Pacton Gold Inc. is fully financed to carry out drill-oriented gold exploration on its extensive landholdings (28,000 hectares) in the heart of Ontario’s 30-million ounce Red Lake Gold District.
Pacton’s currently has six active Red Lake area properties and one property in the Uchi area to the northeast. Our two main Red Lake properties are located immediately south and east of the town of Red Lake, and adjacent to the Evolution Mining operations consisting of three mines and two mills, recently acquired by Evolution from Goldcorp.
Pacton’s largest property, located south of the town of Red Lake, includes a major mineralized structure, the Madsen-Dixie corridor, with Pure Gold’s Madsen mine immediately to the west, and Great Bear’s new discoveries to the southeast. In the eastern part of the Red Lake camp, adjacent to Evolution’s large mine and mill complex, Pacton holdings include the southeastern extension of the Red Lake Mine trend.
EXPLORATION : numerous geochemical, geophysical surveys, Lidar surveys and geological mapping programs were executed in order to define priority areas for drilling.
2D SEISMIC: During 2020, Pure Gold conducted 15-line km of 2D seismic on Pacton’s main Red Lake property to support exploration and resource expansion at the Pure Gold Madsen Mine Complex, adjacent to Pacton’s Red Lake property boundary.
3D SEISMIC: The results of Pure Gold’s 2020 2D seismic survey on Pacton’s property adjacent to the producing Madsen mine were successful. Accordingly, Pure Gold will be conducting a large 3D seismic survey. A 94-line km seismic grid is being cut to conduct the 3D survey in during the early 2022 winter season.
DRILLING: 10,000m initial 2021 drill program underway
SIDACE JOINT VENTURE WITH EVOLUTION MINING: Pacton holds a 39.5% interest and is the operator of the Sidace Joint venture. Evolution Mining holds a 60.5% interest. The Sidace JV is an advanced gold project along the northern extension of the Red Lake gold camp, and has records that includes drill data from 81,600 meters of historic drilling. Preliminary results from a planned 2021 11,300m drill program includes several high-grade gold intersections. Pacton’s 100% owned Golden Loon property is adjacent and to the north of the Sidace JV.
AUSTRALIAN PROJECTS: In February 2021, Pacton sold a 75% interest in three of its Western Australin Pilbara area gold properties for cash and shares in an ASX-listed company. Pacton currently holds a 100% interest in three additional Pilbara properties, with exploration to resume in May 2021.