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Highlights
Pacgold (ASX:PGO) secures farm-in deal for the St George Antimony Project in North Queensland
The project includes historically mined zones with artisanal open cut and underground workings
Exploration programs to include mapping, reconnaissance, soil sampling, and geophysical surveys
asx200 company Pacgold (ASX:PGO) has expanded its exploration footprint in Queensland through an agreement with Hardrock Mineral Exploration for the St George Antimony Project. This project falls within the North Queensland mineral province and is located in proximity to the Alice River Gold Project, which remains the company’s primary exploration hub.
Agreement Structure and Staged Interest
The farm-in agreement outlines a staged process through which Pacgold (ASX:PGO) can progressively secure full ownership of the St George Antimony Project. The arrangement begins with Pacgold acquiring a partial interest, which can be expanded through exploration expenditure, feasibility studies, and eventual election to secure full project rights. In addition, Hardrock Mineral Exploration will retain net smelter return royalties on antimony and gold production, with options in place for partial purchase of those royalties.
Project History and Geological Significance
The St George Project hosts an historical antimony mine that has seen artisanal activity through both surface and underground methods. Despite this history, no modern exploration drilling has been conducted, leaving the broader mineralisation largely underexplored. Early due diligence sampling undertaken by Pacgold confirmed high-grade zones, prompting immediate interest in systematic exploration programs.
Exploration Strategy and Work Program
Pacgold (ASX:PGO) has confirmed that exploration efforts will commence with first-pass mapping, reconnaissance, and soil programs. Geophysical surveys, including gravity methods, are expected to provide deeper insights into anomalous zones. These efforts will be complemented by follow-up mapping, trenching, and rock chip sampling to refine a suite of walk-up drill targets across the project area.
Strategic Positioning in Queensland
The addition of the St George Antimony Project strengthens Pacgold’s portfolio in North Queensland, where the company is also advancing its Alice River Gold Project. The Alice River Project consists of a significant landholding of exploration permits and mining leases. By consolidating exploration assets in the region, Pacgold aims to establish a stronger presence in the broader mineral province, which is recognised for gold and antimony mineralisation.
Future Outlook for the Project
Exploration activities will progress through a series of technical programs designed to establish a comprehensive geological understanding. Once geophysical targeting and detailed mapping are complete, drilling programs are planned to follow. Work across the St George Project is designed to build a pipeline of ranked prospects that will be tested in future campaigns. Early efforts will remain focused on advancing areas with confirmed anomalous mineralisation.
Frequently Asked Questions
- What is Pacgold’s main project?
Pacgold (ASX:PGO) is primarily focused on the Alice River Gold Project in North Queensland. - Where is the St George Antimony Project located?
It is situated in North Queensland within the broader mineral province. - What exploration methods will be used at St George?
The work program includes mapping, soil sampling, geophysics, trenching, and drilling.
