Canadians want more of our Pilbara gold and ASX juniors are...

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.