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Pancon begins shallow drill program on former Brewer Gold Mine property in South Carolina

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The Brewer Gold Project and company’s contiguous Jefferson Gold Project, whose Area of Interest surrounds the Brewer property, are located 12 kilometers along trend from the producing Haile Gold Mine, which produced 146,100 ounces of gold in 2019, on the prolific and underexplored Carolina Slate Belt.

Additional Information:

Company: Pancontinental Resources
Website: http://www.PanconResourcres.com
Stock Symbol: TSXV: PUC
Date Published: Aug 11, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Pancontinental Resources has started an initial shallow rotary air blast drilling program at its flagship Brewer Gold Project.

The Brewer Gold Project and company’s contiguous Jefferson Gold Project, whose Area of Interest surrounds the Brewer property, are located 12 kilometers along trend from the producing Haile Gold Mine, which produced 146,100 ounces of gold in 2019, on the prolific and underexplored Carolina Slate Belt.

Brewer is a high-sulphidation epithermal gold-copper system that produced 178,000 ounces of near-surface oxide gold from 1987-1995.

Brewer is a former gold mine abandoned 20 years ago with unmined gold-copper in pits and largely untested below 200 meters and open at depth, with abundant and diverse evidence of intrusion-related gold-copper mineralization beneath historic workings.

The shallow rotary air blast drill program follows up on the Company's positive results from recent reconnaissance ground geophysics program.

Pancon plans to drill approximately 100 holes, each hole being approximately 20 meters deep.

The purpose of the initial drill program is to validate historic drill results, test targets identified from recent and historic geophysical, geological and geochemical data, and to identify new prospective zones.

Results from the drilling combined with the recent geophysics will provide targets for the company's upcoming diamond core drilling program.

Layton Croft, President and CEO, stated: "This is the first time in over 20 years that anyone has conducted exploration drilling at Brewer, whose former mine was closed and reclaimed with gold-copper sulphide mineralization encapsulated in the pits as part of the mine site reclamation. Historic drill results and mining operations at Brewer focused on near-surface, high-grade oxide gold mineralization and not on the disseminated and massive sulphide mineralization at depth which was encountered in the deeper holes. Less than 10 percent of Brewer's 1,000-acre property has been explored and mined and the mineralized system is open in all directions. Given the positive results of our recent resistivity/induced polarization (IP), gravity and ground magnetics geophysical surveys, and based on our geological mapping and analysis of historic data, we believe the remaining 900 acres of the Brewer property are highly prospective for both near-surface oxide gold mineralization and deeper sulphide gold-copper mineralization."

Pancon has received the second non-refundable cash payment of $100,000 from Tempus Resources, private Canadian company incorporated in Ontario, which is acquiring up to a 100% interest in Pancon's Montcalm, Nova, Gambler and St. Laurent nickel-copper-cobalt exploration projects in Northern Ontario.

The shares are currently trading at $0.11.

For more information, please visit the company’s website at www.PanconResourcres.com, contact Jeanny So, Manager External Relations, at 647-202-0994 or by email at info@PanconResources.com.

I’m Megan Edwards for Investmentpitch Media