Pacton Gold to start 11,500m drill program at Sidace JV Project in Red Lake
Pacton Gold Inc. will begin a new expansion drill program at the Sidace JV project in Red Lake, while continuing field work at its separate Red Lake exploration project. Pacton and JV partner, Evolution Mining (60.5% interest), have approved a $2.44 million exploration program that includes 11,500 m of drilling, together with re-logging and re-sampling historic drill core and geophysics. Both Pacton and Evolution Mining will be contributing to the program budget, and Pacton will run the program as Operator.
Program Highlights
- 11,500 m drill program will focus on expanding all three mineralized zones at the project, including: Main Discovery Zone ("MDZ"), Upper Duck Zone ("UDZ") and the Anderson Zone
- Permitting for the approved program is already underway
- Re-logging, re-sampling and updated geological modelling already in progress
- Pacton plans to contribute $2.19 million to the proposed budget for the project. Evolution Mining plans to contribute $0.25 million for a total proposed budget of $2.44 million.
About the Sidace Project JV
The Sidace property is located 28 km north east of the town of Red Lake, at the northern extent of the Red Lake Greenstone belt (Figure 1). The project is an advanced gold project with three distinct zones of mineralization and more than 80,000 meters of drilling.
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