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Pancontinental Gold Announces Exploration Plans for Its Strategic Nickel-Copper-Cobalt Project and Arranges Financing
Toronto, Ontario--(Newsfile Corp. - March 14, 2018) - Pancontinental Gold Corporation (TSXV:...
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[{"type":"text","content":"Pancontinental Gold Announces Exploration Plans for Its Strategic Nickel-Copper-Cobalt Project and Arranges FinancingToronto, Ontario--(Newsfile Corp. - March 14, 2018) - Pancontinental Gold Corporation (TSXV: PUC) (\"Pancontinental\" or the \"Company\") is pleased to announce the Company's exploration plans for its recently acquired Montcalm West Nickel-Copper-Cobalt Project, and that it is raising up to $1,500,000 to fund this initial exploration. The Company has an option to acquire a 100% interest in the Montcalm West Project, which is comprised of two separate properties: Montcalm and Nova (see news release of January 10, 2018). Layton Croft, Pancontinental President and Chief Executive Officer stated: \"We are very excited that with this financing we can quickly commence work on the Montcalm West Project. Market demand for battery metals, including cobalt and nickel, is very strong. We anticipate this program, which includes the use of state-of-the-art airborne technology, will identify numerous prospective drill targets on both the Montcalm and Nova properties.\"Upon completion of financing, the Company will conduct an airborne, state-of-the-art, versatile time domain electromagnetic (VTEM) survey over its Montcalm Property, which is contiguous to and surrounds the western portion of the former Montcalm Mine. In addition, the Company will be conducting an airborne gravity survey. The purpose of these two surveys is to identify and define anomalies similar to those found at the adjacent former Montcalm Ni-Cu-Co Mine, which previously mined 3,931,610 tonnes of ore grading 1.25% nickel (Ni), 0.67% copper (Cu), and 0.051% cobalt (Co), producing in excess of 4 million pounds of Cobalt (Ontario Geological Survey, Atkinson, 2011). All targets identified will be prioritized for subsequent diamond drilling. Concurrent to this work, existing untested anomalies on the Montcalm Property will also be further defined and prioritized for diamond drilling. The Montcalm Property consists of 16 contiguous mining claims (3,312 hectares) and is located in the Porcupine Mining Division, approximately 65 kilometres northwest of Timmins, Ontario.At its Nova Property, located approximately 19 kilometres southwest of the Montcalm Mine, the Company will be conducting a program designed to assess significant anomalous cobalt occurrences, and a high...