PLC Resources hits geological sweet spot in emerging WA gold district

Independent of the Rochefort target, PLC’s recent airborne magnetic survey may have changed the game for the company at a regional level. The high-resolution data revealed a large-scale fold structure along the eastern margin of the Abbotts Greenstone Belt.

Management says the structure is a crustal-level feature that extends for more than 14km of strike and, importantly, continues south into ground held by the $750 million market-capped New Murchison Gold. New Murchison has been moving and shaking in WA’s burgeoning gold sector of late, successfully trucking high-grade discoveries from the region to a toll-treatment facility and generating more than $50 million in cash flow in the last quarter alone.

PLC is now moving to ground-truth these newly identified structural corridors and cash in, with geological reconnaissance planned for next month ahead of a maiden regional aircore drilling campaign on its untested targets.

With Rochefort assays now pending and a second discovery front taking shape, PLC is building some serious momentum across its Murchison ground. A clear path to drill a major structure apparently shared with a highly profitable neighbour gives the company two shots at uncovering a new gold system.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au