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The latest update is out from Pacgold Limited ( (AU:PGO) ).
Pacgold Limited has identified a significant magnetic anomaly at the White Lion Prospect within its Alice River Gold Project, suggesting potential for a large-scale gold deposit similar to the historic Mt Leyshon deposit. The anomaly, characterized by a magnetic annulus with a non-magnetic core, is located near the Alice River fault structure, where historical drilling has indicated surface gold mineralization. Pacgold plans further geophysical surveys and drilling in the area, aiming to enhance their exploration success and potentially discover a multimillion-ounce gold asset.
More about Pacgold Limited
Pacgold Limited is a Queensland-focused gold exploration company, primarily engaged in the exploration and development of gold projects. Their main focus is the Alice River Gold Project, located 300km northwest of Cairns, North Queensland.
YTD Price Performance: -20.0%
Average Trading Volume: 285,081
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$7.89M
See more insights into PGO stock on TipRanks’ Stock Analysis page.