Pacgold: Gearing Up for a Golden Future at Alice River

Pacgold (ASX: PGO) is putting the pedal to the metal—or should we say the pick to the gold vein?

The company’s recent capital raise sets the stage for accelerated exploration at its 100% owned Alice River Gold Project, located 300km northwest of Cairns in North Queensland. With rigs back on-site, Pacgold is poised for a golden discovery run—no pun intended.

What’s Happening at Alice River?

The company is ramping up efforts with a regional-scale exploration program in full swing. Here’s the scoop:

• Drill, Baby, Drill: Over 800 drill sites are being prepped, with the AIRCORE program underway since October 16. An RC rig is also on its way, promising a steady stream of updates.
• Quick Turnaround: First assay results are expected potentially within weeks, setting the stage for a flurry of news in the months to come.
• Gold Rush Potential: With a gold bull run in the cards—thanks to rising geopolitical instability, inflation woes, and a weakening US dollar—Pacgold is perfectly positioned to ride the wave.

Leadership That Knows Gold Inside Out

Managing Director Matthew Boyes is a geologist with more than 25 years of globe-trotting experience in mining and exploration. He’s the kind of guy who knows his way around a gold mine, having overseen the construction of two standalone gold-silver projects in Argentina during his tenure at Patagonia Gold. With expertise in exploration, development, and financing, Boyes is leading Pacgold’s charge with confidence.

In his own words:
 “The support from existing and new shareholders for the Placement is a clear demonstration of support for the quality of the Alice River Project. With over 800 drill sites being prepared for the upcoming drill program, we are confident that there will be plenty of good news to report over the coming months.”

Why Alice River could be the Real Deal

Pacgold’s Alice River Gold Project isn’t just another gold prospect—it’s situated in the gold-rich Northeast Queensland Mineral Province, home to some of Australia’s largest multi-million-ounce deposits like Pajingo, Mt Leyshon, and Ravenswood. Here’s what makes it stand out:

• Proven High Grades: The area includes a historic high-grade goldfield with eight mining leases and five exploration permits spanning 377km².
• Massive Potential: Over 27,000m of drilling completed since 2021 has confirmed a district-scale gold system with significant upside.
• 100% Ownership: Pacgold holds the keys to the kingdom, with full control of the project’s future.

Why Investors Should Watch Pacgold?

The company’s strategic focus and experienced board set it apart:

• Extensive Operational Experience: The team brings hands-on expertise in minerals exploration, mining, financing, and development.
• Committed to Unlocking Value: The directors’ direct financial stakes reflect their confidence in delivering returns.

The Bottom Line

Pacgold is entering an exciting new phase as it revs up exploration at Alice River. With rigs on-site, news flow on the horizon, and the gold market heating up, Pacgold is positioned to shine bright in the months ahead. Whether you’re a seasoned investor or a curious onlooker, this is one gold story you don’t want to miss.

So keep an eye on those drill results—they might just strike gold (again).

Sources of information*

Announcements from https://www.asx.com.au/markets/company/pgo

Company website https://www.pacgold.com.au/ 

DISCLAIMER: ‘The information in this article does not constitute personal financial advice. Consult your adviser or stockbroker prior to making any investment decision.

MORE DISCLAIMERS: Stevo is not a Financial Adviser, however, works as an Investment Banker assisting ASX listed companies with retail capital raises. All opinions expressed and written by Stevo, including all other ‘Armchair Banker’ contributors is for informational and entertainment purposes only and should not be treated as investment or financial advice of any kind. Any information provided from our articles, blogs and written opinions is general in nature and does not take into account your specific circumstances. Armchair Banker and its contributors are not liable to the reader or any other party, for the reader’s use of, or reliance on, any information received, directly or indirectly, from any content by Armchair Banker in any circumstances.

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