Pancon Secures Right to Extend Brewer Option Period Through 2030
Pancon Secures Right to Extend Brewer Option Period Through 2030
Toronto, Ontario--(Newsfile Corp. - July 12, 2022) - Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) ("Pancon" or the "Company") has agreed with the Brewer Gold Receiver (Receiver) on a mechanism to extend the term of the Brewer Option Agreement through December 31, 2030.
安大略省多倫多-(Newsfile Corp.-2022年7月12日)-泛大陸資源公司(多倫多證券交易所股票代碼:PUC)(場外交易市場代碼:PUCCF)(以下簡稱“Pancon”或“公司”)已與Breaker Gold Receiver(以下簡稱“Receiver”)就一項機制達成協議,將布魯爾期權協議的期限延長至2030年12月31日。
Pancon President & CEO Layton Croft stated: "We thank the Receiver, South Carolina's Department of Health and Environmental Control (SC DHEC), and the U.S. Environmental Protection Agency (EPA) for continuing to support Pancon, and for reaffirming their belief in our ability to responsibly and successfully explore the Brewer Gold & Copper Project. We now have the opportunity to spend nearly 8 and a half more years to systematically build on our substantial progress to date. We are more confident than ever in our refreshed Brewer Discovery Model, which demonstrates that a significant zone of unoxidized gold-copper mineralization exists beneath the former pit, and that higher grade zones are associated with increased sulphide abundance focused within and along the diatreme margin. When we resume drilling, in addition to targeting these high grade feeder structures, we will target an additional breccia target to the south-southwest of the former mine, hosted within a NE-SW trending zone of favorably altered rocks."
Pancon首席執行官總裁和首席執行官Layton Croft表示:“我們感謝接收方、南卡羅來納州衞生與環境控制部(SC DHEC)和美國環境保護局(EPA)繼續支持Pancon,並重申他們對我們有能力負責任地成功勘探布魯爾金銅項目的信心。我們現在有機會再花近8年半的時間,在我們迄今取得的實質性進展的基礎上有系統地發展。我們比以往任何時候都更加相信我們的更新的布魯爾發現模型,該模型表明,在以前的礦坑之下存在一個重要的未氧化金銅礦化帶,而較高品位的礦化帶與集中在閃長巖邊緣內和沿線的硫化物丰度增加有關。當我們恢復鑽探時,除了瞄準這些高品位給礦結構外,我們還將瞄準前礦西南偏南方向的另一個角礫巖目標,該目標位於東北-西南方向的有利蝕變巖石帶內。“
Court-appointed Receiver Kelly Lowry stated: "It is my responsibility to oversee the Brewer Gold property, including Pancon's activity, and to coordinate with SC DHEC and EPA, the two regulatory agencies currently responsible for remediation of the site. We recognize that responsible and successful minerals exploration requires adequate time. Pancon's professional and collaborative performance to date easily justifies extending the Brewer Option Period through 2030, provided Pancon meets its financial obligations. We all want Pancon to succeed at Brewer, as long as the Company continues to perform as it has so far and in conformance with all applicable laws, regulations and agreements."
法院指定的接管人凱利·洛瑞表示:“我有責任監督布魯爾黃金項目,包括Pancon的活動,並與目前負責修復該地點的兩個監管機構SC DHEC和EPA進行協調。我們認識到,負責任和成功的礦產勘探需要充足的時間。Pancon迄今的專業和合作表現很容易證明將布魯爾期權期限延長至2030年是合理的,前提是Pancon履行其財務義務。我們都希望Pancon在布魯爾取得成功,只要公司繼續像目前為止那樣運作,並遵守所有適用的法律、法規和協議。”
Pancon's exclusive Option to explore and purchase Brewer currently runs through December 31, 2024 on a no-cost basis. According to the July 11, 2022 Amendment to the Brewer Option Agreement, the Company agrees to pay up to US$1.4 million per year to extend the Option Period for each of 2025, 2026 and 2027 in order to cover the government's ongoing site management costs. To extend the Option Period through 2028, the Company must demonstrate it has spent at least US$9 million on exploration activities at Brewer since April 1, 2020, when the Option Period began, and pay up to US$1.5 million for the year. To extend the Option Period through each of 2029 and 2030, the Company must demonstrate it spent at least US$1.5 million on exploration activities at Brewer the previous calendar year, and also pay up to US$1.5 million per year.
Pancon勘探和收購Breyer的獨家選擇權目前免費持續到2024年12月31日。根據布魯爾期權協議2022年7月11日修正案,公司同意每年支付高達140萬美元,以延長2025年、2026年和2027年的期權期限,以彌補政府持續的場地管理成本。要將期權期限延長至2028年,公司必須證明,自2020年4月1日期權期限開始以來,它已在布魯爾的勘探活動上花費了至少900萬美元,並支付了高達150萬美元的年度費用。要將期權期限延長至2029年和2030年,該公司必須證明其在上一歷年在布魯爾的勘探活動上至少花費了150萬美元,並每年支付高達150萬美元。
Since Pancon began exploring the 1,000-acre Brewer property in May 2020, seven of the Company's 17 diamond drill holes returned significant gold-copper mineralization (see the "7 Great Holes in 7 Minutes" video here). Pancon's data-driven approach to exploring Brewer has also included: historic data review; mapping; geophysical surveys; rotary air blast (RAB), sonic, and core drilling; assay, multielement geochemical, spectral, and petrographic analyses; and ongoing data compilation and modeling. This work included drilling and reporting lab results for more than 9,000 meters (m) of drill samples: core (5,000 m), RAB (3,900 m), and sonic (350 m). As a result of work to date, Pancon has updated its data driven Discovery Model that identifies the most prospective parts of the Brewer gold-copper system. Next steps include data analysis and interpretation of nearly-completed dipole-dipole induced polarization (IP) geophysical survey, followed by aggressive drilling.
