- Host to unconsolidated gold-bearing terrace gravels and conglomerates.
- Initial prospecting by Pacton at Friendly Creek, Egina, has discovered numerous samples of gold associated with quartz.
- Pacton’s Egina projects are contiguous with Novo Resources’ Egina tenements
Strategic, prospective location: Pacton’s Egina properties are contiguous with Novo Resources Corp.’s extensive Egina tenements which contain gold-bearing lag gravels that overlie Mesoarchean age orogenic gold occurrences, and locally, formations of the basal Fortescue Group. To the southeast of the Novo tenements, Pacton’s Friendly Creek, Hong Kong and Golden Palms tenements contain gold showings, including gold nuggets, in areas of Mesoarchean basalts, and in lag gravels mapped as alluvial deposits. To the west and northwest of the Novo project, Pacton’s Arrow South and Arrow North projects contain Archean orogenic gold prospects that are partially covered with extensive layers of alluvial gravels and conglomerates.
Recent Work Program Success: Multiple samples of gold at surface associated with quartz veining has been discovered by Pacton’s team within the Friendly Creek tenement package. Gold specimens associated with quartz indicate possible liberation 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.