TSX-V: PAC
Last: $0.30
PACXF: US $0.24
Change: -0.01
Subscribe

News

Pacton Increases 2022 Drill Program at Red Lake, Ontario

Vancouver, British Columbia, December 13, 2021 – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “Company” or “Pacton”) is pleased to announce that it is increasing the recently announced 10,000 m drill program at its Red Lake Gold Project (see Pacton news release dated December 2, 2021). Ongoing analysis of results from the recent surface exploration program highlight multiple new gold targets in the Claremont area. The property is adjacent to Great Bear’s Dixie Project, and results from reconnaissance drilling in 2021 showed multiple geological similarities to mineralization described at Great Bear’s LP Fault. Drilling is expected to commence in February 2022.

News Highlights

  • Expanded Drill Program at Red Lake. Pacton will increase its upcoming winter drill program to test a number of new, drill ready gold targets at the Red Lake Gold Project (Figure 1). The drilling program is expected to commence by February 2022.
  • Multiple New Gold Targets. Results from the surface program highlight multiple new target areas defined by anomalous gold that are coincident with mafic-felsic contacts, regional structures and geophysical targets (Figure 2). Several hundred samples from other areas of Pacton’s Red Lake property are currently being analyzed at the laboratory.
  • Detailed Geological Mapping Complete. Following the mapping and sampling program during summer 2021, Pacton has completed an enhanced bedrock geology map of the Claremont target area (Figure 3). This new data illustrates prospective contacts and structures that will be used to advance detailed drill targeting in the area.
  • Red Lake District Analogies. The Claremont target area has multiple similarities to mineralization described at Great Bear’s LP Fault. In both areas, widespread gold mineralization is hosted in felsic volcanic rocks of the Confederation Assemblage, 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 which is interpreted to be controlled by geological contacts and structure. Based on these similarities, supported by the incoming sampling data, Pacton intends to expedite additional drill targeting along this prospective trend.

Nav Dhaliwal, Interim President and CEO for Pacton, commented, “Results from our recent, comprehensive sampling program have highlighted additional new gold targets at the Claremont area. With the emergence of these targets, and recent advances in geological mapping, Pacton has decided to increase its drilling program to aggressively test priority targets in early 2022.”

Figure 1. Pacton’s Red Lake property showing high-priority target areas to be tested in the upcoming winter drill program and the location of Great Bear’s Dixie Project.

Figure 1. Pacton’s Red Lake property showing high-priority target areas to be tested in the upcoming winter drill program and the location of Great Bear’s Dixie Project.

Figure 2. Gold assay results in soil from Pacton’s Claremont area showing multiple gold anomalies to be evaluated for drill testing.

Figure 2. Gold assay results in soil from Pacton’s Claremont area showing multiple gold anomalies to be evaluated for drill testing.

Figure 3. New bedrock geology map of the Claremont area overlain with gold anomalies in the soil.

Figure 3. New bedrock geology map of the Claremont area overlain with gold anomalies in the soil.

About the Red Lake Gold Project

The Red Lake Gold 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 first pass sampling, geophysical surveys, and drilling. High-grade surface samples include 126.5 g/t Au and 23.3 g/t Au. First 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.

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, who are both Qualified Persons pursuant to National Instrument 43-101.

On Behalf of the Board of Pacton Gold Inc.

Nav Dhaliwal
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.

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.

05.18.2022

Pacton Recieves Drill Permit for Claremont East at Red Lake Gold Project, Ontario

arrowRead More
05.17.2022

Pacton Provides Consultation Update with Red Lake First Nations

arrowRead More
04.12.2022

Pacton Provides Drilling and Sampling Update; Use of Proceeds at Red Lake Gold Project, Ontario

arrowRead More

arrowView All News

Stay up to date with our latest news:

What are you searching for?