Drilling Commences at Pacton Gold’s High-Grade Tully West Gold Property in the Timmins Gold Camp, Ontario
Vancouver, British Columbia, May 15, 2017 – Pacton Gold Inc. (TSXV: PAC) (the “Company” or “Pacton”) is pleased to announce that the Company has commenced drilling at its Tully West Gold Property. The initial focused diamond drill program will be comprised of up to 1,200 meters to test a previous gold zone drilled by SGX Resources Inc. in 2013 (SGX Resources Inc., press release, September 26, 2013), which intersected 36.7 g/t Au (uncut) over 6.3 meters. A follow-up, larger scale drill program will be planned based on the results of the current exploration program.
Dominic Verdejo, President and CEO of Pacton commented, “Our initial drill program is focused to quickly test a previous gold zone that yielded a high-grade intersection of 36.7 g/t gold over 6.3 meters drilled by SGX Resources Inc. in 2013. The program, though small in the number of holes and meters, will assist our technical team in validating the high-grade potential of the Property, and the continuity of the mineralized system. Our in-depth technical knowledge of the Tully West Gold Project provides an advantage of maximizing the potential to demonstrate the high prospectivity for additional mineralized gold zones.”
About the Tully West Gold Property
The Tully West Gold Property is interpreted to host the western extension of the Tully – Timmins North Gold Deposit (“Tully Deposit”) and is situated approximately 33 km northeast of Timmins, Ontario. Step-out drilling in 2013 by SGX Resources Inc. encountered high grade gold mineralization in drill hole #13-38, which intersected 36.7 g/tonne Au (uncut) over 6.3 meters approximately 200 meters vertically below surface, and approximately 300 meters west of the previously established limits of the Tully Deposit. Coarse visible gold was observed in the drill hole within a broad zone of mineralized quartz and carbonate veining, and within the host altered volcanic mafic tuff, which is identical to the main Tully Deposit to the east.
The host volcanic tuff unit is readily detectible by geophysics and has been traced for over 2 km in both eastern and western directions away from the main deposit. The Tully Deposit is interpreted to be a series of auriferous shallow dipping (extensional and/or ladder) stacked vein sets within a subvertical competent mafic tuff host that is bounded by ultramafic volcanic rocks to the south and sediments to the north. This host sequence of rocks all lie within a regional east-west fault corridor, which is a northern western splay from the Porcupine-Destor Fault. The Tully Deposit has been drilled over a 1,000-meter strike length to date and to depths of over 600 meters, remaining open both along strike and to depth. The dip of the mafic tuff in the Tully Deposit is subvertical but gradually shallows to 60 degrees in dip approximately 300 meters west of the deposit and possesses the signature stacked en echelon series of gold bearing quartz-carbonate infilled tension gashes. Nine of the veins were intersected with drill hole SGX-13-38, all of which gave variable gold values.
About Pacton Gold
Pacton Gold Inc. (TSXV: PAC) is a Canadian junior exploration company focused on mineral exploration in North America. The Company is currently advancing exploration activity on the Birch and Uchi Gold Properties adjacent to the Springpole Gold Deposit (controlled by First Mining Finance (FF: TSXV)) in the Red Lake Gold District of western Ontario and the Tully West Gold Property located northeast of Timmins, Ontario. The Company’s goal is to secure and explore quality mineral assets in the Americas.
All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a Qualified Person for the purposes of National Instrument 43-101.
On Behalf of the Board of Pacton Gold Inc.
President and CEO
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the results of drilling and the prospect of the Company achieving success in exploring the Tully West Property and the impact on the Company of these events, including the effect on the share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.