over the past couple of years, explorers haven’t been looking for the steelmaking ingredient found within the red soil of the Pilbara, but rather are on the hunt for gold nuggets.
Pacton Gold (TSXV-PAC; US: PACXF)) is in the thick of the race to acquire prospective ground in this thinly populated, dry, dusty region of Western Australia. Vancouver-based Pacton recently became the third largest landowner in the Pilbara, behind Novo Resources and Artemis Resources. Pacton now controls about 2,227 km2 of terrain, having added 1,126 km2 through the acquisition of a subsidiary of Impact Minerals Limited (ASX:IPT), Drummond East Pty Ltd., announced on May 22, 2018. The company followed that up six days later with another acquisition, the Friendly Creek exploration license and mining leases from Gardner Mining. According to Pacton, Friendly Creek is “historically one of the richest known areas for alluvial nuggets within the Pilbara region,” where fine-grained to nugget-sized gold was found in the 1880s and 1890s.
Why the current gold rush? All of which begs the question, what has caused the current gold rush in the Pilbara, given that the area is virtually synonymous with iron ore?
While gold itself does not need any marketing, gold miners surely do and the Canadian listed company Novo Resources (TSXV: NVO) and partner Artemis Resources, particularly the marketing buzz generated by Novo’s managing director, Quinton Hennigh, has really alerted the world to what is happening in the Pilbara.
During the highly influential recent Denver Gold Forum in Colorado, Mr Hennigh successfully live streamed gold nugget discoveries at its Purdy’s Reward project, about 45km south of Karratha.
Novo’s theory – and it remains just that before more exploration can be undertaken – is that the watermelon pip shaped nuggets are part of a much larger conglomerate-hosted gold mineralisation that extends much further.
The Pilbara Region has recently become subject to significant investor interest due to the discovery of these ‘watermelon seed’ gold nuggets in Fortescue Basin sediments.
Several companies, in addition to Novo Resources and Haoma Mining, such as Artemis Resources Ltd, De Grey Mining Ltd, Venturex Resources Ltd, and now Kalamazoo Resources, have discovered gold nuggets in a conglomerate unit at the base of the Mount Roe Basalt in both the east and west Pilbara Craton. Novo and Artemis claim the deposits are analogous to the Witswatersrand (Wits) gold deposits of South Africa, which represents the richest gold province in the world.
ONE NEEDS TO understand that if HAVIERON produces good drill results. 1. How rich we will all be if we hold for gold. 2. All the operators in the region are SERIAL LAND GRABBERS. 3. GGP will be listing on the ASX 4. GGP is a serial SERIAL LICENCE GRABBER and will be looking to sell or JV with ANYONE !
diryan..............Could be blasting north of 5-6P very soon, hold on to your hats !! --------------------------------------------------- SO, I'm not alone? I wondered when someone would get sensible?
Very positive interview. Havieron and Firetowerv getting good resultsv and Black Hills excellent. I reckon they are still finding surface nuggets and cashing in the loose gold to keep cash burn low. that's only my opinion?
Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased with the encouraging data collected from this detailed, high-resolution survey, which clearly defines numerous high-priority targets at Paterson Range East with a similar discrete magnetic signature to Havieron. We plan to quickly follow up these results with the launch of comprehensive ground gravity and surface geochemical surveys next month.
"The combination of a focused suite of geophysical and geochemical tools provides us with a fast, effective and relatively low-cost method to screen for high-priority targets over a large area. We look forward to providing more detail on our exploration activities at Paterson Range East as the programme progresses."
An image of the detailed aeromagnetic data collected across the Paterson Range East licence can be found on the Paterson project page of Greatland's website at: www.greatlandgold.com/paterson/