Pacton Enters Into Strategic Processing Alliance With Artemis
(firmenpresse) - Pacton Enters Into Strategic Processing Alliance With Artemis
Vancouver, British Columbia, October 17, 2018 - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the Company or Pacton) is pleased to announce it has signed a Memorandum of Understanding (MOU) with Artemis Resources Limited (ASX: ARV, FSE: ATY, USOTC: ARTTF) (Artemis), an Australian Securities Exchange listed exploration company, to enter into a strategic processing alliance (Alliance).
Highlights of the Transaction:
- Permitted processing facility provides potential of rapid advancement of Pactons projects through substantial bulk sampling and production scale testing of gold mineralization.
- Pactons multiple mining leases held across a number of projects provides a rapid pathway for trial mining to be undertaken.
- Project scale review underway across entire portfolio to identify opportunities for near term production from both conglomerate and shear hosted mineralization styles.
Figure 1: Bulk sampling previously conducted on Friendly Creek Mining Lease
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The MOU contemplates collaboration between the two companies, whereby Pacton can utilize Artemis 100% owned Radio Hill processing plant, located 30 kilometres from the city of Karratha, on a non-exclusive basis. The Alliance provides Pacton with the potential to bulk process conglomerate and shear hosted mineralization from Pactons multiple mining leases and therefore opens a rapid pathway to production.
Under the terms of the MOU, Artemis and Pacton will seek to work collaboratively to determine how they can together advance, or leverage off, Artemis Radio Hill operations and processing infrastructure. Commercial terms for any processing arrangement remain subject to negotiation in a formal agreement.
The strategic processing alliance with Artemis provides a far reduced upfront capital cost of evaluating near term development opportunities within the Pilbara. Pactons extensive land holding in the Pilbara contains a multitude of prospects requiring evaluation. Through Pactons granted mining leases in conjunction with the processing solution provided by Artemis, the alliance partners are well positioned to expedite development opportunities, commented Alec Pismiris, Interim President and CEO of Pacton Gold. We look forward to working closely with Artemis, an established long term operator in the Pilbara region and strive to capitalize on the operating synergies between both parties.
Figure 2: Pacton Regional Project Location Plan & Artemis Radio Hill Processing Facility
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About Pacton Gold
Pacton Gold (PAC: TSXV; PACXF: US, FSE: 2NKN) is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President & CEO
Pacton Gold
200 Burrard Street, Suite 1680
Vancouver, British Columbia, V6C 3L6
Tel: (604) 678-5308
www.pactongold.com
This news release contains or refers to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its projects and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Datum: 17.10.2018 - 11:34 Uhr
Sprache: Deutsch
News-ID 582662
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