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Pancon to Commence Phase 2 Drilling Below Former Brewer Gold Mine
Toronto, Ontario--(Newsfile Corp. - April 1, 2021) - Pancontinental Resources Corporation (TSX...
About this update from Carolina Rush Corporation
[{"type":"text","content":"Pancon to Commence Phase 2 Drilling Below Former Brewer Gold MineToronto, Ontario--(Newsfile Corp. - April 1, 2021) - Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) (\"Pancon\" or the \"Company\") will commence Phase 2 drilling at its flagship Brewer Gold Project on April 5, following the recent success of its Phase 1 reconnaissance drilling, which included two holes directly beneath the former Brewer Gold Mine (see March 2, 2021 news release). The Project covers nearly 1,000 acres on the gold-rich Carolina Slate Belt in South Carolina, located 12 kilometers along trend from the producing Haile Gold Mine, and is where a former shallow mine produced 178,000 ounces of oxide gold between 1987-1995.Phase 2 is fully funded and aims to drill at least 3,000 meters in 8 to 10 holes that will include both sonic and diamond drilling. Pancon's strategy is to systematically explore both the shallowly exposed Brewer epithermal gold-copper system and the deeper porphyry roots below and near the former mine, at depth, as well as in satellite zones. Since Holes 4 and 5 were drilled vertically through and below the 55 to 65 meters of reclaimed material from the former mining operation and into natural rock, the Company intends to drill more vertical holes through and below the former mine in Phase 2.The Company is still awaiting the remainder of gold assay and multielement geochemistry results for the majority of the 7 diamond and 2 sonic holes drilled in Phase 1. Meantime, Pancon has been analyzing valuable historic blast hole data and new downhole and surface geophysical data, primarily focusing below the former main mined pit. Pancon President and CEO Layton Croft, stated: \"We know Brewer is geologically and geochemically complex. Our team's use of old data and new data, with modern analytical tools, gives us high confidence in where best to drill next. We are commencing Phase 2 drilling before receiving all Phase 1 results from the labs. Specifically, Pancon has compiled about 35,000 historic blast hole gold assays from the former mine, which was mostly developed in the zone of supergene enrichment, to create a solid model (3D) of that mineralization. This historic blast hole model helps us better understand the direction and shape of gold mineralization below the former mine (see Figure 1 and Figure 2).\"The Company's mode...