Ankündigung • Jun 09
Pacton Receives Final Order Approving Plan of Arrangement with Trillium Gold Mines Inc Trillium Gold Mines Inc. and Pacton Gold Inc. Parties pleased to announce the Supreme Court of British Columbia has issued a final order approving the previously announced plan of arrangement (the “Arrangement”) under section 288 of the Business Corporations Act (British Columbia). Ankündigung • Nov 26
Pacton Gold Inc. announced that it expects to receive CAD 2.5 million in funding Pacton Gold Inc. announced a non-brokered private placement of 10 million common shares at a price of CAD 0.25 per share for total gross proceeds of CAD 2.5 million on November 25, 2022. Red Cloud Securities Inc. will be acting as a finder for the offering on behalf of the company. The company will pay finders' fees to Red Cloud and others pursuant to the policies of the TSX Venture Exchange. The closing of the offering will be subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the TSX Venture Exchange. All securities issued under the placement will be subject to regulatory hold periods expiring four months and one day from the date of issue. Board Change • Nov 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Director Peter Caldbick was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Oct 21
Pacton Gold Inc. (TSXV:PAC) agreed to acquire Adeline High-Grade Copper Project in Labrador, Canada from Chesterfield Resources plc (LSE:CHF) for approximately CAD 4 million. Pacton Gold Inc. (TSXV:PAC) agreed to acquire Adeline High-Grade Copper Project in Labrador, Canada from Chesterfield Resources plc (LSE:CHF) for approximately CAD 4 million on October 19, 2022. As consideration for the acquisition of the Adeline Project, the Company will under the terms of the purchase agreement pay a total of $1,250,000 in stages over a one year period ($50,000 paid to date) and issue approximately 12,700,000 common shares to the Vendor, such that the Vendor will hold approximately 19.99% of the total issued and outstanding shares of the Company on completion of the transaction. Chesterfield will have the right to nominate one board member to Pacton's Board of Directors provided it holds not less than 10% of Pacton's issued and outstanding shares. The Adeline Project is subject to an underlying 1.6% gross smelter returns royalty. Under the terms of the Transition Agreement, Pacton will pay an additional $300,000 in stages over a one year period in consideration of Chesterfield assisting with the orderly transition of the Adeline Project to Pacton. This will include assisting Pacton with preparation and filing of an independent NI 43-101 technical report on the Adeline Project, completing all mineral claims transfers, introducing Pacton to service providers and dealing with the royalty holders. The acquisition of the Adeline Property is subject to several conditions precedent, including the completion of an equity financing by Pacton to fund exploration and development of the Adeline Project, and approval to the acquisition by the TSXV. Ankündigung • Oct 08
Pacton Gold Inc., Annual General Meeting, Dec 06, 2022 Pacton Gold Inc., Annual General Meeting, Dec 06, 2022. Ankündigung • Sep 07
Pacton Gold Inc. Provides an Update on the Ongoing Exploration Program At Its Red Lake Gold Project in Ontario Pacton Gold Inc. provided an update on the ongoing exploration program at its Red Lake gold project in Ontario. The 2022 drill program has been completed and the surface exploration campaign is currently underway. Three holes in the Boyden target area intersected anomalous gold bringing the total number of mineralized drill holes at Red Lake to 18. These successful holes, together with the many anomalous gold samples from prior surface programs form multi-km projected trends and will assist with drill targeting during the next phase of drilling. The Swain property is located approximately 80 km east-northeast of Red Lake, Ontario. The property is underlain by the Swain Lake Deformation Zone in the Birch-Uchi Greenstone Belt and is adjacent to First Mining Gold's Springpole Gold Deposit, one of the largest undeveloped open pit mines in Canada. Pacton has recently completed a database compilation and reconciliation of all historic work on the Swain Project. This work has highlighted underexplored sections of the property. Additionally, the Company completed a high-resolution helicopter magnetic survey and a targeted prospecting campaign to explore multiple areas of interest at the property. Samples from this program are in the lab and will be reported as results are available. Drill results from the 2022 campaign confirm the presence of anomalous gold along a trend