en.Wedoany.com Reported - Pacgold has announced that drilling at the White Dam project in the Olary region of South Australia has identified new shallow gold mineralization zones. The company has released the final batch of assay results from the Vertigo resource drilling program.

Key intercepts include: 28m at 0.9g/t gold and 0.07% copper from 2m depth, including a higher-grade zone of 3m at 4.1g/t gold and 0.09% copper from 12m; 12m at 1.1g/t gold and 0.03% copper from 6m; and 24m at 0.6g/t gold and 0.05% copper from 1m.

This drilling program also targeted infill drilling within the 2020 Inferred Resource area, returning the following intercepts: 12m at 2.5g/t gold and 0.50% copper from 65m; 16m at 3.9g/t gold and 0.89% copper from 60m; and 3m at 7.3g/t gold and 0.96% copper from 47m.

Pacgold stated that this program, by tracing shallow extensions interpreted from the resource model, intersected previously untested continuous mineralization, providing a basis for expanding the Vertigo resource estimate. Meanwhile, the infill drilling aims to upgrade the original Inferred Resource to the Indicated category and test the shallow extensions of the estimation model.

Managing Director Matthew Boyes commented: "The exploration team continues to deliver 'strong' results, demonstrating White Dam's ability to delineate multiple shallow oxide gold zones near the resource area."

Boyes further noted: "Over time, these will become very low-cost, high-margin ore that we can bring forward into the mining schedule during future mine planning stages." He added: "I am very much looking forward to following up on these results, getting the drill rig back on site to test the newly identified structures, and commencing data modelling for Vertigo. At current gold prices, this ore, once mined, should generate significant revenue and free cash flow."

According to Trading Economics data, as of May 7, the gold price was US$4,705 per ounce (approximately A$6,496), a year-on-year increase of 39.18%. Pacgold is a mineral exploration company focused on projects in North Queensland and South Australia.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com