Pacgold has commenced operations at its newly acquired St George gold-antimony project located in North Queensland. The company has initiated a first-pass regional soil sampling program covering approximately 25 square kilometres. This step follows the identification of visible stibnite at multiple prospects, setting the stage for subsequent geophysical surveys and initial drilling efforts.
The exploration team has already surveyed the Fence, St George, Poppy, and Ridgeline prospects, where they documented extensive outcropping antimony mineralisation. Notably, structured formations trending north-northwest have been delineated over a strike length exceeding 500 metres in various locations. With a dedicated geochemical crew on site, Pacgold is actively mapping a 9-kilometre stretch to identify gold-antimony and pathfinder anomalies, with plans for pole-dipole and gradient induced polarisation (IP) surveys scheduled for early October over the most promising targets.
Pacgold aims to begin drilling at St George before the end of the year. This initiative is a rapid follow-up to an agreement made in August 2023, which allows Pacgold to earn up to 100% ownership of the St George project, encompassing a total of 905 square kilometres. Due diligence samples taken from artisanal workings at the historic St George mine revealed exceptional antimony concentrations, with figures reaching 66.6%, 51.9%, and 49.4%, alongside notable gold results peaking at 10.1 grams per tonne.
In addition to these findings, Pacgold has completed a heritage clearance over more than 500 metres of mineralised strike, which is now considered drill-ready. Antimony’s designation as a “critical mineral,” coupled with a supply chain largely controlled by China, has kept the metal in high demand. When the deal was signed, prices for antimony were approximately US$60,000 per tonne, or A$91,000.
St George is situated within Queensland’s Hodgkinson province, a region rich in mineral resources that includes the Palmer River and Hodgkinson goldfields. Pacgold’s initial work at St George aligns with a standard exploration strategy: utilizing soil samples to establish a geochemical footprint, followed by mapping to identify structural controls, and implementing IP surveys to pinpoint sulphide-rich zones beneath shallow cover.
As Pacgold advances its St George project, the company is simultaneously progressing with its flagship Alice River gold project located to the northwest. This season, the crew has completed over 15,000 metres of drilling and recently launched a maiden reverse circulation (RC) program at the unexplored White Lion target. White Lion is characterized by a 1-kilometre-scale magnetic anomaly, accompanied by a significant high-intensity IP chargeability anomaly, which peaks at approximately 38 millivolts against a background of less than 8 millivolts at depths ranging from 50 to 250 metres.
The plan includes ten RC holes totaling 1,460 metres across four lines, strategically positioned to penetrate the heart of the anomaly south of the Alice River Fault Zone. This regional exploration complements an Alice River project that already boasts a maiden JORC-compliant resource of 12.2 million tonnes at 1.2 grams per tonne gold, equating to approximately 474,000 ounces at a 0.5 grams per tonne cut-off within engineered pit shells, contributing to a global resource of 26.7 million tonnes at 1.01 grams per tonne for a total of 854,000 ounces.
The ongoing RC and diamond drilling programs at both Central and Southern targets, along with emerging satellite targets such as Posie, Victoria, and Jerry Dodds, are designed to expand the existing resource base and enhance confidence in the potential of the wider fault system. Pacgold’s aggressive exploration strategy signals a commitment to advancing both the St George and Alice River projects, positioning the company for future growth in the competitive gold and antimony markets.
