Pacgold Limited (ASX: PGO) has intersected high-grade gold zones with exceptional continuity in drilling, including zones containing bonanza gold grades from the company’s Alice River Gold Project in Queensland.
To date, 26 drill holes (diamond (DD) and reverse circulation (RC)) have been completed on the Central Target in the current programme, with assay results pending for 13 drill holes targeting the F1a zone.
The current drilling programme of 17,500m is ~60% advanced with 5,472m RC and 5,300m DD completed. Approximately 80% of the drill programme will focus on the F1a zone (Central Target) with the remaining 20% to investigate other areas within the Southern and Northern Targets.
F1a Zone Drilling
As anticipated, bonanza-grade gold was intersected in ARDH051 with the occurrence of coarse visible gold in the drill core. ARDH051 targeted the up-plunge projection of the drill intersection of 40m @ 3.0g/t Au incl. 6m @ 17.5 g/t Au (incl. 1m @ 79.1g/t Au which contained visible gold) in ARDH0272.
ARDH051 intersected the mineralised zone approximately 60m up-plunge from ARDH027, returning a broad zone containing high-grade gold:
• 24m @ 8.0g/t Au from 168m, incl. 1.9m @ 87.0g/t Au from 168m incl. 1.1m @ 136.5g/t Au from 168.8m
The assay results for ARDH051 define excellent continuity of bonanza- grade gold zones over at least 60m distance between ARDH027 and ARDH051. The gold intersections in these holes form part of a larger, continuous, high-grade gold zone containing intersections of 10g/t Au or greater and extending from the base of the shallow historical open pit to a depth of 520m below surface (drill hole ADRH050).
Drill hole ARDH050 represents the deepest hole completed on the project and intersected high-grade gold:
• 4m @ 10.3g/t Au from 571m incl. 1m @ 32.8g/t Au from 573m
Step-out drill hole ARDH045 returned high-grade results including: • 4.7m @ 5.8g/t Au from 348m incl. 1m @ 10.6g/t Au from 349m
ARDH045 represents a significant step-out of 200m targeting the down-plunge projection of the drill intersection of 40m @ 3.0g/t Au incl. 6m @ 17.5 g/t Au in ARDH0273 and is located 80m to the south of drillhole ARDH040 and approximately 330m below surface. This drill hole provides excellent early support for the steep southern plunge geometry on the gold system.
Definition drilling is being planned to close up the current wide-spaced drill density and provide data for ongoing refinement of the geological and structural model.
“Bonanza intersections of 1.9m @ 87.0g/t Au represent the highest gold grades defined by Pacgold to date on the F1a zone and this particular intersection forms part of a continuous high-grade zone which extends from surface to a depth of 520m, remaining open at depth,” Managing Director, Tony Schreck, said.
“Based on the similarities with the Donlin gold model (Tier-1 gold deposit in Alaska), we expect the high-grade zones to continue to extend at depth over a significant vertical distance.
“This has the potential to contribute materially towards a JORC Resource.
Multiple high-grade zones (or shoots) are now being revealed along a 400m strike length where wide-spaced drilling has so far been completed. The F1a zone is defined over 1.5km which forms a portion of the priority 7km corridor encompassing the Central, Southern and Northern Targets.
“Our drilling strategy to date has been focused on the Central Target, where we have achieved exceptional results that provide an excellent opportunity to potentially define a material-sized JORC Resource.”
For further information please visit: https://pacgold.com.au/
