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OLIVUT ANNOUNCES CHANGE TO ANNUAL GENERAL AND SPECIAL MEETING LOCATION

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, March 17, 2020 (GLOBE NEWSWIRE) — Olivut…

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, March 17, 2020 (GLOBE NEWSWIRE) — [nxtlink id="269360"]Olivut Resources Ltd.[/nxtlink] (“Olivut” or the “Company”) ([nxtlink id="269360"]TSXV:OLV[/nxtlink]) announces today that its annual general and special meeting (the “Meeting”) of holders of common shares of the Company, which was originally to be held on March 25, 2020 at 2:00 p.m. (Eastern Time) at the offices of Stikeman Elliott LLP will now be held at the Company’s offices on March 25, 2020 at 12:30 p.m. (Mountain Time).

Due to ongoing concerns regarding the Coronavirus (COVID-19) and to mitigate risks to the health and safety of our communities, other shareholders, employees and other stakeholders, the Company strongly encourages that all shareholders wishing to listen to the Meeting do so by calling the number below. The Company strongly encourages that all shareholders vote prior to the Meeting. We intend to hold the Meeting in person; however, we are actively monitoring the current Coronavirus (COVID-19) outbreak. In light of the rapidly evolving news and guidelines related to the Coronavirus (COVID-19) outbreak, we ask that, in considering whether to attend the Meeting, shareholders follow the instructions of the Public Health Agency of Canada (https://www.canada.ca/en/public-health/services/diseases/coronavirus-disease-covid-19.html) and all additional provincial and local instructions. We ask that shareholders not attend the Meeting in person if experiencing cold or flu-like systems, or if a shareholder or someone the shareholder has been in close contact with has travelled to/from outside of Canada within the 14 days prior to the Meeting.

Shareholders are reminded that there are a number of voting methods available to them, including:

  • Submitting a proxy over the internet at www.investorvote.com;
  • Submitting a proxy by telephone (North America – 1-866-732-8683 or Internationally – 312-588-4290); and
  • By mail, fax or email by completing and returning a signed proxy using the instructions provided in the Company’s Form of Proxy, which has been made available on SEDAR.

Shareholders may use the following information to listen to the Meeting via conference call:

Dial-In Numbers:

Toll-Free: 1-800-969-9731
Confirmation Code: 2960893

The Meeting will be held on March 25, 2020, at 12:30 p.m. (Mountain Time) at the offices of the Company located at:

14 Mountain Park Properties
27010 Highway 16
Jasper East, Alberta

The Company has filed an amended notice of meeting and notice of availability of proxy materials on SEDAR and both have been made available to shareholders for download. Anyone not attending the Meeting in person will not be able to participate.

The Company apologizes for any inconvenience this may cause.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project (the “HOAM Project”) and an option to earn 50% interest in the Horton Project, both projects being located in Canada’s Northwest Territories. Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

Leni Keough, P.Geo.
President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT: For further information, please contact:
Leni Keough
President and Chief Executive Officer
[nxtlink id="269360"]Olivut Resources Ltd.[/nxtlink]
(780) 866-2226



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Today’s News

Mirasol Resources Announces Start of Drilling at Gorbea and Provides Exploration Update

VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”)…

VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) — [nxtlink id="269296"]Mirasol Resources Ltd.[/nxtlink] (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) today provided an update on exploration plans for the current field season and is also pleased to report that drilling has commenced at its Newcrest-partnered Gorbea Au project in Northern Chile.

Tim Heenan, Mirasol’s President stated: “We have made excellent progress on our self-funded and partnered projects and are off to a very strong start this field season. Drilling is currently underway at our partnered projects Gorbea, Nord and Virginia. We are very excited to be preparing for a maiden ground exploration program at our self-funded Sobek project to follow up on compelling magnetic features identified in the recently completed aeromagnetic survey. We are also currently conducting a deep-penetrating geophysical survey at our self-funded Sascha Marcelina project, which will be followed up by deep drilling to further test the principal sulphide-rich Pellegrini breccia target.”

A webinar with Tim Heenan, the Company’s President and Patrick Evans, the Executive Chair will be held on December 7th, 2021 at 10:00 am PT / 1:00 pm ET. A short presentation will be followed by a Q&A session. Registration can be completed using this link.

