Pacton Identifies Vein Hosted Gold at Friendly Creek in Western Australia
Vancouver, British Columbia, July 12, 2019 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton”) is pleased to announce that prospecting work at the Friendly Creek mining lease – one of Pacton’s Egina area gold properties in Western Australia’s Pilbara Craton, has identified primary quartz vein hosted visible gold mineralization. Numerous samples have been discovered and analysis suggests it is source gold from the underlying bedrock.
- Numerous samples of quartz hosted gold. Initial prospecting work has discovered gold at surface associated with quartz veining on granted Mining Lease M47/373, within Pacton’s Friendly Creek tenement package.
- Source Gold at Surface. Gold specimens associated with quartz were liberated from veins within underlying bedrock, proximal to the source. The trend of gold mineralization at Friendly Creek is located along a parallel trend, defined by historic workings, which extend for greater than 4 km.
- Ongoing Exploration at Egina. Follow up work will include additional mapping and prospecting to identify underlying structures with potential to host shear-hosted gold mineralization. This will be followed by drill testing. Pacton also plans to conduct targeted, small scale surface sampling of marine terrace gravels on its Friendly Creek mining lease.
Figure 1. Numerous gold nuggets associated with quartz were discovered at surface at Friendly Creek indicating these were sourced from underlying bedrock.
The identification of gold nuggets associated with quartz veining is not necessarily representative or indicative of locally derived mineralization on the property. The identification of gold specimens guides additional exploration activities undertaken to determine if a local source or mineralized zone is present. There is no certainty that a source will be identified and if a source is identified it may not become a mineral resource.
Figure 2. Pacton Gold’s Egina area properties showing the location of recent prospecting work at Friendly Creek and the location of Novo Resources recent bulk sampling of lag gravels.
Dale Ginn, Executive Chairman commented “The discovery of such visually impressive quartz vein hosted gold at surface represents a significant advancement at Pacton’s Friendly Creek mining lease and speaks to the prolific potential of our Egina gold projects. A field reconnaissance program is now being planned and follow up exploration will include bulk sampling and drilling.”
Figure 3. Pacton tenements in the Friendly Creek area showing the location of the discovery of gold nuggets associated with quartz from Mining Lease M47/373 and a gold trend with a strike length greater than 4 km.
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., 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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