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Pacton Gold Inc (2)
Symbol PAC
Shares Issued 33,025,519
Close 2020-09-23 C$ 1.58
Market Cap C$ 52,180,320
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Pacton Gold begins drilling at Sidace

2020-09-23 10:27 ET - News Release

Mr. Dale Ginn reports

PACTON COMMENCES 11,500 M DRILL PROGRAM AT SIDACE GOLD PROJECT IN RED LAKE, ONTARIO

Pacton Gold Inc. has commenced drilling at the Sidace project, located in Red Lake, Ont. Phase I of the 11,500-metre drill program will continue through the winter and complete in the spring of 2021. Drilling will test extensions of the Main Discovery, Upper Duck and Anderson zones, with initial focus on the Main Discovery zone. Sidace is an advanced gold project with three distinct zones of mineralization and more than 80,000 metres of historic drilling. Pacton is partnered with Evolution Mining on the Sidace project and is the current operator.

Program highlights:

  • Phase I drilling: The initial phase of drilling will be focused on the Main Discovery zone (MDZ), which has a tested strike length of 300 metres and depth of 400 metres. Drilling will target extension of the modelled mineralization along strike and at depth.
  • Phase II drilling: Phase II of drilling will focus on lateral western extension of the Upper Duck zone (UDZ) and the MDZ. Mineralization in the UDZ is associated with silicified iron formation.
  • Phase III drilling: The final stage of drilling will target a northeast-plunging mineralized trend at the Anderson zone, which is characterized by mineralization in skarn and sheared ultramafics. It will also target mineralization to the east of the MDZ.

Dale Ginn, executive chairman of Pacton, commented: "Pacton is privileged to be one of the junior explorers to have an active joint venture drill program in the Red Lake district with Evolution, the region's senior producer. Sidace is an advanced gold exploration project that has been idle since 2009 and represents a superb opportunity to increase shareholder value. The goal for phase I will be to expand the existing zones in order to increase volume and grade of mineralization. We look forward to sharing results as they come in."

About the Sidace project

Sidace is a joint venture project between Pacton Gold (39.5 per cent) and Evolution Mining (60.5 per cent). The project is located 28 kilometres northeast of the town of Red Lake, at the northern extent of the Red Lake greenstone belt. Sidace is an advanced gold project with three distinct zones of mineralization and more than 80,000 metres of historic drilling.

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 in Ontario.

The technical content of this news release has been reviewed and approved by Dale Ginn, PGeo, executive chairman and a director of the company and a qualified person pursuant to National Instrument 43-101.

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