Pacton Commences Surface Program at Red Lake Gold Project, Ontario
Vancouver, British Columbia, May 26, 2021 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “Company” or “Pacton”) is pleased to announce that field crews have mobilized to its Red Lake Gold project and the summer 2021 surface program is now underway. The Company is undertaking a comprehensive exploration program at the 28,000 ha project, including soil and till sampling, prospecting and outcrop stripping (Figure 1). Results from the surface program will enhance targeting and generate additional drill targets for the next drilling campaign, expected to begin late 2021.
- Multiple Field Crews Mobilized. Teams have been deployed to a selection of high priority target areas at Pacton’s main property block. Priority areas were selected using data from previous seasons, reconnaissance drilling, geophysics, and results from the seismic survey designed and paid for by PureGold Mining Inc. (PGM: TSX-V) (see Pacton news release dated January 26, 2021).
- 2021 Surface Program Underway. Pacton has begun work on an extensive surface exploration campaign designed to refine and generate drill targets for future drill programs. Phase I will focus on soil sampling at priority areas and will cover approximately 2,800 ha, extending from sample grids from 2020 (Figure 2), and will also include prospecting, grab sampling and permitting. Phase 2 will include outcrop stripping, channel sampling and soil and till sampling.
- Assays Pending. Assays are pending from multiple holes at both the Sidace Gold Project (39.5% Pacton Gold/60.5% Evolution Mining Joint Venture) and the Red Lake Gold Project (100% Pacton Gold). Both projects have experienced significant delays in lab turnaround times resulting from lab capacity challenges due to COVID-19. The Company expects to receive all outstanding assays for both projects in the coming weeks.
- Next Drill Program. Planning is underway for the next round of drilling at Red Lake, which will take place in Q3/Q4, 2021. Assays from the recently completed programs and results from the surface work will form an integral part of drill targeting at both projects.
Nav Dhaliwal, Interim President and CEO for Pacton, commented, “As we await assays from our Sidace and Red Lake projects in the Red Lake gold rush, we are already rolling out a comprehensive surface program. The new, multi-phase program will focus on our early-stage Red Lake project. Multiple teams have been deployed, concentrating on a selection of key areas identified through prior work programs. Results from the surface work will be used for targeting in the drill program planned in late 2021.”
Figure 1. Pacton Gold properties showing other major projects and regional structures in Red Lake, ON (red outline showing the location of Figure 2).
Figure 2. Pacton Gold main property block showing 2020 soil coverage, planned Phase I soil coverage for 2021 and notable gold showings.
About Pacton Gold
Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high-grade gold properties located in the Red Lake gold rush in Ontario, Canada. The Company also owns a strategic portfolio of prospective projects in the district-scale Pilbara gold rush in Western Australia.
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.
Interim President and CEO
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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