What's Happening?
Pacgold has successfully completed its second gold pour from 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 on the pad.
The company has not introduced any newly leached gold in leachate to the pad base since irrigation began on the re-crushed material. Pacgold has re-crushed 20,000 tonnes of material from the existing heap leach pad for irrigation, with plans to place an additional 50,000 tonnes under irrigation by the end of June. The company is also conducting reverse circulation drilling at the Vertigo pit to potentially expand resources and expedite the restart of mining operations, initially planned for mid-2027 but possibly as early as late 2026.
Why It's Important?
The completion of the second gold pour is significant for Pacgold as it enhances cashflow and demonstrates the effectiveness of their re-crush strategy, which is yielding high-grade leachate. This development is crucial for the company’s financial health and operational strategy, as it aims to transition from re-crushed material to full-scale mining operations. The ongoing drilling and resource estimation efforts at the Vertigo pit are pivotal for future production, potentially leading to increased gold output and economic benefits. The success of these initiatives could position Pacgold as a more competitive player in the gold mining industry, impacting stakeholders including investors, local economies, and the broader mining sector.
What's Next?
Pacgold plans to continue drilling at White Dam North, with completion expected by mid-July. The company has contracted Entech to update the resource estimate for Vertigo, including new pit optimizations and mine designs. These efforts aim to map out a cost-effective path to restart the Vertigo pit, with fresh oxide ore expected to be integrated into the production profile soon. The company anticipates receiving updated resource numbers in the next two to three weeks, followed by permitting applications and contractor engagement. Pacgold will also participate in the Noosa Mining Investor Conference in July, potentially attracting further investment and partnerships.
