VANCOUVER, Aug. 15, 2019 /CNW/ - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the "Company" or "Pacton") is pleased to announce that it has received and analyzed the results of a recently completed Lidar Survey over its main Red Lake, Ontario gold properties. The results have greatly improved outcrop identification and accelerated the mapping process. This is of particular importance as Pacton is currently building a list of priority targets for the initial 2019 drill program.
Lidar is a fixed wing airborne survey technique that uses laser pulses to record extremely detailed ground elevation measurements. These results have been integrated with previously announced air magnetic survey results and other field data.
Madsen-Dixie Fault Corridor Location and Detailed Structural Data: The new Lidar data confirms the presence, with high-resolution structural details, of the 50 km long fault corridor that hosts the new Great Bear Resources ("TSXV- GBR") Dixie gold discoveries to the southeast and Pure Gold's ("PGM – TSXV") Madsen area mines immediately to the northwest. The 7 km wide multi-fault corridor passes through the western portion of Pacton's Red Lake property, including the Carricona-Boyden area that is currently being mapped. (Figure 1). The importance of the Madsen-Dixie structural fault corridor is more fully described in Pacton's new release of July 16, 2019
Lidar and Magnetic Data Combine to Create Specific Exploration Tools at Red Lake: Lidar data analyzed in conjunction with magnetic data at Red Lake generated an unexpected, very strong positive correlation between higher elevations (more erosion resistant rocks) and rapid local changes in magnetic intensity. This relationship is most noticeable in the dense structural areas between the large faults of the Madden-Dixie multi-fault corridor which are interpreted as very deep clusters of Riedel shear zones, more fully described in Pacton's news release of July 16, 2019. (Figures 2, 3 and 4).
Lidar Data Generates Outcrop Maps: Pacton's main Red Lake property contains flat areas covered with dense bush. These conditions previously made it difficult to locate rock outcrops during initial mapping operations. Pacton's new Lidar data makes the location of outcrops much easier. Outcrop finder maps are generated to highlight specific locations which have sharp disruptions in elevations indicating a higher probability of exposed bedrock. (Figure 5).
Current Exploration Activities and Upcoming Drill Program: Ground mapping operations are ongoing with a view to commencing our initial 2019 drill program. Accordingly, drill permit applications have already been submitted for several areas within the Carricona-Boyden area of Pacton's main Red Lake property.
About Pacton Gold
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.
The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., Executive Chairman and a director of the Company and a Qualified Person pursuant to National Instrument 43-101.
On Behalf of the Board of Pacton Gold Inc.
R. Dale Ginn
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to 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. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.
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.
SOURCE Pacton Gold Inc.
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