Pacton Gold


Exploring the Highly Prospective Pilbara Gold Region in Australia

Press Releases


Pacton Gold (TSXV:PAC; US:PACXF) is a gold exploration company based out of Vancouver, Canada, which controls the third largest land holdings in the Pilbara Gold Region, known most recently as the biggest property staking rush in the last few years. The company is currently focused on developing its strategic land position in Western Australia, where it has made acquisitions for the Arrow, Impact Minerals, Friendly Creek and CTTR properties. These properties are strategically placed and are within close proximity to the Novo Resource Corp (TSXV:NVO) and DeGrey Mining Ltd. (ASX:DEG) properties, which have been displaying positive exploration results, yielding the target – gold nuggets.

The Pilbara region is historically known to possess “conglomerate gold”. First identified by Artemis Resources (ASX:ARV), conglomerate gold presents itself as nuggets in the shape and size of watermelon seeds and exists within a sedimentary formation akin to the Witwatersrand Basin in South Africa.

Pacton Gold is focused on expanding its holdings and becoming one of the top exploration companies in the Pilbara region. To this effect, the company has signed a binding letter of intent (LOI) to acquire 100 percent of Drummond East Pty, which holds seven granted tenement licenses across 1,126 square kilometers. The company also signed an LOI to acquire 100 percent of Gardner Mining Pty Ltd.’s Friendly Creek exploration licences and mining leases totaling 31.36 square kilometers. Historically, Friendly Creek is one of the richest areas for alluvial nuggets in the Pilbara region. Additionally, the company has signed a binding LOI to acquire 100 percent Marindi Metals Inc.’s (ASX:MZN) Bellary Dome exploration licenses. These acquisitions will increase Pacton’s land holding in Australia to approximately 2,258 sq kms, making it the third largest landowner in the region.

Pacton’s management team is comprised of members with experience working for both the Australian and North American markets and mining industries. This includes Alec Pismiris, who brings over 30 years of experience in securities, finance and the mining community and he has been associated with multiple successful projects. The company has also recently welcomed Eric Sprott as a significant, strategic shareholder. Sprott has purchased approximately 10.1 percent of the outstanding common shares as part of a recent strategic financing initiative, which would give him 18.4 percent of company holdings, assuming an exercise of warrants. Sprott is also a backer in Novo Resources, which is the initial player in the Pilbara region.

Company Highlights

  • Third largest landholder in Australia’s Pilbara region.
  • Actively working towards acquiring and consolidating properties, with five completed acquisitions.
  • Pilbara region host to high-purity (96 percent) gold nuggets.
  • Arrow Project hosts gold nuggets approximately five to 10 millimeters in size.
  • Management team with Canadian and Australian insight and access to both markets.
  • Exploration underway on Arrow and Friendly Creek properties
  • Recent acquisitions of Golden Palms and Hong Kong properties in the Egina area of the Plbara
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