Pacgold Limited has announced promising results from its latest geophysical survey at the White Lion Prospect within its 100% owned Alice River Gold Project, located about 300km northwest of Cairns in North Queensland. The survey has delineated an extensive, high-intensity induced polarisation (IP) chargeability anomaly that is coincident with a well-established bullseye magnetic anomaly. These geophysical signatures bear strong similarities to the intrusion-related characteristics seen at the 5Moz Mt Leyshon gold project, reinforcing the potential for significant mineralisation in the area. The extended IP survey has not only confirmed the chargeability anomaly over the magnetic target but has also identified robust resistivity anomalies within the mapped location of the Alice River Fault Zone (ARFZ). The survey covers an area exceeding 1.5km by 1.0km and has improved the understanding of the subsurface geophysical environment. The findings indicate a complex interplay of chargeability, magnetic ‘bullseye’ features, and resistivity lows, suggesting a structural setting that is conducive to gold mineralisation. Historical exploration from the 1980s, which recorded anomalous gold in quartz breccia, further supports the prospect’s potential. Key elements from the survey demonstrate that the target area lies only 500m south of the major NW-SE trending section of the ARFZ, where quartz breccia and surface gold mineralisation have been previously identified. Pacgold Limited plans to complete several additional Pole-Dipole Induced Polarisation lines over the central target to better delineate anomaly depths, with final data expected by the end of July 2025. Drilling clearance and heritage approvals are already underway, with the company targeting a drill test in Q4 2025 to verify the geophysical anomalies. The technical indicators, along with the clear geological analogies to established gold deposits like Mt Leyshon, suggest a bullish outlook for the project. Supporters may view the integration of multiple geophysical techniques as a strong indicator of robust exploration potential and the promise of a transformational discovery. Meanwhile, some caution that the reliance on geophysical data with pending drilling results, coupled with the uncertainties inherent in approvals and permitting processes, might pose a bearish risk. Overall, the forward drilling program and detailed technical work are expected to provide further clarity and could significantly enhance the value profile of Pacgold Limited’s project portfolio.