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Pacton Gold Inc.

Pacton Gold preparing for drill program at Red Lake properties with new survey data

The Vancouver-based company recently completed a new Lidar survey over its projects in the historic gold district.

Pacton Gold Inc. - Pacton Gold preparing for drill program at Red Lake properties with new survey data
Pacton is building a list of priority targets at Red Lake for its initial 2019 drill program

Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) is building a list of promising drill targets at its Red Lake properties thanks to new Lidar survey data.

The junior miner improved outcrop identification and accelerated the mapping process at the company’s Red Lake, Ontario gold properties, the explorer told investors Thursday.

The Vancouver-based company recently completed a new Lidar survey over the projects in the historic gold district.

READ: Pacton boosts land package in Red Lake with two highly prospective projects

Pacton is building a list of priority targets at Red Lake for its initial 2019 drill program, the company said in a statement.

The new data confirmed the presence and showed high-resolution structural details of a 50-kilometre-long fault that hosts Great Bear Resources Corp’s Dixie gold discovery and Pure Gold Mining’s Madsen project, both high-grade deposits. The 7-kilometre-wide fault runs through the western portion of Pacton’s Red Lake property.

Lidar results also generated new outcrop maps on the main property, which is covered in dense bush. Outcrop finder maps are generated to uncover certain locations that have sharp disruptions in elevations, which indicate a higher probability of exposed bedrock.

The Lidar data made pinpointing the location of outcrops much easier, Pacton said in a statement.

The explorer also said that Lidar data combined with magnetic survey results generated an unexpected strong correlation between higher elevations and rapid local changes in magnetic intensity, creating specific exploration tools at Red Lake.

Pacton told shareholders that ground mapping operations are ongoing as it prepares to commence an initial drill program on the property before the end of the year.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Pacton Gold Inc.

Price: $0.20

Market: TSX-V
Market Cap: $33.47 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

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