NEW YORK, April 5, 2018 /PRNewswire/ --

Gold price rose higher on Wednesday as trade tensions between China and the U.S. increased. Gold Spot rose 0.22 percent to $1,335.73 per ounce during the Wednesday's trading session, while U.S. Gold future for June delivery was up 0.11 percent to $1,338.8 per ounce. On Wednesday, China announced new tariffs that are designed to impact 106 U.S. products, including soybeans, cars and some airplanes. The move came less than 24 hours after the U.S. presidential administration announced their plans to impose 25 percent tariffs on a list of about 1,300 Chinese products. Gold is considered as a safe-haven asset during times of political uncertainty. Pacton Gold, Inc. PACXF, Newmont Mining Corp NEM, Barrick Gold Corp ABX, Agnico Eagle Mines Ltd AEM, Goldcorp Inc. GG    

According to Kitco News, the consultancy Metals Focus said in a report released Wednesday that gold will be likely to hit $1,450 an ounce by the end of the year. "Based on the above, we believe that the range-bound conditions, which gold has experienced during the first three months of this year, are likely to also persist during the second quarter, Indeed, our projections call for an almost identical trading range of $1,290-$1,360 and a period average that is virtually flat q/q, Beyond that point, however, we continue to see scope for the gold price to break higher, potentially testing $1,450 before the end of this year," the consultancy added.

Pacton Gold, Inc. PACXF is also listed on the TSX Venture Exchange under the ticker (TSX-V: PAC). Earlier today the company announced breaking news that, "it has entered into a letter of intent ("LOI"), whereby it can earn up to an 80% ownership interest in Arrow (Pilbara) Pty Ltd ("Arrow Pilbara"), an Australian proprietary limited exploration company wholly owned by Arrow Minerals Limited AMD ("Arrow").  Arrow Pilbara holds two granted tenement licences and two applications for licences, comprising of a total of 609 km2 (the "Property").  The large Property is situated in the eastern part of the currently defined part of Western Australia's Pilbara gold play that is characterized by thick gold nugget-bearing conglomerate beds of the Archean age Mallina Basin. Highlights of the Transaction:

• Strategic land holdings totaling 609 km2, with recent discovery of gold nuggets from outcropping conglomerates. Nuggets 5 to 10 mm in size have been discovered on the Property.
• Seven conglomerate gold targets have been identified with characteristicradiometric anomalies;
• Directly adjacent and proximal to key exploration properties controlled by Novo Resources Corp., De Grey Mining Ltd., and Kairos Minerals Ltd.;
• Gold anomalies identified along structures which host gold mineralization on adjacent properties.

Alec Pismiris, Interim President and CEO of Pacton Gold stated, "We are pleased to be able to partner with the Arrow Minerals team, who have been able to assemble a significant portfolio of advanced gold projects with excellent prospectivity that will provide key exploration and discovery upside for the shareholders of Pacton. Pacton's Pilbara gold project is fast becoming one of the most significant in the Pilbara region."

The Property comprises two exploration licences and two exploration licence applications covering 609 km2 of ground prospective for conglomerate-hosted gold in the Pilbara region of Western Australia (refer to location map). The licences cover various parts of the prospective contact between the older Pilbara granite-greenstone terrain and the overlying Fortescue Group rocks in the East Pilbara region, including areas close to and adjoining licences held by Novo Resources Corp. (refer to location map).  

Arrow confirms that prospectors have recently uncovered several gold nuggets inconglomerate units in the Mallina Basin on exploration license E47/3476.  Geological and prospecting information on the Property has been provided by Arrow, which the Company has reviewed and believes to be reliable.

In addition to the gold nuggets found during the short prospecting trip, there is considerable evidence of previous prospector activity throughout the tenement.  The short prospecting programme was completed on exploration licence E47/3476.  Arrow completed targeting exercise over E47/3476 (north) and E47/3478 (south), highlighting nine (9) conglomerate or basement gold targets.

