Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) told investors that its neighbour in Red Lake, Pure Gold Mining Inc (CVE: PGM) is to carry out a seismic survey at Pacton's Red Lake gold project.
The work is aimed at defining extensions of mineralization to support exploration and resource expansion at Pure Gold's Madsen mine, scheduled to commence production this year.
The survey will include 13 km of seismic line data over Pacton's claims.
"We are pleased to be working with our neighbours at Pure Gold as they near production at their Madsen gold mine," said Dale Ginn, executive chairman at Pacton.
Ginn added the timing of the survey was particularly useful as Pacton is entering the final stages of drill targeting at the adjacent Red Lake exploration project, and the data will be of "significant value in prioritizing our targets".
Notably, seismic lines on Pacton's project closely overlap several high priority exploration areas identified using artificial intelligence technology, and the data will enhance the targeting in those regions, added the firm.
Permits have been received for the survey, and crews will mobilize in August, it added.
Pacton is focused on advancing gold properties located in the district-scale Pilbara gold rush in Western Australia and the Red Lake district of Ontario.
Pacton shares nudged up 3.45% to C$1.20 in early Toronto deals.
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