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Pancon Acquires Ni-Cu-Co St. Laurent Project & Consolidates Its Battery & Energy Metals Strategy in Northern Ontario
Toronto, Ontario--(Newsfile Corp. - March 25, 2019) - Pancontinental Resources Corporation (TS...
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[{"type":"text","content":"Pancon Acquires Ni-Cu-Co St. Laurent Project & Consolidates Its Battery & Energy Metals Strategy in Northern OntarioToronto, Ontario--(Newsfile Corp. - March 25, 2019) - Pancontinental Resources Corporation (TSXV: PUC) (\"Pancon\" or the \"Company\") is pleased to announce the acquisition of the St. Laurent Project (the \"Project\"), containing an advanced exploration target hosting a prominent 600-metre long electromagnetic (EM) anomaly with associated Ni-Cu-Co-Au-Pt-Pd mineralization. The Project covers 4,170 hectares and is located in St. Laurent Township, Northern Ontario, 160 kilometres northeast of Timmins, 50 kilometres south of Detour Lake Mine and 20 kilometres southeast of Casa Berardi Mine.Pancon President and CEO Layton Croft stated: \"The St. Laurent Project strengthens Pancon's strategy of exploring for essential battery and energy metals in low-risk jurisdictions near operating and former mines. It also brings a 5th project to Pancon's exploration portfolio in Northern Ontario, where we value our positive social license to operate. Past shallow drilling at our St. Laurent Project identified disseminated multi-element sulphide 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. This mineralized zone, importantly, is coincident with a strong 600-metre long EM anomaly. 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.\"Concurrent with this acquisition, the Company has made the decision to terminate its Option Agreement on the McBride Project in southeastern Ontario. Exploration Highlights and Analysis:In 1966, S. Gray, in association with Asarco Exploration, completed ground geophysics and 7 diamond drill holes (1,081 metres), from which disseminated sulphide assay results (for Ni and Cu only) were preserved for 3 holes:    DDH# Width (m) Ni% Cu%    PA-1 2.7 0.78 0.23    PA-5 19.3 0.36 0.33    PA-7 26.5 0.16 0.23   Source: Ministry of Northern Development and Mines assessment report 32E05SE0004.   In 1970, Asarco conducted ground geophysical surveys and geological mapping, followed by 4 diamond drill holes (411 ...