Pacgold Limited (ASX:PGO) Unveils 12km Gold Anomaly at Alice River
Geochemical Anomaly
Pacgold Limited (ASX: PGO) has delineated a continuous gold-arsonic-antimony anomaly stretching over 12km along the Alice River Fault Zone at its Alice River Gold Project in North Queensland. This anomaly remains open to both north and south, indicating substantial exploration potential.
Drilling Program
The company has planned an extensive Reverse Circulation (RC) drilling programme set to commence in early April, with the first rig already onsite. This programme will test all new high-priority anomalies identified from recent aircore drilling, along with follow-up drilling on previously high-grade Central and Southern Targets. Additionally, an Induced Polarisation (IP) programme will begin in May to explore further extensions of the Alice River and Posie Fault Zones.
Project Growth and Financial Position
The 2025 drill season aims to demonstrate the significant growth potential of the local mineralisation, targeting a large intrusive-related gold system capable of hosting a multimillion-ounce gold deposit. Pacgold maintains a strong financial position with over AUD $3 million in funds and no debt, ensuring robust support for its exploration activities in the coming year.
Executive Comments
Managing Director Matthew Boyes stated, “The final results from the latest drilling campaign at Alice River have again demonstrated the extensive scale of the Alice River gold system. The 2025 programme will demonstrate to our shareholders the size and future growth potential which I believe exists at the Alice River project this year.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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