Canadian-listed Pacton Gold (TSX-V:PAC) has discovered gold nuggets from initial prospecting at the Egina area of its Friendly Creek tenements, located south of Port Hedland and abutting fellow gold explorer Novo Resources’ (TSX-V:NVO) tenements.
An advanced team of reconnaissance prospectors collected gold nuggets from six locations on Pacton’s Friendly Creek tenements.
The gold nuggets were in weathered material overlying a package of unclassified Mesoarchean ultramafic rocks and komatiitic basalt that extends along the Friendly Creek tenements for approximately 10km.
Pacton said the origin of the gold nuggets, which show various morphological shapes, has not yet been determined.
Pacton recently expanded its prospective exploration area in and around the Friendly Creek project with the planned acquisition of the Golden Palms tenement (E 47/3810) and the Hong Kong tenement (E 47/3556).
The company acquired Friendly Creek in May this year. The project covers 31.36km2 in tenements, composed of five granted mining leases and one granted exploration license.
Historical explorers at Friendly Creek mined mostly alluvial fine gold, recovering 127oz and 165oz gold nuggets.
The Company recently raised approximately $5.5 million, currently controls the third largest conglomerate-hosted gold property portfolio totaling in excess of 2,500 km2, and continues to aggressively review additional accretive acquisitions.