that strikes for greater than 2 km at the Boyden target area. These results have widened the prospective area for further exploration work at Boyden. Previous work at this target area has been focused on the Boyden outcrop, where Pacton grab sampling returned values of up to 126.5 g/t Au and channel samples of up to 101.3 g/t Au over 0.4 m in 2019. Gold mineralization at the Boyden outcrop occurs in an east-west pinch and swell quartz vein in mafic volcanic rocks. Previous drilling did not intersect the vein at depth, which is interpreted to be attributed to the presence of two intrusive units that are not favourable for hosting gold mineralization. The Company is currently undertaking additional mapping, prospecting, and outcrop stripping at Boyden. Pacton recommends additional drilling along this trend to test for high-grade gold mineralization, as present at the Boyden outcrop. The Red Lake Gold Project, located in Red Lake, Ontario, comprises 28,000 ha. The Project is adjacent and proximal to past, current, and near-term production mines and is also adjacent and on trend to Great Bear's Dixie discovery. Exploration to date includes successful first pass sampling, geophysical surveys, and drilling. High-grade surface samples include 126.5 g/t Au and 23.3 g/t Au. First pass reconnaissance drilling has hit 17.5 g/t Au over a 0.5 m interval. The Project also includes regional properties, such as Gullrock, Pakwash, Dixie, Golden Loon, and Swain. The project is in an area that has historical, and current use by Lac Seul, Wabauskang and Grassy Narrows First Nations. Drill core is logged and sampled at a secure core processing facility in Red Lake, Ontario. Core samples from the drill program are cut in half using a diamond cutting saw with half sent for assay at Activation Laboratories Ltd. in Thunder Bay, Ontario. The other half is secured and retained at a secure storage facility. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning greater than 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods. Certified reference materials, blanks and duplicates are routinely inserted into the sample stream as part of Pacton's quality control/quality assurance program. The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., Executive Chairman and a director, and Karly Oliver, P.Geo., Vice President, Exploration and a director of the Company, who are both Qualified Persons pursuant to National Instrument 43-101. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Director Peter Caldbick was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 13
Pacton Gold Inc. Provides Drilling and Sampling Update Pacton Gold Inc. provide an exploration update at its ongoing 10,000 m drill program and outline plans for the use of proceeds from recent, successful financing at the Red Lake Project, Ontario. Ahead of Schedule: The fully funded 10,000 m drill program is well underway and ahead of schedule with approximately 4,000 m drilled in 10 holes. First pass drilling is now complete at Boyden West, Carricona East and Boyden East. 14 Holes Remaining: The remaining 6,000 m of drilling will focus on the Claremont target area, where 14 holes are planned. The drill program is anticipated to be completed in early summer 2022. Over 2,800 Samples Submitted to Lab for Assays: All samples from the first 10 holes and the re-sampling campaign have been delivered to Activation Laboratories Ltd. in Thunderbay, Ontario. A total of 2,825 samples have been submitted to the lab. The Company anticipates a turnaround time of approximately two months for assay results. Results from the drill program will be reported as they come in. Proceeds from the recent financing will be used for continued target generation and prospect development at the project beyond the ongoing drill campaign. Pacton will focus this exploration work at the Red Lake project including under-explored regional properties such as Gullrock and Swain. The Company plans to conduct a significant surface exploration campaign during the summer of 2022 to evaluate targets for future drill campaigns. This campaign will include geophysics, prospecting and mapping, outcrop stripping and geochemical sampling. Additional details of this program will be announced as they are finalized. The Red Lake Gold Project, located in Red Lake, Ontario, comprises 28,000 ha. The Project is adjacent and proximal to past, current, and near-term production mines and is also adjacent and on trend to Great Bear's Dixie discovery. Exploration to date includes successful first pass sampling, geophysical surveys, and drilling. High-grade surface samples include 126.5 g/t Au and 23.3 g/t Au. First pass reconnaissance drilling has hit 17.5 g/t Au over a 0.5 m interval. The Project also includes regional properties, such as Gullrock, Pakwash, Dixie, Golden Loon, and Swain. Ankündigung • Feb 24
