VANCOUVER, Oct. 15, 2018 /PRNewswire/ - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the "Company" or "Pacton") is pleased to announce that an advanced team of reconnaissance prospectors collected gold nuggets from six locations on Pacton's Friendly Creek tenements. Pacton recently expanded its prospective exploration area in and around the Friendly Creek project with the planned acquisition of the Golden Palms tenement (E 47/3810) (Pacton News: Sept 27, 2018), and the Hong Kong tenement (E 47/3556), (Pacton News: Oct 11, 2018), (Figure 1).
An advance team of reconnaissance prospectors collected gold nuggets from six locations on Pacton's Friendly Creek tenements prior to the commencement of organized geological mapping and exploration (Pacton News: Sept 21, 2018). The gold nuggets were located in weathered material overlying a package of unclassified Mesoarchean ultramafic rocks and komatiitic basalt that extends along the Friendly Creek tenements for approximately ten km (Figure 2). The origin of the gold nuggets, which show various morphological shapes, has not yet been determined. Subject to confirmation by detailed geological mapping, it is assumed that the material has not been transported, and that the nuggets represent eluvial material that has been liberated from the underlying bedrock. This tentative interpretation is supported by the reports of historical gold workings from the same geological unit throughout the Friendly Creek tenements, and throughout Pacton's adjacent Hong Kong tenement. Massive areas of the prospective geological formation also underlie the Golden Palms tenement, which is largely unexplored.
About Pacton Gold
Pacton Gold (PAC: TSXV; PACXF: US) is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia. The Company recently raised approximately $5.5 million, currently controls the third largest conglomerate-hosted gold property portfolio totaling in excess of 2,500 km2, and continues to aggressively review additional accretive acquisitions.
The technical content of this news release has been reviewed and approved by Peter Caldbick, P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.
On Behalf of the Board of Pacton Gold Inc.
Interim President and CEO
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.