Recently crowned the third largest tenement holder in Western Australia’s Pilbara Region, Canadian listed conglomerate gold player Pacton Gold has announced it is commencing exploration at its Friendly Creek and Arrow tenements just days after acquiring the Arrow landholdings.
Both the Friendly Creek and Arrow tenements occupy prime locations within the Pilbara, adjacent to Novo Resources’ sizable Egina block and Kairos’ recently discovered Croydon conglomerate gold play.
A bonanza of nuggets was recently uncovered at Croyden, with Kairos reporting this month a hefty payload of 256 gold nuggets weighing a combined 254 grams.
The major discovery is sure to add a healthy dose of adrenaline for Pacton’s exploration team, which also operates across five other projects in this part of the Pilbara craton.
Pacton announced it had acquired the Arrow tenements from its Australian JV partner Arrow Resources on September 19, highlighting the Canadian’s eagerness to get underway at its prime new ground.
The Company reports it anticipates its initial exploration activity at Arrow to last until December this year.
Initial exploration at Friendly Creek is expected to consist of a re-examination of historic occurrences, prospecting, mapping of the gold bearing stratigraphy, and methodical sampling over prospective gold targets.
The Friendly Creek project is a well defined 11 km by 4 km target area encompassing historic Pilbara Well alluvial and elluvial gold discoveries.
Pacton has identified stratigraphic units within the Arrow project that are continuous, along strike, into two of Novo’s Egina gold hotspots. These will be investigated as soon as full access approvals are received.
Geological work conducted by Novo Resources suggests that the adjacent Egina project may not only host gold-bearing conglomerates, but also the potential for significant surface gold deposits.