Pacgold reports shallow oxide gold at White Dam project in South Australia

Pacgold completed a 280-hole reverse circulation drilling program at the Vertigo deposit of its White Dam gold project in South Australia. The campaign began with 178 holes and added 102 infill and extension holes to upgrade inferred resources to the indicated category.

Highlights from the program include 4 metres at 3.1 grams per tonne gold from surface, 6 metres at 2.2 grams per tonne from surface, and 11 metres at 1.2 grams per tonne from surface. Additional intercepts comprise 17 metres at 0.9 grams per tonne from 6 metres depth and 13 metres at 1.3 grams per tonne from 14 metres depth.

The company will incorporate the new assays into an updated resource estimate for Vertigo, which external consultants are preparing for release early in the September quarter. Prior to the update, the White Dam project held a global resource of 4.6 million tonnes grading 0.7 grams per tonne gold for 102,000 ounces across three deposits.

Vertigo is the first of four deposits targeted for restart. The company is advancing engineering for a heap-leach pad expansion to accommodate additional oxide ore once mining resumes.

Dam produced 180,000 ounces of gold between 2010 and 2018 and retains open pits, a heap-leach facility, and supporting infrastructure. The shallow oxide mineralisation near the existing pit is expected to lower pre-strip costs and accelerate first production. Drilling has now moved to the White Dam North deposit, with further programs planned at the Rolling and Hannaford deposits later this year.