Figure 1: Mirasol’s Project Portfolio

Chile Update:

Newcrest plans to complete five reverse circulation drill holes for 2,500m on the Atlas and El Dorado prospects. Atlas is the most advanced prospect in the Gorbea high sulfidation epithermal (“HSE”) Au-Ag property package and has been the focus of Newcrest’s drilling activities to date. The El Dorado prospect is a new target that will be drill tested for the first time.

Atlas hosts widespread Au-Ag mineralization within the central breccia complex, which remains open to the north, east and southwest. Newcrest is planning to drill two holes at Atlas for 1,000m to test potential extensions and higher-grade mineralized zones.

El Dorado is located 10 km to the southeast of Atlas and the area between these two prospects is covered by post mineralization mafic volcanics. El Dorado comprises mid-Miocene felsic-andesitic lavas and volcanic breccias that have been intruded by daci-andesite domes and polymictic breccias with clasts of vuggy silica, which are host to a large (3.1 x 1.4 km) northwest trending zone of advanced argillic alteration. A geochemical soil sampling program completed by Newcrest has defined an anomalous zone of pathfinder elements including Sb, As, Se and Bi that is associated with the margins of a dome complex in the southern part of the property. A strong association of Bi, Mo, As, Se, Hg is also seen to be closely associated with zones of steam heated alteration in both the northern and southern parts of the prospect. Newcrest also completed five survey lines of Controlled Source Audio-Magnetotellurics (“CSAMT”), totalling 11.4 km, identifying multiple highly resistive (>10,000 ohm), subvertical zones along the margins of the southern outcropping dacitic dome complex that are coincident with steam-heated and alunite-altered polymictic breccias. Based on this surface work, Newcrest will drill three scout holes for 1,500m to test the north and south zones, which are characterized by coincident geochemical and geophysical anomalies in prospective geology.

  • Sobek Cu Project – Self-funded

The processing of the high-resolution aeromagnetic survey has been completed and multiple highly prospective geophysical targets have been identified. Preparations for a ground exploration program at Sobek are well advanced and Mirasol expects to complete an initial campaign before the end of the year. This program will assess the potential for porphyry Cu-Au and epithermal Au-Ag mineralization with geochemical sampling, detailed geological mapping and potentially additional ground (Induced Polarization (“IP”) and magnetics) geophysical surveys over priority prospects.

  • Altazor Au/Ag Project – Self-funded

Altazor is a drill-ready project with both a centrally located Maricunga-style Au-(Cu) porphyry target and a HSE Au-Ag target further to the south under post alteration young capping volcanic flows. Mirasol is considering self-funding an initial 2,000m drill program to test these two targets, but is also assessing partner opportunities to advance the project aggressively. Engagement with the local community on exploration plans is progressing.

First Quantum is preparing to further advance and test the porphyry Cu target previously delineated at the Coronación project during the current field season. Surface sampling, alteration and geological mapping and geophysical surveys completed to date have outlined an attractive porphyry target that displays characteristics similar to other Miocene age porphyry Au-(Cu) systems in the highly productive Maricunga belt.

  • Rubi Cu Project – Under Option to Mine Discovery Fund Pty Ltd.

Mirasol recently reported the results of a 1,887m drill program completed at the Rubi Cu porphyry project, which identified a large and strongly developed porphyry-style alteration system. A deep-sensing IP and magnetotellurics (“MT”) geophysical program is planned to be completed in Q1 2022 in preparation for follow-up drilling at the Lithocap and Zafiro targets.

  • Nord Polymetallic Project – Under Option with Encantada SpA

Drilling is ongoing at Nord to test the multiple north-northeast trending mineralized corridors identified on the property. Encantada has completed three drill holes located within the Mirasol property for a total of 500m as part of a 1,200m program.

  • Inca Gold – Self-funded

A geophysical survey focused on the Au anomaly outlined at the Vania porphyry Au-Cu prospect is expected to be completed in Q1 2022. Vania sits within a prospective structural setting within a strong north-northeast structural corridor which hosts the Inca del Oro porphyry to the south and the giant El Salvador mine to the north.

Argentina Update:

  • Sascha Marcelina Au/Ag Project – Self-funded

A deep penetrating IP geophysics program is underway at the Pellegrini target to follow up on the mineralization encountered during the Phase I drill program. A 450m-deep hole is planned for early December to test whether the broad interval of mineralization returned in hole PEL-DDH-005 is peripheral to a larger mineralized breccia body extending to depth and laterally.

