Shares of Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) perked up after it announced Thursday that it has started its work program at its high-grade vein system at Boodalyerrie, in Pilbara, Western Australia.
Pacton Gold shares were up 4.2% at C$0.25 on Thursday.
The company said it has scheduled a helicopter and ground-supported rock chip sampling and detailed geological mapping program on its 62 sq/km Boodalyerrie tenement.
Boodalyerrie is located 85 km northeast of the town of Nullagine, close to Novo Resources Corp's (CVE:NVO) Beatons Creek project.
READ: Pacton Gold seals Golden Palms property acquisition in Western Australia
To date, there have been a number of exploration highlights at Boodalyerrie, including multiple quartz vein reefs extending over a strike length of at least 23 km, high-grade rock chip samples of up to 200 grams per ton gold (g/t) and channel sampling results of up to 3 metres (m) at 88.6g/t gold.
The company said that 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.
The gold-bearing, quartz veins have thicknesses ranging between 1 metre and 10 metres and extend along strike lengths of up to 2.5 km throughout a 25 sq/km area.
Previous exploration conducted in 2000
Exploration conducted in 2000 indicated that the Boodalyerrie veins are prominent, protruding surface features that dip steeply in a north and northwest criss-cross pattern and extend along strike for several kilometres.
The company said that while it has not independently verified the Boodalyerrie sampling results, image analysis suggests that a secondary target type of interest consists of dense swarms of smaller quartz veins.
The upcoming work program in November/December will focus on detailed geological mapping and rock chip sampling in order to define the controls and extents of mineralization.
Unexplored parts of the vein swarm will be mapped and surface-sampled.
The company said in addition to this, a preliminary reconnaissance sampling program will commence in the southwestern portion of the Boodalyerrie tenement, which is underlain by the Mount Roe and Hardey formations of the Fortescue Metals Group (ASX:FMG).
Contact Katie Lewis at katie@proactiveinvestors.com
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