Announcement Date: 2022-11-21
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Pacgold Ltd.
Project name: Alice River
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 1m at 61.2g/t Au from 116m
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 an update of recently received drilling assay results from the Company’s Alice River Gold Project (‘Project’). During the 2022 programme, 40 drill holes (diamond (‘DD’) and reverse circulation (‘RC’)) have been completed on the Central Target, with assay results still pending for four drill holes targeting the F1a & F1b zones within the Central Target. Additionally, two DD holes were completed on the Southern Target with assay results pending for both holes. A total of 5,785m RC and 6,832m DD (40 holes) were completed on the Central Target and 407m DD (2 holes) completed on the Southern Target during the recent programme. Drilling has currently paused on the Project, to allow for data compilation, technical assessment and planning for the next phase of drilling, expected to recommence in late Q1 2023 (following the wet season). An expanded IP geophysics survey is currently 50% complete on the Project, aimed at defining an additional 7 km of extensions along the Alice River shear zone. F1a Zone Drilling Update Assay results for 17 drill holes targeting the F1a zone (Central Target) are reported with results providing several key advances for the Project: Discovery of a fourth high-grade gold shoot, 200m north of the historical open pit based on wide-spaced drilling (open). Latest results include
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