VANCOUVER, Aug. 28, 2019 /CNW/ - Pacton Gold Inc.
(TSXV: PAC, OTC: PACXF) (the "Company" or
"Pacton") is pleased to announce that it has received an
exploration drilling permit for the Red Lake Gold project from the
Ontario Ministry of Northern Development and Mines. This
exploration permit will allow the Company to conduct diamond
drilling and outcrop cleaning and stripping.
Exploration Permit Received. The permit covers the
Boyden and Carricona prospect areas within the Madsen-Dixie fault corridor where recent
surface sample results have returned values up to 126.5 g/t Au from
selective grabs (see Pacton news July 26,
2019). Numerous historical trenches have been uncovered in
these areas that exhibit positive geological characteristics such
as sheared felsic/mafic contacts and mineralized quartz veining
with pyrite, galena and occasional visible gold.
Drilling and Outcrop Cleaning. Pacton will
immediately begin a comprehensive outcrop cleaning/mapping program
followed by a minimum 10,000 meter drilling program to begin in
fall 2019. Bidding from drill contractors and other logistics
are currently underway.
Multiple Drill Targets. Surface mapping and sampling
activities are underway at the Red Lake Gold project to develop and
advance existing high-grade gold targets. This ongoing campaign has
been focused on priority targets within the Madsen-Dixie fault corridor that transects
Pacton's Red Lake properties.
"First Nation's and community communication very early in
exploration stages are extremely important as Pacton advances
towards discovery. Receipt of our first drill permit ahead of
schedule is a positive step and we look forward to operating the
first comprehensive drill program in many years over the Boyden and
Carricona prospects," commented Dale Ginn, Chairman.
About Pacton Gold
Pacton Gold is a Canadian exploration company with key strategic
partners focused on the exploration and development of high grade
conglomerate and orogenic gold properties located in the
district-scale Pilbara gold rush in Western Australia and the Red Lake District, Ontario.
The technical content of this news release has been reviewed and
approved by R. Dale Ginn, P.Geo.,
Executive Chairman and a director of the Company and a Qualified
Person pursuant to National Instrument 43-101.
On Behalf of the Board of Pacton Gold Inc.
R. Dale Ginn
Executive Chairman
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.