The Boyden and Carricona areas are within the Madsen-Dixie fault corridor where recent surface sample results returned values up to 126.5 grams per tonne gold from selective grabs. Pacton said numerous historical trenches in both areas showed positive geological characteristics "such as sheared felsic/mafic contacts and mineralized quartz veining with pyrite, galena and occasional visible gold".
The junior, also targeting gold in Western Australia, said it immediately start a "comprehensive outcrop cleaning and mapping program followed by a minimum 10,000m drilling program to begin in fall 2019".
"Receipt of our first drill permit ahead of schedule is a positive step and we look forward to operating the first comprehensive drill program in many years over the Boyden and Carricona prospects," said Pacton chairman Dale Ginn.
The company's share price (TSXV: PAC/OTC: PACXF) has nearly doubled since the end of May to 22c but is down about 35% year-to-date, giving it a market value of C$40 million.
The company recently raised C$5.6 million through equity issues, including a $2 million flow-through issue for work in Canada, at 10-12c.
