Pacton Gold: Field Work Targeting High-Grade Gold at Yandicoogina, Pilbara, WA
TSX VENTURE: PAC
VANCOUVER, March 12, 2019 /CNW/ - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the "Company" or "Pacton") is pleased to announce the commencement of initial field work at Pacton's Yandicoogina Project, where historical results from surface sampling have reported up to 199.7 g/t Au. The work program is targeting high-grade, shear-hosted gold within a number of mineralization settings and will use rock chip sampling and mapping to prioritize targets for drill testing.
- Strike length: 4.7 km cumulative strike length of mapped anomalous quartz vein structures hosting gold mineralization.
- Historical sampling results show strong gold mineralization in multiple locations: Rock chip sampling reported results of up to 199.7 g/t Au at surface (Western Australia Geological Survey).
- Prioritizing targets for upcoming drill program: Results from the current program will be used to rank targets based on further exploration potential and to prioritize for drill testing planned for 2019.
Figure 1. Pacton's Yandicoogina Project. Note: Geology, historic locations and grades were obtained from Western Australia Geological Survey archives. Grades noted in Figure 1, and historic mine production statistics of 198.8 kg from 3,232 t of ore yielding an average grade of 61.52 g/t gold do not conform to current disclosure standards, and are not to be relied upon.
Dale Ginn, Executive Chairman of Pacton Gold, stated, "Pacton's Yandicoogina project hosts high-grade gold bearing systems that are readily apparent and exposed at surface. It also has coarse nuggets from surface prospecting that appear to be from a vein source and have not been subjected to significant transportation. What the project lacks is any significant amount of drilling to depth. Our initial program will therefore focus on prioritizing targets for drill testing the high-grade concentrations at Yandicoogina."
The Yandicoogina Gold Project is located 52 km to the south east of Marble Bar in the Pilbara Region of Western Australia. The Project covers a contiguous land holding of 164 km2 consisting of two granted exploration tenements (E45/3474 and E45/3571) and three granted mining leases located inside tenement (E45/3474).
Access to the project from Marble Bar is via the Marble Bar Road to the south east thence via station tracks which take you toward the Black Shepherd Mine.
The Project covers an extensive portion of the Warrawoona Archaean Greenstone Belt. Previous exploration activities have predominantly focused towards the greenstone portion of the project with a considerably limited effort placed on the Mt Edgar Mylonite Complex which is host to the high-grade Death Adder and Granite Prospects.
The initial work program will involve detailed geological mapping and rock chip sampling of priority defined prospects including Granite, Death Adder, Black Shepherd, Uncle Tom and Trilby. Through completing this first phase of activities a further understanding of the controls and extents of mineralisation for each of the prospects will be obtained. Prioritization, drill planning and permitting to drill will commence immediately following the completion of the initial work program.
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 Dale Ginn, P.Geo., a director and Executive Chairman of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.
On Behalf of the Board of Pacton Gold Inc.
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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