Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) has commenced drilling at the Sidace gold project in Red Lake, Ontario.
Phase I of the 11,500 meters (m) drill program will continue through the winter and will be completed in the spring of 2021, the company said in a statement Wednesday.
Paxton said drilling will test extensions of the Main Discovery, Upper Duck and Anderson zones, with an initial focus on the Main Discovery Zone.
Sidace is an advanced gold project with three distinct zones of mineralization and more than 80,000m of historic drilling. Pacton is partnered with Evolution Mining Ltd (ASX:EVN) on the Sidace project and is the current operator.
Program highlights include:
- The initial Phase 1 drilling will be focused on the Main Discovery Zone (MDZ), which has a tested strike length of 300m and a depth of 400m. Drilling will target extension of the modelled mineralization along strike and at depth.
- Phase II of drilling will focus on the lateral western extension of the Upper Duck Zone (UDZ) and the MDZ. Mineralization in the UDZ is associated with silicified iron formation.
- The final stage, or Phase III of drilling will target a northeast plunging mineralized trend at the Anderson Zone, which is characterized by mineralization in skarn and sheared ultramafics. It will also target mineralization to the east of the MDZ.
"Pacton is privileged to be one of the junior explorers to have an active joint venture drill program in the Red Lake district with Evolution, the region's senior producer,” said Dale Ginn, executive chairman for Pacton.
“Sidace is an advanced gold exploration project that has been idle since 2009 and represents a superb opportunity to increase shareholder value. The goal for phase I will be to expand the existing zones, in order to increase volume and grade of mineralization. We look forward to sharing results as they come in."
Sidace is a joint venture project between Pacton (39.5%) and Evolution Mining (60.5%). The project is located 28 kilometers northeast of the town of Red Lake, at the northern extent of the Red Lake Greenstone belt. Sidace is an advanced gold project with three distinct zones of mineralization and more than 80,000m of historic drilling.
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