Ontario grants exploration permit for Pacton Gold’s Red Lake Project

30 August 2019 (Last Updated August 30th, 2019 09:58)

Pacton Gold has received an exploration drilling permit from the Ontario Ministry of Northern Development and Mines for its Red Lake Gold project in Canada.

Pacton Gold has received an exploration drilling permit from the Ontario Ministry of Northern Development and Mines for its Red Lake Gold project in Canada.

The permit enables the company to conduct diamond drilling and outcrop cleaning and stripping at the project site. It comprises Boyden and Carricona prospect areas within the Madsen-Dixie fault corridor, where the recent surface sampling results stood at 126.5g/t Au from selective grabs.

Numerous historical trenches were uncovered in these areas exhibiting positive geological characteristics such as sheared felsic/mafic contacts, mineralised quartz, galena, and occasional visible gold.

Pacton will begin a comprehensive outcrop cleaning and mapping programme imminently, followed by a 10,000m drilling programme to commence this year.

It has also begun surface mapping and sampling activities at the Red Lake Gold project to advance existing high-grade gold targets.

This ongoing programme is focused on drilling key targets within the Madsen-Dixie fault corridor which transects Pacton’s Red Lake properties.

Pacton Gold executive chairman Dale Ginn said: “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 programme in many years over the Boyden and Carricona prospects.”

In February, Pacton Gold signed an agreement to acquire additional mineral claims in the Red Lake District.

In May 2017, the company signed an option agreement with Frontline Gold to acquire a 100% interest in three mineral property groups in the Red Lake project.