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Pacgold Drilling Identifies 'Significant Shallow Extensions' at South Australia Gold Deposit; Shares Gain 5%

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Pacgold (ASX:PGO) said drilling at the White Dam gold operation in South Australia identified "significant shallow extensions" to the Vertigo deposit, according to a Tuesday filing with the Australian bourse.

Assay results from infill and extension drilling include 13 meters at 1.3 grams per tonne grade of gold from 14 meters; 17 meters at 0.9 g/t gold from six meters; nine meters at 1.3 g/t gold from three meters; seven meters at 0.9 g/t gold from four meters; and 13 meters at 1 g/t gold from five meters, among other intercepts.

The company said it is fast-tracking mine designs, cash flow modelling, and permitting "to get Vertigo back into production as soon as practicable." It added that a mineral resource estimate is in progress for delivery early in the September quarter.

Pacgold shares gained 5% in recent Tuesday trade.

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