PACGOLD BEGINS 6,000M DRILL PROGRAMME AT ALICE RIVER

Exploration at Alice River set to unlock mineralised system potential

Queensland-focused gold explorer, Pacgold Limited (ASX: PGO), has announced the arrival of an aircore drill rig to commence a 6,000m bedrock geochemical drilling programme at its 100%-owned Alice River Gold Project, located 300km northwest of Cairns, Queensland.

The drill programme is designed to test a 14km mineralised corridor with geophysical and structural targets. Pacgold aims to unlock the size potential of the project’s overall mineralised system, which will generate multiple follow-up drill targets for the 2025 exploration season.

Following a comprehensive cultural heritage assessment and ground disturbance monitoring, drilling has now started. The company expects the programme to take 30 days to complete and is awaiting confirmation on the availability of an RC rig to conduct an additional 3,000m of reverse circulation drilling.

Pacgold’s Managing Director, Matthew Boyes, commented:

We are now ready to commence drilling of the 800+ holes in this programme and look forward to sharing results later in the quarter. This Aircore programme used in conjunction with the geophysical data and a regional mapping programme will form the foundation for an extensive regional scale RC exploration campaign in the 2025 field season.

Demonstrating regional scale potential and the possibility to replicate the already exceptional drill results from the central zone will further demonstrate Pacgold’s potential. I feel the Alice River project is one of the more exciting early stage gold exploration assets in Australia at the moment and the next 12 months for Pacgold will be extremely active with substantial news flow for investors on multiple fronts.