Pacgold (ASX:PGO) has intersected ‘high-grade’ gold and copper sulphide mineralisation beneath the existing oxide resource at White Dam North in Curnamona Province, South Australia.
The deposit forms part of the company’s wholly owned White Dam Gold Project, 80km east of Broken Hill.
Hole WNRC006 returned 20m @ 2.5 grams per tonne gold (Au) and 0.50% copper (Cu) from 58m, including 6m @ 7.5g/t Au and 1.2% Cu from 68m.
WNRC010 returned 10m @ 3.4g/t Au and 0.7% Cu from 54m, including 5m @ 5g/t Au and 1% Cu from 56m.
Of the 10 reverse circulation holes extended to date, eight have intersected visible copper sulphides, with significant downhole widths up to 59m. Assays remain pending for most intervals.
Managing Director Matthew Boyes says the discovery could be only the beginning.
“What we are seeing at this new discovery at White Dam North is potentially the tip of the iceberg for what may lie beneath the existing oxide resources,” Boyes says.
The sulphide zone occurs 5–15m below the oxide zone within magnetite-pyrite altered metasediments. This zone coincides with a magnetic anomaly extending up to 1km in strike.
Historical drilling at White Dam North focused on shallow oxide mineralisation averaging 0.5g/t Au, with limited deep drilling into fresh basement.
The White Dam Project hosts a 102,000-ounce gold mineral resource estimate. The current program aims to upgrade the predominantly inferred resource to indicated.
Pacgold plans an induced polarisation geophysical survey to assist follow-up targeting. Assay results for pending intervals are expected within four to six weeks.
Drilling continues through July to infill and extend the 2020 resource estimate, with an updated Vertigo deposit model due in Q3 2026.
Pacgold is advancing its South Australian gold portfolio while retaining exposure to North Queensland through its equity in Manda Resources.
Write to JC Villarba at Mining.com.au
Images: Pacgold
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