The Central Target – 2.5km north of the Southern Target – also chipped in with solid assays, including 10m grading 0.8g/t gold from 121m, 2m running at 4.2g/t from 55m and 17m at 0.3g/t from 76m. Together, the results confirm broad areas of shallow mineralisation, with bonus high-grade lodes.
Outside its core targets, Pacgold has been busy chasing opportunities across a string of regional prospects. Assays from its Posie prospect, near the northern edge of the tenements, are still in the lab, while results from The Shadows in the south are being pieced together. In the meantime, the rigs are hard at work on Victoria and Jerry Dodds – also in the south – chasing down extensions of last year’s promising air core anomalies.
Pacgold also drilled four diamond holes for a total of 617m – two at Central and two at Posie. The core is already proving useful for understanding the structure and for future testing. Notably, the Posie holes delivered the first fresh core ever taken from the area and could be the key to understanding its geology.
With the current round of drilling nearing completion, Pacgold will move its rigs further south to kick off a maiden drilling program at the company’s White Lion target – described by management as one of its most exciting targets in its entire project area.
Pacgold Limited managing director Matthew Boyes said: “White Lion is the most compelling target I have seen developed to date with a chargeable body measuring up to 1.2km in strike and 500m in width some 50-80m below surface.”
Pacgold has also wrapped up its regional air core program, completing 432 holes for 4608m. Those assays, due within weeks, are expected to serve up yet another batch of fresh targets for the drill bit later this year.
With broad mineralised zones, juicy high-grade lodes and a looming crack at White Lion, Pacgold looks set to keep the market on edge as Alice River continues to show its golden hand.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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