Pacgold Limited managing director Matthew Boyce said: “Exploration has moved quickly at St George, with our team completing an extensive first-pass soil geochemical program alongside mapping and rock chip sampling of outcropping mineralisation over the past 6 weeks. It’s crucial to point out that these outstanding soil anomalies were acquired out of tenements located 5 km to the south of the St George historical mine location, demonstrating the extent and consistency of mineralisation within the tenement package”
The company believes the St George tenements host some of the most antimony-rich and well-developed veins in the Hodgkinson Province – a region fast emerging as one of Australia’s premier gold-antimony addresses.
Geologically, the mineralisation shows 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.
The Hodgkinson Province has a long and rich mining history, with the Palmer River and Hodgkinson goldfields together producing nearly 1.6 million ounces of gold during the late 1800’s and early 1900’s. However, much of the region remains underexplored by modern standards.
Pacgold’s growing exploration footprint at St George complements its 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 drilling looming and surface results already delivering eye-catching grades, all eyes will now be on what lies beneath the extensive gold-antimony structures at St George.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
