A British Columbia court gave final approval earlier this month on a Red Lake gold acquisition deal that sees Trillium Gold Mines acquire Pacton Gold.
Vancouver-based Trillium announced the completion on June 19 of the previously announced plan of arrangement from March that results in Pacton becoming a subsidiary of Trillium.
The acquisition was sealed by the B.C. Supreme Court on June 6. Pacton shareholders had given their thumbs up at a special meeting on June 2.
The combination of boosts Trillium’s land holdings in the Red Lake mining district by 40 per cent, about 36,000 hectares, to now cover more than 1,260 square kilometres and 15 exploration projects.
The Pacton exploration properties are in middle of the northwestern Ontario gold mining camp between Kinross’ Great Bear project and Evolution Mining’s Red Lake operations.
Trillium’s leading project is Newman Todd, a property that comes with a historic gold resource estimate, and about 20 high-grade zones. The property is 25 kilometres west of Evolution’s Red Lake operations.
Nav Dhaliwal, Pacton’s former CEO, and is former executive chairman Dale Ginn, have joined the Trillium board.
