Pacgold Unlocks the Potential of the St George Gold-Antimony Project
ASX-listed Pacgold Limited has announced its exciting acquisition of the St George gold-antimony project in Queensland’s Hodgkinson Province. This new addition boosts its exploration portfolio and complements its flagship Alice River gold project. With a farm-in agreement secured, Pacgold now has access to a sprawling 905-square-kilometer area situated 450 kilometers northwest of Cairns. Historically mined for high-grade stibnite, this site has remained largely untouched by modern exploration—until now.
Exceptional Potential with Stibnite and High-Grade Gold Deposits
The historical relevance of the site is underscored by rock chip samples that returned impressive results, such as 66.6% stibnite, 0.05 grams per tonne (g/t) gold, and a neighboring prospect yielding astonishing figures of 112 g/t gold and 17.5% stibnite. These findings firmly position the St George project as a dual-threat asset, offering both gold resources and critical minerals like antimony.
With global demand rising, antimony has captured the spotlight for its application in semiconductors, flame retardants, defense technologies, and advanced battery chemistries. Its value has skyrocketed following China’s export ban, boosting its price to a record-breaking US$60,000 per tonne.
Strategic Growth and a Clear Pathway to Full Ownership
Pacgold’s farm-in agreement to acquire up to 100% ownership of the St George project lays out a clear, staged pathway:
- Initial payment of $200,000 along with 10 million shares to Hardrock Mineral Exploration.
- Invest $250,000 within the first 12 months and $1.5 million within 24 months for a 51% stake.
- Achieve 80% ownership by completing a feasibility study on a 200,000-ounce gold-equivalent resource by 2031.
- Option for full ownership based on valuation within one year post-feasibility.
Hardrock retains a small net smelter return royalty, ensuring mutual benefits.
Beyond Gold: Positioning for the Future
Matthew Boyes, Managing Director of Pacgold, emphasized the project’s significance, stating, “Securing the St George gold-antimony project gives Pacgold exposure to a highly prospective, historically mined antimony asset in close proximity to our flagship Alice River gold project.”
For the Alice River project, 2025 has already delivered spectacular results. High-grade hits, such as 48 meters grading 2.1 g/t gold with sections running at a jaw-dropping 29 g/t, underline significant bulk-tonnage open-pit potential.
Antimony’s Role in the Global Market
With tightening supplies and increasing demand, antimony is now classified as a critical mineral. Its strategic role in next-generation batteries and semiconductors means projects like St George are more important than ever. Investors and industries alike are watching closely as Pacgold advances exploration with groundbreaking mapping, geochemical analyses, and planned drilling programs for late 2025.
The Future Looks Bright for Pacgold
Pacgold’s entry into the St George project aligns perfectly with its growth strategy. Combining high-grade gold resources with the rising importance of antimony in global markets, the company is on track to deliver significant value to shareholders and stakeholders alike.
For more information on investments and critical minerals, check out this comprehensive guide on gold and antimony.
