Mr. R. Dale Ginn reports
PACTON PRESENTS HISTORIC HIGH-GRADE GOLD RESULTS AND NEXT STEPS FOR RED LAKE, ONTARIO
Following the compilation of data from prior work programs on its Red Lake gold property in Ontario, Pacton Gold Inc. has added significant historic, high-grade gold results to its exploration database. Numerous high-grade gold occurrences occur on the property, including historical surface samples with values of 133 grams per tonne Au, 37.3 g/t Au and 15.9 g/t Au.
The addition of the northern property (see press release dated Feb. 26, 2019) has extended Pacton's contiguous land package in the Red Lake gold camp to approximately 25 kilometres in an east-west direction and an average of seven km in a north-south direction. This land package lies immediately south of Goldcorp's producing claims, immediately south of the Madsen mine and Wedge zone currently being developed by Pure Gold, and to the north of the high-grade Dixie zone currently being drilled by Great Bear Resources.
A high-resolution helicopter magnetics survey is under way. Together with the showings and historical sampling, trenching, and diamond drilling, the survey will assist with the identification of D2 structures and prioritization of drill targets at Red Lake.
Highlights from Pacton's compilation of historical exploration work by various companies between 1936 and 2006 are summarized in the attached table.
SIGNIFICANT INTERCEPTS FROM HISTORICAL DRILLING
Location Type Grade Description Company
Northern property Drill hole 24 g/t Au over 1 m Veining hosted in D2 shear at SkyHarbour Resources
mafic volcanic contact (H03-03) (2003)
Central property Trench sample 121.4 g/t Sheared, mineralized contact East West Resources
of mafic and felsic volcanic (1997)
rocks with visible gold
described
Central property Trench sample 80.6 g/t Sheared, mineralized contact East West Resources
of mafic and felsic volcanic (1997)
rocks with visible gold
described
Central property Trench sample 33 g/t Sheared, mineralized contact East West Resources
of mafic and felsic volcanic (1997)
rocks with visible gold
described
Central property Grab sample 35.7 g/t Boyden Main showing: Sheared Boyden Lake Gold Mines
contact of mafic volcanic (1936)
with veining
Central property Trench sample 133 g/t Boyden showing: Sheared Sunridge Gold Corp.
contact between mafic (2002)
volcanic and mineralized
felsic porphyry
(sample MJ-H-02-02)
Northwestern property Trench sample 15.9 g/t Carricona zone, Pit No. 6: D2 Goldbrae Developments
shear at contact of (1938)
mineralized felsic intrusive
rock
Northwestern property Trench sample 37.3 g/t, 8.7 g/t Pit No. 3: D2 shear at Heyson Red Lake
contact of mineralized Gold Mines (1936)
felsic intrusive rock
Northwestern property Trench sample 8.7 g/t Pit No. 3: D2 shear at Heyson Red Lake
contact of mineralized Gold Mines (1936)
felsic intrusive rock
Southwestern property Drill hole 0.26 g/t Au over 10.32 m Shear zone at contact of United Bolero (2006)
felsic intrusive rock
(SB-06-09)
Note
A qualified person from Pacton Gold has not verified these assay results. These results have been tabulated from
assessment files and the Ontario Mineral Deposit Inventory.
Pacton's land package overlaps with the prolific Balmer assemblage and contains the contact between Confederation and Balmer assemblage rock units as well as folded mafic and ultramafic volcanics with mafic and felsic intrusives also present. Until the recent success of Great Bear Resources' high-grade Dixie project, exploration to date within Confederation assemblage rock units has been limited and sporadic with most of the Red Lake work concentrated in Balmer assemblage units which host the majority of gold produced from the area. The compilation of historical results indicates that the Confederation assemblage does host gold mineralization within Pacton's Red Lake property that may be coincident with regional D2 structures.
In 2006, a lithoprobe transect seismic survey was conducted in the Red Lake and camp crossed the current Pacton property north to south. Numerous deep fault structures were interpreted reaching up to 12 km in depth.
The high-resolution helicopter magnetics survey will focus on identifying D2 structures and folding that are proposed to have significant control on gold mineralization in the Red Lake area.
About Pacton Gold Inc.
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. Pacton's Red Lake mineral claims are strategically located between Pure Gold's Madsen property, including the Wedge zone, and Great Bear Resource's Dixie discovery. The property geology is made up of two key packages known to host significant gold mineralization in the district. The Confederation assemblage and the Balmer assemblage host the high-grade gold mineralization at Great Bear Resources' Dixie project and Pure Gold's Madsen property, respectively.
The technical content of this news release has been reviewed and approved by Peter Caldbick, PGeo, 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.
We seek Safe Harbor.
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