Pacton Gold Inc. Mobilizes Drill Rig to the Red Lake Gold Project Pacton Gold Inc. announced that drill equipment and crews have mobilized to the Red Lake Gold Project and have commenced drilling on the 10,000 m campaign.This campaign is the third drill program conducted by Pacton in Red Lake, ON and will focus on four keytarget areas not yet drill tested by the Company. Theexploration program also includes additional sampling of intervals from previous drilling at Pacton's goldbearing prospects to guide further follow-up drilling. Ankündigung • Feb 16
Pacton Gold Inc. to Commence 10,000 M Drill Program at Red Lake Gold Project, Ontario Pacton Gold Inc. announced details and targets for the upcoming 10,000 m drill program at its Red Lake Gold Project in Ontario. Drilling will focus on advanced targets in the Boyden West, Carricona, Claremont, and Keg target areas. The program is scheduled to begin late February and follows recently completed surface exploration. Drilling will consist of an anticipated 22 holes and will continue through to the end of summer 2022 using one diamond drill rig. Drill Target Areas: Boyden West (5 holes): Pacton has previously identified significant gold in soil and magnetic anomalies at Boyden West. The drilling will test the linear trend of the anomaly and follow up positive results from historic drilling and historic outcrop sampling of 3.1 g/t Au. This target area is 1 km west of the Boyden showing where Pacton grab samples returned values up to 126.5 g/t Au. Carricona (7 holes): Drilling at Carricona East will test a northeast trending soil and geophysical target, along with secondary associated structures. The drilling will target felsic and mafic volcanic rocks and interpreted D2 structures that are coincident with AI generated targets. D2 structures are controls for gold mineralization in the Red Lake region, including Evolution Mining's Red Lake Gold Mine. Claremont (5 holes): Drilling at Claremont will focus on intersecting the mineralized trend investigated by successful outcrop stripping and prospecting in 2021. Drilling will also investigate historic drilling which intersected 2.4 g/t Au over 1.6 m. Keg (5 holes): The Keg area hosts targets identified through a combination of historic samples, including 5.9 g/t Au over 0.3 m in drilling and 3.7 g/t Au in outcrop, along with gold in soil and magnetic anomalies discovered by Pacton. Additional sampling intervals have been identified at several of Pacton's prospects and will be completed in February, 2022. Sampling locations include Carricona, Boyden, and the Faulkenham Gold trend where drilling from the previous campaign discovered widespread, near surface mineralization over a 600 m strike length. Subsequent drilling at these locations will also be considered. The Pacton 2022 drill campaign is results driven and will be adapted using field observations and assay data. Additional targets from recent sampling and mapping campaigns have been prioritized for aggressive prospecting, outcrop stripping, and infill soil sampling during the 2022 spring/summer season. Ankündigung • Feb 04
Pacton Gold Inc. Announces Highlights New Gold Targets for Upcoming Drilling Pacton Gold Inc. reported assay results from soil sampling have returned strongly anomalous gold values in multiple areas of its Red Lake and Gullrock properties. Soil sampling throughout the summer of 2021 has added over 7200 assays to Pacton's database, forming a robust grid of geochemical data over the Red Lake and Gullrock properties. Multiple anomalous gold trends have been identified using data from soil and outcrop sampling. The results are being combined with prior drill sampling, mapping, and geophysics to further define and prioritize the target areas. Among the targets now identified for further investigation and drill testing are: Claremont, Carricona, Boyden West, and Keg. Target Areas to be Drill Tested in 2022 Keg: A highly anomalous area for both gold and pathfinder elements in the soil data. Located along the southeastern extension of the historic Red Lake mine trend, the Keg target also contains historic drilling up to 5.9 g/t Au and grab samples up to 3.7 g/t Au. Claremont: Elevated soil values in the Claremont area are coincident with geophysical targets and mapped geological structures. A prior stripping campaign was successful in uncovering mineralized veining and will be followed up with drill testing. Carricona: Gold in soil values in the Carricona East area form a northeast trending anomaly that overlaps with a geophysical target and a gold target identified from CARDs AI modelling. This anomaly is in the vicinity of 17.5 g/t Au over 0.5 m that was intersected by Pacton drilling in 2019. Boyden West: The gold in soil anomaly at Boyden West is associated with historic sampling of 3.1 g/t Au in outcrop and 0.64 g/t Au over 0.5 m in drilling. The target is on trend and 1 km west of the Boyden outcrop stripping where Pacton sampling returned grab samples up to 126.5 g/t Au in 2019. To date, Pacton has collected 8,871 soil samples at its Red Lake properties. Data from 98% of the 2021 survey has been received from the lab and analysis is ongoing. Ankündigung • Nov 27
