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Pancon Expands Its 100%-Owned Jefferson Gold Project to Surround the Former Brewer Gold Mine Property in South Carolina
Toronto, Ontario--(Newsfile Corp. - July 15, 2019) - Pancontinental Resources Corporation (TSX...
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[{"type":"text","content":"Pancon Expands Its 100%-Owned Jefferson Gold Project to Surround the Former Brewer Gold Mine Property in South CarolinaToronto, Ontario--(Newsfile Corp. - July 15, 2019) - Pancontinental Resources Corporation (TSXV: PUC) (\"Pancon Resources,\" \"Pancon\" or the \"Company\") is pleased to announce it has strategically improved its 100%-owned Jefferson Gold Project's land position on the gold-rich Carolina Slate Belt in South Carolina, USA (see Figures 1 and 2). The Project has grown to 644 hectares (1,591 acres) and now surrounds the former Brewer Gold Mine property (see Figure 3). The Jefferson Gold Project is located on the same mineralized trend and 15 kilometres northeast of the operating Haile Gold Mine, which produced 131,819 ounces of gold in 2018 and has measured and indicated gold resources of 3.1 million ounces. The Jefferson Project is located 55 kilometres along trend northeast of the former Ridgeway Gold Mine, where Kennecott Minerals produced more than 1.6 million ounces of gold from 1988-1999.\"Pancon acquired the Jefferson Gold Project, on the highly mineralized, prospective and underexplored Carolina Slate Belt, in mid-2016. In light of today's strengthening gold market (see Figure 4), we have repositioned the Jefferson Project to take full advantage of market dynamics with our improved land package,\" said Layton Croft, Pancon President and CEO. \"Our Project now surrounds the former Brewer Gold Mine, which produced 178,000 ounces of gold several decades ago from open pit operations that mined only down to 100-metre depths.\" Brewer's prospective geology, including diatreme breccias, associated high sulphidation alteration, gold and copper mineralization, and geophysics support a possible porphyry-style copper-gold system at depth (Schmidt, R.G., 1978, The Potential for Porphyry Copper-Molybdenum Deposits in the Eastern United States, US Geological Survey). Figure 1: The Carolina Slate Belt runs from Georgia northwest through the Carolinas to Virginia, and has hosted many gold mines, including Barite Hill, Ridgeway, Howie, Haile and Brewer. The Jefferson Gold Project surrounds Brewer and is 15 km along trend from Haile. (Source: US Geological Survey and Hatcher and Butler).To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/5156/46270_ae6282ca046ee9e2_003full.jpgFigure 2: ...