Pacton Gold: Tardarinna Program Commences - Targeting High-Grade, Shear-Hosted Gold In Pilbara
TSX VENTURE: PAC
Vancouver, British Columbia / TheNewswire / March 26, 2019 - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the "Company" or "Pacton") is pleased to announce that the initial field work program at the Tardarinna Gold Project in Pilbara, Western Australia, has commenced.
Exploration is focused on high-grade, at surface, visible gold mineralization in the unusual "Tardarinna" metagabbro that contains a mineralized shear zone along 1 km of known strike. Prior work generated sample grades up to 328 g/t Au, obtained from a trench dug to a depth of 10m and a width of 1m, estimated to contain 400 t grading 66.8 g/t Au. (Source: Government of Western Australia, Minedex Site Code: S0024887.) Prior work also reports eluvial gold showings downslope from the prominent, resistive gold-bearing, stockworked Tardarinna metagabbro.
Large, high-grade identified gold target: Field work is focused on high-grade, shear hosted gold mineralization within a known 10-50 m wide shear zone extending for over 1 km.
Surface gold mineralization: Previous sampling has reported grades of up to 328 g/t Au from surface with visible gold.
Historical workings: Historical eluvial gold mining has occurred downslope of the prominent Tardarinna metagabbro.
Increased target size potential: The entire Tardarinna tenement contains the structurally intense "nose" of a distinct southeast plunging syncline that is dramatically outlined by folded Tardarinna metagabbro, most of which has not been explored.
Upcoming drill program: Mapping and rock chip sampling will be used to help define the extent of gold mineralization and to plan the initial drill program.
Prospecting & Logistics Assessment: Johnathon Campbell is leading a prospecting campaign across Pacton's West Pilbara tenements to assess the near surface nuggety gold potential and also conducting a logistics assessment across Boodalyerrie, Yandicoogina and Tardarinna.
Dale Ginn, Chairman for Pacton Gold, stated "The high-grade gold mineralization at Tardarinna represents a particularly compelling target, with previous surface sampling yielding results of up to 328 g/t. This initial sampling and geological mapping program will increase our understanding of the geology, as well as the number and size of additional targets at the project, and will assist our targeting process for drilling later this year. Our initial geological work will concentrate on the gold-bearing shear stockworks of the Tardarrina metagabbro, the fold axis of the anticline near the known gold occurrences, the unexplored north trending arm of the anticline, and the Mallina formation under the eluvium between the anticlinal metagabbro arms. The Mallina formation is reported to contain gold in a similar anticlinal setting at Croydon, 45km to the north
In addition, Johnathon Campbell, a highly-regarded Pilbara prospector, will carry out a prospecting program and logistics review across Tardarinna and our other West Pilbara tenements to accelerate exploration progress."
Pacton has entered into a definitive agreement to acquire the Tardarinna Gold Project in Pilbara, Western Australia (see news release dated March 1, 2019). The Company will acquire a 100% interest in the Project by issuing 1,250,000 common shares on closing of the transaction, subject to the acceptance of the TSX Venture Exchange.
The Tardarinna Project is located approximately 125 km southwest of Port Hedland, 10 km southwest of Croydon Outcamp and 50 km southeast of Whim Creek, Western Australia (Figure 1).
Pacton's Tardarinna project is located in an area that once hosted an old Archean terrane that was completely obliterated by granodiorite and granite intrusions. This old basement was covered with sedimentary rocks of the Mallina formation of the De Grey Group, mapped as varying from 2.5 km to 10 km thick. Subsequently, a gabbro sheet-like intrusion up to 700 m thick was intruded along the bedding plane of the Mallina formation near its base. The entire area was then subjected to two significant structural events, resulting in the development of synclines made obvious by the distinctive dark metamorphosed Tardarrina gabbro, which remains over 500 m thick in most places. (Figures 2 & 3). The Tardarrina area was then completely covered by Mount Roe volcaniclastic rocks, subjected to two more minor folding events, and the emplacement of the regional Powereena dolerite dyke. Erosion subsequently exposed the Tardarrina metagabbro, leaving relatively flat-lying Mount Roe formation cover in the south and west portions of Figure 2.
The known gold mineralization in the area, apart from eluvial showings, occurs in the spectacularly folded Tardarinna metagabbro. (Figures 2 & 3). The Tardarinna metagabbro is resistant, and its strike controlled ridges dominate the local topography. The nose of a southeast plunging anticline occurs within the tenement boundary and presents an outstanding exploration target. The Tardarinna metagabbro contains a complicated, dense stockwork of sheared quartz and calcite veins, with many orientations showing obvious gold transportation into the system. The metagabbro is rich in textures, ranging from fine-grained to large grained pegmatitic texture. Gold mineralization consists of free gold, and gold associated with minor amounts of iron, copper, lead and nickel mineralization.
Figure 2. Pacton's Tardarinna Project (E 47/3745). Local geology showing multi-phase folding of metagabbro gold host rocks with spectacular large scale folding represented by alternating synclines and anticlines. The rocks between the fold arms, elluvial in nature at surface, are mapped as Mallina formation of the De Grey Group, and contain the injected Tardarinna metagabbro. The south and west portions of the area are overlain by the Mount Roe formation of basalt and volcaniclastic rocks. The Powereena dolerite dyke cuts all rocks and, except for erosion, represents the last geological event in the area.
Figure 3. Tardarrina Project. Sampling locations, geology and structure.
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 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.
R. Dale Ginn
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.