The Phase III drill program at Virginia is progressing well, with 2,437m completed in 15 holes in proximity to the current Virginia Ag resource. Drilling is now focused on the Central and East zones at the Santa Rita target, 15 km north-northwest of the Virginia resource area, which is characterized by outcropping epithermal vein structures and zones of sheeted veinlets where surface rock chip sampling has returned encouraging Au and Ag results. Five holes for approx. 500m are planned at this prospect to test the continuation of Au-Ag mineralization at depth.

  • Libanesa Au/Ag Project – Under Option to Golden Arrow Resources Corp.

Golden Arrow has initiated its surface exploration program at Libanesa to refine targets for a drill program expected to commence in the first quarter of 2022. Reconnaissance rock chip sampling in proximity to the key prospects and soil (LAG) sampling lines have already been completed.

This season, Patagonia Gold will be advancing with the surface exploration work at Homenaje, which is located just to the south of their Cap Oeste operation. Exploration activities to define drill targets are to include detailed geological mapping, channel geochemical sampling across exposed structures, ground magnetics and IP geophysics surveys over priority targets.

Summary

Drilling is now ongoing on three projects (Gorbea, Nord and Virginia), with a fourth (Sascha Marcelina) to be drill tested shortly, for a cumulative 6,500m to be drilled by the end of 2021. Further drilling is anticipated in early 2022 as Mirasol and its partners are actively working to advance five additional projects to a drill-ready stage. This represents another active exploration season for Mirasol and will support strong news flow over the next 6 to 9 months as results are reported.

About [nxtlink id="269296"]Mirasol Resources Ltd.[/nxtlink]

Mirasol is a well-funded exploration company focused in Chile and Argentina. Mirasol has seven partner-funded projects, with Newcrest Mining Ltd (Chile), First Quantum Minerals (Chile), Mine Discovery Fund (Chile), Mineria Activa (Chile), Silver Sands Resources (Argentina), Patagonia Gold (Argentina) and Golden Arrow (Argentina). Mirasol is currently self-funding exploration at Sobek (Chile), Inca Gold (Chile) and Sacha Marcelina (Argentina).

For further information, contact:

Tim Heenan, President
or
Jonathan Rosset, VP Corporate Development

Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com

Qualified Person Statement: Mirasol’s disclosure of technical and scientific information in this press release has been reviewed and approved by Tim Heenan (MAIG), the interim President for the Company, who serves as a Qualified Person under the definition of National Instrument 43-101. Newcrest is the operator for the Gorbea project, and Mirasol relied on their internal quality control and quality assurance protocols.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and to policies linked to pandemics, social and environmental related matters. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.






[nxtlink id="268649"]newcrest mining limited[/nxtlink]

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Ethos Samples 2,571 g/t Au at Titan, and Identifies Additional Targets, Toogood Project, Newfoundland

Vancouver, British Columbia–(Newsfile Corp. – November 24, 2021) – Ethos Gold Corp. ("Ethos" or the "Company") (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) is…

Vancouver, British Columbia–(Newsfile Corp. – November 24, 2021) – [nxtlink id="269014"]Ethos Gold Corp.[/nxtlink] (“Ethos” or the “Company“) (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) is pleased to announce additional bonanza grade outcrop samples at the newly named Quinlan and Titan showings in its first pass exploration program at the Toogood property which encompasses 118km2 of mineral claims on New World Island, Newfoundland.

