Historical shallow drilling from the 1980s at White Lion hit anomalous gold, including 20m at 0.4g/t from surface. However, the company says that the heart of this geophysical beast remains untouched by the drill bit, leaving Pacgold with a high-stakes shot at uncovering a multi-million-ounce system.
“The definition of such a compelling geophysical target at White Lion is highly encouraging…”
Pacgold Limited managing director Matthew Boyes
A broader gradient array IP program mapped a 9km stretch of the fault zone, unearthing several resistivity low anomalies interpreted as dilation zones – structural sweet spots for gold mineralisation to flow into gaps, much like those hosting the company’s 470,000-ounce Central and 317,000-ounce Southern prospects.
The zones were previously hidden under sand cover and are now on the radar for reconnaissance mapping in the coming weeks with the potential to spawn a new wave of drill targets to the company’s already extensive list.
The upcoming White Lion program will see 10-12 RC holes, each around 200m deep, probing the core of the chargeability and magnetic anomalies. The textbook geophysical signature and shallow depth could be the key to unlocking a district-scale prize.
If the IRGS analogy holds, Pacgold might be on the verge of Queensland’s next major gold discovery. As the September drilling program looms the market will be watching on with interest to see if this ‘X marks the spot’ moment can dig up the next tier-one gold discovery.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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