Canadian junior Pacton Gold hunting conglomerate-style gold in Australia’s Pilbara has received approval from the TSX Venture Exchange to buy the remaining 49% interest in Arrow Minerals.
The transaction, announced last month, gives the company full ownership of a strategic landholding of 609 km2 in the Pilbara.
Pacton will buy the rest of Arrow for $1-million in cash and two-million common shares.
The company has identified seven conglomerate gold targets for further exploration and has recently discovered gold nuggets on the property.
The property is directly adjacent and proximal to key exploration properties controlled by Novo Resources, De Grey Mining and Kairos Minerals.