Pacton Moves Forwards with Multi-Project Work Program after Oversubscribed Financing
Vancouver, British Columbia, July 10, 2019 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton”) is pleased to announce that comprehensive work programs at Red Lake, Canada, and the Pilbara region in Western Australia, have commenced. The Company wishes to provide an update on the recent financing and exploration activity.
All 2019 Work Programs Fully Funded After Successful Closing of $5,550,900 Oversubscribed Financing.
Exploration Update for the Red Lake Gold Project in Ontario, Canada:
- Surface crews are on the ground conducting a thorough surface mapping and sampling program, following up on geophysical work and historic data. The results will be used to confirm new areas of interest and assist with drill targeting
- 10,000 m drilling program is being prepped for late-summer
Exploration Update for the Boodalyerrie and Yandicoogina Gold Projects in Pilbara, Western Australia:
- Airborne geophysical survey data is currently being processed
- Field crews will shortly be arriving on site for mapping and sampling
- Prominent potential high-grade source structures will be further tested with drilling
Exploration Update for the Egina Gold Project in Pilbara, Western Australia:
- A targeted, small-scale surface sampling program is planned to target the marine terrace gravels at the Egina projects in the Friendly Creek area
- Drilling planned to follow up on surface results and target underlaying fault related structures
Dale Ginn, Executive Chairman, commented, “The success of the recent financings speaks to the quality of Pacton’s gold projects and our team. The Company is now well funded and has entered a very energetic phase of exploration. Our goal is to rapidly advance our highest-priority projects in the gold districts of Red Lake, Ontario and the Pilbara region of Western Australia. To that end, we have now commenced work programs on all four properties.”
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.
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.
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.