Pacgold Uncovers Promising Gold-Antimony System in North Queensland
Pacgold Limited has delivered encouraging news from its St George gold–antimony project in North Queensland, completing a maiden reverse circulation drilling program with significant shallow, high-grade results. The company's latest findings suggest a much larger mineralised system could be present beneath the surface, adding considerable weight to the project's potential.
Drilling Program Reveals High-Grade Intercepts
The initial nine-hole reverse circulation campaign, finalised late last year, was designed to test beneath historic workings at a previously overlooked antimony field that had already shown substantial promise at surface level. While the mineralised trend extends for over a kilometre, drilling has so far examined just 200 metres of strike length, yet even this limited exploration has yielded impressive results.
Results from the final seven holes have now been released, with two drill holes confirming that antimony-rich quartz veins continue below the surface. Notable intercepts included 1 metre at 12.8 per cent antimony from 41 metres downhole. A second intercept returned 3 metres at 1.6 per cent antimony from 67 metres, including a richer 1-metre section grading an impressive 4.4 per cent antimony from 68 metres.
Gold Adds Further Value to Discovery
Gold mineralisation has also been identified, enhancing the project's economic prospects. Significant gold hits included 8 metres grading 0.7 grams per tonne gold from 45 metres downhole. Another drillhole intersected 1 metre at 1.3 grams per tonne gold from 82 metres. Shallow mineralisation was also encountered, with 7 metres running at 0.5 grams per tonne gold from just 4 metres downhole in a third hole, including a 2-metre zone grading 1.2 grams per tonne gold from 8 metres depth.
Overall, seven of the nine reverse circulation holes drilled returned anomalous antimony or gold values, representing a strong success rate for an initial program that only touched the edges of the system. Importantly, the quartz veins remain open along strike to both the north and south and down dip, leaving substantial potential for follow-up exploration.
Historical Context and Geological Setting
The nine-hole program totalled 826 metres and intersected multiple north-trending quartz veins hosted within interbedded sandstone and shale formations. Widespread sericite alteration indicates a fertile hydrothermal system, supporting the potential for significant mineralisation.
Historical records reveal the area previously produced approximately 60 tonnes of ore grading an exceptional 60 per cent antimony from open pit and shallow underground operations during the 1960s, demonstrating the region's proven mineral endowment.
The St George project forms part of a broader geological story, with Pacgold's tenure situated within a major north-northwest–trending structural corridor stretching over 20 kilometres. This corridor hosts multiple additional gold–antimony targets, including the company's Fence and Ridgeline prospects. Together with St George, these three prospects constitute a mineralised belt extending across more than 20 kilometres of strike within Pacgold's tenement package.
Management Commentary and Future Plans
Pacgold Limited managing director Matthew Boyes commented on the results, stating, "Intersecting additional high grade antimony numbers confirms we have a large mineralised system which we have only just started to explore. The upside of this vast tenement package is immense, and 2026 is shaping up to be a massive year for our exploration crews."
The timing of these discoveries appears particularly favourable. Antimony has gained recognition as a critical mineral due to its applications in defence, energy storage, and advanced manufacturing. Meanwhile, gold prices continue reaching new highs amid geopolitical uncertainty, enhancing the economics of any discovery that demonstrates both scale and grade.
With the North Queensland wet season temporarily limiting fieldwork and drilling activities, Pacgold plans to resume operations at St George during the June quarter with an expanded drilling program. The company intends to pursue extensions beneath historic workings and explore along the broader corridor to test several high-priority regional targets.
Positive Outlook for 2026 Exploration
With shallow, high-grade antimony confirmed, accompanying gold mineralisation, and kilometres of prospective ground remaining untested, Pacgold has multiple reasons to prepare for an active 2026 exploration season. As antimony assumes greater importance on government agendas and gold prices maintain their upward trajectory, the drilling at St George appears well-timed to capitalise on favourable market conditions.
The combination of historical production, promising new results, and extensive exploration potential positions Pacgold's North Queensland projects as significant contributors to Australia's critical minerals and gold sectors.
