ewsba.se
Pacgold has reported the first gold pour and production of its maiden gold doré bar from the White Dam Gold project in South Australia.
The first gold doré bar, weighing approximately 3kg and estimated at 80oz of gold, has been sent to Perth Mint Refinery for final refining and sale.
The anticipated revenue from this sale will mark Pacgold’s transition from an exploration company to a producer, supporting further on-site growth activities. The White Dam Gold project is situated 80km east of Broken Hill in Olary Province.
Pacgold is concentrating on gold production from previously unprocessed material, aiming to ramp up re-crushing and leaching to 90,000t monthly.
Most plant refurbishments are finished, except for one final CIC column needed to fully restore the circuit's capacity.
Design work continues for the proposed pad expansion, handled by the North American firm Newfields engineers. The company plans to complete this by late July, after which it will proceed to tender construction and liner installation.
Drilling at the Vertigo deposit is complete, with assay results expected shortly.
Meanwhile, RC drilling is on hold while awaiting approvals for drilling at White Dam North and securing stable diesel supply and pricing.
The company initiated heap leach gold production at the White Dam project in January this year.
Pacgold said that its focus remains on boosting production and cash flow from the existing pad.
Pacgold managing director Matthew Boyes said: “The first gold pour of many to come at White Dam is a transformative moment for Pacgold. Delivering our maiden gold doré bar just five months after acquisition is a testament to the dedication of our operations team and the efficiency of our Phase 1 restart strategy.
“This milestone marks our official transition from explorer to producer. More importantly, this cash flow from the sale of the first Dore’ provides us with our first non-dilutive capital since the company IPO, which greatly helps to de-risk the project and gives confidence in funding our ongoing growth initiatives.”
The company also revealed that permit applications for drilling have been submitted for several exploration sites. These include Mary Mine, White Dam North, Green and Gold, Wilkins, and Wadnaminga, positioning Pacgold with multiple drill-ready opportunities once approvals are obtained.
As of early April, about 40,000t of re-crushed ore are under irrigation at White Dam, with an additional 75,000 to 80,000t ready for leaching once irrigation lines are set up.
"Pacgold produces maiden gold doré bar at White Dam project" was originally created and published by Mining Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.