Pacton Gold Inc. announced that it has received CAD 2.044999 million in funding Pacton Gold Inc. announced a private placement of 3,718,180 flow-through shares at a price of CAD 0.55 per share for gross proceeds of CAD 2,044,999 on November 25, 2021. All securities issued under the private placement will be subject to a statutory hold period expiring on March 26, 2022. Is New 90 Day High Low • Feb 18
New 90-day low: CA$0.69 The company is down 31% from its price of CA$1.00 on 19 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 3.0% over the same period. Ankündigung • Jan 20
Pacton Gold Inc. Announces Phase I Drill Results at the Sidace Project in Red Lake, Ontario Pacton Gold Inc. announced Phase I drill results at the Sidace project in Red Lake, Ontario. All nine holes intercepted gold mineralization and, of note, the Main Zone has been extended in all directions. The results comprise high-grade gold mineralization, including 9.0 g/t Au over 2.3 m and widespread gold mineralization, including 1.3 g/t over 75.2 m. Phase I defines high-grade and widespread gold mineralization. All nine holes intercepted gold mineralization. Continuity of mineralization. Results have confirmed the geological modelling developed by Pacton's technical team. Gold is hosted in smoky quartz veinlets within a major shear zone hosted in quartz-sericite schist. Mineralization includes arsenopyrite, realgar, pyrite and visible gold. Phase II drilling is underway. Phase I drilling is now complete, with results received from nine of ten holes. Phase II will target the extension of the Upper Duck Zone along strike and at depth. The program will include 11,500 m of drilling and is expected to be completed in Spring 2021. Pacton is partnered with Evolution Mining on the Sidace project and is the current operator. SDC-20-003 intersected 9.0 g/t Au over 2.3 m, extending the main zone by 200 m at depth. SDC-20-005 intersected widespread mineralization with 1.3 g/t Au over 75.2 m including 4.5 g/t Au over 5.2 m approximately 200 m below surface and 1.3 g/t Au over 30.9 m approximately 150 m below surface. SDC-20-009 intersected 1.5 g/t Au over 61.2 m including 4.7 g/t Au over 3.0 m and 10.0 g/t Au over 1.0 m. Is New 90 Day High Low • Jan 19
New 90-day low: CA$0.88 The company is down 31% from its price of CA$1.27 on 20 October 2020. The Canadian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 4.0% over the same period. Ankündigung • Jan 08
Pacton Gold Inc. Provides an Overview of Upcoming Exploration Activity At Its Red Lake and Sidace Gold Projects in the Red Lake Gold District in Ontario, Canada Pacton Gold Inc. provided an overview of upcoming exploration activity at its Red Lake and Sidace gold projects in the Red Lake gold district in Ontario, Canada. Drilling commenced at both projects in fourth quarter of 2020 with 10,000 m and 11,500 m programs respectively, and the Company is currently preparing for the following activity: 2021 Red Lake Project Exploration. Phase I Drilling: Completion of ongoing 10,000 m greenfield drill program. Assays from initial holes are pending. Phase II Target Development: Analyze 2020 geophysics and sampling data. Commence property-wide surface exploration program with particular focus on anomalies identified by surveys during 2020. Phase II Drilling: Undertake follow up drilling based on new target development and the results of Phase I drilling. 