Pancon GOLD Reports Positive Drill Results at Jefferson GOLD Project
April 4, 2017
PANCON GOLD REPORTS POSITIVE DRILL RESULTS
AT JEFFERSON GOLD PROJECT
Pancontinental Gold Corporation (TSX-V: PUC) (“ Pancon Gold,” “Pancon” or the “Company”) is
pleased to report positive gold assay results from the initia l stage of drilling at its 100%-owned Jefferson
Gold Project (“Jefferson Project”) in South Carolina, USA. A total of six holes (JEF-104 to JEF-109) and
912 meters were drilled between N ovember 2016 and March 2017, using a single shift during daylight
hours. The drill program is managed by Palmetto Mining Corporation, Pancon’s wholly owned subsidiary
(see Figure 1).
Highlights (see Table 1)
5 out of 6 holes intersected anomalous gold grades indicative of a focused gold system;
JEF-108 intersected 22.9 m averaging 1.3 g/t, including 8.5 m of 1.8 g/t;
JEF-109 intersected 12.2 m of 1.55 g/t; and
Drilling verified a northwest trending mineralized zone previously unrecognized.
Pancon Gold President and CEO Rick Mark stated: “These results have achieved our first milestone,
which is to demonstrate that our flagship Jefferson Proj ect’s first gold system is substantial in terms of its
width. Our team is beginning to understand this system so that it can be vectored. We are encouraged by
the initial drill program, and now have valuable data and informed analysis to guide our next stage of
exploration at Jefferson, as well as acquisition of new ta rgets elsewhere in this hi storically gold rich and
underexplored Carolina Gold Belt.”
Table 1: results from drilling at Anomaly A, Jefferson Gold Project (see Figures 2 and 3)
All intercepts quoted are apparent thickness. All widths reported are core intervals and not true width.
Strategic Significance of Results to Date
Pancon Gold believes our initial stage of drilling at our Jefferson Project has been quite positive for
grades and thickness of gold, especially in the fift h and sixth holes (JEF-108 and JEF-109), which were
drilled in a new orientation. Initial results are from the Anomaly A target, where the Company has
focused on defining controls on mineralization and u nderstanding the trend of mineralization in a poorly
exposed gold system partially covered by sand. The se results provide useful data and knowledge further
DH From (m) To (m) Interval (m) grade (g/t)
JEF‐104 30.8 34.4 3.7 0.96
JEF‐104 56.7 57.9 1.2 1.55
JEF‐104 68.9 72.5 3.7 1.96
JEF‐104 178.6 180.1 1.5 1.31
JEF‐106 28.4 36.6 8.2 0.93
JEF‐106 49.7 60.4 10.7 0.81
JEF‐106 99.8 100.6 0.8 1.09
JEF‐107 31 40.3 9.3 1.3
JEF‐108 100.6 123.4 22.9 1.3
including
JEF‐108 113.1 121.6 8.5 1.8
JEF‐109 51.2 54.9 3.7 0.9
JEF‐109 79.2 91.4 12.2 1.55
365 Bay St, Suite 400
Toronto, Ontario
M5H 2V1
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to 2011 drilling at Anomaly A by a prior company (as detailed in Pancon’s news release of May 25, 2016,
available on www.pancongold.com).
Gold mineralization at the Jefferson Project is controlled by intersecting trends of structure and folding.
The core from Jefferson is hosted in felsic volcanic rock, which in the mineralized areas is commonly
described as fragmental tuff or breccia near sedimentary contacts as seen in holes 104 and 105. Typically,
better gold values are in more deformed or sheared altered host rock. This resembles the Haile gold mine,
located less than 10 kilometres to the southwest of the Jefferson Project, where “the deposits are primarily
volcanic-rock hosted, massive sulfide, and disseminated gold-sulfide deposits, which formed along the
stratigraphic boundary between the metavolcanics and overlying metasedimentary rocks (Mobley and
others, 2014, Economic Geology, v. 109, pp. 1863).”
The Jefferson Project is bounded on the west by a high sulfidation gold system at the adjacent Brewer
gold mine site. Historic mining at Brewer began in 1828 and operated intermittently until 1995. From
1987-1995, the Brewer Gold Company mined over 12 million tons of ore and waste rock from several
open pits (personal knowledge of the Company’s Qualified Person and United States Environmental
Protection Agency: https://cumulis.epa.gov/supercpad/cursites/csitinfo.cfm?id=0405550).
