Pacgold turns first gold at White Dam as exploration success widens growth pipeline

The latest update is out from Pacgold Limited ( (AU:PGO) ).

Pacgold has achieved maiden gold production at its White Dam Gold Operation, following the recommissioning of the heap leach and crushing circuit, and the start of cyanide irrigation along the western wall. The company expects near-term cash flow as re-crushing ramps up to full capacity and approximately 2kg of calcined product, equal to about 60 ounces of gold, have already been recovered.

Reverse circulation drilling at the Vertigo prospect is 95% complete and has returned shallow, high-grade gold and copper intercepts, which are likely to support an upgraded mineral resource estimate and potentially add tonnes near surface. A profit share agreement at the Wadnaminga project provides a 50-50 split of profits from historical tailings and heap leach retreatment, adding a low-cost production opportunity adjacent to White Dam.

At the St George gold‑antimony project, first-pass drilling has intersected continuous structures with high-grade antimony and anomalous gold over a limited 200m strike, while soil and rock sampling outline a mineralised corridor exceeding 30km along the Fence Structural Zone. High-grade rock chip results at Big Watson and Limestone highlight substantial exploration upside that could broaden Pacgold’s longer-term production pipeline in North Queensland.

Pacgold closed the quarter with a cash balance of $6.47 million, strengthened further by $643,000 from the exercise of in-the-money options, and now expects ongoing gold production from White Dam to materially support future expenditure. The combination of new cash flow, advancing resource upgrades and expanding exploration targets positions the company to improve its financial resilience and strategic standing among emerging Australian gold producers.

More about Pacgold Limited

Pacgold Limited is an Australian gold-focused resources company listed on the ASX, transitioning from pure explorer to producer. Its core operations centre on the White Dam Gold Operation in South Australia, with additional growth and exploration upside at the Wadnaminga gold project and the St George gold‑antimony project in North Queensland.

Average Trading Volume: 1,851,508

Technical Sentiment Signal: Buy

Current Market Cap: A$56.28M

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