Proactiveinvestors USA & Canada Pacton Gold Inc. Proactiveinvestors USA & Canada Pacton Gold Inc. RSS feed en Wed, 17 Jul 2019 09:40:26 -0400 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Pacton Gold shares soar as it prepares to kick off exploration in Red Lake ]]> Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) has mobilized field crews in readiness for a new exploration program at the company’s Red Lake gold project in Ontario.

The Vancouver-based company announced Thursday that initial activities will focus on the Carricona and Boyden areas of the project. Work will include prospect-scale mapping and sampling.

Shares of Pacton jumped 13.1% in Thursday morning trading to hit C$0.09 in Toronto and were trading at US$0.12 on OTC markets.

READ: Pacton Gold unveils encouraging results from Red Lake project

Previous exploration work at the two targets have returned high-grade gold results, which is not surprising considering the project’s location in Red Lake, Ontario, home to some of the most valuable gold mines in the world.

Gold grades from samples taken from Carricona and Boyden range from nearly 16 grams per ton to as high as 133 grams per ton.

Pacton’s field crews previously uncovered trenches at Carricona and confirmed the presence of mineralized volcanic rocks on the property.

The junior explorer is confident that the Red Lake project contains highly prospective geology based on results from a high-resolution magnetic survey showing the geology has the potential to host high-grade gold mineralization as proven by mineralized zones elsewhere on Pacton's land package, as well as major gold deposits in the Red Lake district.

An upcoming 10,000 metre drill program is expected to begin by late summer 2019.

Pacton's Red Lake claims lie between Pure Gold Mining's Madsen property, including the Wedge Zone, and Great Bear Resource's Dixie discovery.

Contact Angela at

Follow her on Twitter @AHarmantas

Thu, 30 May 2019 10:43:00 -0400
<![CDATA[Media files - Pacton Gold encouraged after positive magnetic survey at Red Lake property in Ontario ]]> Fri, 26 Apr 2019 10:04:00 -0400 <![CDATA[News - Pacton Gold unveils encouraging results from Red Lake project ]]> Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) has unveiled positive exploration results from its Red Lake property in Ontario, which have shown multiple areas of interest.

A high resolution airborne magnetic survey was  flown by Prospectair of Gatineau, Quebec, and initial results indicate multiple areas of interest, showing small-to-large scale folding and faulting.

Shares of Pacton were up 9% at C$0.19 on Thursday.

READ: Pacton Gold Inc looking for high grade gold at Tardarinna as it kicks off field work

This type of geology has the potential to host high-grade gold mineralization as proven by mineralized zones elsewhere on Pacton's land package, as well as major gold deposits in the Red Lake district, the company said.

Pacton is now set to begin an initial field exploration program, which will include following up on historical sampling, gold showings, trenching and diamond drilling, along with the geophysical survey and soil sampling.

"The recent, significant exploration success near Pacton's Red Lake project was achieved by focusing on specific geological structures that include high-iron mafic rocks and D2 related folding and faulting. Our recent survey has successfully established the presence of all these components at our project and identified their locations. We are now in a position to commence targeted field exploration activity that will culminate in a drill program," said Dale Ginn, executive chairman at Pacton.

Pacton also said it had struck an option deal to acquire 100% ownership of additional mineral claims in the Red Lake District, Ontario.

Pacton's Red Lake claims lie between Pure Gold Mining's Madsen property, including the Wedge Zone, and Great Bear Resource's Dixie discovery.

The claims lie south of Great Bear Resource's Dixie project along the Pakwash fault. The company can earn a 100% interest  by paying a total of $90,000 and issuing  250,000 shares over two years. The transaction is subject to the acceptance of the TSX Venture Exchange.

Contact Giles at

Thu, 25 Apr 2019 12:51:00 -0400
<![CDATA[News - Pacton Gold Inc looking for high grade gold at Tardarinna as it kicks off field work ]]> Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) revealed initial field work had started at a "compelling" target in Pilbara, Western Australia, where previous surface sampling has shown up to 328 g/t (grams per ton) gold.

Earlier this month, Vancouver-based Pacton said it had struck a binding letter of intent to buy a 100% interest in the Tardarinna gold project, which is around 25 km southwest of Port Hedland, 10 km southwest of Croydon Outcamp and 50 km southeast of Whim Creek.