Dr. Dennis LaPoint, PhD, LGeo., the Company’s Vi ce-President of Exploration and Qualified Person
(QP) has personally explored and examined the Haile and Ridgeway mine areas since the 1980s and notes
that the age, deformation and lithologies identified at the Jefferson Project are comparable to host rocks at
the Haile gold mine, as well as at the former Ridge way gold mine located 55 kilometres southwest of
Jefferson. Mr. LaPoint was actively exploring near Ridgeway when it was discovered and developed in
the 1980s. The Ridgeway mine was discovered in a region with minimal historic prospects that lies near
the edge of sand cover, like at Haile and at Jefferson (LaPoint, D.J., 1995, SEG Guidebook, pp. 21-52).
Pancon believes that the multiple styles of minerali zation at its 100%-owned Jefferson Project greatly
enhance the value potential of the Project. Drilling at Jefferson will resume following thorough review of
the data to date, geophysical surveys, and potential new land acquisition along the Carolina Gold Belt.
Technical Insights from Recent Drill Program
A strong and distinctive chloritic alteration is comm only associated with the strongest mineralization.
Silification and a higher percentage of pyrite correlate with gold in some instances. There is more than
one style of mineralization and more than one genera tion of pyrite. Mineralization often follows a steep
west-southwest foliation as well zones of shearing, which may follow a more northwest
orientation. Higher grades are often associated with breccia zones that are deformed.
Within one small area of drilling at the Jefferson Pr oject there are multiple mineralization styles and
orientations. For instance, although hole JEF-105 inter sected little gold, it is very important geologically
and structurally, as it suggests untested potential. Th e initial part of hole JEF-105 was in banded pyritic
sediments that are sericitized like those encountered at the Haile and Ridgeway gold mines.
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Table 2: results from drilling at Anomaly A, Jefferson Gold Project (see Figures 2 and 3):
Figure 1:
Hole_ID UTM_Easting UTM_Northing Elevation (m) azimuth
(degrees)
inclination
(degrees)
Total Depth
(ft) TD (m)
JEF‐104 555038 3836179.5 144.8 165 60 695 228
JEF‐105 555230 3836020 147.5 165 80 482 158
JEF‐106 555058.5 3836093 146.4 165 60 394 129
JEF‐107 555075 3836079 146.4 165 60 381 125
JEF‐108 555162 3836096 147.5 240 60 500 164
JEF‐109 555163 3836098 147.5 200 60 330 108
Total 2781 912
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Figure 2:
Figure 3:
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Qualified Person and Sample Protocol
Dr. Dennis LaPoint, PhD, LGeo, is a Qualified Person (QP) under National Instrument 43-101 “Standards
of Disclosure for Mineral Projects” and has approved the technical information contained in this news
release. Dr. LaPoint is not indepe ndent of Pancon Gold, as he is Panc on’s Vice-President of Exploration.
Dr. LaPoint has verified all the technical data in this release.
Samples were shipped to ALS Chemex in Arizona by truck for preparation and then to ALS in Vancouver
for fire assay gold analysis and four acid digestion 33 element IC P-AES analysis. Standard QA/QC
procedures are followed including, blanks, duplicates and standards.
About Pancon Gold
Pancontinental Gold Corporation ( www.pancongold.com) is a Canadian-based mining company focused
on the exploration and development of its 100%-owned Jefferson Gold Project in South Carolina, USA,
and on acquiring additional prospective properties. The Company’s shares are listed on the TSX Venture
Exchange, trading under the symbol PUC. In 2015, Panc on sold its interest in its Australian rare earth
element (REE) and uranium properties, formerly held through a joint venture, and retains a 1% gross
overriding royalty on 100% of future production. Pancon ’s exploration objective is to discover and define
a gold deposit similar to the Haile mine deposit, and the Board is optimistic that the Company’s flagship
Jefferson Project has the potential to provide that opportunity.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President & CEO
For further information, please contact:
Rick Mark
President and CEO
1-416-293-8437 or [email protected]
For additional information please visit our web site: www.pancongold.com, and our Twitter feed:
@PanconGold.
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.
Cautionary Language and Forward Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking
information is characterized by word s such as “plan”, “expect”, “project ”, “intend”, “believe”, “anticipate”,
“estimate” and other similar words, or statements that cer tain events or conditions “may” or “will” occur. Forward-
looking information involves risks, uncertainties and ot her factors that could cause actual events, results, and
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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-lo oking information in this ne ws 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.