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Highlights
- Large magnetic anomaly identified at White Lion Prospect
- Drilling program expected to begin in Q4 2025
- Geological features likened to Mt Leyshon gold deposit
Pacgold (ASX:PGO) has unveiled a notable development at its Alice River Gold Project in North Queensland, announcing the identification of a substantial circular magnetic anomaly at the White Lion Prospect. Measuring more than one kilometre in diameter, this newly pinpointed feature signals a compelling exploration opportunity for the company as it prepares for its upcoming fieldwork season.
The magnetic anomaly is also associated with a potassium radiometric high and is situated on the edge of an Induced Polarisation (IP) chargeability anomaly. This geophysical combination often signals the presence of mineralised systems beneath the surface. Adding to the site's potential, historical drilling less than 500 metres from this location intersected gold mineralisation starting from surface levels — a positive indicator for near-term exploration.
In light of these findings, Pacgold (PGO) has outlined a clear exploration roadmap. The company plans to launch an extensive IP survey program, using Gradient Array and Pole-Dipole methods, during the June to July 2025 window. These methods are designed to better understand the subsurface structures and target areas for drilling. Additionally, heritage clearance processes are already underway, which will enable drilling operations to begin in early Q4 2025.
Geological reprocessing work has played a key role in identifying the White Lion anomaly. The re-evaluation of airborne magnetic data revealed a geophysical signature that bears similarities to the well-known Mt Leyshon deposit, located approximately 500 kilometres to the south. Like Mt Leyshon, White Lion is situated in a geologically favourable setting, which further enhances its prospectivity.
According to Pacgold’s leadership, the coming months will be crucial in building a strong pipeline of exploration targets. The White Lion anomaly is viewed as a cornerstone in the company’s efforts to unlock significant gold resources in the region.
With the exploration season on the horizon and a growing portfolio of targets across the Alice River Project, Pacgold (PGO) continues to make steady strides in expanding its gold discovery potential in one of Queensland’s underexplored yet promising gold corridors.
