Pacgold unearths monster gold-antimony system in Qld

Pacgold Limited managing director Matthew Boyce said: “Exploration has progressed rapidly at St George, with our team completing a comprehensive first pass soil geochemical program as well as mapping of exposed mineralization and boulder sampling over the last 6 weeks. It is crucial to note that these conspicuous soil anomalies were obtained from tenements located 5 km south of the historic mining location of St George; This indicates the extent and consistency of mineralization within the apartment package.”

The company believes the St George tenements are home to some of the most antimony-rich and well-developed veins in the Hodgkinson State, which is rapidly developing as one of Australia’s leading gold-antimony addresses.

Geologically, the mineralization bears strong similarities to nearby deposits mined by Republic Gold in the 1980s, including the Tregoora and Northcote deposits, which collectively produced more than 550,000 ounces of gold.

Hodgkinson County has a long and rich mining history, with the Palmer River and Hodgkinson gold fields together producing approximately 1.6 million ounces of gold in the late 1800s and early 1900s. However, much of the region has not been adequately explored by modern standards.

Pacgold’s growing exploration footprint at St George complements the nearby Alice River project, which already hosts a global gold resource of 854,000 ounces. The company has also strengthened its development credentials with the acquisition of the White Dam gold operation in South Australia, a fully permitted project with an operational heap leach facility.

With upcoming drilling and surface results already offering eye-catching grades, all eyes will now turn to what lies beneath the extensive gold-antimony structures at St George.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au