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Rowena Duckworth
Pacgold Limited has kept the drill bit busy and the excitement ticking over at its St George gold–antimony project in North Queensland, wrapping up its maiden reverse circulation (RC) drilling program with another set of shallow, high-grade antimony hits.
The company says the new results have added weight to the idea that a much larger mineralised system may be lurking below the surface.
The first-pass nine-hole RC campaign, completed late last year, was designed to poke a few holes beneath historic workings at a once-forgotten antimony field that had already been flashing serious promise at surface. While the mineralised trend runs for more than a kilometre, drilling to date has tested just 200 metres of strike and even that light touch has delivered plenty of fireworks.
The results from the last seven holes are now in. Two particular drill holes confirmed that antimony-rich quartz veins don’t stop at surface. Standout hits included 1 metre at 12.8 per cent antimony from 41m downhole. A second intercept returned 3m running at 1.6 per cent antimony from 67m and included a richer 1-metre slice grading a stunning 4.4 per cent antimony from 68m.
‘The upside of this vast tenement package is immense.’
Pacgold Limited managing director Matthew Boyes
Gold made its presence felt as well, adding extra shine to the story. Hits included a solid 8m grading 0.7g/t gold from 45m downhole and in another drillhole, the bit struck 1m at a steady 1.3g/t gold from 82m. Shallow mineralisation was also intersected, with 7m running at 0.5g/t gold from just 4m downhole in a third hole, including a 2m zone grading 1.2g/t gold from 8m depth.
All up, seven of the nine RC holes drilled delivered anomalous antimony or gold – a tidy strike rate for a maiden program that barely scratched the edges of the system. Notably, the quartz veins remain open along strike to the north and south and down dip, leaving plenty of blue sky for follow-up drilling.
The nine-hole program totalled 826 metres and intersected multiple north-trending quartz veins hosted in interbedded sandstone and shale, with widespread sericite alteration pointing to a fertile hydrothermal system.
Historic records show the area previously produced about 60 tonnes of ore grading a staggering 60 per cent antimony from open pit and shallow underground workings during the 1960’s – proof that the rocks here know how to deliver.
And St George isn’t a one-trick pony. The broader geological story shows Pacgold’s tenure sits within a major north-northwest–trending structural corridor that stretches for more than 20 kilometres and hosts multiple additional gold–antimony targets. These include the company’s Fence and Ridgeline gold-antimony prospects. Together with St George, the three prospects form part of a mineralised belt extending for more than 20 kilometres of strike across Pacgold’s tenement package.
Pacgold Limited managing director Matthew Boyes said “Intersecting additional high grade antimony numbers confirms we have a large mineralised system which we have only just started to explore. The upside of this vast tenement package is immense, and 2026 is shaping up to be a massive year for our exploration crews.”
The timing of these results couldn’t be better. Antimony has been thrust into the global spotlight as a critical mineral thanks to its role in defence, energy storage and advanced manufacturing, while gold prices continue to surge to new highs almost daily, supercharging the economics of any discovery that can grow scale and grade.
With the North Queensland wet season temporarily slowing boots-on-the-ground fieldwork and drilling, Pacgold plans to return to St George in the June quarter with an expanded drill plan. The company says it plans to chase extensions beneath historic workings and fan out along the broader corridor to test a suite of high-priority regional targets.
With shallow, high-grade antimony confirmed, gold along for the ride and kilometres of fertile ground still untouched, Pacgold looks to have plenty of reasons to be sharpening the drill bits ahead of what shapes as a very busy 2026.
As antimony surges up government agendas and gold prices soar due to geopolitical uncertainty, the drilling at St George appears to be hitting the right rocks at exactly the right time.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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