viewPacton Gold Inc.

Pacton Gold kicks off exploration in Pilbara

First work will be on the 51%-owned Arrow project, the firm said

The company said it had started work at Pilbara

Junior resource group Pacton Gold Inc. (CVE:PAC, OTC:PACXF) has a started exploration on its large gold property portfolio in the Pilbara, it told investors.

First work will be on the 51%-owned Arrow project, which is 90km south-southwest of Port Hedland, Western Australia. The tenement is located on the shallow northern margin of the Pilbara conglomerate gold province, where Arrow Minerals discovered gold nuggets five to 10 millimetres in size.

READ: Pacton Gold bolsters board with two new directors

Exploration will consist of metal detection and gold nugget sampling of three identified pit locations and additional pits along their bedding extensions, the firm said.

Additionally, future pit and drill locations will be identified using geological mapping and radiometric methods.

Pacton also said it had appointed Jonathan King as chief geologist and general manager of exploration.

For more than 25 years, King has worked for a number public and private companies, specializing in exploration, logistics and discovery excellence.

"Following an aggressive and successful property acquisition program to become a major player in the Pilbara play, the most exciting gold play in the past 40 years, we have commenced our exploration campaign, starting with our Arrow tenements," said Alec Pismiris, interim president and chief executive of Pacton. 

"Our greater Pilbara focus is on gold, primarily in conglomerates, while keeping a watch for high-grade orogenic shear systems.

"In keeping with our management philosophy, we intend to explore aggressively and rapidly with Jonathan King, our new Chief Geologist, leading the charge."

Pacton recently raised around C$5.5mln and currently controls the third largest conglomerate-hosted gold property portfolio totalling in excess of 2,500  sq km, and continues to review additional accretive acquisitions.

Quick facts: Pacton Gold Inc.

Price: 1.16 CAD

Market: TSX-V
Market Cap: $38.31 m

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