PC Gold Finds New High-Grade Zone Beyond 1.5Moz Spring Hill Resource
Key Takeaways
- RC drilling at PC Gold's Spring Hill Project found a new North Link zone outside the 1.51Moz resource, linking the Eastern Lode and Macau Extended.
- The best intercepts are 2m @ 10.03 g/t Au and 3m @ 7.94 g/t Au, well above the resource's 1.1 g/t average grade.
- All three lodes tested, Eastern Lode, Macau Extended and North Link, were extended along strike beyond the current MRE.
- Assays for 22 of 32 RC holes are in, with results from the remaining 10 holes still to be reported.
- Next steps are infill drilling for the next MRE, diamond drilling and northern Link-style targeting, though the announcement gives no timelines.
New high-grade North Link zone discovered north of Spring Hill resource
Reverse circulation (RC) drilling at the 100%-owned Spring Hill Gold Project near Pine Creek in the Northern Territory has identified a new Link-style high-grade zone north of the 1.51Moz Mineral Resource Estimate (MRE). PC Gold (ASX: PC2) says the North Link strikes NE–SW and connects the Eastern Lode and Macau Extended.
All three lodes tested, the Eastern Lode, Macau Extended and North Link, were extended along strike outside the MRE. These high-grade gold drilling results cover assays for 22 of 32 RC holes, totalling 5,340 metres, with assays for the remaining 10 holes pending and due to be reported once received.
What does it mean for you? The company says the North Link shares the orientation, lithology and high grades of the Spring Hill Link Zone, which it says demonstrates the potential for further repeat Link-style structures to the north. A resource that can grow beyond its current outline is one worth watching.
Ashley Pattison, Executive Chairman
“This round of RC drilling has delivered exactly what it was designed to do – extend the mineralised footprint north of the current Mineral Resource…”
Pattison also said RC and diamond infill drilling is ongoing and is intended to sharpen targeting of further Link-style high-grade zones to the north.
When big ASX news breaks, our subscribers know first
Headline intercepts across three lodes
The standout results come from six holes spread across the three lodes. Intercepts are downhole lengths, with depths shown in metres downhole (mdh).
| Lode | Hole | Intercept | From (mdh) |
|---|---|---|---|
| Eastern Lode | XRC021 | 2m @ 10.03 g/t Au | 92 |
| Eastern Lode | XRC018 | 2m @ 7.08 g/t Au | 98 |
| North Link | XRC006 | 3m @ 7.94 g/t Au | 106 |
| North Link | XRC004 | 3m @ 6.95 g/t Au | 160 |
| Eastern Lode | XRC022 | 8m @ 3.64 g/t Au | 79 |
| Macau Extended | XRC014 | 12m @ 1.88 g/t Au | 1 |
A gram per tonne (g/t) measures how much gold sits in each tonne of rock. Short intercepts above 7 g/t are well above the 1.1 g/t average grade of the overall resource.
North Link
The North Link strikes NE–SW and links the Eastern Lode to the Macau Extended Lode. The company describes it as a thin but high-grade zone, and says further drilling is warranted to define its plunge.
XRC004 intersected 3m @ 6.95 g/t Au from 160 mdh, some 50m away from the previously drilled SDH25-009. XRC006 also returned 1m @ 5.89 g/t Au and 1m @ 7.97 g/t Au.
Macau Extended
The Macau Extended Lode is now defined over a strike length of 950m, with significant mineralisation outcropping at the surface. Supporting intercepts include 6m @ 0.84 g/t Au in XRC014 and 5m @ 0.87 g/t Au in XRC015.
Eastern Lode
XRC022 traverses the Eastern Lode and supports extension to the north. Multiple intercepts were also returned in XRC017, XRC001 and XRC018.
Drilling was on a wide spacing, yet the company says enough continuity of mineralisation allowed targeting wireframes to be generated for planning further drilling to infill and extend the lode to the north.
What Link-style mineralisation means for investors
RC drilling uses compressed air and a hammer to bring rock chips to the surface, which are sampled at 1m intervals and assayed for gold. It is a faster, cheaper way to test ground than core drilling.
Why does extending a lode outside the MRE matter? A Mineral Resource Estimate is the company’s formal, JORC-compliant calculation of the gold in the ground. Mineralisation found beyond its boundary is not yet counted, so it is a potential source of growth if later drilling supports inclusion in a future estimate.
The Link Zone also differs from bulk mineralisation. A thin, high-grade structure packs more gold into a narrow band, while bulk, lower-grade mineralisation spreads smaller amounts across large volumes. The current MRE is 43.6Mt @ 1.1g/t Au for 1.5Moz at a 0.5 g/t cut-off.
Key points from the results:
- Holes commonly intersected multiple mineralised lodes.
- High-grade hits sit within a larger mineralised system.
- The strategy combines infill and extensional drilling.
The next major ASX story will hit our subscribers first
Next steps for Spring Hill
The company lists three next steps:
- Drill planning of infill drilling on all three lodes, for inclusion in the next MRE.
- Diamond drilling to allow structural interpretation and better drill targeting.
- Investigating additional occurrences of Link-style high-grade mineralisation further north.
The assays for the 10 pending holes will also be reported once received. The announcement does not disclose timelines for any of these steps.
The broader strategy includes environmental approvals already in place to commence open-pit mining and underground refurbishment, rapid progression towards a pre-feasibility study (PFS), and a strong balance sheet, according to the company.
The Spring Hill Mining Leases acquisition adds the last three third-party tenures inside the project, along with a water licence and operating permits, which gives the company a cleaner platform for the pre-feasibility study.
For investors, the appeal is growth potential beyond the current resource at a project with granted mining leases. Further drilling will determine whether the North Link and the lode extensions can be added to the resource.
Don’t Miss the Next ASX Gold Breakout
Get FREE breaking ASX gold news delivered to your inbox within minutes of release, complete with in-depth analysis. Join 30,000+ investors already ahead of the market. Click the “Free Alerts” button at Big News Blast to receive alerts the moment market-moving news breaks.