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Pacton Gold to launch 11,500 meter drill program at Red Lake joint venture in Ontario

Pacton and its partner, Evolution Mining, have approved a C$2.44 million exploration program

Gold bars and Canadian money
Sidace is considered an advanced gold project with more than 80,000 meters of drilling

Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) has announced plans Thursday to begin a new expansion drill program at the Sidace joint venture (JV) gold project in Red Lake, Ontario.

Pacton and its JV partner, Evolution Mining, have approved a C$2.44 million exploration program that includes 11,500 meters of drilling, along with re-logging and re-sampling historic drill core and geophysics.

Pacton plans to contribute $2.19 million, and Evolution Mining is expected to put in the remaining $250,000, the company said. Pacton will run the program in October, which will focus on expanding all three mineralized zones: the Main Discovery Zone, Upper Duck Zone and the Anderson Zone.

READ: Pacton Gold closes C$6.6 million financing to advance new targets at Red Lake gold property

Sidace is considered an advanced gold project with more than 80,000 meters of drilling. Re-logging, re-sampling and updated geological modelling already in progress, the company said. 

Pacton also said it plans to continue work at its own separate Red Lake exploration project. Overall, Pacton owns a 39.5% interest in the Red Lake JV, and Evolution Mining owns a 60.5% interest.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

Quick facts: Pacton Gold Inc.

Price: 1.64 CAD

TSX-V:PAC
Market: TSX-V
Market Cap: $54.16 m
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Pacton Gold announces 11,000 metre drill program for Sidace JV Project

Pacton Gold (CVE: PAC- OTC: PACXF) CEO Dale Ginn joined Steve Darling from Proactive to discuss the news the company is about to begin a new drill program at their joint venture project Sidace in Red Lake. Ginn discusses how big the program will be and where they are planning to drill. Ginn...

on 3/8/20

2 min read