Gold, Battery and Base Metals – the Pancon Race is On.
The prolific mine region in Northern Ontario near Timmins continues to offer gold, battery and base metals, all excellent choices for the savvy investor.
Pancontinental Resources Corporation (TSXV: PUC) (“Pancon”) has now started exploration field work on their newly acquired St. Laurent Nickel-Copper-Cobalt Project. The Project is located 160 kilometers northeast of Timmins, Ontario, Canada.
The St. Laurent Nickel-Copper-Cobalt Project
The first phase of historic diamond drilling was completed in 1966, when 7 holes totaling 1,081 meters were completed. Pancon has now located a sufficient number of the drill casings in the field to re-establish and incorporate this work into its current interpretation. In the past shallow drilling at the Project identified disseminated multi-element sulfide 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.
The 4,170 hectare St. Laurent Project strengthens Pancon’s strategy of exploring for essential battery and energy metals. The acquisition of the St. Laurent Project announced on March 25th brings the portfolio number to 5 projects in Northern Ontario.
Commenting on the St. Laurent project Pancon President and CEO Layton Croft stated: “A recently completed geological compilation and a re-interpretation of past work indicates the presence of an intrusive gabbro (coarse-grained) body containing widespread anomalous Ni-Cu-Co mineralization……An unexplained robust airborne electromagnetic (EM) conductor, 600 metres in length, is coincident with the mineralized body. Our ongoing evaluation indicates these important exploration features together represent a classic Ni-Cu-Co massive sulphide target.”
Get our daily investorintel update
Old historical drilling in the region revealed nickel grades of 0.23-0.78% and copper grades of 0.16-0.33%, in a sulphide ore mineralization. More recent historical results revealed nickel grades of 0.14-0.51%, copper grades of 0.1-0.34%, and cobalt grades of 92 to 290ppm. To date these grades are not particularly high, the intersections are of reasonable sizes (up to 30m), meaning the mineralization may be quite widespread. The Company state: “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.”
Pancontinental Resources 5 Ontario projects – Montcalm, St Laurent, Gambler, Nova, and Strachan
The Jefferson Gold Project – South Carolina, USA
Pancontinental Resources project outside of Canada is the 100% owned Jefferson Gold Project. Located in Chesterfield county, South Carolina, USA, the Project now covers 644 hectares and surrounds the former Brewer Gold Mine property. The Project is under lease from private landowners who own the surface and sub-surface mineral rights. The mineralized footprint of the Jefferson Project is similar in magnitude to the footprints of the nearby Haile and Ridgeway gold mine sites and is along a nearly continuous northeast-striking structural trend of hydrothermal alteration and gold mineralization.
President & CEO Croft states: “Our Project now surrounds the former Brewer Gold Mine, which produced 178,000 ounces of gold several decades ago from open pit operations that mined only down to 100-metre depths.”
The Jefferson Gold Project is located in the prolific Carolina Gold Belt
The Jefferson Gold Project is located within one of the most significant gold trends in the United States – the Carolina Gold Belt. The Project contains multiple drill targets within a mineralized trend more than 2 kilometers wide and is on the north-eastern edge of two former, and one current gold mine proving that exceptional gold-rich mineralization is in this region. A six-hole diamond drilling program was completed in 2017 as a follow up to 4 previous drilled by owners in 2011. The best of the 4 previous holes averaged 1.27 grams of gold per tonne over a core length of 164.3 meters. Five of the six remaining holes intersected anomalous mineralization, with the two intersecting 22.9 meters averaging 1.3 grams per tonne, including 8.5 meters of 1.8 grams per tonne and 12.2 meters of 1.55 grams per tonne.
All of Pancon’s 6 projects are next to or near producing or former mines and are in safe jurisdictions (Canada & USA). Another advantage is that most of them are polymetallic with potential for gold, nickel, copper, cobalt and PGE’s. With strong management, insider ownership at a high 35%, and a very solid base of projects, Pancontinental Resources is now exploring further to find these valuable metals. Any significant success will move the stock price higher from here.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>