pacgold Limited managing director Matthew Boyes said: “Having now confirmed the mineralisation style is robust, we have been able to demonstrate very large tonnages of gold mineralisation. We still have an enormous area to explore with multiple high priority targets waiting to be drill tested all along the nearly 30km of the known Alice River fault.”
The Alice River project sits within the prolific North East Queensland mineral province, which is also home to tier-one deposits such as Ravenswood, Kidston and Pajingo. Pacgold’s tenements straddle a 30km mineralised corridor hosted within the Alice River fault zone, a structure interpreted to host intrusion-related gold systems.
The project’s geological framework points to a major epizonal intrusion-related system, with strong structural and geochemical similarities to global giants, such as the Fort Knox gold mine in the United States and the Hemi discovery in WA.
With the rigs humming, geophysics lighting up the ground and a breakout maiden resource already in the bag, Pacgold is setting a cracking pace at Alice River. The company’s drill bit is chasing far more than just ounces – it’s chasing scale, momentum and, potentially, a place among Australia’s next major gold discoveries.
Pacgold’s growing pipeline of high-priority targets and a relentless exploration agenda appears to have primed the punters to stay on their toes as the company pushes Alice River toward multi-million-ounce territory.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
