Impact: Mildly Positive

Pacton has announced its entry in to a binding letter of intent (LOI) to acquire the Tardarinna Gold Project in the Pilbara Region of Western Australia. This news is accretive to the company’s acquisition strategy as it now holds projects in the Pilbara and Canada’s Red Lake Gold district in Ontario. With work underway at two different exploration targets, both in highly favourable mining jurisdictions, Pacton is gaining ground and nearing a discovery.

Impact: Mildly Positive

Pacton has announced the beginning of a magnetic surveying program over its property in Red Lake Ontario with the aim of identifying potential drill targets on a property that is between two of the better projects in the camp. This news is interesting as the company is now advancing exploration targets on two different continents that suggests to us that with some success in Red Lake a spin-out is likely, which we expect to be value creating for shareholders.

Impact: Mildly Positive

Pacton Gold continues to discover gold nuggets on its properties in the Egina region; specifically at the Golden Palms property (Figures 1 & 2). The news is another step in the right direction for the company as it ramps up its exploration efforts in Western Australia and transitions from land-acquirer to explorer. In our view, Pacton has multiple projects that could yield a significant conglomerate gold discovery, as demonstrated by its early stage success.

Impact: Mildly Positive

Access to processing facility accelerates Pacton’s evolution. Pacton announced a Memorandum of Understanding (MOU) with Artemis Resources (ASX:ARV) for a strategic processing alliance that should allow Pacton to process future bulk samples through Artemis’ Radio Hill plant. While Pacton is at an early stage of exploration, this MOU provides a clear path to the bulk sampling stage. This deal confirms our thesis that the company has continued to transition from land-acquirer to explorer.

Impact: Mildly Positive

Pacton Gold announced the discovery of gold nuggets within favourable stratigraphy. This news is the beginning of an important step for Pacton as it moves from land-acquirer to explorer. Pacton’s gold nugget discovery at Friendly Creek bodes well for future exploration along the 10km of favourable conglomerate. The Pacton tenements are in the Egina region of the Pilbara that has been identified as prospective for conglomerate gold by Novo Resources (TSXV:NVO).