Pacton Mobilizes Field Crew at Red Lake Gold Project
TSX VENTURE: PAC
Vancouver, British Columbia / TheNewswire / May 30, 2019 - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the "Company" or "Pacton") is pleased to announce that field crews have mobilized for the 2019 Exploration Program at the Company's Red Lake gold project in Ontario, Canada. Initial activities, including prospect-scale mapping and sampling, will focus on two key areas: Carricona and Boyden. Previous work on these high-priority targets includes trenches, pits and surface sampling, and results as high as 15.9 g/t Au, 133 g/t Au and 121.4 g/t Au have been reported historically (Figure 1). Pacton field crews uncovered trenches at the Carricona prospect and have confirmed the presence of mineralized mafic and felsic volcanic rocks with faulted contacts (Figure 4).
High-Grade Gold Targets. Initial exploration activities will include detailed mapping and sampling at historic high-grade gold occurrences. Additional targeting will include soil sampling and structural studies to target D2 structures that are coincident with mafic-felsic contacts, a similar geological setting as the recent discovery by Great Bear Resources (TSX.V: GBR) of the Bear Rimini zone (see Great Bear Resources press release dated May 28, 2019).
Highly-Prospective Geology. The high-resolution magnetics survey indicates the presence of more basalt volume and greater structural complexity within the Red Lake property than historical work has indicated (Figures 2 and 3). Importantly, small-to-large scale folding has been identified that is coincident with historic high-grade gold occurrences and felsic-mafic contacts at Red Lake.
Upcoming 10,000 m Drill Program. The initial work at Red Lake will form an important part of drill targeting. The Company has already commenced the permitting process and drilling is scheduled to begin in late summer.
Figure 1. Field photos from two of many of the pits and trenches in the Carricona area where historic sampling has been reported up to 15.9 g/t Au (1938).
Figure 2. Pacton Gold's Red Lake project with the high-resolution airborne magnetics survey and Great Bear Resources Dixie project magnetics survey. Field activities are currently focused in the red square.
Figure 3. Boyden-Carricona Area: Red traces (left image) show location of D2 fold axes and cross-structures. Green areas are magnetically interpreted as basalt, overlaid on total magnetic field (right image).
Figure 4. Surface samples collected from the carricona prospect area include mafic volcanics with sulphide mineralization (left image) and felsic volcaniclastic rocks (right image).
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., the Executive Chairman and 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.