What is the story about?
What's Happening?
Pacgold has commenced a maiden drilling program at the White Lion prospect within its Alice River Gold Project in North Queensland. The company plans to conduct 1,460 meters of drilling across 10 reverse circulation holes, targeting a high-intensity induced polarization (IP) chargeability anomaly. The drilling aims to explore geophysical anomalies identified through gradient array and pole-dipole IP surveys, with results expected by late October.
Why It's Important?
The drilling program represents a significant milestone for Pacgold as it seeks to uncover potential gold mineralization at the White Lion prospect. Successful exploration could enhance the company's asset portfolio and contribute to its growth in the Northeast Queensland Mineral Province. The program's outcomes may influence future drilling decisions and strategic planning, impacting Pacgold's position in the mineral exploration industry.
What's Next?
Pacgold will evaluate the results of the drilling program to determine the feasibility of further exploration. A diamond drill rig is available for deeper drilling if justified by the findings. The company remains focused on developing its assets in North Queensland, with potential discoveries at White Lion offering opportunities for expansion and increased shareholder value.
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