VANCOUVER, BC / ACCESSWIRE / July 23, 2020 / Pacton Gold Inc. (TSXV:PAC)(OTC PINK:PACXF)(FRA:2NKN) (the "Company" or "Pacton") is pleased to announce that it will begin a new expansion drill program at the Sidace JV project in Red Lake, while continuing field work at its separate Red Lake exploration project. Pacton (39.5% interest) and JV partner, Evolution Mining (60.5% interest), have approved a $2.44 million exploration program that includes 11,500 m of drilling, together with re-logging and re-sampling historic drill core and geophysics. Both Pacton and Evolution Mining will be contributing to the program budget, and Pacton will run the program as Operator.
- 11,500 m drill program will focus on expanding all three mineralized zones at the project, including: Main Discovery Zone ("MDZ"), Upper Duck Zone ("UDZ") and the Anderson Zone
- Permitting for the approved program is already underway
- Re-logging, re-sampling and updated geological modelling already in progress
- Pacton plans to contribute $2.19 million to the proposed budget for the project. Evolution Mining plans to contribute $0.25 million for a total proposed budget of $2.44 million.
About the Sidace Project JV
The Sidace property is located 28 km north east of the town of Red Lake, at the northern extent of the Red Lake Greenstone belt (Figure 1). The project is an advanced gold project with three distinct zones of mineralization and more than 80,000 meters of drilling.
Figure 1. Bedrock geology at the Sidace JV project showing the locations of the Main Discovery, Upper Duck, and Anderson zones.
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., Executive Chairman and a director of the Company and a Qualified Person pursuant to National Instrument 43-101.
On Behalf of the Board of Pacton Gold Inc.
R. Dale Ginn
For more information, please contact 1-(855)-584-0258 or firstname.lastname@example.org.
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.
SOURCE: Pacton Gold
View source version on accesswire.com: