PC Gold Ltd (ASX:PC2) Hits High-Grade Gold Results and Extensive Visible Gold
21 January 2025
Price Sensitive Announcement $
Highlights:
- High grade gold intersected in initial resource definition drilling at Spring Hill, confirming strong mineralisation within the Hong Kong and Macau lodes.
- Extensive visible gold observed in five resource definition holes, both within and outside the current Mineral Resource Estimate envelope, with mineralised zones extending > 30m widths downhole.
- 26 drill holes for 7,137m completed targeting mineralisation immediately beneath the planned open pit and within elevated grade zones of the inferred portion of the Mineral Resource Estimate.
- Material assay results received from the initial resource definition drilling include:
o 2.8m @ 15.21 g/t Au from 1.7 metre down hole (mdh) including 0.3m at 124.12 g/t Au (see plate 1 below) with 13m mineralised intervals down hole
(SDH25-018 – Hong Kong)o 31m @ 1.92g/t Au from 75 mdh including 11m @ 3.33 g/t Au (SRD25-023 – Macau)
o 14m @ 3.55 g/t Au from 243 mdh including 4.84m @ 9.03 g/t Au from
252.16mdh (SDH25-19a – Macau)o 8m @ 3.97 g/t Au from 15 mdh including 5m @ 5.48 g/t Au from 17 mdh (SRD25-024 – Macau)
o 25m @ 2.32 g/t Au from 385 mdh including 13.5m @ 4.08 g/t Au from 396.5 mdh (SDH25-022 – Macau)
o 10m @ 1.42g/t Au from 130mdh (including 3.8m @ 3.22 g/t Au), 3.9m @ 3.74g/t Au from 165.9mdh and 11m @ 4.16g/t Au from 174mdh (including 1m @ 42.37 g/t Au (SDH25-017 – Macau)
o 3m @ 2.8 g/t Au from collar and 6m @ 1.0g/t Au from 17mdh (Hong Kong), then 13m @ 1.1 g/t Au from 133mdh (including 1m at 8.30 g/t Au from 138m) and 2m @ 3.1g/t Au from 163mdh (SRD25-022 – Macau).
- Current resource definition drilling program is nearing completion. Logging and cutting underway on the final two holes ahead of photon assay. Results from this drilling forms a key input to the Spring Hill Mineral Resource Estimate update.
- Diamond drilling transitioning to metallurgical and geotechnical work and RC drilling resumes extensional programs at Macau Extension and Lasagne.
Overview:
PC Gold Limited (ASX: PC2) has provided an update on its resource definition drilling activities at the Company’s 100%-owned Spring Hill Gold Project (Spring Hill), located in the Pine Creek goldfield in the Northern Territory.
Spring Hill hosts high-grade gold mineralisation entirely within a granted mineral lease, with environmental approvals in place to commence open-pit mining operations. PC Gold is advancing the project through a dual-stream strategy focused on increasing confidence in the existing Mineral Resource Estimate (MRE) while also expanding the global resource inventory through targeted exploration.
The resource definition program commenced in November 2025, focused on the Macau and Hong Kong lodes, targeting mineralisation immediately beneath the planned open pit and within elevated grade zones of inferred material
High Grade Underground Target at the Northern End of the MRE
The resource definition drilling has identified multiple instances of visible gold within a high-grade link zone in the inferred portion of the Macau and Hong Kong lodes providing particularly exciting results.
While assays are pending for most of this drilling, visual observations indicate that the results are broadly consistent with expectations and support the potential conversion of approximately 300m of strike length from inferred to indicated classification in the upcoming resource modelling.
In addition to the four plates shown above, visible gold has now been logged in the following resource definition holes:
- SDH25-024 from 239.6mdh over 0.8m and 247mdh over 0.8m
- SDH25-026 from 147.9mdh over a 6.54m interval
- SDH25-028 from 305mdh over a 1.5m interval
- SDH25-030 from 294.3mdh over a 3m interval and 328.5 over a 0.8 m interval
- SDH25-032 from 242mdh over a 7m interval.
The mineralised zones of the above holes and historical diamond holes drilled by PC Gold are shown in Figure 3 below.
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