Pacgold Limited has entered into a farm-in agreement that gives the company the right to earn up to a 100% interest in the St George Gold-Antimony Project, a significant asset in North Queensland covering 905km². The agreement, executed with Hardrock Mineral Exploration Pty Ltd, marks a major strategic move as Pacgold expands its exploration portfolio, building on its flagship Alice River Gold Project. The St George Project, located about 70km west of Mt Carbine, features widespread high-grade antimony mineralisation relayed through several structurally controlled gold-antimony veins. Historical mining at the site produced 60 tonnes from artisanal open cut and underground workings. Recent due diligence sampling has returned impressive figures, including assays such as 49.4% antimony (Sb) from rock chip sample SG250704 and similarly high readings from other sites. These samples underscore the potential for unlocking significant value in this underexplored asset. Under the three-stage farm-in framework, Pacgold will secure an initial 51% interest by committing at least $250,000 within the first 12 months and $1.5 million within 24 months. Success in these phases could lead to an additional 29% interest, contingent on a bankable feasibility study targeting more than 200,000 oz of gold equivalent, and a final 20% interest to complete a full acquisition, subject to further agreed terms. As part of the partnership, Hardrock also receives net smelter return royalties on both antimony and gold, with an option for Pacgold to acquire a portion of these royalties based on an independent valuation. Antimony, classified as a critical mineral, is experiencing robust demand as global supply remains tight, largely due to production being dominated by China. With antimony prices recently hitting US$60,000 per tonne, there is a heightened spotlight on exploration opportunities in this space. In addition to its critical metal aspect, the project’s favorable geology within the Hodgkinson Province, known for its historical deposits such as the Hodgkinson and Palmer goldfields, adds further allure to the prospect. The next phase of exploration at St George is poised to commence immediately. Pacgold’s strategy includes first-pass mapping, geophysical surveys, soil geochemistry, and targeted drilling ahead of the end of Q4. These activities build on completed heritage clearance and extensive prior geological work, creating a robust platform for defining drill-ready targets and enhancing the overall resource understanding. Bullish sentiment centers on the high-grade antimony grades, the structured pathway to 100% ownership, and the strategic positioning in a critical mineral sector with strong global demand. The exploration program’s initial results and planned drilling could unlock significant value, thereby bolstering investor confidence. Conversely, bearish considerations include the inherent risks associated with early-stage exploration, potential dilution from share issuance, and the uncertainty of translating historical sampling data into a viable resource. This dual sentiment underlines the speculative nature of exploration assets while emphasizing the potential upside in a high-demand commodity market.