(TheNewswire)
Vancouver, British Columbia / TheNewswire / June 21, 2017 – Pacton Gold Inc. (TSXV: PAC) (the “Company” or “Pacton”) is pleased to announce assay results from the first two drill holes from its recent reconnaissance exploration program on the Tully West Gold (Creighton ) Project. Four (4) drill holes were drilled to test an historical gold zone that yielded a high-grade intersection of 36.7 g/t gold over 6.3 meters drilled by SGX Resources Inc. in 2013. The Tully West Gold Project hosts the western extension of the Tully Gold Deposit and is situated approximately 33 kilometres northeast of Timmins, Ontario. Assay results from the final two holes are in the laboratory and are expected shortly.
Dominic Verdejo, President and CEO of Pacton commented, “We are very excited to have intersected gold values in our first two holes at the Tully West Gold Project, and confirmed the presence of a high-grade gold system at depth. We are in the early stages of our evaluation of the project, but the presence of the en echelon gold vein system that was clearly identified in both holes is an excellent start, including 18.3 g/t over 0.7 m. We look forward to the results from the next set of drill holes and gaining additional technical information at the project.”
Step out drilling in 2013 by SGX encountered high grade gold mineralization in drill hole #13-38, which intersected 36.7 g/tonne Au (uncut) over 6.3 metres, 185 metres vertically below surface. This intercept occurred approximately 300 metres west of the previously established limits of the Tully Gold Deposit. Coarse visible gold was observed in the drill hole within a broad zone of mineralized quartz and carbonate veining within the host altered volcanic tuff, identical to the main Tully Deposit to the east.
The recent drill campaign, which was comprised of four (4) drill holes totalling 1,149 m, was designed to initially validate historical intercepts with stepout holes to the east and west, and to also confirm continuity of mineralization. The first two drill holes successfully identified nine (9) disparate auriferous en echelon vein systems and validated the historical intercepts and the presence of a gold system at depth.
The first drill hole, PAC-17-01, was spotted approximately 4.0 m south of drill hole SGX-13-38, and was designed to twin the previous drill hole. Drill hole PCA-17-01 encountered multiple en echelon auriferous quartz carbonate vein zones hosted within a mafic tuff dipping approximately 60 degrees north (see table below). Positive drill results from PAC-17-01 yielded 6.75 g/t Au over 0.8 m from 145.0 m to 145.8 m and 3.97 g/t Au over 0.5 m from 220.0 m to 220.5 m (see table below).
--------------------------------------------------- |PAC-17-01|From |To |Width|Vertical Depth|Grade | | |(m) |(m) |(m) |(m) |g/t Au| |-------------------------------------------------| | |100.5|102.0|1.5 |85 |2.43 | | |---------------------------------------| | |110.0|111.0|1.0 |93 |1.30 | | |---------------------------------------| | |119.0|121.3|2.3 |100 |1.66 | | |---------------------------------------| | |145.0|145.8|0.8 |122 |6.75 | | |---------------------------------------| | |150.0|150.5|0.5 |127 |1.53 | | |---------------------------------------| | |154.0|154.6|0.6 |130 |1.60 | | |---------------------------------------| | |220.0|220.5|0.5 |185 |3.97 | | |---------------------------------------| | |225.4|226.9|1.5 |188 |1.77 | | |---------------------------------------| | |367.1|368.0|0.9 |304 |1.23 | ---------------------------------------------------*Drilled widths are currently reported. True widths are not known at this time.
Drill hole PAC-17-02 was spotted and drilled 25 meters east of PAC-17-01 and encountered 5.55 g/t Au over 2.5 m from 98.0 m to 100.50 m including 18.3 g/t Au over 0.7 m from 98.8 m to 99.5 m. Results are pending for the remaining portion of PAC-17-02 as well as PAC-17-03 and 04 located 25 m west of PAC-17-04 (see table below). As with drill hole PAC-17-01, the second drill hole PAC-17-02 also intersected stacked multiple en echelon quartz carbonate vein systems hosting gold.
------------------------------------------------ |PAC-17-02 |From |To |Width|Vertical|Grade | | |(m) |(m) |(m) |Depth |g/t Au| | | | | |(m) | | |----------------------------------------------| | |76.7 |78.1 |1.4 |63 |1.28 | |----------------------------------------------| | |98.0 |100.5|2.5 |82 |5.55 | |----------------------------------------------| | “including”|98.8 |99.5 |0.7 |81 |18.3 | |----------------------------------------------| | |101.7|102.6|0.9 |85 |2.60 | |----------------------------------------------| | |162.0|170.0|8.0 |140 |0.95 | |----------------------------------------------| | “including”|164.0|165.0|1.0 |137 |2.54 | |----------------------------------------------| | “including”|168.0|170.0|2.0 |140 |1.16 | |----------------------------------------------| | |194.5|195.0|0.5 |162 |2.29 | |----------------------------------------------| | |225.0|226.0|1.0 |187 |2.40 | |----------------------------------------------| | |231.6|232.1|0.5 |193 |1.82 | |----------------------------------------------| | |339.8|347.6|7.8 |296 |0.43 | |----------------------------------------------| | |377.5|378.0|0.5 |325 |2.0 | ------------------------------------------------*Drilled widths are currently reported. True widths are not known at this time.
The host volcanic tuff unit is readily detectible by geophysics and has been traced for over 2,000 m in both eastern and western directions away from the main deposit. The Tully Deposit is interpreted to be a series of auriferous shallow dipping (extensional or ladder) stacked vein sets within a sub vertical competent mafic tuff host that is bounded by ultramafic volcanic rocks to the south and sediments to the north. This host sequence of rocks all lie within a regional east-west fault corridor, a northern splay from the Porcupine-Destor Fault. The Tully Gold Deposit has been drilled over a 1,000 m strike length to date, and to depths of over 600 m, remaining open along strike and to depth. The Creighton property which is the western extension of the Tully Deposit currently possesses an additional 480 m striking to the southwest of the current drilling to the southern claim boundary.
This program was carried out under the supervision of Peter Caldbick, P.Geo., of Pacton Gold Inc., the qualified person responsible for the news release.
The drill core was split with half sent to an accredited laboratory, Actlabs in Timmins, Ontario and fire assayed with an AA and gravimetric finish. Whole metallic assays are performed on samples containing visible gold. Check assays were also performed on pulps and rejects, as well, blanks and standards were inserted into the sample stream for QA/QC purposes.
About Pacton
Pacton Gold Inc. (TSXV: PAC) is a Canadian junior exploration company focused on mineral exploration in North America. The Company is currently advancing exploration activity on the Birch and Uchi Gold Properties adjacent to the Springpole Gold Deposit (controlled by First Mining Finance (FF: TSXV)) in the Red Lake Gold District of western Ontario and the Tully West Gold Property located northeast of Timmins, Ontario. The Company’s goal is to secure and explore quality mineral assets in the Americas.
On Behalf of the Board of Pacton Gold Inc.
Dominic Verdejo
President and CEO
For more information, please contact 1-(855)-584-0258 or dom@pactongold.com.
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the results of drilling and the prospect of the Company achieving success in exploring the Tully West Property and the impact on the Company of these events, including the effect on the 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.
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.
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