READ: Pacton Gold rises on letter of intent to buy 100% of gold project in Australia’s Pilbara region

Fieldwork will be focused on high-grade gold mineralization within a known 10-50 m (meter) wide shear zone extending for over 1km.

"This initial sampling and geological mapping program will increase our understanding of the geology, as well as the number and size of additional targets at the project, and will assist our targeting process for drilling later this year," said Dale Ginn, Pacton's chairman, in a statement Monday.

"Our initial geological work will concentrate on the gold-bearing shear stockworks of the Tardarrina metagabbro, the fold axis of the anticline near the known gold occurrences, the unexplored north trending arm of the anticline, and the Mallina formation under the eluvium between the anticlinal metagabbro arms."

Previous work at the so-called "Tardarinna" metagabbro threw up sample grades up to 328 g/t of the yellow metal, which came from a trench dug to a depth of 10m and a width of 1m, estimated to contain 400 t (tons) grading 66.8 g/t gold.

Historical mining

Notably, historical eluvial gold mining has occurred downslope of the prominent Tardarinna metagabbro.

Pacton also told investors today that Johnathon Campbell, a highly-regarded Pilbara prospector, will carry out a prospecting program and logistics review across Tardarinna and the firm's other West Pilbara tenements to accelerate exploration progress.

The company is focused on the exploration and development of high-grade gold properties located in the district-scale Pilbara gold rush in Western Australia and the famous Red Lake district in Ontario, Canada.

Shares added 4.55% to $0.23.

Contact Giles at

Follow him onb Twitter @Gile74

Tue, 26 Mar 2019 08:19:00 -0400
<![CDATA[News - Pacton Gold poised to start drilling at Red Lake in May as it buys more claims ]]> Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) revealed it expects to start drilling at the famous Red Lake district on Ontario this May, as it told investors it is set to buy more claims there.

The Vancouver-based company has struck a deal with Larry Herbert to acquire 100% ownership of the additional claims, which are contiguous and to the northwest of Pacton's current landholdings in the prolific Balmer Assemblage.

READ: Pacton Gold set to identify drill targets at Red Lake; presents historical finds

It means Pacton now holds 16,630 hectares in the area.

"Pacton's Red Lake land package now spans a large, underexplored area of the prolific Balmer Assemblage and Confederation Assemblage, as well as much of the contact between the two," said Dale Ginn, executive chairman of Pacton. "We view this as a clear opportunity to capitalize on prospective ground that hosts geological structures of considerable interest. Our team has an aggressive exploration program planned for this spring, and we expect to commence drilling in May."

The Balmer Assemblage hosts significant high-grade mineralization at Pure Gold's Madsen mine and Goldcorp's Red Lake and Campbell mines, which combined, have produced more than 20 million oz (ounces) of gold. 

The new property contains geology consistent with known areas of high-grade gold mineralization, highlighted Pacton.

Helicopter survey

To earn a 100% interest in the new claims, Pacton must complete a heli-mag survey on the property and issue 325,000 shares. it must also pay $100,000 over two years.

The property is subject to net smelter return (NSR) royalties of 2.5%, half of which can be purchased by Pacton for $2 million.

The prolific Red Lake mining district has produced more than 30 million ounces of gold and benefits from major active mining operations, including the Red Lake Gold Mine of Goldcorp Inc (NYSE:GG), plus modern infrastructure and a skilled workforce.

Shares in Toronto were unchanged at $0.235.

Contact Giles at

Follow him on Twitter @Gile74

Tue, 19 Mar 2019 08:31:00 -0400
<![CDATA[News - Pacton Gold begins initial field work in Australia’s Pilbara region ]]> Pacton Gold Inc (CVE:PAC) said Tuesday that initial field work has begun at its Yandicoogina project in Australia’s Pilbara region.

The exploration company said the program is focusing on high-grade, shear-hosted gold within a number of mineralization settings and will use rock chip sampling and mapping to prioritize targets for drill testing.

DEEP DIVE: Pacton Gold joins gold rush in Australia’s Pilbara region

Historical results from surface sampling have reported up to 199.7 grams of gold per tonne, according to Pacton, citing Western Australia Geological Survey data.

Highlights of the project, according to Pacton, include a 4.7-kilometer cumulative strike length of mapped anomalous quartz vein structures hosting gold mineralization.

