What's Happening?
Pacgold has successfully completed its second gold pour at the White Dam Gold Project in South Australia, producing a gold doré bar weighing approximately 100 ounces. This achievement follows the aeration of both the eastern and western margins of the pad.
The company has re-crushed 20,000 tonnes of material from the existing heap leach pad for irrigation, with plans to process an additional 50,000 tonnes by the end of June. Pacgold is also conducting reverse circulation drilling at the Vertigo pit to expand resources and expedite the restart of mining operations, potentially by late 2026.
Why It's Important?
The completion of the second gold pour is a significant milestone for Pacgold, as it enhances cash flow and validates the re-crush strategy. This development is crucial for the company's plans to resume full-scale mining operations and access fresh ore. The ongoing drilling and resource expansion efforts at the Vertigo pit are aimed at increasing the project's output and profitability. The success of these initiatives could position Pacgold as a more competitive player in the gold mining industry, potentially attracting further investment and partnerships.
What's Next?
Pacgold plans to continue its drilling activities at White Dam North, with completion expected by mid-July. The company has contracted Entech to update the resource estimate for Vertigo and conduct new pit optimizations and mine designs. These efforts are part of Pacgold's strategy to restart mining operations and bring fresh oxide ore into production. The company will also participate in the Noosa Mining Investor Conference in July, which could provide opportunities for networking and securing additional investment.
