Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) (FRA:2NKM) updated Thursday on drilling at Red Lake, Ontario, where a 10,000 metre (m) campaign using one rig has kicked off at the greenfield project.
Meanwhile, another rig is working an 11,500m program at Pacton's advanced Sidace gold asset in the district, where the firm is operator and partnered with Evolution Mining.
Initial targets at the greenfield asset are following up on results from 2019/20 reconnaissance drilling, which included assays of 17.2 grams per ton (g/t) gold over 0.5 m.
Preliminary data from a recent airborne VLF survey is now being analyzed, while final data from this geophysical survey is expected, early in 2021, said Pacton.
"With two concurrent drill programs underway, Pacton's exploration activities in the heart of Ontario's Red Lake gold rush are gaining pace," Nav Dhaliwal, the newly appointed interim CEO and President for Pacton said in a statement.
"We are currently awaiting drill results from the lab for our first round of drilling at the advanced Sidace gold exploration project. In addition, I'm pleased to confirm that the second drill rig has commenced work, following up on the gold mineralization and key structures that we encountered during our 2019/20 program. We look forward to sharing more information once received," he added.
At Sidace, drilling is targeting an extension of the Main Discovery Zone along strike and at depth.
Pacton also said data processing was now underway for the seismic survey, which was conducted at Pacton's Red Lake project by Pure Gold Mining (CVE:PGM) during August this year with final results expected later this month.
The survey was designed to define extensions to support exploration and resource expansion at Pure Gold's mine, which is adjacent to Pacton's property, and included 13 kilometres of seismic line data over Pacton's claims.
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