Pacgold (ASX: PGO) has announced promising initial assay results from its maiden RC drilling program at the St George Gold-Antimony Project in northeast Queensland. Pacgold is an ASX-listed mineral exploration company with projects in North Queensland and South Australia. The drilling program, completed in November, aimed to test the depth extent of high-grade gold and antimony surface samples from structurally controlled veins at the historic St George antimony mine.
The first two drill holes have intersected multiple thick continuous structures carrying high-grade antimony. Significant results include 8 metres at 2.3% Sb from 16m downhole in SGRC001, which includes 1m at 11.9% Sb from 22m. SGRC002 returned 8 metres at 2.3% Sb from surface, including 2m at 8.2% Sb from 0m. Results from the remaining seven holes are expected in early 2026.
Matthew Boyes, Pacgold’s Managing Director, commented that the results validate the project’s antimony potential and confirm extensions of high-grade antimony mineralisation below the surface. He added that the intersections reinforce the view that the historic St George workings represent a much larger mineralised system. The St George Project now represents a newly defined antimony province with anomalies extending over 20km.
Next steps include designing drill programs at the Fence and Ridgeline Prospects, with heritage clearance and drill approvals to be submitted. Rock chip and soil sampling results are expected shortly over the Big Watson epithermal target to the south. Pacgold believes this is a significant opportunity given the market outlook for antimony, driven by scarcity of supply outside of China and growth from energy transition and military applications.
