The Pancon battery metals mantra: location, location, location.
When it comes to battery metals and their supply we are just at the beginning of the story. By 2020 Bloomberg forecasts that there will be over 289 different models of electric cars creating a massive demand for battery metals. From 2022 an electric car should be the same cost as a conventional car, and up to 5-10 times cheaper to fuel and maintain. Even Volkswagen now sees EVs going mainstream by 2022. The industry is already gearing up with 76 lithium-ion megafactories either existing or in the planning phase. This is expected to lead to a tsunami of demand for the battery metals such as lithium, cobalt, graphite, nickel, and copper.
Pancontinental Resources Corp. (TSXV: PUC) aims to be a leading battery metals explorer and developer, focusing on commodity, geology, location, timing and people. The Company is focused on the exploration and development of their nickel-cobalt-copper projects in Ontario, Canada; and their 100%-owned Jefferson Gold Project in South Carolina, USA.
Northern Ontario Projects
The chart below shows Pancontinental’s 5 Northern Ontario projects – Montcalm, St Laurent, Gambler, Nova, and Strachan. The first 4 are optioned to own 100%, and Strachan is optioned to own 75%. All are early stage and prospective for various battery metals such as copper, nickel, and cobalt. There is also potential for gold, palladium, and platinum.
100% option to acquire the St. Laurent Project
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The acquisition of the St. Laurent Project announced on March 25th by Pancon, sees them entering into an option agreement to earn a 100% interest in the St. Laurent Project. The Project covers 4,170 hectares and is located in St. Laurent Township, Northern Ontario, 160 km northeast of Timmins. The project has an advanced exploration target hosting a prominent 600 meter long electromagnetic anomaly associated Ni-Cu-Co-Au-Pt-Pd mineralization. With this acquisition, the Company has made the decision to terminate its Option Agreement on the McBride Project in south-eastern Ontario.
Pancon President and CEO Layton Croft stated: “The St. Laurent Project strengthens Pancon’s strategy of exploring for essential battery and energy metals in low-risk jurisdictions near operating and former mines. It also brings a 5th project to Pancon’s exploration portfolio in Northern Ontario, where we value our positive social license to operate.”
First drill program completed at Montcalm
Nearby at Pancon’s Montcalm Ni-Cu-Co Project, 65 km northwest of Timmins, the first exploratory drill program has completed (March 27). The purpose of the maiden drill program was to test airborne virtual time-domain electromagnetic (VTEM) geophysical anomalies that had been identified in 2018. Results have been received from all 10 diamond drill holes having produced approximately 4,300 meters of drill core.
CEO Layton Croft stated: “The mineralized intervals did not return anomalous Ni-Cu-Co assay results. Further evaluation of the data identified a complex magnetic feature, hosting a cluster of electromagnetic anomalies we are calling the Hook zone. We are now conducting induced polarization (IP) and geophysical reinterpretation on the Hook zone in anticipation of follow up drilling.”
The Hook Zone (outlined by a dotted red line)
History of the Montcalm project
The Montcalm Project covering 3,780 hectares is located within the prospective Montcalm Gabbro Complex. The Project is contiguous to and surrounds the former Montcalm Mine, which was discovered and developed based on a single airborne electromagnetic anomaly and has previously mined 3,931,610 tonnes of ore grading 1.25% nickel (Ni), 0.67% copper (Cu), and 0.051% cobalt (Co), producing in excess of 4 million pounds of cobalt. In January 2018, Pancon acquired an option to earn a 100% interest in the Montcalm Project.
The demand tsunami for electric vehicle batteries is nearly upon us. It’s not a fad, it’s not a trend, it’s going to be essential for the health and well-being of the globe and all its inhabitants as we rid ourselves of harmful pollution. Green energy is on our doorstep and companies like Pancontinental Resources who are investing to find the very valuable battery metals can help make the air breathable again, saving us and the planet. Of course if Pancontinental has drilling success and can prove up an economic resource, then the Company can also provide a great investment for shareholders along the way.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in ... <Read more about Matthew Bohlsen>