In what mining analysts are calling an extraordinary exploration achievement, emerging gold hunter PacGold has delivered a flawless performance at its new Queensland target, striking gold mineralization in every single drill hole completed.
Perfect Strike Rate Signals Major Potential
The ASX-listed explorer revealed today that all five holes drilled at its Alice River Gold Project have intersected significant gold mineralization, sending excitement through the junior mining sector. This 100% success rate is virtually unheard of in early-stage exploration and points to the potential for a substantial gold system.
'Five hits from five holes represents exploration drilling at its absolute best,' said a company spokesperson. 'When every drill bit you put in the ground comes back showing gold, you know you're onto something special.'
Strategic Location in Golden Territory
The successful drilling campaign occurred at the Kauffmans prospect, situated within PacGold's broader Alice River project area in North Queensland. This region forms part of Queensland's prolific Etheridge Gold Field, an area with rich historical production and existing mining operations.
Company geologists reported that the mineralized intersections occurred in multiple rock types, suggesting the gold system could be more extensive than initially modelled. The consistency of results across different geological formations has particularly excited the exploration team.
What This Means for Investors
For market watchers and resource investors, a perfect drill record like this often signals:
- Reduced exploration risk with every hole contributing valuable data
- Potential for rapid resource growth as drilling expands
- Strong likelihood of economic mineralization given the consistency
- Increased market confidence in the company's technical team
The results have already generated significant interest in PacGold shares, with early trading showing increased volume as investors position themselves ahead of further news.
Next Steps in the Gold Hunt
With this outstanding initial success, PacGold has immediately mobilized additional drilling equipment to expand the program. The company plans to:
- Extend drilling along strike to test the full extent of mineralization
- Conduct down-hole geophysical surveys to identify new targets
- Complete detailed geological mapping of the entire area
- Accelerate resource definition drilling if results continue strongly
'This is just the beginning,' the company representative added. 'We've confirmed we're in the right place with the right geology. Now we need to determine just how big this system really is.'
The Australian gold exploration sector continues to deliver world-class discoveries, and PacGold's perfect drilling record positions them as one of the most promising stories to watch in the coming months.
