Mr. Layton Croft reports
PANCON BEGINS DRILLING AT ST. LAURENT BATTERY METALS PROJECT
An initial diamond drilling and downhole geophysics program has begun at Pancontinental Resources Corp.'s St. Laurent nickel-copper-cobalt project. Located in St. Laurent township in Northern Ontario, the project is 160 kilometres northeast of Timmins, 50 kilometres south of Detour Lake mine and 20 kilometres southwest of the Casa Berardi mine.
Pancon president and chief executive officer Layton Croft stated: "With the price of nickel up 71 per cent year to date, we are especially excited to drill at St. Laurent, with the objective of testing and explaining a very well-defined and unexplained airborne electromagnetic (EM) conductor. Our compilation of exploration work from previous operators suggests a strong data-supported nickel-sulphide target signature, featuring six metals (nickel-copper-cobalt-gold-platinum-palladium). The 600-metre-long airborne EM anomaly is coincident with a sizable Ni-Cu-mineralized gabbro body, which has only been drill tested down to 175 vertical metres. The Ni-Cu-mineralized body, in conjunction with the unexplained EM anomaly, represents an intriguing exploration target."
The initial program will include up to 2,000 metres of diamond drilling in four to five holes over four weeks, as well as downhole EM geophysical surveys in the new holes and existing holes from previous operators.
About the St. Laurent project
Pancontinental acquired the St. Laurent project earlier this year (see news release dated March 15, 2019), which covers 4,170 hectares and is located in St. Laurent township, Northern Ontario, 160 kilometres northeast of Timmins, 50 kilometres south of the Detour Lake mine and 20 kilometres southwest of the Casa Berardi mine.
Past shallow drilling at the St. Laurent project identified disseminated multielement sulphide mineralization across notable widths trending toward a large gabbro-hosted magnetic feature.
The nickel-copper-cobalt-gold-platinum-palladium zone is open along strike and at depth. This mineralized zone is coincident with a strong 600-metre-long electromagnetic anomaly.
Drilling to date has not yet intersected massive sulphides, and the electromagnetic anomaly has not yet been explained. The disseminated sulphide halo provides an important vector to guide the company's coming exploration work.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Todd Keast, PGeo, a qualified person as defined by NI 43-101. Mr. Keast is a member of Pancontinental's technical advisory committee and is Pancontinental's project manager. Certain technical information within this news release is historical in nature and predates NI 43-101 standards; this information is believed to be reliable -- however, the company has not verified this material.
About Pancontinental Resources Corp.
Pancontinental Resources is a Canadian junior mining company focused on North American gold and battery metal projects in proven mining districts and near producing or former mines. Pancontinental's 100-per-cent-owned Jefferson gold project is 15 kilometres along trend from the Haile gold mine and next to the former Brewer gold mine, on the Carolina gold belt in South Carolina, United States. Pancontinental has five nickel-copper-cobalt projects in Northern Ontario.
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