Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) (FRA:2NKM) told investors Wednesday that it plans to accelerate its ongoing drill program at its two Ontario gold properties in 2021.
The junior exploration company began a 10,000 metres (m) program at its Red Lake gold project and an 11,500m program at its Sidace project in 4Q 2020.
At Red Lake, the Vancouver-based company said it will complete the 10,000m program before analyzing geophysics and sampling data in preparation for a property-wide surface exploration program that will develop new targets before Phase II drilling begins.
READ: Pacton Gold brings in over C$3.6M after closing oversubscribed financing
Last year, Pacton intersected near surface gold mineralization at the Carricona and Madsen-Dixie Corridor targets that revealed grades of up to 17.2 grams per ton (g/t) gold over 0.5m.
High-resolution airborne magnetics data from surveys completed in 2019 and 2020 at Pacton's Red Lake properties
Over at Sidace, Pacton will start drill testing the western extension of the Upper Duck and Main Discovery zones and commence a Phase III program consisting of drilling the northeast plunging mineralization at the Anderson zone.
"During 2021, Pacton will continue accelerating exploration activity at our greenfield and our advanced gold exploration projects in Ontario's Red Lake gold rush,” interim CEO Nav Dhaliwal said in a statement.
“We currently have two drill rigs in operation and are awaiting assays from initial holes, as well as final results from multiple surveys. All of this anticipated data will be key as we look to finalize the next round of drill targets for follow up in the coming months."
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas