Pacgold (ASX:PGO), an ASX-listed gold development and exploration company focused on generating near-term revenue and cash flow, with its flagship White Dam Gold Operation in South Australia providing an accelerated pathway to production, announced a significant high-grade gold and copper discovery at its White Dam North prospect. The discovery stems from recent drilling beneath the shallow oxide gold resource, intersecting thick, high-grade gold and copper sulphide mineralisation. This development, revealed on 23rd July 2026, marks a major step forward for the company’s White Dam Gold Project, located 80km east of Broken Hill in South Australia’s Olary Province.
Initial assay results confirm compelling mineralisation. Notable intersections include WNRC006 with 20 metres at 2.5 grams per tonne gold and 0.5% copper from 58 metres, encompassing a higher-grade section of 6 metres at 7.5 g/t gold and 1.2% copper from 68 metres. Drill hole WNRC010 returned 10 metres at 3.4 g/t gold and 0.7% copper from 54 metres, including 5 metres at 5.0 g/t gold and 1.0% copper. The company also reported that assays are pending for several other significant downhole intersections, with up to 59 metres of visible copper sulphides logged in holes such as WNRC007, WNRC009, and WNRC016. Pacgold cautions that visual estimates of mineral abundance should not be considered a substitute for laboratory analyses.
The discovery aligns with a magnetic anomaly that extends for up to 1 kilometre, indicating significant exploration upside potential. Only limited deep drilling has historically been conducted over this anomaly, with all recent holes extended into it intersecting sulphide mineralisation. Pacgold’s Managing Director, Matthew Boyes, stated that the new discovery at White Dam North could be “the tip of the iceberg” for what lies beneath existing oxide resources and within multiple identified geophysical and structural targets. The company plans to implement an extensive Induced Polarisation geophysical survey and continue reverse circulation drilling to test the extent and tenor of the new sulphide gold-copper zone, which remains open in all directions.
