VANCOUVER, Nov. 15, 2018 /CNW/ - Pacton Gold Inc. (TSXV:
PAC, OTC: PACXF, FSE: 2NKN) (the "Company" or
"Pacton") is pleased to announce that it has scheduled a
helicopter and ground supported rock chip sampling and detailed
geological mapping program on its 62 km2 Boodalyerrie
tenement (E 45/3586). Boodalyerrie is located 85 km northeast
of the town of Nullagine, and Novo Resources Corp's (TSXV: NVO)
Beatons Creek project. (Figure 1).
Highlights of exploration undertaken at Boodalyerrie to
date:
- Multiple quartz vein reefs extend over a total cumulative
strike length of at least 23 km within an area of 25
km2, and range in thickness between 1 to 10 m
- Significant high-grade rock chip samples of up to 200g/t Au
(Plenty River Corporation Ltd, 2000)
- Channel sampling results of up to 3
m at 88.6g/t Au (Plenty River Corporation Ltd,
2000)
- Multiple small scale historic high grade workings
documented
- Potential exists for high-grade vein hosted gold
mineralizing system associated with the Yilgalong Granite quartz
veins. Target style has never been drill tested
Although half of the Boodalyerrie tenement is covered by
sedimentary and volcanic rocks of the Fortescue Group, including
surface exposures of the Mount Roe, Hardey and Kylena formations,
the focus of the immediate exploration program will be to define
the extents and controls of gold mineralization within steeply
dipping quartz veins hosted in older Archean granitic basement
rocks. This extensive swarm of gold-bearing, quartz veins have
thicknesses ranging from 1 to 10 m
and extend along strike lengths of up to 2.5 km throughout a 25
km2 area. Geological mapping indicates that the veins
were emplaced into the Archean granitic basement rocks before the
deposition of the overlying Fortescue Group. Accordingly, the
mapped vein system is expected to extend under the thin cover of
Fortescue formations. (Figures 2 & 3).
Exploration conducted in 2000, indicated the Boodalyerrie veins
are prominent, protruding surface features that dip steeply in a
north and north west criss-cross pattern and extend along strike
for several kilometers. The 1 m
to 10 m thick veins are composed of
white and/or grey quartz, and carry minor sulphides, principally
pyrite and galena. Surface and grab samples have been reported by
Plenty River Corporation Ltd, in 2000, as grading up to 200 g/t
gold, and with a channel sample returning 88.6 g.t gold over
3 m.
Image analysis suggests that a secondary target type of interest
consists of dense swarms of smaller quartz vein stockworks that
extend throughout the tenement. (Figure 5).
Pacton has not independently verified the Boodalyerrie sampling
results but considers them to be sufficiently reliable to justify
more detailed exploration. Mr. Robert
Jewson, BSc., Mineral Exploration & Mining Geology, and
Managing Director of Geonomics Australia will be supervising the
implementation of the Boodalyerrie exploration program.
The November-December Boodalyerrie work program will consist of
detailed geological mapping and rock chip sampling in order to
define the controls and extents of mineralization. Unexplored parts
of the vein swarm, together with areas of intense vein stockworks
will be mapped and surface sampled. Additionally, a preliminary
reconnaissance sampling program will be undertaken in the
southwestern portion of the Boodalyerrie tenement, which is
underlain by the Mount Roe and Hardey formations of the Fortescue
Group.
About Pacton Gold
Pacton Gold is a well-financed Canadian junior with key
strategic partners focused on the exploration and development of
conglomerate-hosted gold properties located in the district-scale
Pilbara gold rush in Western Australia.
The technical content of this news release has been reviewed and
approved Peter Caldbick, P.Geo., 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.
ON BEHALF OF THE BOARD OF PACTON GOLD INC.
Alec Pismiris
Interim President & CEO
This news release contains or refers to forward-looking
information based on current expectations, including, but not
limited to the Company completion of the proposed transaction
described herein, the prospect of 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.
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.
