Pancon Intersects 1.3% Nickel, 0.47% Copper and 5.6% Sulphur over 4.2 Metres, Demostrating Ni-Cu Sulphide Potential at the St. Laurent Project
Pancon Intersects 1.3% Nickel, 0.47% Copper and 5.6%
Sulphur over 4.2 Metres, Demostrating Ni-Cu Sulphide
Potential at the St. Laurent Project
Toronto, Ontario--(Newsfile Corp. - November 7, 2019) - Pancontinental Resources Corporation
(TSXV: PUC) ("Pancon" or the
"Company") provides exploration results from a recently completed program at the Company's St. Laurent Nickel-Copper-
Cobalt Project. The program was planned to evaluate an historical Ni-Cu showing coincident with a pronounced 600-metre-long
unexplained airborne electromagnetic anomaly. Recent drilling and downhole geophysical results confirm and expand upon the
exploration potential of this new magmatic nickel sulphide target. The St. Laurent Project is located in northeastern Ontario, 50
kilometres south of the producing Detour Lake Mine and 20 kilometres southwest of the producing Casa Berardi Mine.
Pancon President and CEO Layton Croft stated: "Our initial drill program produced assay results with considerably higher grade
mineralization than previous programs (see Tables 1 and 2 below). The intersection of greater than 1% nickel within sulphide
disseminations and sulphide stringers is encouraging (see Figures 1 and 2 below). The most significant result is the low
associated Sulphur (S) content of these intersections (5-8% S). The Ni:S ratios predict a grade of 3-5% Ni for massive
sulphides (25-35% S) within this system, which is our exploration goal. Drilling has extended the mineralization a considerable
distance along strike and at depth, providing indications of a much larger system then previously known. The bore hole
electromagnetic survey (BHEM) has identified a series of significant conductors associated with the mineralized trend and
remains open and unexplained in the down plunge direction. The results of this program allow us to confidently develop a larger
exploration program to follow-up on these significant new conductors."
Highlights:
Three mineralized intervals in SL-19-01 returned Nickel (Ni) assays averaging greater than 1% Ni.
SL-19-03 intersected 113 metres of a wide continuous section of disseminated sulphides and sulphide stringers,
extending the mineralized system to approximately 500 metres.
The Ni-S ratios predict a grade of 3-5% Ni in a massive sulphide.
BHEM surveys have identified a complex series of conductors plunging to the northeast within and proximal to the
interpreted mineralized trend.
Figure 1: SL-19-01
253.6m sulphide breccia at 1.6% Ni, 0.41% Cu, 7.7%S
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Figure 2: SL-19-01
259.5m sulphide stringers at 0.6% Ni, 0 .06% Cu, 7.0% S
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SL-19-01 intersected a broad section of mineralized gabbro, interrupted by several barren dikes. Three mineralized intervals all
returned Ni assays greater than 1% Ni. This mineralization is located 90 metres down dip from the nearest drill intersection,
demonstrating higher grade portions to the mineralized system.
SL-19-03 intersected a 113 metre-wide continuous section of disseminated sulphides and sulphide stringers. The intersection is
located 250 metres northeast of the nearest drill intersection, thus demonstrating the size potential and continuity of the target
area
(see Table 3 and Figure 3 below). Limited drilling on the Project does not provide sufficient information to accurately
determine the geometry of the mineralization or the true thickness of reported intersections.
Borehole TDEM geophysical surveys indicate a complex series of conductive features plunging to the northeast. The Maxwell
Plate interpretation indicates conductive anomalies along a down plunge distance of 550 metres, greatly extending the
exploration target area. Additional geophysical modelling is being considered to assist in selecting drill targets. As massive
sulphides are generally strong conductors, Pancon is confident that the interpretation of the geology and the geophysical results
at the St. Laurent Project support additional exploration drilling to discover massive sulphide mineralization.
