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PC Gold (ASX:PC2) has obtained better-than-expected results from resource definition and discovery drilling at the Spring Hill gold project in the Northern Territory.
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The additional strong results have confirmed high-grade gold mineralisation extends beyond the existing wireframes and are expected to impact the upcoming release of an updated mineral resource estimate in June.
Executive chair Ashley Pattison said the new results continue to deliver material grade uplift relative to the current 821,000 ounce MRE, reinforcing the potential for a larger, higher-grade inventory as work advances toward feasibility.
“Since mid-2025, our drilling campaign has completed more than 22,000 metres of diamond and RC drilling,” Mr Pattison told PC Gold shareholders today.
“The success of our step-out exploration in late 2025 and into 2026 has well exceeded our expectations. We are excited by the discovery of the high-grade link zone outside the inferred portion of the Macau and Hong Kong lodes.”
He continued: “These results demonstrate that Spring Hill’s high-grade core extends well beyond the current resource footprint. With multiple rigs turning and metallurgical testwork advancing, we are firmly on track to deliver a resource update that reflects the project’s true scale and quality.”
Spring Hill sits within a fully permitted mining lease in the Pine Creek province, a district hosting deposits of more than 20 million ounces of gold.
The now-completed resource definition program commenced in November, primarily focused on the Macau and Hong Kong lodes. Drilling targeted mineralisation immediately beneath the planned open pit and within elevated grade zones of inferred material.
PC Gold is particularly encouraged by the delivery of high-grade results returned in the program – both within current wireframes and outside those, in many cases significantly exceeding the grades in the existing block model.
Mr Pattison told shareholders this was particularly evident in the Macau zone, which has now been extended down dip by approximately 140m. Both holes intersected high-grade mineralisation outside the current MRE.
Two diamond drill rigs also remain active on site post the Christmas period shutdown, with the RC rig expected back on site in early April CY26 following an extended wet season across far north Australia.
PC2 is up +3.83% to 95¢. Mkt cap $286.2M.
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