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Pacton Gold ramps up exploration drilling at Red Lake, where two programs are ongoing

Another rig is working an 11,500 metre program at the company's advanced Sidace gold asset, where it is operator and partnered with Evolution Mining

Pacton Gold Inc. -
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 gold over 0.5 metres

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.

READ: Pacton Gold names experienced mining industry executive as its new interim CEO and president

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.

Contact the author at giles@proactiveinvestors.com

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Price: 0.89 CAD

TSX-V:PAC
Market: TSX-V
Market Cap: $33.28 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