Toronto, Ontario--(Newsfile Corp. - September 11, 2019) - Pancontinental Resources Corporation (TSXV: PUC) ("Pancon" or the "Company") announced today that an initial diamond drilling and downhole geophysics program has begun at the Company's St. Laurent Nickel-Copper-Cobalt Project. Located in St. Laurent Township in northern Ontario, the Project is 160 kilometres northeast of Timmins, 50 kilometres south of Detour Lake Mine and 20 kilometres southwest of the Casa Berardi Mine.
Pancon President and CEO Layton Croft stated: "With the price of nickel up 71% year-to-date, we are especially excited to drill at St. Laurent, with the objective of testing and explaining a very well defined and unexplained airborne electromagnetic (EM) conductor. Our compilation of exploration work from previous operators suggests a strong data-supported nickel-sulphide target signature, featuring six metals (Ni-Cu-Co-Au-Pt-Pd). The 600 metre-long airborne EM anomaly is coincident with a sizeable Ni-Cu mineralized gabbro body, which has only been drill tested down to 175 vertical metres. The Ni-Cu mineralized body, in conjunction with the unexplained EM anomaly, represents an intriguing exploration target."
The initial program will include up to 2,000 metres of diamond drilling in 4 to 5 holes over four weeks, as well as downhole EM geophysical surveys in the new holes and existing holes from previous operators.
Figure 1: St. Laurent Property General Geology with past drilling and defined EM anomalies.
To view an enhanced version of this graphic, please visit:
More maps and graphs on the St. Laurent Project can be viewed here: http://www.panconresources.com/projects/St-Laurent/default.aspx.
About the St. Laurent Project:
Pancon acquired the St. Laurent Project earlier this year (see News Release dated March 25, 2019) which covers 4,170 hectares and is located in St. Laurent Township, Northern Ontario, 160 kilometres northeast of Timmins, 50 kilometres south of Detour Lake Mine and 20 kilometres southwest of the Casa Berardi Mine.
Past shallow drilling at the St. Laurent Project (see News Release dated July 2, 2019) identified disseminated multi-element sulphide mineralization across notable widths trending towards a large gabbro-hosted magnetic feature.
The Ni-Cu-Co-Au-Pt-Pd zone is open along strike and at depth. This mineralized zone is coincident with a strong 600-metre long EM anomaly.
Drilling to date has not yet intersected massive sulphides, and the EM anomaly has not yet been explained. The disseminated sulphide halo provides an important vector to guide our upcoming exploration work.
Maps and more information on the St. Laurent Key Exploration Features can be viewed here: http://www.panconresources.com/projects/St-Laurent/default.aspx.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Todd Keast, P.Geo., a Qualified Person as defined by NI 43-101. Mr. Keast is a member of Pancon's Technical Advisory Committee and Pancon's Projects Manager. Certain technical information within this news release is historical in nature and pre-dates NI 43-101 standards; this information is believed to be reliable however the Company has not verified this material.
About Pancon Resources:
Pancontinental Resources Corporation (TSXV: PUC), or Pancon, is a Canadian junior mining company focused on North American gold and battery metals projects in proven mining districts and near or surrounding producing or former mines. Pancon's 100%-owned Jefferson Gold Project is 15 km along trend from the Haile Gold Mine and surrounding the former Brewer Gold Mine, on the Carolina Gold Belt in South Carolina, USA. Pancon has 5 nickel-copper-cobalt projects in Northern Ontario. The Montcalm Project, Gambler Project, Nova Project and Strachan Project are near and surrounding the former Montcalm Ni-Cu-Co Mine, located 65 km northwest of Timmins. The St. Laurent Project has an advanced Ni-Cu-Co-Au-Pt-Pd target and is located 50 km south of Detour Lake Mine and 20 km southwest of Casa Berardi Mine.
For further information, please contact:
Layton Croft, President & CEO or Jeanny So, Manager, External Relations
E: [email protected]
For additional information please visit our new website at www.panconresources.com and our Twitter feed: @PanconResources.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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