Shares of the company fetched C$0.24 in Monday’s Canadian trading. They traded at US$0.18 on the OTC Markets.

Earlier this month, Pacton Gold said it had entered into a binding letter of intent to buy a 100% interest in the Tardarinna gold project in the Pilbara region.

Contact Dennis Fitzgerald at

Tue, 12 Mar 2019 08:48:00 -0400
<![CDATA[News - Pacton Gold rises on letter of intent to buy 100% of gold project in Australia’s Pilbara region ]]> Pacton Gold Inc (OTCMKTS:PACXF) (CVE:PAC) gained Friday after saying it has entered into a binding letter of intent to buy a 100% interest in the Tardarinna Gold Project in Western Australia’s Pilbara region.

The company said the acquisition of the prospective property, enhances Pacton’s exposure to high-grade, shear-hosted gold within the Pilbara. Exploration targeting is underway and will be followed by field-based exploration across the property, according to Pacton.

Shares of Pacton Gold rose 3.9%, to C$0.265 in Friday’s Canadian trading.

READ: Pacton Gold buys more ground in Red Lake district

Under the terms of the letter of intent, Pacton will acquire a 100% interest in Tardarinna through the issuance of 1.25 million common shares. The deal will be formalized by a definitive agreement and is subject to the acceptance of the TSX Venture Exchange, according to Pacton.

The company said as much as 328 grams of gold per tonne has been reported by historical surface samples. In addition, Pacton said shallow eluvial gold workings have been identified in the southeastern quadrant of the project.

Earlier this week, the company said it was increasing its foothold in the Red Lake district in Ontario by buying more claims from Frontline Gold Corp.

The stock slipped 0.88% to US$0.20 on the OTC Markets.

Contact Dennis Fitzgerald at

–This story has been updated to give the latest share prices–

Fri, 01 Mar 2019 09:58:00 -0500
<![CDATA[Media files - Pacton Gold increases foothold in the Red Lake district ]]> Tue, 26 Feb 2019 11:39:00 -0500 <![CDATA[News - Pacton Gold makes TSX Venture's top-performers list ]]> Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) is looking golden after being named one of TSX Venture Exchange’s top-performing companies in 2019.

The Vancouver-based junior exploration company made the Venture Exchange's 2019 TSX Venture 50 list. 

The list of 50 companies comprises 10 from each of five sectors, selected based on market cap growth, share price appreciation and trading volume.

READ: Pacton Gold further strengthens footprint in famous Red Lake district

"During the past year we have aggressively established ourselves in two of the most promising gold exploration districts in the world, namely Western Australia and Red Lake, Ontario," said executive chairman Dale Ginn. 

"This year's focus will be on actively exploring our projects for high-grade gold and we anticipate that Pacton Gold will continue to be one of the most active gold explorers on the Venture Exchange during 2019 and beyond."

Shares of Pacton Gold were at C$0.26 on Thursday.

Contact Katie Lewis at

Follow her on Twitter @kelewis

Thu, 21 Feb 2019 11:31:00 -0500
<![CDATA[News - Pacton Gold bolsters board with two new directors ]]> Pacton Gold Inc (CVE:PAC) (OTC:PACXF) has bolstered its board, with the hiring of Allan J. Folk and Alec Pismiris as directors.

Folk brings over 35 years' leadership experience in the Canadian mining finance industry.  During his career, he has financed and advised both junior and advanced Canadian companies at the senior board or executive level.

READ: Pacton Gold speeds up Arrow Pilbara acquisition, strengthening hand in Western Australia

Pismiris is currently the group's interim president and chief executive. He has more than 30 years' experience in the securities, finance and mining industries and is currently a director of several ASX-listed companies.Pismiris has served as a director and in senior management positions for numerous ASX-listed companies and notably, was a founding shareholder and director of Papillon Resources, which in 2014 was acquired by B2 Gold for C$615mln. Pismiris was also a founding shareholder and director of Cardinal Resources, which discovered the Namdini Gold project in Ghana and recently unveiled a resource estimate of 7.4mln ounces of gold.

“On behalf of the board, I would like to welcome Mr. Folk and Mr. Pismiris to our Board. They both have extensive experience in the mining sector and capital markets and are ideal candidates for moving Pacton forward.”

