Pacific Resources Expands Victorian Gold Footprint Through Acquisition of High-Grade Snowstorm Project
Pacific Resources Limited (ASX: PXR) has executed a binding agreement to acquire 100% of Mines of Stirling Pty Ltd, owner of the Snowstorm Project in Victoria’s Eastern Goldfields, for total consideration of AU$400,000. The acquisition significantly strengthens the Company’s exposure to one of Australia’s most prospective high-grade gold regions, complementing its existing Eastern Victorian Goldfields strategy.
The Snowstorm Project hosts extensive historical drilling, including 3,197m of diamond drilling and 424m of rotary air blast drilling, with previous exploration returning exceptional gold grades of up to 59.2g/t Au and surface sampling results of up to 123g/t Au. Management noted that the project geology is considered analogous to the world-class Fosterville Gold Mine, which has produced approximately 4.6 million ounces of gold since 2005.
Pacific Resources plans to reassess an approved underground bulk sampling program targeting extraction of 3,000 tonnes of ore to improve geological understanding, support metallurgical testing and evaluate repeat high-grade systems at depth. The Company also highlighted significant exploration upside along strike and beneath historical workings where mineralised structures remain open.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
x
Daily Dose of Buy, Sell & Hold recommendations before the market opens.
Start Your 7 Days Free Trial Now!
We use cookies to help us improve, promote, and protect our services.
By continuing to use this site, we assume you consent to this.
Read our
Privacy Policy
and
Terms & Conditions
Pacific Resources Expands Victorian Gold Footprint Through Acquisition of High-Grade Snowstorm Project
Pacific Resources Limited (ASX: PXR) has executed a binding agreement to acquire 100% of Mines of Stirling Pty Ltd, owner of the Snowstorm Project in Victoria’s Eastern Goldfields, for total consideration of AU$400,000. The acquisition significantly strengthens the Company’s exposure to one of Australia’s most prospective high-grade gold regions, complementing its existing Eastern Victorian Goldfields strategy.
The Snowstorm Project hosts extensive historical drilling, including 3,197m of diamond drilling and 424m of rotary air blast drilling, with previous exploration returning exceptional gold grades of up to 59.2g/t Au and surface sampling results of up to 123g/t Au. Management noted that the project geology is considered analogous to the world-class Fosterville Gold Mine, which has produced approximately 4.6 million ounces of gold since 2005.
Pacific Resources plans to reassess an approved underground bulk sampling program targeting extraction of 3,000 tonnes of ore to improve geological understanding, support metallurgical testing and evaluate repeat high-grade systems at depth. The Company also highlighted significant exploration upside along strike and beneath historical workings where mineralised structures remain open.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au