Arrow has reprocessed available radiometric surveys, highlighting seven (7) conglomerate gold targets with radiometric anomalies over mapped conglomerates and meta-sediments of the Mallina Basin. (see Figure 3 below and at company website http://www.pactongold.com )

Historical surface geochemistry data was also reviewed as part of the initial targeting exercise with three (3) of the radiometric anomalies having coincident elevated gold in streams, and gold in soil samples, confirming the prospectivity of the tenements. The remaining four (4) conglomerate gold targets have not had any previous exploration, and are prioritized for exploration.

The two basement gold targets are located along significant shear structures splaying off the Mallina Shear, which hosts De Grey Mining Limited's (De Grey) DEG Indee Gold Project, and the Blue Moon Prospect and associated nuggets, which was recently acquired by De Grey (see Figure 4 below and at company website http://www.pactongold.com ). Target 1 is a gold anomaly situated along splay faults off the Mallina and Wohler Shears.  Target 2 is located along the same structure as the Blue Moon Prospect and is also a coincident radiometric anomaly within conglomeratic sediments. Arrow has recently completed a review of its recently acquired tenements (E45/5042 and E45/5043) which cover the prospective Mallina Basin, and the Tabba Tabba Shear adjacent to the Cooke's Hill gold mine…"

Newmont Mining Corp NEM announced earlier this year that it has been recognized for top performance in the mining sector in The Sustainability Yearbook 2018. The Yearbook is published by RobecoSAM, a sustainability investment firm that manages one of the most comprehensive databases of financially material sustainability information in the world. RobecoSAM's assessment is used to determine the composition of the Dow Jones Sustainability World Index (DJSI World), which ranked Newmont as the mining industry's overall leader in 2015, 2016 and 2017. "We're honored to be recognized as a mining industry leader in sustainability by RobecoSAM," said Gary Goldberg, President and Chief Executive Officer. "Mining is a long-term business and our ability to create value - which we've done for nearly a century and plan to do far into the future - rests on our ability to operate responsibly. That means protecting the health and safety of our people, minimizing our impact on the environment throughout the mine life cycle, and sharing the wealth our business generates fairly with investors, employees, host communities and governments."

Barrick Gold Corp ABX outlined this February plans to maximize long-term value from the Company's portfolio of high-quality, long-life gold operations and projects. These assets are clustered in core districts throughout the Americas, and support a sustainable long-term production profile with significant optionality and upside. Barrick's core objective remains to grow free cash flow per share over the long term, with an uncompromising commitment to safety and environmental sustainability, working in partnership with our host governments and communities. Barrick also reported preliminary results of a scoping-level study to expand throughput at the Pueblo Viejo mine (60 percent interest), and provided updates on greenfield projects including Alturas, Donlin Gold (50 percent interest), Norte Abierto (50 percent interest), and Pascua-Lama.

Agnico Eagle Mines Ltd AEM has acquired recently 1,740,500 units ("Units") of Orla Mining Ltd. (TSX-V: OLA) ("Orla") at a price of $1.75 per Unit for total consideration of $3,045,875.  Each Unit is comprised of one common share of Orla (a "Common Share") and one-half of one common share purchase warrant of Orla (each full common share purchase warrant, a "Warrant").  Each Warrant entitles the holder to acquire one Common Share at a price of $2.35 at any time prior to February 15, 2021. Agnico Eagle acquired the Units pursuant to a public offering of Units by Orla under a short form prospectus (the "Offering").  The Offering closed on February 15, 2018.

Goldcorp Inc. GG last week announced that it has deposited the first gold onto Tradewind's blockchain, known as VaultChain™, as the "genesis block".  A genesis block is the first block in a blockchain and represents a tremendous milestone for blockchain technology. Goldcorp's 3,000 ounce gold deposit, valued at US$4 million, originated from the storied Red Lake Gold Mines complex and is the first example of blockchain technology being used to record and manage physical precious metals in an institutional setting. "We are excited to be an investor in Tradewind and participate in the launch of VaultChain, a cutting-edge technology that integrates physical gold into a blockchain," said David Garofalo, President and CEO at Goldcorp. "We believe physical gold stored on a blockchain will increase the utility of the commodity and, ultimately, drive value in the price of gold.  We are thrilled to be an early adopter of this 21st century platform and deposit its first bar of gold."

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