Pacton Gold begins initial field work in Australia’s Pilbara region

Pacton Gold Inc (CVE:PAC) said Tuesday that initial field work has begun at its Yandicoogina project in Australia’s Pilbara region.

The exploration company said the program is focusing on high-grade, shear-hosted gold within a number of mineralization settings and will use rock chip sampling and mapping to prioritize targets for drill testing.

DEEP DIVE: Pacton Gold joins gold rush in Australia’s Pilbara region

Historical results from surface sampling have reported up to 199.7 grams of gold per tonne, according to Pacton, citing Western Australia Geological Survey data.

Highlights of the project, according to Pacton, include a 4.7-kilometer cumulative strike length of mapped anomalous quartz vein structures hosting gold mineralization.

Shares of the company fetched C$0.24 in Monday’s Canadian trading. They traded at US$0.18 on the OTC Markets.

Earlier this month, Pacton Gold said it had entered into a binding letter of intent to buy a 100% interest in the Tardarinna gold project in the Pilbara region.

Contact Dennis Fitzgerald at [email protected]
 

Story by ProactiveInvestors