Highlights

  • At the Titan showing, additional grab samples with local visible gold graded 2,571.60, 1,146.87, 310.40, 236.86 g/t Au (Figures 1, 2). New stripping and detailed geological mapping and sampling have identified a 40m by 10m wide mineralized zone, open along strike and to depth. Gold is hosted in quartz-ankerite veins within altered shale and greywacke, likely emplaced along west-northwest trending structures. A total of 50 channel samples across five separate channels (total 27.94m) have been collected to test the continuity of mineralization outside of the known visible gold. Channel assays remain pending. Note that surface samples are grab/select samples and are not necessarily representative of mineralization hosted on the property.
  • At the newly named Quinlan showing, additional assays of 229.88, 43.07, 19.09, 13.1, 10.79, 5.60, and 4.12 g/t Au are reported from composite chip and grab samples of quartz vein material hosted in an altered felsic dike (Figures 1, 3). New stripping of the outcrop and subsequent geological mapping, and sampling has identified a 90m by 15m wide mineralized zone, open to depth and concentrated in along north-northeast trending structure. A total of 45 channel samples across seven separate channels (total length sampled of 23.5m) have been collected to test the continuity of mineralization outside of the known visible gold. Channel assays are pending.
  • A new showing, Sherwood has been identified approximately 1.6km south-east of the Quinlan Showing on the intersection two northeast trending structures (Figure 1,4). Following up on a 2.11 g/t float sample collected earlier in the season in an area of limited outcrop, multiple outcrop/subcrop of felsic dike and quartz fragments have been uncovered through test pits. Subsequently, a total of 883 soil samples were collected across the target, focused on along the Virgin Arm Fault and related structures. Initial XRF analysis of the soils indicate a large elongate As anomaly with up to 5551 ppm As aligned with the Virgin Arm Fault for a strike length of approximately 800m. In addition, 32 of the 833 soil samples that were analysed using the XRF were positive for Au3. Visible gold was panned from a number of soils samples with positive Au and high anomalous As XRF results (Figure 4). Local outcrop stripping is ongoing at the core target at Sherwood which will be followed by detailed mapping and sampling.

Alex Heath, CFA., President and CEO stated: “Titan and Quinlan continue to develop into robust showings as progressive and systematic exploration expands our geological knowledge of the area. With the addition of Sherwood as priority target, we are encouraged by the untapped prospectivity of the project.”

Additional Exploration

Newly acquired LiDAR data and Airborne Magnetic Survey continue to be processed and analyzed. Prospecting and localized geological mapping is ongoing and follow up on key target areas identified in historical sampling, LiDAR and geophysics. In addition, GoldSpot Discoveries Corp. (“GoldSpot”) has undertaken a thorough analysis on all available data over the property and has also used advanced statistical methods to process and treat LiDAR data recently acquired by Ethos. With this data, GoldSpot used machine learning techniques to automatically identify lineaments. In their process GoldSpot used its proprietary deep learning “Outcrop Detection” tool to assist Ethos field team to spend time more efficiently in the field.

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Figure 1. 2021 Gold Occurrences at the Toogood Gold Project, Newfoundland

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1564/104925_e5a45e49e41dc828_002full.jpg

1 Historical assay values have not been independently verified by the Company and a potential investor should not place undue reliance on historical results when making an investment decision, nor should they be used as the sole criterion for making investment decisions. There is no assurance that the Company can reproduce such results or that the historical results described therein will be realized.
2 “Best surface samples” are grab / select samples and not necessarily representative of mineralization hosted on the property.
3 XRF analytical values for Au are considered unreliable, however positive Au results are considered indicative of the presence of Au within the sample(s).. All of the XRF soil analysis are used for rapid and efficient targeting of potential mineralised zones.

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Figure 2. Titan Showing Geology and Rock Grab Assays

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Figure 3. Quinlan Showing Geology and Rock Grab Assays

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Figure 4. Panned soil sample with visible gold, and Quartz Rock fragments from the new Sherwood showing.

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https://orders.newsfilecorp.com/files/1564/104925_ethosfig4.jpg

Note that these photos are not intended to be representative of gold mineralization

Toogood Gold Property Geology Overview

Toogood Project lies at the northeast extent of the Exploits Subzone (Dunnage Zone) of Central Newfoundland and is underlain mostly by the Ordovician Dunnage Melange and the Badger Belt (Figure 3). The Exploits Subzone area trends 200km northeast / southwest across the island of Newfoundland, and hosts most of the significant gold deposits in the province including Marathon Gold’s Valentine Project which hosts 3.14 Moz. M&I at 1.72 g/t (NI 43-101 Technical Report & Feasibility Study on the Valentine Gold Project – April 15, 2021). Gold mineralization on the Toogood Project is hosted by a suite of Devonian felsic dykes which cross-cut the property, emplaced in the latter stages of a polyphase tectonic history. Gold mineralization is associated with arsenopyrite, pyrite, trace chalcopyrite, and fine-grained native gold within pervasive sericite altered rocks, and concentrated along intersections between late-stage conjugate brittle faults.

Analytical Procedure

All 2021 samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (ISO 17025:2005) located at Springdale, Newfoundland by the metallic screen or fire assay with an AA finish method.

