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Pancontinental Triples Land Position of Its Nickel-Copper-Cobalt Montcalm West Project
Toronto, Ontario--(Newsfile Corp. - April 17, 2018) - Pancontinental Gold Corporation (TSXV: P...
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[{"type":"text","content":"Pancontinental Triples Land Position of Its Nickel-Copper-Cobalt Montcalm West ProjectToronto, Ontario--(Newsfile Corp. - April 17, 2018) - Pancontinental Gold Corporation (TSXV: PUC) (\"Pancon\" or the \"Company\") is pleased to announce it has expanded its total land position nearly threefold at its Montcalm West Ni-Cu-Co Project (the \"Project\") from 3,984 hectares to 11,600 hectares. The Project is part of the nickel-copper-cobalt-rich Montcalm Gabbro Complex, within the Montcalm Greenstone Belt in the Porcupine Mining Division, approximately 65 kilometers northwest of Timmins, Ontario.In January, Pancon acquired an option to earn a 100% interest in two properties: the Montcalm Property and the Nova Property (as detailed in its January 10, 2018 press release). Due to recent Ontario government changes to legacy claim cell boundaries as part of its new online staking system, Pancon's Montcalm Property has now increased in size from 3,312 hectares to 3,780 hectares, and it's Nova Property from 672 hectares to 840 hectares.When Ontario's new online staking system was launched on April 10, 2018, Pancon successfully acquired 100% ownership of an additional 6,980 hectares in the Montcalm Gabbro Complex (the \"Gambler Property\"). The Company's Montcalm West Project now consists of three properties totaling 11,600 hectares. In light of the Company's strategic acquisition of the Gambler Property, its Montcalm West Project now covers all available land within the prospective Montcalm Gabbro Complex, with the exception of a single 20-hectare claim unit, consisting of lands prohibited from acquisition by the government, and mining leases controlled by Glencore Plc that cover the former Montcalm Ni-Cu-Co Mine. The Montcalm Mine previously mined 3,931,610 tonnes of ore grading 1.25% nickel, 0.67% copper, and 0.051% cobalt, producing in excess of 4 million pounds of Cobalt (Ontario Geological Survey, Atkinson, 2011).Layton, Croft, President and CEO of Pancon, stated, \"Our Montcalm West battery metals project is now of camp-sized proportion, and thanks to our recent oversubscribed financing, we are about to launch our exploration program at the expanded Project. The highly prospective Gambler Property, not previously explored using modern technology, gives us exceptional new land for target identification.\" There has only been spora...