Pacgold Accelerates Exploration Down Under: Drill Success, Funding and Regional Targets


 

Pacgold Limited is rapidly advancing its Alice River Gold Project in North Queensland, combining strong early drill results with proactive funding and a multi‑target regional strategy.

Initial RC drilling at the Central Target has yielded encouraging results, including 48 meters at 2.1 g/t Au, featuring 2 meters at 29 g/t, as well as a 50‑meter section at 1 g/t from surface. Nearby, a 26‑meter intersection at 1.1 g/t, with 11 meters at 1.6 g/t, and other shallow hits including 13 meters at 2 g/t and 18 meters at 1.1 g/t—the latter containing 3 meters at 3.4 g/t—all point toward both scale and grade potential.

The company’s maiden JORC Resource underpins this potential: 474,000 ounces indicated and inferred (12.2 Mt at 1.2 g/t Au), with a total global resource estimated at 854,000 ounces (26.7 Mt at 1.01 g/t Au). Notably, just 5% of the project’s strike has been drilled, highlighting enormous growth opportunities.

Supporting the exploration drive is a freshly raised AU$5.6 million, bringing total capital to over AU$6.5 million. The funds will underwrite an ambitious campaign including 12,000 m of RC drilling, 3,000 m of diamond drilling, and 5,000 m of aircore drilling, reinforced by geochemical and geophysical surveys.

Beyond the Central Target, Pacgold is advancing regional prospects—testing Victoria, The Shadows, Posie, Jerry Dodds, and the intriguing White Lion—identified via comprehensive aircore drilling and magnetic geophysics

Overall, Pacgold’s strategic execution—backed by drilling success, solid finances, and coordinated regional targeting—positions Alice River as one of Australia’s most compelling underexplored gold opportunities.

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