Pancontinental Resources Corporation (TSXV:PUC) has released its PUC Monthly Report, which updates its shareholders on the company’s activities as well as trends in the battery sector.
Pancontinental Resources Corporation (TSXV:PUC) has released its PUC Monthly Report, which updates its shareholders on the company’s activities as well as trends in the battery sector. The June edition provided an overview of the latest industry, supply and demand, electric vehicle (EV) and renewable energy news. The report also covered the company’s exploration activities to date on the Montcalm project in Ontario and highlighted its Jefferson gold project in South Carolina.
Pancontinental completed its first drill program on the Montcalm nickel-copper-cobalt project in March 2019. The purpose of the maiden drill program was to test airborne VTEM geophysical anomalies that were outlined in 2018. The company has completed 10 diamond drill holes for a total of 4,300 meters of drill core. Drilling was able to establish a new zone of mineralization that requires follow up exploration.
“The mineralized intervals did not return anomalous nickel-copper-cobalt assay results. Further evaluation of the data identified a complex magnetic feature, hosting a cluster of electromagnetic anomalies we are calling the Hook zone. We are now conducting induced polarization (IP) and geophysical reinterpretation on the Hook zone in anticipation of follow up drilling,” said Pancontinental CEO Layton Croft.
As for the company’s Jefferson gold project, it is located in Chesterfield County, South Carolina in the Carolina gold belt. The project is adjacent to the past-producing Brewer gold mine, which produced 178,000 ounces of gold between 1985 and 1991, and is 15 kilometers uptrend from OceanaGold Corp.’s (TSX:OGC) producing Haile gold mine. Pancontinental believes that the pathway conduits of mineralization found on the property mimic the mineralization found at Haile during its initial exploration discoveries.
To view the full report, click here.