Snowstorm Gold Project

Snowstorm Gold Project

Pacific Resources entered into a Binding Agreement to acquire 100% of the issued capital of private exploration company Mines of Stirling Pty Ltd, which holds 100% interest in the Snowstorm Project (PL007319) in May 2026.

The Snowstorm Project is a high-grade gold exploration asset in Victoria’s Eastern Goldfields region, with extensive drilling from previous project owners First Au Ltd (ASX: FAU) delivering exceptional results (Figures 1 and 2). These include;

  • 2m @ 59.2g/t gold from 29.3m5 in hole SNDDHP2002 from drilling in 2022; and
  • 2m @ for 49.3g/t Au6 from 64.4m in hole SNDDH001 from drilling in 2021.

See Table 1 for highlight drilling intersections from 2021 and 2022 drilling by FAU.

Table 1: Diamond Drilling Program with Maximum Gold in Hole Assay in ppm from FAU drilling in 2021-22.

Figure 1: Long section looking Northeast showing the sulphide quartz reef geometries intersected by drilling. Coordinates in MGA94 Zone 55 against scale shown

The Snowstorm Project has an approved work plan (PLN-001755) for an underground bulk sampling program to extract up to 3,000 tonnes of mineralised material and Pacific Resources plans to reassess the bulk sample program as an initial priority for its fieldwork programs, and, if successful, progress toward a Mining Licence at the Project.

There is also significant exploration potential up-dip in the mineralised shear zone outside the bulk sample target zone, which presents a further exploration opportunity within the project area.

 

Figure 2: High-grade core from diamond drill hole SNDDH002.

Project Overview and Background

The geological setting of the Snowstorm Project within the Swifts Creek–Omeo region of eastern Victoria is considered analogous to the broader structural and stratigraphic architecture hosting the world-class Fosterville Gold Mine, also in Victoria. Both regions occur within the Lachlan Orogen and comprise folded Ordovician metasedimentary sequences variably intruded by Silurian to Devonian intrusive rocks and affected by multi-phase deformation associated with the Tabberabberan Orogeny. 

Modern tectonic interpretations of the Victorian Orocline suggest that large-scale oroclinal bending and structural reorganisation of the eastern Lachlan Fold Belt may have repositioned equivalent mineralised structural corridors into eastern Victoria.

The Company considers that the interaction between fold hinges, shear zones, dyke swarms and late brittle reactivation structures observed at Snowstorm represent favourable controls for orogenic gold mineralisation and share key geological characteristics with structurally hosted Victorian gold systems elsewhere in the state.

The Snowstorm Project (PL007319) adjoins Exploration Licence EL007335, which is part of the Company’s Option to acquire the Eastern Victorian Goldfields Project.