Pacgold (ASX:PGO) Identifies Significant Geophysical Anomaly at White Lion Prospect
Geophysical Discovery
Pacgold Limited (ASX:PGO) has identified a significant circular magnetic anomaly over 1km in diameter at the White Lion Prospect within the Alice River Gold Project. The anomaly coincides with a discrete potassium radiometric high and lies on the margin of an IP chargeability anomaly. Historical drilling less than 500m north of the site intersected gold from the surface.
Future Plans
The company plans to conduct an IP program, including Gradient array and Pole-Dipole surveys, at White Lion during June-July this year. Additionally, Pacgold has submitted a heritage clearance application and expects to commence drilling in early Q4 2025.
Executive Comments
Managing Director Matthew Boyes commented, “This anomaly clearly demonstrates how much potential this project holds for the discovery of a multimillion-ounce tier 1 gold asset. Reprocessing of airborne magnetic data has developed a very interesting large-scale target with obvious similarities to the world-class Mt Leyshon deposit located 500km to the south in a very similar geological setting as what we see here at Alice River. This year is a pivotal year for Pacgold and the more targets we develop with the drilling season about to commence, the greater our pipeline of potential success becomes.”
Motley Fool contributor Aaron Shaw 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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