Pancon Completes Dipole-Dipole Induced Polarization Geophysical Survey at Brewer
Toronto, Ontario--(Newsfile Corp. - September 28, 2022) - Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) ("Pancon" or the "Company") has completed all field work and has received all data for its 6-square kilometer dipole-dipole induced polarization (IP) geophysical survey, covering most of the 1,000-acre Brewer property and a significant portion of its adjacent Jefferson Project properties, located in Chesterfield County, South Carolina.
The IP survey was designed to cover the large alteration footprint exposed across the Brewer and surrounding Jefferson Project properties. The alteration exposed on surface forms a large topographic anomaly (see Figure 1), and consists predominantly of quartz with a diagnostic suite of advanced argillic alteration minerals including kaolinite, pyrophyllite, and topaz. Known gold-copper mineralization at Brewer occurs within this alteration zone and is hosted by a breccia unit that contains several percent sulphides. The IP geophysical method is ideally suited to help map the distribution of these alteration and sulphide zones in the subsurface and will provide important information to Pancon's exploration and discovery model. Integration of the geophysical and geologic information is ongoing, and the Company's interpretation and analysis of the data is expected to be completed in coming weeks.
Figure 1: Dipole-Dipole IP Survey Lines Location
To view an enhanced version of Figure 1, please visit:
Pancon President and CEO Layton Croft stated: "Our new dipole-dipole IP survey is the most comprehensive geophysical survey ever conducted at Brewer, and allows us to see approximately 250 meters below surface, which is especially useful for the large and complex Brewer system. our geophysical interpretation and analysis will enhance our knowledge of existing priority drill targets, and will provide us with new drill targets. Our geophysical work will set the stage for the next phase of drilling."
The IP survey was carried out by Géophysique TMC of Québec, Canada. Survey field work was conducted from May to July 2022, and Pancon received all survey data from TMC in August 2022. A total of 19 lines were surveyed using the dipole-dipole electrode array. The nominal a spacing between the electrodes was 100 meters and 8 dipoles were read (n = 1 to 8). The north-south oriented lines were 3 to 3.5 kilometers in length and spaced 100 meters apart for a total of 62 line kilometers surveyed (see Figure 1).
In addition, Mr. Philip Corriher resigned from the Board of Directors, effective today. The Company thanks Mr. Corriher for his valuable service and many contributions to the Pancon Board since October 2020.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, a Qualified Person as defined by NI 43-101.
Pancontinental Resources Corp. (TSXV: PUC) (OTCQB: PUCCF), or Pancon, is a Canadian junior mining company exploring the rich, underexplored Carolina Slate Belt in the southeastern USA. In January 2020, Pancon won the exclusive right to explore and purchase the former Brewer Gold Mine property, with an option period through October 2023. Between 1987-1995, Brewer produced 178,000 ounces of oxide gold from open pits that extended to 65-meter depths, where gold (Au) and copper (Cu) sulphides were exposed but could not be processed by the oxide heap leach operation. Pancon's 100%-owned, 1,960-acre Jefferson Gold Project nearly completely surrounds the 1,000-acre Brewer property. The Brewer-Jefferson area of interest, in Chesterfield County, South Carolina, is 12 kilometers along trend from the producing Haile Gold Mine, which produced 190,000 ounces of gold in 2021 (www.oceanagold.com). Brewer is a large, epithermal, high sulphidation gold-copper system driven by a sub-volcanic intrusive, possibly connected to a large copper-gold porphyry system at depth.
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Jeanny So, External Relations Manager
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