2021 Sidace Project (Red Lake) Exploration. Phase II Drilling: Commence drill testing of western extension of Upper Duck and Main Discovery zones. Phase III Drilling: Commence drill testing of northeast plunging mineralization at the Anderson zone. Analysis and Evaluate Follow up Drilling. Evaluate results of 2020/2021 drilling and develop next phase of exploration. Red Lake Project - Completion of 8,200 m 2019/2020 reconnaissance drill program; Intersection of Near Surface Gold Mineralization at Carricona and Madsen-Dixie Corridor targets including 17.2 g/t Au over 0.5 m. Initiation of 10,000 m greenfield exploration drill program to follow up on encouraging results from 2019/2020 reconnaissance drilling and new targets identified from geophysics, artificial intelligence and 2020 surface sampling data. Completion of four distinct geophysics surveys (including magnetics, induced polarization, seismic and VLF-EM) and a property-wide surface exploration campaign. Sidace Project (Red Lake) - Acquisition of joint venture interest in the advanced Sidace gold project in Red Lake. Pacton entered into a joint venture with Evolution Mining, the senior producer in the district. Approval and initiation of 11,500 m expansion drill program. Pacton is the current operator at the Sidace project. Completion of Phase I drilling: The initial holes at Sidace targeted the extension of mineralization at the Main Discovery zone and were completed in December 2020. Results from Phase I drilling will be reported as they are received from the lab. Further Details on 2020 Exploration Activity and Results Pacton completed a property-wide surface exploration program from Spring through Fall 2020. The campaign included geological mapping, sampling, prospecting and soil geochemistry. More than 1,400 soil samples were collected at select target grids on the property and surface exploration teams were deployed to all of Pacton's Red Lake property blocks. These campaigns were conducted by Pacton geologists in combination with APEX Geoscience Ltd. and GoldSpot Discoveries. The surface teams completed the program at the end of October 2020 and final results are expected from the lab by the end of this month. The Company completed multiple geophysical surveys at the Red Lake project in 2020. A high-resolution helicopter magnetics survey was conducted at Gullrock, Pakwash, Dixie and Golden Loon properties. Results from the magnetics survey highlight new areas of interest and enhanced the definition of existing targets. An IP survey totalling 52 line km was completed by the Company on the property in the Madsen-Dixie Corridor. The IP survey identified multiple chargeability and resistivity anomalies in the vicinity of structures associated with the LP Extension, a regional-scale structure with more than 6 km of strike length underlaying Pacton's Red Lake property. Further exploration work is warranted along the LP Extension and associated structures to prioritize target areas for drilling. The Company initiated an airborne horizontal magnetic gradient and matrix VLF-EM resistivity survey throughout the 28,000 ha Red Lake property. Results from the survey will aid in target definition and exploration through the identification of faults, shear zones, folding and alteration zones. Final results from the recent survey are anticipated in First Quarter 2021. A 2D seismic survey was designed and conducted by Pure Gold Mining Inc. on Pacton's property in the vicinity of the Madsen Mine. The survey included 13 km of seismic data over Pacton's claims and increased access to several target areas throughout the central property. Pacton received preliminary data from the seismic survey in late December 2020. Final data is anticipated in early 2021 and is expected to provide enhanced definition of structural controls for drill targeting at Pacton's Red Lake property. Ankündigung • Dec 19
Pacton Gold Inc. announced that it has received CAD 3.637 million in funding from Sprott Asset Management, LP On December 17, 2020, Pacton Gold Inc. (TSXV:PAC) closed the transaction. The company has issued 2,010,000 flow-through shares for gross proceeds of CAD 2,010,000 and 1,807,778 units for gross proceeds of CAD 1,627,000 for aggregate gross proceeds of CAD 3,637,000 in the transaction. The company has paid CAD 16,220 in cash and issued 18,000 share purchase warrants to Haywood Securities Inc and CAD 21,600 in cash and 24,000 warrants to PI Financial Corp. The transaction was over-subscribed. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction includes participation from Sprott Asset Management, LP for 1,000,000 shares and Richard Boulay, Director for 10,000. Ankündigung • Dec 18
Pacton Gold Inc. Appoints Karly Oliver Expert Geologist to the Board Pacton Gold Inc. announced that Karly Oliver has been elected to the Board of Directors. Karly Oliver is a professional geologist with more than a decade of experience in the exploration and mining industry. She has previously worked with New Gold Inc.'s corporate exploration group where she coordinated exploration programs and mineral resource delineation projects across North America. Ms. Oliver acts as a technical consultant for several publicly listed exploration companies exploring for and advancing gold projects in Canada and internationally. She a Professional Geoscientist in British Columbia and holds a Bachelor of Science in earth and ocean sciences from the University of British Columbia and a Geographic Information Systems Applications Specialist Graduate Certificate from Sir Sandford Fleming College. Ankündigung • Dec 04
