Pacton’s Red Lake Winter Drill Program to Test 2 km along Newly Discovered Claremont Gold System
Vancouver, British Columbia, October 28, 2021 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “Company” or “Pacton”) is pleased to announce the discovery of a new gold bearing system at its Red Lake Project in Red Lake, Ontario. The new mineralized gold trend in the Claremont target area extends for approximately 2 km (Figure 1). Recent outcrop sampling on the trend has returned widespread mineralization at and near surface that includes continuous zones of up to 60 m in length and 50 m in width.
- New, Multi-kilometer Gold Bearing Trend. Pacton’s prospecting and soil sample programs over the last two years have identified a new multi-kilometer gold bearing trend in the Claremont area. Previously uncorrelated historical results align with this new system which has never been drill tested.
- Widespread Gold Mineralization at New Claremont Stripped Outcrop with continuous zones up to 60 m in length. Over the course of the 2021 summer field season outcrop stripping revealed continuous mineralized zones with a 60 m strike length and 50 m width. Pacton collected grab and channel samples over the stacked and parallel gold-bearing quartz veins. Every mapped mineralized zone reported anomalous gold values.
- Ongoing Target Generation. The Claremont trend is developing into a promising drill target area. Preliminary analysis has identified a positive correlation between gold and pathfinder elements. Additionally, the new gold system is associated with a very specific helicopter magnetic signature which identifies the 2 km trend and also suggests it is wider than currently defined by surface exploration or sampling. This data will be used to guide further analysis for the purpose of identifying drill targets.
- Expedited Targeting Following Important Red Lake District Analogies. This emerging gold target has multiple similarities to mineralization described at Great Bear Resources’ LP Fault. In both areas, widespread gold mineralization is hosted in felsic volcanic rocks of the Confederation Assemblage, is proximal to mafic-felsic contacts and near large-scale structural domain boundaries. At the LP fault, high-grade mineralization occurs within a lower grade mineralized halo and is interpreted to be lithologically and structurally controlled. Based on the similarities, and supported by the incoming sampling data, Pacton intends to expedite further drill targeting along this prospective trend.
Karly Oliver, VP Exploration for Pacton, commented, “This newly identified trend is a result of Pacton’s recently completed, comprehensive field programs, along with detailed analysis of historic data. Incoming results from the 2021 field season continue to add to our growing databank and our accelerating drill target generation. We intend to drill multiple targets along this new gold trend this upcoming winter.”
Claremont Outcrop and Channel Sample Program
As part of its 2021 surface exploration program, Pacton completed the mechanized stripping of an outcrop in the Claremont area (Figure 2). A high-resolution drone mapping survey was conducted for further geological mapping and study. The Claremont outcrop consists dominantly of felsic volcanics with shearing of variable intensity. The developed mineralized zones are hosted in felsic volcanics and are altered by a major hydrothermal-fluid gold system that is characterized by quartz veinlets, silica-sericite alteration, and increased sulphide mineralization. There are multiple parallel and stacked mineralized zones across the outcrop whose exposed width totals 50 m and is open in all directions. Multiple generations of dykes crosscut the felsic volcanics and mineralized zones. Pacton collected 32 grab samples on and around the outcrop with results up to 2.6 g/t Au (Table 1).
Pacton completed its channel sample program on the Claremont outcrop in September, 2021 (Figure 3). 21 channels were cut across mineralized zones totalling 72.4 m for a total of 99 samples. Samples were taken in approximately 0.5 m and 1.0 m intervals at a width of approximately 5 cm. Every sample across the mineralized zones 50 m strike width, reported anomalous gold values. See Table 2 below for sampling highlights.
Figure 2. Bedrock geology of the Claremont stripped outcrop. Grab samples (32) were collected and assayed prior to the channel sample program. Channels (21), in black hashed lines, are lain across the mineralized zones throughout the outcrop.
Table 1. Selected grab results from the Claremont Outcrop. Grab samples are selective samples and may not be representative of mineralization on the property.
|Sample ID||UTM Easting||UTM Northing||Gold g/t|
Table 2: Significant results from the Claremont Outcrop Channel Sample Program.
|Channel ID||From (m)||To (m)||Length (m)||Au (g/t)|
About the Red Lake Exploration Project
The Red Lake exploration project, located in Red Lake, Ontario, comprises 28,000 ha. The project is adjacent and proximal to past, current and near-term production mines, and is also adjacent and on trend to Great Bear’s Dixie discovery. Exploration to date includes successful 1st pass sampling, surveys and drilling. High-grade surface samples include 126.5 g/t Au and 23.3 g/t Au and 1st pass reconnaissance drilling has hit 17.5 g/t Au over a 0.5 m interval. The project also includes regional properties such as Gullrock, Pakwash, Dixie, Golden Loon, and Swain.
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.
As part of its QA/QC program, Pacton inserted rotating certified gold standards, pulp duplicates, and blanks every 20 samples. The channel samples were placed in individually labelled poly bags which were then inserted with other samples into durable rice bags and sealed. The rice bags were shipped to ALS Global - Geochemistry in Thunder Bay, Ontario and then further transported and analyzed at ALS Global – Geochemistry in North Vancouver, British Columbia. Samples were submitted for multielement analysis by Four Acid ICP-MS (ME-MS61) and Au by Fire Assay (Au-AA23).
The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., Executive Chairman and a director, and Karly Oliver, P.Geo., Vice President Exploration and a director of the Company and are Qualified Persons 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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