TSX-V: PAC
Last: $0.13
PACXF: US $0.10
Change: -0.02
Subscribe

News

Pacton Identifies Specific Exploration Targets on its Properties along the Red Lake Mine Trend

Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton”) is pleased to announce that it has completed its review of recently acquired airborne magnetic and Lidar data covering the northeastern part of its main Red Lake property, and its NE Red Lake Property (Figure 1, yellow dashed rectangles). Pacton recently presented a summary of its integrated magnetic and Lidar data across the southwestern part of its main Red Lake claim group; outlining its location within the regional Madsen-Dixie fault corridor (Pacton news releases dated August 15 and July 16, 2019).

The Red Lake Gold Trend is a 5 km wide band with distinct structural characteristics, hosting multiple gold mines that have produced over 25 million ounces of gold (Figure 2). It is generally accepted that the introduction of gold into the Red Lake area host rocks occurred as a result of two separate regional tectonics events, with the latest event remobilizing and upgrading gold grades in certain areas. The key exploration ingredients for gold concentration appear to be structure and lithology (i.e. rock type). Structure, faults and fractures, allow mineralizing transport into the rocks by liquids or hot gas (plasma). Favourable lithology is essential to allow brittle deformation under structural stress, resulting in the creation of gold accommodation zones.

Pacton’s combined magnetic and Lidar data analysis considers the essential structural and lithological requirements mentioned above to generate prospective and actionable field targets. These are illustrated in Figures 2, 3, 4 and 5.

Current Exploration Activities and Upcoming Drill Program:

Access construction, outcrop stripping and drill site preparation is underway in the Carricona-Boyden area of Pacton’s main Red Lake property. (Pacton news release August 29, 2019). Additionally, a reconnaissance mapping crew is currently evaluating and prioritizing drill target clusters throughout Pacton’s Red Lake properties.

Pacton Red Lake claims superimposed on derivative, regional magnetic maps; and high-resolution heli-mag first derivative data.

Figure 1. Pacton Red Lake claims superimposed on derivative, regional magnetic maps; and high-resolution heli-mag first derivative data. Lithoprobe transect WS-2b, conducted along a highway, is shown as a black and white line . Selected mines and selected gold occurrences (black teardrops) are indicated. A significant, 50 km multi-fault structural corridor is delimited by two white dashed lines that enclose the western part of Pacton’s main claim group, the recent Great Bear gold discoveries to the southeast and Pure Gold’s Madsen deposits to the northwest. The yellow hatched rectangles show magnetic and structural domains that transition to, and form part of the historic and prolific Red Lake gold mine trend.

The Red Lake Gold Trend with current and past producing gold mines (black dots) and the location of Pacton claims near the trend.

Figure 2. The Red Lake Gold Trend with current and past producing gold mines (black dots) and the location of Pacton claims near the trend. The regional structural fabric runs slightly NW- SE and contains identifiable, deep, regional structures that nest down from large to small scales, 800 m to 100 m in this figure, and even down to 12.5 m on Pacton claims where detailed surveys have been performed. The black lines trace the linear cores of 800 m, 400 m, 200 m and 100 m frequency structures. The larger structures run very deep. The influence of the structures are not restricted to the black lines. They have wider influence, as indicated by the yellow to red areas which show the 800 m and 400 m structural intersections.

High-resolution magnetic and Lidar analysis within Pacton’s main group claim boundaries

Figure 3. High-resolution magnetic and Lidar analysis within Pacton’s main group claim boundaries show distinct structural differences between the Madsen-Dixie corridor in the southwest portion of the main claim group and the denser and more prominent structures related to the Red Lake gold trend in the northeastern parts of the Pacton properties.

Magnetic and Lidar target map in the northeastern part of Pacton’s main claim group, immediately southeast of the town of Red Lake.

Figure 4. Magnetic and Lidar target map in the northeastern part of Pacton’s main claim group, immediately southeast of the town of Red Lake. Black lines indicate the centers of 800 m, 400 m, 200 m, and 100 m frequency structures. The red and orange zones indicate areas of higher fracture density which are prioritized for exploration.

Magnetic and Lidar target map for a portion of Pacton’s NE Red Lake area claim group.

Figure 5. Magnetic and Lidar target map for a portion of Pacton’s NE Red Lake area claim group. Black lines indicate the centers of 800 m, 400 m, 200 m, and 100 m frequency structures. The red and orange zones indicate areas of higher fracture density which are prioritized for exploration.

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
Executive Chairman

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.

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.

10.10.2019

Pacton Mobilizes Drill Crews at Red Lake Gold Project, Ontario

arrowRead More
09.17.2019

Pacton Identifies Specific Exploration Targets on its Properties along the Red Lake Mine Trend

arrowRead More
09.11.2019

Pacton Gold Selects First Priority Target Area for 10,000 m Drill Program at the Red Lake Gold [...]

arrowRead More

arrowView All News

Stay up to date with our latest news:

What are you searching for?