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.
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.
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