Tue, 28 Aug 2018 09:07:00 -0400
<![CDATA[Media files - Pacton Gold acquires Bellary Dome gold project in northwestern Australia ]]> Wed, 20 Jun 2018 15:36:00 -0400 <![CDATA[News - Pacton Gold poised to acquire prospective project in famous Pilbara region ]]> Junior explorer Pacton Gold Inc (CVE:PAC) is poised to acquire the Bellary Dome project in the famous Pilbara mining region of Australia, sending shares higher.

It has struck a binding letter of intent (LOI) to acquire the project from Marindi Metals Inc, the group revealed on Wednesday.

A regional gold play?

Marindi's initial work at the property has only just begun to highlight the potential for this to be just one part of a much larger regional gold play across the Pilbara region of Western Australia.

The project has a number of attractive features, including that it lies on the southern margin of the Hamersley Basin and is surrounded by Novo Resources Ltd (CVE: NVO) - a big player in Pilbara.

Over six ounces of coarse gold nuggets have previously been recovered from one alluvial "trap site", directly downslope from mapped Bellary Formation conglomerate.

The nature of the nuggets recovered is very similar to those recovered by Novo around 250 km to the north, Pacton highlighted.

The Bellary Dome occurs on the southern edge of the Hamersley basin.

Tenements neighbouring the licence are held by companies also conducting exploration for gold-in-conglomerate, including Novo Resources, Southern Hemisphere Resources and Hardey.

Significant strike length..

"The acquisition of Bellary Dome provides access to a significant strike length of highly prospective Hardy Formation and Mount Roe Basalts, where multiple flattened nuggets have been recovered proximal to the Bellary Formation conglomerate," said Alec Pismiris, the interim president and chief executive at Pacton.

"The property is surrounded by Novo Resources and with over six ounces of gold nuggets recovered from one alluvial trap site, that were pitted, flattened, and in the elongated "watermelon seed" shape, provides additional key priority exploration targets for Pacton."

The mining group also noted that the prospectivity of the licence was further highlighted by the presence of numerous alluvial gold workings, prospecting pits with gold values ranging from anomalous to 38.2 g/t (grams per ton) gold, and recent modern gold prospecting activity.

Under the terms of the LOI, which is yet to be formalized, the firm must pay C$2mln and issue around 10mln shares on closing.

It must also pay C$1mln or issue shares equal to that amount both on 12 months and 18 months after the deal is completed.

Pacton Gold shares advanced  7.46% to C$0.72 in Toronto.

Wed, 20 Jun 2018 11:54:00 -0400
<![CDATA[News - Pacton Gold profiled in report: ‘Chasing nuggets in Australia next to Novo Resources’ ]]> Pacton Gold Inc (TSE:PAC) was recently profiled in a report titled ‘Chasing nuggets in Australia next to Novo Resources’.

The paper, completed by Caesars Report, highlighted that the company could benefit from its proximity to Novo Resources, as it continues to develop its projects in Western Australia’s mineral-rich Pilbara region.

READ: Pacton Gold extends reach with acquisition of mining leases; shares pop

The report covered a range of topics, including Pacton’s exploration and growth via acquisitions, feasibility, financing, team structure, future plans and more.

As quoted in the publication:

“Pacton Gold has been able to put a large land position together in just a few months. Of course, Pacton is and should be seen as an early stage exploration company but with proven gold (nugget) occurrences on several of the tenements it purchased/is earning in to. It is clear that there’s a lot of smoke in the Pilbara region and now it’s up to Pacton Gold to find the source of that smoke.

We think having Novo Resources as first mover could be beneficial to Pacton Gold, as Novo will do all the heavy lifting in terms of A) educating the market and B) designing the exploration programs as efficient as possible.”

Pacton shares were up 18.81% and closed at C$0.91 on Monday.

To read the report in its entirety, click here.

Tue, 29 May 2018 00:02:00 -0400
<![CDATA[News - Pacton Gold extends reach with acquisition of mining leases; shares pop ]]> Bright news for Pacton Gold Inc. (CVE:PAC) today after it released news that it has entered into a binding letter of intent to acquire 100% of the Friendly Creek exploration licence and mining leases from Gardner Mining Pty. Ltd., an Australian exploration company, and Darren White.