Pacton Gold Inc. Accelerates Red Lake Drilling with Second Rig Pacton Gold Inc. announced that a second drill rig has begun drilling at Pacton's Red Lake gold projects in Ontario, Canada, where the Company is carrying out two, concurrent drill programs. The first drill rig is conducting an 11,500 m program at the advanced Sidace gold project in Red Lake, and the Company is currently awaiting assay results for phase I. The second rig has commenced a 10,000 m drill program at Pacton's greenfield exploration project in Red Lake, following up encouraging results from the 2019/20 reconnaissance drill program. Is New 90 Day High Low • Nov 24
New 90-day low: CA$0.97 The company is down 16% from its price of CA$1.16 on 25 August 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 9.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: CA$1.12 The company is down 7.0% from its price of CA$1.20 on 30 July 2020. The Canadian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Metals and Mining industry, which is down 10.0% over the same period. Ankündigung • Sep 24
Pacton Gold Inc. Commences Drilling At the Sidace Project, Located in Red Lake, Ontario Pacton Gold Inc. announced that drilling has commenced at the Sidace project, located in Red Lake, Ontario. Phase I of the 11,500 meter drill program will continue through the winter and complete in the spring of 2021. Drilling will test extensions of the Main Discovery, Upper Duck and Anderson zones (Figures 1 and 2), with initial focus on the Main Discovery Zone. Sidace is an advanced gold project with three distinct zones of mineralization and more than 80,000 meters of historic drilling. Pacton is partnered with Evolution Mining on the Sidace project and is the current operator. Phase I Drilling: The initial phase of drilling will be focused on the Main Discovery Zone, which has a tested strike length of 300 meters and depth of 400 meters. Drilling will target extension of the modelled mineralization along strike and at depth. Phase II Drilling: Phase II of drilling will focus on lateral western extension of the Upper Duck Zone (UDZ) and the MDZ. Mineralization in the UDZ is associated with silicified iron formation. Phase III Drilling: The final stage of drilling will target a northeast plunging mineralized trend at the Anderson Zone, which is characterized by mineralization in skarn and sheared ultramafics. It will also target mineralization to the east of the MDZ. Ankündigung • Sep 18
Pacton Gold Inc. Receives Permit and Prepares for 11,500 M Drill Program At Sidace Project in Red Lake, Ontario Pacton Gold Inc. announced it has received its exploration permit for the 11,500 meter drill program at the Sidace project, located in Red Lake, Ontario. Pacton is the operator of the joint venture project and is preparing crews and equipment to mobilize to the project in the coming weeks. The drill program will focus on expansion drilling at all three mineralized zones at the Sidace project, including the Main Discovery, Upper Duck and Anderson zones. Ankündigung • Sep 17
Pacton Gold Inc. Announces the Completion of High-Resolution Airborne Magnetic Surveys at the Gullrock, Pakwash, Dixie, and Golden Loon Properties Part of Pacton's Large Red Lake Exploration Project, in Red Lake, Ontario Pacton Gold Inc. announced the completion of high-resolution airborne magnetic surveys at the Gullrock, Pakwash, Dixie, and Golden Loon properties part of Pacton's large Red Lake exploration project, in Red Lake, Ontario. Initial survey results have defined multiple prospective areas of folding and faulting, most notably at Pacton's Gullrock property. The Company is currently in the final stages of targeting, prior to commencing drilling in Fall, 2020. The Gullrock property is located along the structural trend hosting Evolution Mining's Red Lake Gold Mine. The new data better defines the location of the mine trend structure on the Gullrock property. The property is also along trend and contiguous to Great Bear Resources Sobel property, where recent geochemical work identified two large Spaciotemporal Geochemical Hydrocarbon targets. These targets are associated with structures which appear similar to those identified in Pacton's magnetic data. Mapping and prospecting at the Gullrock property is ongoing, and the new priority areas of interest will be evaluated for targeting in the upcoming drilling campaign.