Highlights

  • PC Gold (ASX:PC2) has defined 37 exploration prospects across its 10,300-hectare Spring Hill Gold Project in the Northern Territory after reviewing historical data spanning four decades.
  • Sixteen prospects are drill-ready, including nine tier-one priorities where historical results were never followed up.
  • Historical results include 16m at 4.12g/t at Steve's Gully and 5m at 24.4g/t at First Bite, reported by previous operators.
  • A Mineral Resource update is scheduled for December 2026, with Steve's Gully drilling commencing within three weeks.

Systematic Target Review Across the Land Package

PC Gold has completed a comprehensive targeting exercise at its Spring Hill Gold Project, reviewing more than 175 historical exploration reports across a consolidated land package of approximately 10,300 hectares. The review defined 37 exploration prospects, of which 16 are drill-ready and nine are classified as tier-one priorities where historical high-grade results were never followed up. The project hosts a JORC (2012) Mineral Resource of 1.51 million ounces at 1.1g/t gold.

Historical Results Behind the Rankings

Historical intercepts underpinning the tier-one rankings include 16 metres at 4.12g/t gold from 63 metres at Steve's Gully (Ross Mining, 1994), 5 metres at 24.4g/t from 7 metres at First Bite (Acacia Resources, 1995-1996), and channel samples of 5 metres at 27.2g/t at Middle Zone and 10 metres at 17.5g/t at Macau Extended. These are historical results not independently verified by PC Gold, and channel samples do not demonstrate continuity at depth.

Resource Update and Drilling Schedule

The company plans to assess high-grade historical channel samples for inclusion in a Mineral Resource update scheduled for December 2026. Infill drilling at Macau Extended is being incorporated into the current reverse circulation program. Steve's Gully drilling is expected to commence within three weeks, while Vein Heaven is scheduled for early next year. Tier-two and tier-three targets will first be advanced through geological mapping and sampling.

Development Context

Executive chairman Ashley Pattison noted the ground had been explored over the years but never as a single consolidated package, and that the company now has a ranked list of drill and field programs running alongside resource drilling. The Prefeasibility Study and permitting remain on the critical path, with exploration running as a parallel activity.

What to Watch

The December 2026 resource update, first assays from Steve's Gully and progress on the Prefeasibility Study are the near-term markers. Gold exploration outcomes remain uncertain, and historical data compiled from multiple operators can vary in quality.