Pacgold has announced the pouring of its first gold doré bar from the White Dam project in South Australia, a move signifying the company's transition from exploration to production. This initial output, a 3-kilogram bar with an estimated 80 ounces of gold, was achieved swiftly following the project's acquisition, indicating a rapid restart of operations on budget. The company frames this as a "transformative moment," leveraging firm gold prices and a lean operational model for heap-leach extraction.
Concurrently, Pacgold is reporting significant findings from its ongoing drilling activities at the Vertigo Pit within the White Dam Gold Project. The company has completed 95% of its reverse circulation drilling campaign, with early assay results reportedly "underpinning confidence" in the project. New shallow gold zones have been identified above the existing resource estimate model, potentially allowing for improved open-pit designs and resource upgrades. This development comes as the White Dam heap-leach operation, which includes a recently re-lined pond and pad, and a fully operational extraction plant, sees renewed activity.
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Vertigo Pit Yields Significant Intercepts
Recent drilling at the Vertigo Pit has delivered a series of notable gold intersections. One standout intercept measured 21 metres grading 1.4 grams per tonne (g/t) gold and 0.32 per cent copper from a depth of 44 metres. This wider zone included several narrower sections of higher-grade gold, with three 2-metre intervals ranging from 3 to 4 g/t gold. Another hole reported a 4-metre section at 3 g/t gold and 0.11 per cent copper from 33 metres, containing a deeper interval of 12 metres at 1.1 g/t gold and 0.36 per cent copper from 48 metres. A third drill hole encountered 11 metres at 1.0 g/t gold and 0.03 per cent copper from 13 metres, which included a 1-metre assay of 4.9 g/t gold.
Drilling Campaign Nears Completion, Further Expansion Planned
Pacgold's reverse circulation drilling campaign at the Vertigo Pit is now 95% complete, with an additional RC rig scheduled for mobilisation in May to accelerate further exploration. These efforts aim to upgrade existing resources and potentially expand the open-pit designs. The company previously identified shallow, wide, and high-grade gold intercepts, including a 4-metre section grading 2.9 g/t gold and 0.79 per cent copper within a broader 15-metre interval of 1.6 g/t gold and 0.48 per cent copper from 56 metres.
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Broader Exploration Context: St George and Queensland Projects
Beyond White Dam, Pacgold is also active in Queensland. Recent drilling at the St George gold-antimony project reportedly intersected multiple thick zones of high-grade antimony mineralization just below the surface. One hole yielded an 8-metre intersection grading 2.3 per cent antimony from 16 metres, containing a 1-metre section assaying 11.9 per cent antimony. Another hole returned 8 metres at 2.3 per cent antimony from surface, with a 2-metre interval at 8.2 per cent antimony.
In northern Queensland, the company's exploration campaign has seen "fresh gold hits" at the White Lion prospect and the identification of a new 1.5-kilometre mineralized zone at the Jerry Dodds play, within the Alice River gold project. Standout results from this area included 4 metres grading 0.6 g/t gold from 5 metres, and 24 metres at 0.3 g/t gold from 45 metres, including a 1-metre slice at 2.4 g/t gold.
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Background on White Dam
The White Dam Gold Project, situated 50km west of Broken Hill in South Australia, covers over 877 km² of tenure. The project possesses existing infrastructure, including a gold-copper processing plant and on-site facilities. Historical resource estimates for White Dam include a JORC 2012 resource of 4.6 million tonnes at 0.7 g/t gold for 102,000 ounces. Pacgold's restart strategy involves a phased approach, beginning with the re-crushing of an existing heap leach pad to extract remaining gold. The project's location provides access to established mining services and workforce.
