| Announcement Date: | 2022-02-14 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Pacgold Ltd. |
| Project name: | Alice River |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 43m @ 3.0g/t Au from 214m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Pacgold Limited (ASX: PGO) (‘Pacgold’ or the ‘Company’) is pleased to provide the remaining drilling assay results following completion of the diamond (‘DD’) and reverse circulation (‘RC’) drill programme at its Alice River Gold Project (‘Project’) in North Queensland, where a total of 39 holes were completed (2,007m DD and 5,018m RC). Pacgold has now received the results for the remaining 14 holes of our first drill programme (initial assay results were reported to the ASX on 8 and 10 November 2021, and 12 January 2022). Central Target – F1a Zone The latest assay results from the 2021 drilling continue to define robust high-grade gold zones within the broader F1a zone. Figure 1 shows a long section through the area of focus on the F1a target zone. Based on Pacgold’s wide-spaced drilling, there are strong indications that the gold grades within the system are increasing with depth, and this is supported by our geological interpretation. Two of the highest-grade intersections, 6m @ 17.5g/t Au (ARDH027) and 17m @ 9.3g/t Au1 (ARDH026), are both open at depth approximately 200m below surface and highlight outstanding potential for the system to continue at depth. |
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