VANCOUVER, BC / ACCESSWIRE / September 15, 2020 / Pacton Gold Inc. (TSXV:PAC)(OTC PINK:PACXF)(FSE:2NKN) (the "Company" or "Pacton") is pleased to announce the completion of high-resolution airborne magnetic surveys at the Gullrock, Pakwash, Dixie, and Golden Loon properties - part of Pacton's large Red Lake exploration project, in Red Lake, Ontario (Figure 1). Initial survey results have defined multiple prospective areas of folding and faulting, most notably at Pacton's Gullrock property (Figures 2 and 4). The Company is currently in the final stages of targeting, prior to commencing drilling in Fall, 2020.
The Gullrock property is located along the structural trend hosting Evolution Mining's (ASX: EVN) Red Lake Gold Mine (Figure 3). The new data better defines the location of the mine trend structure on the Gullrock property. The property is also along trend and contiguous to Great Bear Resources' (TSVX: GBR) Sobel property, where recent geochemical work identified two large Spaciotemporal Geochemical Hydrocarbon ("SGH") targets. These targets are associated with structures which appear similar to those identified in Pacton's magnetic data (Figure 4). Mapping and prospecting at the Gullrock property is ongoing, and the new priority areas of interest will be evaluated for targeting in the upcoming drilling campaign.
News Highlights
- New airborne magnetic survey completed: A total of 2,931 line kilometers at 50 meter spacing was flown at Pacton's Gullrock, Golden Loon, Dixie and Pakwash properties - part of the Company's Red Lake exploration project.
- Gullrock property now an increased priority area. Gullrock is along trend from Evolution's Red Lake gold mine and adjacent, along trend to Great Bear's Sobel property. The new survey data has increased the priority of select targets at Gullrock.
- New areas of interest and enhanced definition of priority targets. Results have identified new targets and provided greater definition of existing priority targets. The data will be instrumental in fine tuning the drill targeting process for the upcoming drill program.
- Pacton now in final stage of preparation and targeting for drilling. Targets will continue to be evaluated for the upcoming Phase 2 drill campaign, scheduled to begin in Fall 2020.
Figure 1. High-resolution airborne magnetics data from surveys completed in 2019 and 2020 at Pacton Gold Red Lake properties.
Figure 2. New magnetics data at Pacton's Gullrock property provides greater definition to target areas along the Red Lake Mine trend.