Displaying its keen interest in Western Australia’s Pilbara, Canadian prospector Pacton Gold has entered into a deal to add the highly prospective, Pilbara-based Tardarinna gold project to its books.
The binding letter of intent will see Pacton continue its emergence as one of the region’s most hungry prospectors, with an active and growing regional tenement holding.
The Tardarinna gold project has previously returned up to 328 g/t gold from historical surface samples and Pacton will look to run the ruler over its geology in search of shear-hosted gold.
The company has said exploration targeting is underway and will be followed by field-based exploration across the property.
Pacton reports that the Tardarinna gold project has never been drill tested.
Acquiring the Tardarinna gold project will greatly enhance our exposure to high-grade, shear-hosted gold mineralisation,” Alec Pismiris, interim president and CEO, of Pacton Gold said.
“This is a property with considerable advantages: it has historical samples of impressively high-grade gold, it is underexplored and has never been drill-tested and it is located in a stable jurisdiction with superb access to infrastructure.
“We look forward to defining the potential scale of Tardarinna,” he said.
While the terms of the letter of intent are yet to be formalised, it is understood that Pacton will look to acquire 100% ownership of the Tardarinna gold project through issuing approximately 1,250,000 shares.