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Pancon Reports 9.8 g/t Gold with Average of 0.37 g/t Gold from First Two Sonic Drill Holes in Brewer Backfill Waste and Pit Floor Bedrock
Toronto, Ontario--(Newsfile Corp. - June 8, 2021) - Pancontinental Resources Corporation (TSXV...
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[{"type":"text","content":"Pancon Reports 9.8 g/t Gold with Average of 0.37 g/t Gold from First Two Sonic Drill Holes in Brewer Backfill Waste and Pit Floor BedrockToronto, Ontario--(Newsfile Corp. - June 8, 2021) - Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) (\"Pancon\" or the \"Company\"), further to its news releases of March 2 and April 27, 2021, reports gold assay and multielement geochemistry results for the remaining two sonic and two diamond drill holes drilled in Phase 1 of the Company's fully funded 10,000-meter (m) maiden diamond drill program at its flagship Brewer Gold & Copper Project. The Brewer Project, on the gold-rich Carolina Slate Belt in South Carolina, is where the former shallow Brewer Gold Mine produced 178,000 ounces of oxide gold between 1987-1995, and is located 12 kilometers along trend from the producing Haile Gold Mine. Highlights: First two sonic holes through the backfill waste material and former mined pit floor bedrock produced 242 large samples averaging about 35 kilograms (kg) per sample (see Table 1).One pit floor bedrock sonic sample contains 9.81 g/t Au; one backfill waste sample contains 5.67 g/t Au.Average gold value of all 242 sonic samples is 0.37 g/t Au; average value of all samples excluding the surface clay cap and pit floor bedrock is 0.34 g/t Au (see Table 2).All sonic samples but one contain detectable gold (>0.025g/t Au); 30 samples contain >0.5 g/t Au and 11 samples contain >1 g/t Au (see Table 3). Pancon President and CEO, Layton Croft, stated: \"Brewer's backfill waste material and former pit floor contain compelling gold values and strong gold continuity (see Table 1). The previous operator reclaimed 6.8 million tonnes of waste rock and sulphide ore they couldn't process with heap leaching, filling up two of the three mined pits to surface. The reclamation was well engineered, resulting in homogenous layers of material (see Figure 3). Our maiden sonic drill results are very encouraging, suggesting there could be enough gold in the former pits to be economic, especially since the loose material doesn't require blasting and crushing. Further, removing and monetizing the backfill is likely to reduce Brewer's ongoing environmental management needs, as we believe the waste material is exacerbating acidity in groundwater currently being extracted and treated. Additionally, re...