Pacton Commences 10,000 m Drill Program at Red Lake Gold Project, Ontario
Vancouver, British Columbia, October 29, 2019 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton”) is pleased to announce that drilling has commenced Pacton’s Red Lake Gold project in northwest Ontario. The 10,000 m program will initially focus on high-priority targets at the Boyden prospect (Figure 1). The program will also test targets at Carricona as well as potential extensions of known mineralization from adjacent projects within the prolific Madsen-Dixie fault corridor. The program is expected to continue into 2020.
About the Boyden Prospect
The Boyden Prospect has been chosen as the first drill target area based on the results of Pacton’s initial exploration activity and analysis of historical data. Recent channel sampling at the prospect by the Company returned values including 101.3 g/t Au and 33.9 g/t Au, as shown in Figure 2 (see Pacton news release dated October 23, 2019). Pacton geologists have collected surface grab samples returning values including 19.0 g/t Au, 23.3 g/t Au and 126.5 g/t Au (see Pacton news release dated July 26, 2019). Historic sampling in the prospect area also includes 6.0 g/t Au and 147.4 g/t Au. The prospect is underlain by intermediate to mafic volcanic rocks with pyrite, galena, sphalerite and gold mineralization associated with quartz veining and silicification. The area has had limited historic exploration work including trenching and pitting with eight historic drill holes ranging from 20 to 200 m depth.
Figure 1. Pacton Gold’s Red Lake Gold Project claim map showing other active projects and the Madsen-Dixie fault corridor.
Figure 2. Outcrop map of the Boyden prospect showing recent channel sample location and results from a gold-bearing quartz vein.
About Pacton Gold
Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high grade conglomerate and orogenic gold properties located in the district-scale Pilbara gold rush in Western Australia and the Red Lake District, Ontario.
The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., Executive Chairman and a director of the Company and a Qualified Person pursuant to National Instrument 43-101.
On Behalf of the Board of Pacton Gold Inc.
R. Dale Ginn
For more information, please contact 1-(855)-584-0258 or [email protected].
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its 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. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.
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