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PC Gold Intersects High-Grade Gold Mineralization in Northern Territory Project; Shares Up 6%

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PC Gold (ASX:PC2) intersected high-grade gold mineralization during recent drilling at the Link Zone and Macau footwall lode of its Spring Hill gold project in Australia's Northern Territory, according to a Tuesday Australian bourse filing.

The results were up to 9.5 meters at 3.04 grams per tonne gold from 189.6 meters and 22 meters at 2.60 g/t gold from 164 meters.

The newly reported results are not included in the mineral resource estimate currently being finalized, confirming additional resource growth potential beyond the upcoming update, the filing added.

The company said it has entered into a conditional share purchase agreement to acquire 100% of Terracore Gold for AU$450,000 through the issue of PC Gold shares at AU$1.28 apiece, the filing added.

The acquisition of the adjoining exploration licence increases PC Gold's landholding by about 68 square kilometers, securing highly prospective tenure along strike and immediately east of the Spring Hill gold project, it added.

The company's shares rose 6% in recent Tuesday trade

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