Table 1: St. Laurent 2019 Drill Results from Pancon
DDH
From
To
Width
Ni (%)
Cu (%)
Co (ppm)
Au+Pt+Pd (ppb)
S (%)
SL-19-01
238.5
248.6
10.1
0.32%
0.33%
155
0.1
2.2
SL-19-01
248.6
252.4
3.8
Dike no values
SL-19-01
252.4
256.0
3.6
1.07%
0.45%
503.9
0.4
5.1
SL-19-01
256.0
256.7
0.7
Dike no values
SL-19-01
256.7
260.9
4.2
1.26%
0.47%
568
1.0
5.6
SL-19-01
260.9
265.8
4.9
Dike no values
SL-19-01
265.8
270.5
4.7
1.03%
0.83%
506
0.5
4.8
SL-19-02
No significant assays
SL-19-03
328.0
441.4
113.4
0.22
0.17
139
0.1
3.4
SL-19-04
No significant assays
Table 2: St. Laurent 2008 Drill Results from Previous Operator
DDH
From
To
Width
Ni (%)
Cu (%)
Co (ppm)
Au+Pt+Pd (ppb)
S (%)
SL-08-01
62.9
112.4
49.5
0.15
0.12
107
0.06
1.6
SL-08-01
120.3
125.4
5.1
0.21
0.09
149
0.05
2.1
SL-08-01
129.4
133.4
4.0
0.13
0.11
115
0.06
1.6
SL-08-01
154.9
157.9
3.0
0.10
0.04
85
0.05
1.0
SL-08-02
65.2
81.1
15.9
0.27
0.23
149
0.08
2.0
SL-08-02
85.4
104.2
18.8
0.33
0.31
194
0.10
2.8
SL-08-03
157.1
187.1
30.0
0.25
0.19
146
0.09
2.0
SL-08-03
193.2
205.7
12.5
0.14
0.15
116
0.03
1.8
SL-08-03
214.3
217.3
3.0
0.16
0.06
124
0.05
1.8
Table 3: St. Laurent Drill Hole Location
BHID
UTM E
UTM N
Elev Z
Az
Dip
EOHm
SL-19-01
603778
5469185
290
330
-60
471.0
SL-19-02
603778
5469185
290
330
-75
441.0
SL-19-03
603963
5469306
290
330
-60
477.0
SL-19-04
603615
5469107
289
330
-45
342.0
SL-08-01
603680
5469279
292
330
-55
158.4
SL-08-02
603719
5469301
292
330
-55
227.2
SL-08-03
603750
5469246
289
330
-55
218.3
Figure 3: St. Laurent Drill Hole Locations
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Technical Disclosure
The sampling of, and assay data, from drill core is monitored through the implementation of a quality assurance - quality control
(QA-QC) program designed to follow industry best practice. Samples are transported in sealed bags to ALS Laboratories in
Timmins Ontario for preparation. Pulps are transported to Vancouver, British Columbia for 35 element MEICP41 Aqua regia
ICP AES analysis, PGM ICP23 for Au-Pt-Pd analysis, S-IR08 for Sulphur analysis, Cu OG46 analysis for >10000 ppm Cu and
NiOG46 analysis for >10000 ppm Ni. The technical content of this release has been compiled, reviewed and approved by Todd
Keast, P.Geo., a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Pancon
Pancontinental Resources Corporation (TSXV: PUC), or Pancon, is a Canadian junior mining company focused on North
American gold and battery metals projects surrounding or near producing or former mines in proven and safe mining districts.
Pancon's 100%-owned Jefferson Gold Project is 15 km along trend northeast from the Haile Gold Mine and surrounds the
former Brewer Gold Mine, both in South Carolina and on the prolific and underexplored Carolina Slate Belt. In addition, Pancon
has five nickel-copper-cobalt projects in Northern Ontario. The Montcalm, Gambler, Nova and Strachan Projects are near and/or
surround the former Montcalm Ni-Cu-Co Mine property owned by Glencore and located 65 km northwest of Timmins. The St.
Laurent Project has an advanced Ni-Cu-Co-Au-Pt-Pd target located 50 km south of the Detour Lake Mine and 20 km southwest
of the Casa Berardi Mine.
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 Todd Keast, P.Geo., a Qualified Person as defined by NI 43-101. Mr. Keast is a
member of Pancon's Technical Advisory Committee and Pancon's Projects Manager. Certain technical information within this
news release is historical in nature and pre-dates NI 43-101 standards; this information is believed to be reliable however the
Company has not verified this material.
For further information, please contact:
Layton Croft, President & CEO or Jeanny So, Manager, External Relations
E:
T: (Carolinas) +1.980.498.7688; (Ontario) +1.647.202.0994
For additional information please visit our new website at
www.panconresources.com
and our Twitter feed:
@PanconResources
.
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.
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", "believe", "anticipate", "estimate" and other similar words,
or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties
and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by
such forward-looking information. Factors that 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-looking information in this news 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.
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