Pancon Completes Initial Shallow Drill Program at Former Brewer Gold Mine Property in South Carolina
Pancon Completes Initial Shallow Drill
Program at Former Brewer Gold Mine Property
in South Carolina
Toronto, Ontario--(Newsfile Corp. - September 14, 2020) - Pancontinental Resources Corporation
(TSXV: PUC) ("Pancon" or the "Company") has completed its initial shallow rotary air blast (RAB)
drilling program at its flagship Brewer Gold Project. The program commenced on August 6, concluded
on September 8, and drilled nearly 1,700 meters in 90 shallow holes. Most of the drill holes paralleled
Pancon's recently completed geophysical traverses across regionally extensive northeast-trending gold
and base metal mineralization and regional structure.
The RAB program was designed to: validate historic drill results adjacent to reclaimed workings in the
northern Brewer prospect; test Pancon's geophysical anomalies and historic geochemical anomalies;
and identify new prospective zones along the traverses. The combined drilling and geophysical traverses
will provide a critical systematic profile through the heart of the Brewer property, and will provide quality
geological, geochemical and mineralogical data that will inform the Company's upcoming deeper
diamond drill program. Results from the shallow RAB program are expected in mid-October.
Brewer is a high-sulphidation epithermal Au-Cu system that produced 178,000 ounces of near-surface
oxide gold from 1987-1995. The Brewer mine has since been reclaimed and was partially backfilled with
known sulphide-hosted gold and copper mineralization encountered at the bottom of the shallow historic
pits. The Brewer Gold Project and Pancon's Jefferson Gold Project, which surrounds the Brewer
property, are located 12 kilometers along trend from the producing Haile Gold Mine in the prolific and
underexplored Carolina Slate Belt. Brewer hasn't been explored in 23 years, and most of the tools used
previously to explore the property have since been updated with more advanced technologies.
Pancon President and CEO Layton Croft stated: "This shallow drill program complements the
compelling results of our recently completed geophysical surveys at the Brewer and Jefferson projects.
We employed rigorous quality assurance and quality controls to prepare the nearly 1,700 samples for
assay, chemistry and spectral analyses at ALS laboratories in the US and Canada. Historic drilling and
mining operations at Brewer focused only on shallow oxide gold mineralization. Less than 10% of
Brewer's 1,000-acre property has been explored and mined. Informed by Pancon's recent geophysical
data and interpretation and our analysis of historic data, we believe the remaining 900 acres of the
Brewer property - plus our Jefferson Project's surrounding 1,500 acres - are highly prospective for both
near-surface oxide gold mineralization and deeper sulphide gold-copper mineralization. Data from our
initial RAB drill program will further enrich our knowledge about Brewer's geology, minerology and
potential structural controls to maximize the impact of our initial deeper diamond drill program, which we
expect to commence in late October."
Qualified Person
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 Richard "Criss" Capps,
PhD, RPG, SME REG GEO, a Qualified Person as defined by NI 43-101.
The Company cautions that the mineralization at the former Brewer Gold Mine is not necessarily
indicative of the mineralization that may be identified on the Company's ongoing and upcoming
exploration work.
About Pancon
Pancon is a Canadian junior mining company focused on exploring the prolific and underexplored
Carolina Slate Belt in Chesterfield County, South Carolina, USA. In January 2020, Pancon won the
exclusive right to explore the former Brewer Gold Mine. Between 1987-1995, Brewer produced 178,000
ounces of oxide gold from open pits that extended to 50-meter depths, where copper and gold-rich
sulfides were exposed but could not be processed by the oxide heap leach processing facility. Brewer is
a high sulphidation system driven by a sub-volcanic intrusive and possibly containing a large copper-
gold porphyry system at depth, as indicated by: widely known prospective geology, including diatreme
breccias; associated high sulphidation alteration; gold and copper mineralization; and geophysics
(
Schmidt, R.G., 1978, The Potential for Porphyry Copper-Molybdenum Deposits in the Eastern United
States, U.S. Geological Survey
). Pancon's 100%-owned Jefferson Gold Project nearly surrounds the
former Brewer Gold Mine, and both Jefferson and Brewer are located 12 km along trend northeast from
the producing Haile Gold Mine, which produced 146,100 ounces of gold in 2019. In addition, Pancon
has four nickel-copper-cobalt exploration projects in Northern Ontario, surrounding or near producing or
former mines in proven and safe mining districts.
For further information, please contact:
Layton Croft, President & CEO or Jeanny So, Manager, External Relations
E:
T: +1.647.202.0994
For additional information please visit our new website at
www.panconresources.com
and our Twitter
feed:
@PanconResources
.
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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",
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differ materially from such forward-looking information include, but are not limited to, changes in the
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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
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preparing the forward-looking information in this news release are reasonable, undue reliance should
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