viewPacton Gold Inc.

Pacton Gold gets ready to explore five new prospective gold targets at its Red Lake, Ontario project

Work will include more drilling on the Red Lake Extension East, Madsen East and Carricona East targets as well as regional soil sampling and geophysics

Pacton Gold Inc. -
Previous drilling on Pacton's Red Lake targets returned intercepts of up to 17g/t gold

Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXD) began fieldwork to follow up on five new targets at its Red Lake gold project in Ontario, it said Wednesday.

Recent drilling at one target, known as Carricona East, hit 17.2 grams per ton gold over a depth of 0.5 metres.

Upcoming work will include more drilling on the Red Lake Extension East, Madsen East and Carricona East targets as well as regional soil sampling and geophysics.  An IP survey is planned to cover the broader MD Corridor target area.

READ: Pacton Gold acquires additional 4,800 hectares of prospective gold ground in Red Lake

Pacton is using artificial intelligence known as CARDS to help identify high priority targets on the property. CARDS combines all available public and private data sets including geophysical, drill hole, and surface data and uses an algorithm to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization in the Red Lake region.

In the first phase of drilling, which began in 2019, the program delineated an interpreted structure through the MD Corridor South Fault. Around 10 holes were drilled along the interpreted location of the southern LP fault extension and a further three holes were drilled along the northern parallel fault. Results from those three holes are pending.

Phase 2 is scheduled to start in August, which will build on drilling completed in the previous phase. The 2020 drill program will incorporate geophysical results from a fixed wing magnetic-VLF electromagnetic survey together with the results of currently ongoing geochemical surveys into the 2020 drill target planning.

The Vancouver-based company recently added two new properties in Red Lake to increase its land package in the prolific mining district to 28,072 hectares.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Pacton Gold Inc.


Price: 0.455 CAD

Market Cap: $17.1 m

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