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Pacton Gold set to identify drill targets at Red Lake; presents historical finds

On Tuesday, Pacton revealed it continues to increase its foothold in the Red Lake district

A gold pour
Pacton is on the hunt for gold at the famous Red Lake district

Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) released details of its exploration database of the Red Lake gold property, which contains high-grade historic finds.

It comes after the group yesterday revealed it continues to increase its foothold in the Red Lake district - famous for mining - by buying further claims there from Frontline Gold Corp.

READ: Pacton Gold buys more ground in famous Red Lake district

With that acquisition, Pacton now holds a contiguous land package of around 25 km in an east-west direction and an average of 7 km in a north-south direction.

This package lies immediately south of Goldcorp Inc's producing claims and south of the Madsen Mine and Wedge Zone currently being developed by Pure Gold, and to the north of the high-grade Dixie Zone currently being drilled by Great Bear Resources Ltd.

Pacton is now carrying out a helicopter magnetics survey.

Combined with historical sampling, trenching, and diamond drilling, the survey will assist to identify D2 structures and to prioritize drill targets at Red Lake.

Highlights from Pacton's compilation of historical exploration work by various companies between 1936 and 2006 include 24 g/t gold over 1 m at the Northern Property (drill hole), 121.4 g/t at the Central Property (trench), and 15.9 g/t  gold at the Northwestern property (trench). At the Southwestern property, there was 0.26 g/t gold over 10.32m in a drill hole.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Pacton Gold Inc.

Price: 0.135 CAD

TSX-V:PAC
Market: TSX-V
Market Cap: $23.17 m
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Pacton Gold encouraged after positive magnetic survey at Red Lake property...

Pacton Gold (CVE:PAC-OTC: PACXF) Executive Chairman Dale Ginn joined Steve Darling from Proactive Investors Vancouver to discuss the latest airborne results from their Red Lake, Ontario Project.  Ginn also providing gave Proactive an update on the company's projects in Western...

on 26/4/19

2 min read