Markets responded positively to the news with shares of Pacton up 20.3% at C$0.77 on Monday afternoon.

Friendly Creek is located in in Western Australia’s Pilbara region, historically one of the richest-known areas for alluvial nuggets. Historically, a large amount of alluvial fine-grained gold to multiple considerable-sized nuggets have been recovered, including significant finds in 1888 (127oz) and 1892 (165oz).

READ: Pacton Gold expands footprint with acquisition of Drummond East; shares rise sharply

"The acquisition of the Friendly Creek project, with granted mining leases, clearly places Pacton with a strategic advantage ahead of our peers in creating the opportunity to rapidly conduct large-scale bulk-sampling programs,” said Alec Pismiris, interim president and chief executive officer

“The historical discovery of large gold nuggets at Friendly Creek in Western Australia, and an identified mineralized strike length of 10 kilometres, is compelling to justify an upcoming intensive exploration program."

The acquisition would allow Pacton to bolster its portfolio, with five granted mining leases and one granted exploration licence, covering 31.4 sq/km. According to the company, the mining leases would provide potential for immediate large-scale bulk sampling, with existing infrastructure, including an operational camp.

Key neighbours

Friendly Creek is located next door to key exploration projects, controlled by Novo Resources Corp. and Kairos Minerals Ltd.

"We look forward to working closely with the Gardner team as we continue to focus on understanding the true potential of our strategic portfolio holdings and as we look to complete additional accretive acquisitions,” said Pismiris.

Under the terms, which will be formalized by a definitive agreement among the parties, Pacton will purchase a 100% ownership interest in Friendly Creek by paying the vendors a total of C$25,000 and issuing 2.5 million common shares.

The transaction is subject to acceptance of the TSX Venture Exchange.

Mon, 28 May 2018 15:51:00 -0400
<![CDATA[News - Pacton Gold expands footprint with acquisition of Drummond East; shares rise sharply ]]> Pacton Gold Inc (CVE:PAC) announced encouraging news today as it entered a binding letter of intent to acquire 100% of the shares in Drummond East Pty Inc, an Australian exploration company wholly owned by Impact Minerals Ltd. The market responded positively to the news, with shares up 30.6%, closing at C$0.64. 

Drummond East holds seven tenement licences, comprising 1,126 sq/km of prospective ground for gold in the Pilbara region of Western Australia.

"We are pleased to make accretive acquisitions that strategically place Pacton as the third largest land holder in Western Australia's Pilbara conglomerate-hosted gold region,” said Pacton’s interim president a chief executive officer, Alec Pismiris. “Pacton continues to further consolidate the region through key property evaluations, and the addition of Drummond East increases our land holdings to 2,227 sq km.”

Under the letter of intent, Pacton will purchase 100% of the shares in Drummond East, by issuing 2,125,000 common shares of Pacton and paying Impact Minerals C$350,000.

A bonus of C$500,000 will be paid to Impact Minerals if Pacton publishes measured, indicated, or inferred gold resources of over 250,000 ounces on the property. A 2% net smelter royalty will be agreed upon between the parties and Pacton Gold will retain exclusive rights to purchase 50% of the of the net smelter return back from Impact Minerals for C$500,0000.

Exploration in the area looks bright

There are a number of projects in the area, and exploration potential is encouraging, in particular to the west and east of Marble Bar, as well as close to to the Beatons Creek gold deposit near Nullagine. Previously recorded results of up to 11.2 g/t gold have been recorded at the Glen Herring project, 10km west of Marble Bar.

Neighbours include Novo Resources Corp and Kairos Minerals Ltd.

Pacton will also benefit from the expertise of Dr. Mike Jones, Impact Minerals’ managing director, whose PhD studies focused on conglomerate-hosted gold in the northern source areas for the Witwatersrand Basin.

"The Impact Minerals team, led by Dr. Mike Jones, have successfully assembled a significant portfolio of advanced gold projects that present excellent prospectivity for discovery upside for the shareholders of Pacton,” said Pismiris.

“The Impact transaction solidifies our presence in the region, and is directly in line with our mandate to become one of the leaders in the Pilbara Gold Rush. With a strong treasury and financial backers, we are aggressively reviewing other opportunities.”

The company said a finders fee may be paid.


Tue, 22 May 2018 12:19:00 -0400