Soil powder samples were analyzed by a Reflex Delta Model DP-2000-CC using Innov-X Delta advanced PC software. Prior to the start of analyses each day a routine calibration check was performed on the instrument using a Reflex Standard “cal check” coin.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo., M.Sc., VP Exploration of Ethos, and a Qualified Person as defined under National Instrument NI 43-101 (“NI 43-101”).

About [nxtlink id="269014"]Ethos Gold Corp.[/nxtlink]

Ethos Gold, a Discovery Group company, has accumulated a portfolio of district-scale projects in British Columbia, Ontario, Quebec, and Newfoundland that have large scale discovery potential. The Company has a solid technical team led by Dr. Rob Carpenter, formerly the CEO of Kaminak Gold Corporation, who led the Kaminak team from initial listing in 2005 through acquisition and discovery of the multiple-million-ounce Coffee Gold Project. In Ethos, he has assembled a senior technical advisory team with a strong record of discovery success and includes Dr. Robert Brozdowski, P.Geo., Dan MacNeil, M.Sc., P.Geo., Dr. Alan Wainwright, P.Geo, Jodie Gibson, M.Sc., P.Geo., and Dr. Quinton Hennigh, an economic geologist with 25 years of exploration experience formerly with Homestake Mining Company, [nxtlink id="268649"]Newcrest Mining[/nxtlink] and Newmont Mining Corp. Ethos is advancing its nine projects throughout Canada under the stewardship of Vice President of Exploration, Jo Price, P.Geo., MBA, with work programs underway this summer with dedicated teams on each project.

Ethos engages proactively with Indigenous rightsholders and seeks to develop relationships and agreements that are mutually beneficial. The Company’s community relations efforts are led by Michelle Tanguay who has over 25 years experience in indigenous and stakeholder engagement and environmental program design and management.

With approximately C$8 million in working capital, Ethos is well funded to advance its portfolio of Canadian projects.

[nxtlink id="269014"]Ethos Gold Corp.[/nxtlink]
Per: “Alex Heath
Alex Heath, CFA, President and CEO

For further information about [nxtlink id="269014"]Ethos Gold Corp.[/nxtlink] or this news release, please visit our website at ethosgold.com or contact Alex Heath at 604-354-2491 or by email at [email protected].

[nxtlink id="269014"]Ethos Gold Corp.[/nxtlink] is a proud member of Discovery Group. For more information please visit: discoverygroup.ca

Forward-Looking Statement Cautions:

This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company’s plans with respect to the Company’s projects and the timing related thereto, the merits of the Company’s projects, the Company’s objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,”, “strategy”, “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company’s exploration plans, risks and uncertainties related to the COVID-19 pandemic and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Pancon Intersects 62 Meters of 1.0 g/t Gold 150 Meters South of Former Brewer Gold Mine

Toronto, Ontario–(Newsfile Corp. – November 24, 2021) – Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) ("Pancon" or the "Company") provides…

Toronto, Ontario–(Newsfile Corp. – November 24, 2021) – [nxtlink id="269394"]Pancontinental Resources Corporation[/nxtlink] ([nxtlink id="269394"]TSXV: PUC[/nxtlink]) (OTCQB: PUCCF) (“Pancon” or the “Company”) provides drill results for diamond drill holes 13, 14 and 15 at its flagship Brewer Gold & Copper Project in South Carolina, USA (see Table 1 and Figure 1).

Highlights

  • Hole 15 intersected 62.4 meters of 1.03 g/t Au and 0.15% Cu, including the previously reported interval of 20.2 meters of 2.25 g/t Au and 0.35% Cu, and 8.50 meters of 3.32 g/t Au and 0.65% Cu (see September 8, 2021 news release)
  • Hole 15 intersected an additional 19 meters of 0.31 g/t Au starting at a 4-meter vertical depth
  • Hole 14B intersected 106.6 meters of 0.31 g/t Au
  • Hole 13 interested 42.35 meters of 0.42 g/t Au, including 7 meters of 0.60 g/t Au and 0.23% Cu

Pancon Exploration Manager and Qualified Person, Patrick Quigley, stated: “We continue to be encouraged by the extent of mineralized breccia and the intensity of alteration encountered in recent drilling. Hole 15 was drilled on the northern edge of a package of strongly altered and deformed volcaniclastic rocks that are interpreted to represent the top of the Brewer volcanic sequence and historically have only been tested by shallow condemnation drilling. The mineralized interval in hole 15 supports the idea that these volcanic sediments overlie the breccia(s) that host the Brewer ore body and highlights the potential for significant gold mineralization to be discovered outside of the former Brewer mine.”

