Pilbara Conglomerate Gold, page-465

Canadians want more of our Pilbara gold and ASX juniors are winning
Canada’s Pacton Gold has been doing deals with ASX-listed companies to build its portfolio of conglomerate gold projects.
Minnow Clancy Exploration (ASX:CLY), which has a market cap of $6.7 million, is the latest Australian junior to shake hands with Pacton over its Hong Kong project, locking in a deal worth $C1.7 million ($1.8 million).
Conglomerate gold refers to nuggets hosted in rock containing rounded grey quartz pebbles and other minerals.
The Pilbara has become a hot spot for this style of gold, ever since Artemis Resources (ASX:ARV) and its Canadian partner Novo Resources uncovered what they called “watermelon seed nuggets” on their project south of Karratha last year.
The $C33.7 million Pacton has agreed to stump up $C200,000 in cash and issue $C1.5 million worth of shares to Clancy to earn a 70 per cent stake in the Hong Kong project.
Upon completion of the acquisition, Pacton and Clancy will enter into a joint venture, with Pacton acting as operator of the Hong Kong project.
Pacton has agreed to spend at least $C500,000 on the project within two years.