PC2.ASX Reports Successful Drilling and Resource Expansion
Key points
- Completed 8,653m of HQ3 diamond drilling across 24 holes
- Updated Mineral Resource Estimate increased by 84%
- Identified new Footwall Lode parallel to the Macau Zone
- Cash at quarter end was A$21.7 million
- Acquired Pine Creek camp and Terracore Gold Pty Ltd
Full summary
PC2.ASX delivered a highly productive quarter at Spring Hill, completing 8,653m of HQ3 diamond drilling across 24 holes. Drilling generated strong results across the Link Zone, Main Lode Southern Extension, Hong Kong, and Macau areas. The Link Zone continues to develop into a larger and more robust mineralised domain. A new Footwall Lode was identified parallel to the Macau Zone. The updated Mineral Resource Estimate increased by 84% to 43.6Mt @ 1.1g/t Au for 1.51Moz Au. Cash at quarter end was A$21.7 million. The company also acquired the Pine Creek camp and Terracore Gold Pty Ltd, expanding its strategic landholdings.
Guidance
PC2.ASX: Updated Mineral Resource Estimate increased by 84% to 43.6Mt @ 1.1g/t Au for 1.51Moz Au
Outlook
PC2.ASX is well funded to complete the updated Mineral Resource Estimate and the Pre-Feasibility Study. Drilling will continue through the September quarter.
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