Business
Pancon Completes Initial VTEM Survey Over Montcalm Property; 13 Anomalies of Interest Detected
Toronto, Ontario--(Newsfile Corp. - August 14, 2018) - Pancontinental Resources Corporation (T...
About this update from Carolina Rush Corporation
[{"type":"text","content":"Pancon Completes Initial VTEM Survey Over Montcalm Property; 13 Anomalies of Interest DetectedToronto, Ontario--(Newsfile Corp. - August 14, 2018) - Pancontinental Resources Corporation (TSXV: PUC) (\"Pancon\" or the \"Company\") announced today it has completed a Virtual Time Domain Electromagnetic (VTEM) survey over part of the Company's early stage nickel-cobalt-copper Montcalm Property. The Montcalm Property is one of three properties included in the Company's Montcalm West Project, near Timmins, Ontario. The Montcalm Property is adjacent to Glencore's former Montcalm Mine, which previously mined 3.9 million tonnes of Ni-Co-Cu ore and produced more than 4 million pounds of cobalt (Ontario Geological Survey, Atkinson, 2011).\"We are encouraged by the initial analysis of our first VTEM survey work at the highly prospective Montcalm Property. We look forward to completing in-depth analyses once the data has been further processed and studied by our experts,\" said Layton Croft, Pancon's President and Chief Executive Officer. \"We will soon fly a state-of-the-art airborne gravity geophysical survey over the same area covered by this VTEM work. The gravity geophysics, combined with the VTEM results as well as surface electromagnetic geophysical surveys we plan to conduct this fall, will enhance our understanding of potential mineralization and assist in the development of the winter drill program on our Montcalm Property.\" Highlights:Completed a state-of-the-art airborne VTEM survey over the priority gabbroic phase lithology (Montcalm Mine host lithology) and adjoining prospective lithology within the main gabbro complex of the Montcalm Property; VTEM survey included a total of 280-line kilometres, covering approximately 66% of the Montcalm Property, or 2,495 out of 3,780 hectares;Pancon's preliminary analysis detected 13 anomalies of interest within the gabbro phase and other prospective gabbro complex lithology (see map below: anomalies A-K and X-Y). Many of the anomalies are directly associated with or proximal to distinctive magnetic highs, a favourable target environment for deposition of nickel-copper sulphides;Detailed analyses of the refined data by our VTEM contractor and an independent geophysicist are expected within the next six weeks;Of particular interest are two weaker VTEM anomalies (X and Y on map) located near ...