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Pancon Acquires New Sawyer Historic Gold Mine, North Carolina
Toronto, Ontario--(Newsfile Corp. - January 24, 2023) - Pancontinental Resources Corporation (TSX...
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[{"type":"text","content":"Pancon Acquires New Sawyer Historic Gold Mine, North CarolinaToronto, Ontario--(Newsfile Corp. - January 24, 2023) - Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) (\"Pancon\" or the \"Company\") has entered into an exploration lease and purchase option agreement (the \"Agreement\") for the New Sawyer Gold Mine Property (\"New Sawyer\" or the \"Property\"). The property is privately owned, containing both surface and mineral rights, and covers 246.6 hectares. The property contains the historic New Sawyer Gold Mine which includes 12 identified vertical shafts. The property lies within the Sawyer-Keystone Gold Trend (\"Sawyer Trend\"), a >20 km long structurally-controlled alignment of volcanic-hosted, Haile-type alteration and historic gold mines (Moye, 2018). The New Sawyer mine and the Sawyer Trend are located in Randolph County, North Carolina.Pancon's Technical Advisor Keith Laskowski, QP, stated: \"The Carolina Terrane hosts hundreds of historic gold mines and thousands of occurences. The >20 kilometer Sawyer Gold Trend is characterized as a deeply weathered, antiformal, axial-planar shear zone with widespread alteration and gold mineralization. The New Sawyer property, on the northeastern end of the Sawyer Trend, contains historic gold mineralization that occurs within silicified zones hosted within sericite-pyrite (limonite) alteration. The Sawyer Gold Trend has similarities to the Haile Mine in South Carolina and many significant orogenic gold systems around the world.\" HistoryThe New Sawyer Mine was briefly described by the U.S.G.S. in Professional Paper 213 (Pardee & Park, 1948) where they reported prior surface sampling and noted multiple shafts ranging from 10 - 20 meters in depth. Records indicated the mine was in production in 1902, however nearby properties were operating much earlier in 1856. Gold was produced from multiple zones hosted in a large zone of Haile-type sericite-pyrite-clay alteration. No production records are available. The property has since been explored by three companies to varying degrees, starting in the 1980s:1986-88: Battle Mountain Gold completed systematic soil sampling (357 samples), trenching (13 trenches/1157 m), 6 reverse circulation drill holes and 3 core holes. Soil sampling identified two continuous soil anomalies, the main anomaly extending 650 meters no...