Pancontinental positions for rising demands for commodities from a clean energy revolution
Canada is primed and ready for the growing demand of commodities required for the clean energy revolution. Canada is a key energy metals location with copper, lithium, cobalt, graphite, nickel, and rare earth elements. These commodities are crucial in the production of solar panels, high energy density lithium-ion batteries, and electric motors. The Canadian minerals sector directly and indirectly contributed $97 billion or 5% to the nation’s total nominal GDP in 2017, and accounted for 634,000 jobs throughout the country in 2017.
Pancontinental Resources Corporation (TSXV: PUC) (“Pancon”) is a Canadian based mining company focused on strategic battery metals projects, with a particular focus on prospective nickel-cobalt-copper properties in proven mining districts with excellent infrastructure. Pancon is advancing 4 prospective Ni-Co-Cu projects in Ontario.
Pancontinental Resources flagship projects in Canada
The Montcalm, Nova, and Gambler nickel-cobalt-copper projects
The camp land size and position cover 13,480 ha in the Porcupine Mining Division in Ontario and is adjacent to Glencore’s former Montcalm Mine located within the prospective Montcalm Gabbro Complex, 65 kilometres northwest of Timmins, Ontario. The Montcalm Mine has previously mined 3,931,610 tonnes of ore grading 1.25% nickel, 0.67% copper, and 0.051% cobalt, producing in excess of 4 million pounds of cobalt.
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By the end of 2018, Pancon expects to have a strategic drilling plan for the most prospective targets with a diamond drill program of 5,000 to 10,000 meters for the 2018-2019 winter season.
Pancon President and CEO, Layton Croft, stated: “We have taken a methodical, scientific approach to crafting our initial drill program for the Montcalm Project. Our team has compiled a wealth of historic and modern geophysical and drilling data, regarding both our Project and the adjacent former mine.”
McBride Nickel-Cobalt-Copper project
The McBride Project covers 880 hectares, contains historical resources of an estimated 5.1 million tons of near-surface nickel-cobalt-copper mineralization. Pancon, in partnership with Hastings, has developed a cost-effective project development plan that, pending funding, aims to deliver the following: An updated NI 43-101-compliant Technical Report, a Scoping Study (Preliminary Economic Assessment), and a Feasibility Study.
Pancon also holds the Jefferson Gold project, located in the Carolina Gold Belt, 12 km away from OceanaGold’s Haile mine, which produced 574,606 ounces of gold in 2017. In 2011, previous owners of the Jefferson Gold Project drilled four holes with all holes encountering mineralization. The best hole containing more than 164 meters of gold averaging 1.27 grams per tonne, while another contained 35 meters of 1.12 grams per tonne of gold.
Finally, Pancon also hold a 1% gross over-ride royalty on an Australian REE project.
Why battery metals, and why now?
With global electric car sales expected to exceed 2 million in 2018 the need for battery metals is growing rapidly each year. Of course this is most likely just the first innings. For example, Bloomberg forecasts 30 million electric vehicle sales pa by 2030 and 60 million pa by 2040. Added to this will be battery metals demand from conventional sources such as electronic devices, and the rapidly emerging energy storage sector. Pancon has the potential to grow with the industry.
Matthew Bohlsen holds a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in Financial Planning. He has 30 years ... <Read more about Matthew Bohlsen>