Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) has wrapped up high-resolution magnetic surveys at four targets on its Red Lake exploration project in Ontario, it said Tuesday.
Initial survey results defined multiple prospective areas at the Gullrock property, which is located along the same trend that hosts the famed Red Lake gold mine operated by Australia’s Evolution Mining Ltd (ASX:EVN).
Gullrock is also located contiguous to the Sobel property owned by Great Bear Resources Ltd (CVE:GBR), where two large spaciotemporal geochemical hydrocarbon (SGH) targets were recently identified and appear similar to those in Pacton’s magnetic data, according to the company.
READ: Pacton Gold set for seismic survey at its Red Lake project carried out by neighbour Pure Gold Mining
Gullrock is now “an increased priority area,” Pacton told investors in a statement. Results from the survey identified new targets and better defined existing priority targets.
High-resolution airborne magnetics data from surveys completed in 2019 and 2020 at Pacton Gold Red Lake properties
Pacton said that the data will be “instrumental” in fine-tuning the drill targeting process for the upcoming drill program.
The survey covered a total of 2,931 line kilometres at 50-metre spacing at the Gullrock, Golden Loon, Dixie and Pakwash properties, which are all part of the Red Lake exploration project.
The new priority areas will be evaluated for targeting in an upcoming drilling campaign that is expected to begin in the fall of 2020.
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