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Pacton Gold kicks off surface exploration at Red Lake project in Ontario to generate drill targets

Published: 09:04 26 May 2021 EDT

Pacton Gold Inc. -
Due to the challenges of the pandemic, lab turnaround times have been delayed and assays are still pending from multiple holes at Red Lake asset and the Sidace gold project

Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) (FRA:2NKM) said it has started an extensive surface exploration campaign at its 28,000 hectares (Ha) Red Lake project in Ontario, in a bid to generate targets for the next drilling campaign, expected to begin in the third or fourth quarter of 2021. 

The first phase will focus on soil sampling at priority areas and will cover around 2,800 ha, extending from sample grids from last year.  It will include prospecting, grab sampling and permitting. 

READ: Pacton Gold sells remaining 25% interest in Arrow, Yandicoogina and Boodalyerrie properties in the Pilbara, WA

Phase 2 will include outcrop stripping, channel sampling and soil and till sampling, the company said.

Due to the challenges of the pandemic, lab turnaround times have been delayed and assays are still pending from multiple holes at both the company's Red Lake asset and the Sidace gold project, which is a joint venture with Evolution Mining Ltd (ASX:EVN) (OTCMKTS:CAHPF) (FRA:WE7). Pacton holds 39.5%, while Evolution has 60.5%.

Pacton said it expects to receive all outstanding assays for both projects in the coming weeks.

"As we await assays from our Sidace and Red Lake projects in the Red Lake gold rush, we are already rolling out a comprehensive surface program," Nav Dhaliwal, interim president and CEO for Pacton, told investors.

"The new, multi-phase program will focus on our early-stage Red Lake project. Multiple teams have been deployed, concentrating on a selection of key areas identified through prior work programs. Results from the surface work will be used for targeting in the drill program planned in late 2021."

Pacton is focused on high-grade gold properties located in the Red Lake gold rush in Ontario, Canada. It also owns a strategic portfolio of prospective projects in the district-scale Pilbara gold rush in Western Australia.

Contact the author at giles@proactiveinvestors.com

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