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VANCOUVER, Aug. 28, 2019 /CNW/ - Pacton Gold Inc. (TSXV:PAC, OTC:PACXF) (the "Company" or "Pacton") is pleased to announce that it has received an exploration drilling permit for the Red Lake Gold project from the Ontario Ministry of Northern Development and Mines. This exploration permit will allow the Company to conduct diamond drilling and outcrop cleaning and stripping.
Exploration Permit Received. The permit covers the Boyden and Carricona prospect areas within the Madsen-Dixie fault corridor where recent surface sample results have returned values up to 126.5 g/t Au from selective grabs (see Pacton news July 26, 2019). Numerous historical trenches have been uncovered in these areas that exhibit positive geological characteristics such as sheared felsic/mafic contacts and mineralized quartz veining with pyrite, galena and occasional visible gold.
Drilling and Outcrop Cleaning. Pacton will immediately begin a comprehensive outcrop cleaning/mapping program followed by a minimum 10,000 meter drilling program to begin in fall 2019. Bidding from drill contractors and other logistics are currently underway.
Multiple Drill Targets. Surface mapping and sampling activities are underway at the Red Lake Gold project to develop and advance existing high-grade gold targets. This ongoing campaign has been focused on priority targets within the Madsen-Dixie fault corridor that transects Pacton's Red Lake properties.
"First Nation's and community communication very early in exploration stages are extremely important as Pacton advances towards discovery. Receipt of our first drill permit ahead of schedule is a positive step and we look forward to operating the first comprehensive drill program in many years over the Boyden and Carricona prospects," commented Dale Ginn, Chairman.
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 R. 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
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.
SOURCE Pacton Gold Inc.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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