Pancon President and CEO, Layton Croft, added: “These new drill results suggest we may have discovered a new zone of gold-copper mineralization separate from the former Brewer mine. If true, this is significant and opens up a new priority target zone at least 150 meters south of the former mine. Ever since gold was first mined at Brewer in the 1800s, until now, the focus was always on the single mineralized breccia ore body exposed on the Brewer property. Pancon’s step-out drilling and analysis, demonstrates the potential for more than one, and possibly multiple, mineralized breccias bodies. As Patrick and his technical team continues updating our Brewer Geologic & Discovery Model (see October 18, 2021 news release), we are constantly improving our knowledge and enhancing our targets for the next round of drilling (see Figure 2).”

Table 1: Gold Assay and Multielement Geochemistry Results for Diamond Holes 13, 14 and 15

(click here for Certificates of Analysis and complete results)

Hole ID

Hole Size

From (m)

To (m)

Interval (m)

Composite Length (m)*

Au (g/t)

Cu (%)

B21C-013

HQ

51.15

93.50

42.35

37.80

0.42

<0.10

Incl.

71.50

78.50

7.00

7.00

0.60

0.23

B21C-014

HQ

22.90

27.95

5.05

5.05

0.46

<0.10

B21C-014B

HQ

56.90

162.00

105.10

94.60

0.31

<0.10

B21C-015

HQ

4.00

23.00

19.00

19.00

0.31

<0.10

 

44.60

107.00

62.40

61.42

1.03

0.15

Incl.**

Incl.**

76.50

81.60

97.70

90.00

21.20

8.60

21.20

8.60

2.23

3.32

0.36

0.65

 

See Quality Assurance and Quality Control Statement below regarding assaying techniques. Intervals are core lengths and are not presumed to be true thicknesses.
*composite length represents the total length of samples used to create a grade composite and may not match the interval length as a result of no core recovery due to bad ground conditions. These no recovery zones were treated as null values for compositing purposes.
** results previously reported, see September 8, 2021 news release

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Figure 1: Select Phase 1 and 2 Diamond Drill Hole Locations and Results

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Figure 2 shows a west-looking north-south cross section located 50 meters east of the main north-south line of earlier sonic and diamond drill holes, namely diamond drill Holes 4, 5, 8,9, and 11. The cross section in Figure 2 shows diamond drill Holes 2, 10 and 15. There is approximately 600 meters of distance between Hole 2 to the north and Hole 15 to the south. These three holes show noteworthy gold and copper mineralization at comparable depths in all cases, all less than 100 meters below surface.

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Figure 2: North-South Vertical Section, Looking West

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Qualified Person
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.

Quality Assurance and Quality Control Statement, Notes and Assumptions
Phase 2 exploration diamond core drilling was HQ and NQ size. The core was logged and marked for sampling and assaying by geologists contracted by Pancon. Samples, typically 1.5 meters in length, were sawn in half using a diamond core saw and one-half of the core was placed in sample bags and tagged with unique sample numbers, while the remaining half was kept in the core box for storage. Each bagged core sample was shipped to SGS Labs in Ontario, Canada, where it was dried, crushed and pulverized to >80% passing -200 mesh.

Gold was analyzed by fire assay (30 g) with an AAS (atomic absorption) finish, with a lower detection limit of 0.005 g/t gold. Samples containing greater than 10.0 g/t gold were analyzed by fire assay with a gravimetric finish. Multielement analyses, including base metals and rare earth elements, were analyzed with ICP-MS/ICP-AES (inductively coupled argon plasma mass spectrometry/atomic emission spectroscopy). Strict sampling and QA/QC protocols are followed, and assay integrity is monitored internally with a quality control program including the insertion of standards, blanks and duplicates in the sample stream on a regular basis.

About Pancon
Pancontinental Resources Corp. ([nxtlink id="269394"]TSXV: PUC[/nxtlink]) (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 101,600 ounces of gold in the first half of 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 (Schmidt, R.G., 1978, The Potential for Porphyry Copper-Molybdenum Deposits in the Eastern United States, U.S. Geological Survey).

For further information, please contact:
Jeanny So, External Relations Manager
E: [email protected]
T: +1.647.202.0994

For additional information please visit our new website at http://www.panconresources.com/ and our Twitter feed: @PanconResources.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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