VANCOUVER, Jan. 31, 2019 /CNW/ - Pacton Gold
Inc. (TSXV: PAC, OTC: PACXF) (the "Company" or
"Pacton") is pleased to announce that it has commenced a
high-resolution heliborne magnetic survey over Pacton's claims in
Red Lake, Ontario (Figure 1). This
is the initial step in order to prioritize upcoming drill targets
as part of an aggressive exploration strategy going forward in this
prospective area.
Pacton Red Lake Key Highlights:
- Completion of heliborne magnetic survey to identify high
priority D2 structures in the Red
Lake district
- Surface programs to commence on both geological and geophysical
targets in 2019
- Geologically and structurally similar to Great Bear's Dixie
Project
Pacton's mineral claims are strategically located between Pure
Gold's Madsen property including
the Wedge Zone and Great Bear Resource's Dixie discovery. Recent
drill results from Great Bear Resources (TSX.V: GBR) reported
190.78 g/t Au over 5.90 meters including 1,600 g/t Au over a drill
width of 0.7 meters in the Hinge Zone (see Great Bear Resources
press release dated January 16,
2019). Pacton's Red Lake
property geology is similar to the geology that hosts the
high-grade discoveries at the Dixie project and Pacton will be
using the geophysical data to focus on D2 structures that are
proposed to have significant control on gold deposits in the
Confederation Assemblage (Figure 2).
About Pacton Gold
Pacton Gold (PAC: TSXV; PACXF: US) is a well-financed
Canadian junior with key strategic partners focused on the
exploration and development of their Red
Lake project in North-Western Ontario and their
conglomerate-hosted gold properties located in the district-scale
Pilbara gold rush in Western Australia. The Company currently
controls the third largest conglomerate-hosted gold property
portfolio totaling in excess of 2,500 km2, and continues
to aggressively review additional accretive acquisitions.
The technical content of this news release has been reviewed and
approved by Peter Caldbick, P.Geo.,
a director of the Company and a Qualified Person pursuant to
National Instrument 43-101. The qualified person has not yet
verified the data disclosed, including sampling, analytical, and
test data underlying the information or opinions contained in the
written disclosure.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President and CEO
This news release may contain or refer to forward-looking
information based on current expectations, including, but not
limited to the Company achieving success in exploring its
properties and the impact on the Company of these events, including
the effect on its share price. Forward-looking information is
subject to significant risks and uncertainties, as actual results
may differ materially from forecasted results. Forward-looking
information is provided as of the date hereof and we assume no
responsibility to update or revise such information to reflect new
events or circumstances. References to other issuers with nearby
projects is for information purposes only and there are no
assurances the Company will achieve similar results.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor
their Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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SOURCE Pacton Gold Inc.