PC Gold (ASX:PC2) said resource definition drilling at the Spring Hill gold project in the Northern Territory intersected high-grade gold, with visible gold observed in five resource definition holes, according to a Wednesday Australian bourse filing.

It drilled 26 holes for 7,137 meters, targeting mineralization immediately beneath the planned open pit and within elevated grade zones of the inferred portion of the mineral resource estimate. It encountered intercepts of 2.8 meters at 15.21 grams per tonne grade of gold from 1.7 meters down hole, as well as eight meters at 3.97 g/t grade of gold from 15 meters down hole.

Two diamond drill rigs remain active on site while a reverse circulation drill rig is expected back on site in early February.

Its shares rose over 3% in recent trading on Wednesday, reaching an all-time high.