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Pacton Gold set to drill at joint venture Sidace project in Red Lake, Ontario

Sidace is a joint venture between Pacton, which owns 39.5% and Australia-listed mid-tier miner Evolution Mining, which has 60.5%

Pacton Gold Inc. -
It will focus on expansion drilling at all three mineralized zones at the property, including the Main Discovery, Upper Duck and Anderson zones

Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) is set to kick off drilling at its Sidace project in the prolific Red Lake area of Ontario in the coming weeks after it received an exploration permit for an 11,500 meters (m) program.

Sidace is a joint venture between Pacton, which owns 39.5%, and Australia-listed mid-tier miner Evolution Mining Ltd (ASX:EVN), which has 60.5%.

READ: Pacton Gold reveals new target areas along the prolific Red Lake gold trend in Ontario

Drilling will focus on expansion drilling at all three mineralized zones at the property, including the Main Discovery, Upper Duck and Anderson zones, said Pacton, which is the operator.

The Sidace project is advanced and home to three distinct zones of mineralization. More than 80,000 meters of historic drilling has been undertaken.

It lies 28 kilometres northeast of the town of Red Lake and is at the northern extent of the Red Lake Greenstone belt.

Meanwhile, Evolution Mining operates four wholly-owned mines in Australia and holds an economic interest in the Ernest Henry copper-gold mine in Queensland, Australia.

In April this year, it acquired a 100% interest in the Red Lake gold mine in Ontario and for fiscal 2021, it is guiding gold production of between 670,000 and 730,000 ounces of the yellow metal at an all-in sustaining cost (AISC) of between US$900 and US$940 per ounce.

Explorer Pacton has key strategic partners and is focused on gold properties located in the district-scale Pilbara gold rush in Western Australia and Red Lake, Ontario, Canada.

Contact the author at giles@proactiveinvestors.com

Quick facts: Pacton Gold Inc.

Price: 1.3 CAD

TSX-V:PAC
Market: TSX-V
Market Cap: $42.93 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