PACGOLD REVEALS NEW GOLD STRUCTURES

Discovery Alongside Alice River Fault Zone Indicates Potential Gold Deposits

Pacgold Limited (ASX:PGO) Pacgold’s exploration has struck gold, with reconnaissance Reverse Circulation (RC) drilling at Pose and Jerry Dodds prospects revealing new, large-scale gold-mineralized structures, akin to the high-grade Alice River fault zone. The Pose Prospect showcases potential over a 2km stretch within a 50m true width fault zone, primarily under cover. Similarly, the Jerry Dodds Prospect has undergone a wide-spaced drilling program, uncovering shallow gold mineralization across a strike length of over half a kilometer, open in all directions. The initial drilling has yielded promising results, including gold intersections of 16m at 0.6g/t from 16m downhole depth.

The results from this preliminary drilling have confirmed similarities to the high-grade gold zones at the Central Target (F1a zone), suggesting the presence of extensive gold structures.

Pacgold’s Managing Director Tony Schreck comments on the results, expressing enthusiasm for the project’s future:

“The confirmation of two new major gold mineralised structural zones (Posie and Jerry Dodds) sub-parallel to the high-grade Alice River fault zone is an important milestone as we continue to demonstrate the potential for the project to host multiple gold deposits. What is particularly exciting with these shallow, wide-spaced, RC drilling results are the similarities they have with the shallow drilling above the high-grade gold zones defined at the Central Target (F1a zone).”

“Our primary focus is to continue to apply our tried and tested targeting methodology on a district scale to define multiple gold deposits on the Project which have potential to contain significant gold resources within extensive structures. The results from this wide-spaced shallow RC programme represents further confirmation of this approach and reinforces our exploration strategy for 2024.”

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