自Pancon於2020年5月開始勘探佔地1,000英畝的Breyer礦藏以來,該公司17個鑽石鑽孔中有7個返回了顯著的金銅礦化(請參閲此處的“7分鐘內7個大洞”視頻)。Pancon以數據為導向的方法還包括:歷史數據審查;繪圖;地球物理調查;旋轉空氣爆破(RAB)、聲波和巖心鑽探;分析、多元素地球化學、光譜分析和巖石學分析;以及持續的數據彙編和建模。這項工作包括鑽探和報告超過9,000米(米)的鑽探樣品的實驗室結果:巖心(5,000米)、RAB(3,900米)和聲波(350米)。作為迄今工作的結果,Pancon更新了其數據驅動發現模型,該模型確定了布魯爾黃金-銅系統中最有前景的部分。下一步包括對即將完成的偶極-偶極激發極化(IP)地球物理測量進行數據分析和解釋,然後進行積極鑽探。
In addition, further to the Company's press releases of April 19, 2022 and May 13, 2022, the Company completed a "best efforts" brokered private placement (the "Offering") through the issuance of 20,265,000 units (the "Units") in the capital of the Company at a price of $0.08 per Unit for gross proceeds of $1,621,200. Insiders of the Company subscribed for an aggregate of 1,400,000 Units pursuant to the Offering.
此外,繼本公司於2022年4月19日及2022年5月13日發佈新聞稿後,本公司完成了一項“盡最大努力”安排的私募(供奉“)發行20,265,000個單位(”單位“)以每單位0.08美元的價格購入本公司的股本,總收益為1,621,200美元。本公司的內部人士根據是次發售認購合共1,400,000個單位。
Qualified Person
有資格的人
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.
本新聞稿中的技術信息是根據NI 43-101中規定的加拿大法規要求準備的,並由CPG-12116碩士帕特里克·奎格利(Patrick Quigley)審查和批准,他是NI 43-101定義的合格人員。
About Pancon
關於Pancon
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, 1,919-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 (). 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).
泛大陸資源公司(多倫多證券交易所股票代碼:PUC)(OTCQB:PUCCF)或Pancon是一家加拿大初級礦業公司,正在勘探美國東南部富饒、未被勘探的卡羅萊納板巖帶。2020年1月,Pancon贏得了前布魯爾金礦物業的獨家勘探和購買權,選擇權期限至2023年10月。1987-1995年間,布魯爾從65米深的露天礦坑中生產了17.8萬盎司的氧化金,金(金)和銅(銅)硫化物在那裏暴露出來,但無法通過氧化物堆浸作業進行處理。Pancon擁有100%股權,佔地1,919英畝的Jefferson Gold Project幾乎完全包圍了佔地1,000英畝的Breyer地產。位於南卡羅來納州切斯特菲爾德縣的布魯爾-傑斐遜感興趣地區,距離正在生產的海爾金礦12公里,該金礦在2021年生產了19萬盎司黃金()。布魯爾是一個大型、淺成熱液、高硫化的金銅系統,由次火山侵入巖驅動,可能與深部的大型銅金斑巖系統有關(Schmidt,R.G.,1978,《美國東部斑巖銅鉬礦牀的潛力》,美國地質調查局)。
For further information, please contact:
如需更多信息,請聯繫:
Jeanny So, External Relations Manager
E: info@panconresources.com
T: +1.647.202.0994
蘇珍妮,對外關係經理
電子郵箱:Info@panconresource ces.com
T: +1.647.202.0994
For additional information please visit our new website at and our Twitter feed: @PanconResources.
欲瞭解更多信息,請訪問我們的新網站和我們的Twitter訂閲:@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.
多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
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 . 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.
本新聞稿包含不包含歷史事實的前瞻性信息。前瞻性信息的特點是“計劃”、“預期”、“項目”、“打算”、“相信”、“預期”、“估計”等類似詞語,或某些事件或條件“可能”或“將”發生的陳述。前瞻性信息涉及風險、不確定性和其他因素,可能導致實際事件、結果和機會與此類前瞻性信息明示或暗示的情況大不相同。可能導致實際結果與這些前瞻性信息大不相同的因素包括,但不限於,股票和債務市場狀況的變化,大宗商品價格的波動,在獲得所需的監管或政府批准方面的延誤,以及礦產勘探和開發行業涉及的其他風險,包括公司在公司簡介中提交的公司管理層討論和分析中列出的風險。本新聞稿中的前瞻性信息是基於截至本新聞稿發佈之日管理層認為合理的意見和假設,包括所有必要的政府和監管部門的批准將在預期的時間內得到。儘管本公司認為在準備本新聞稿中的前瞻性信息時使用的假設和因素是合理的,但不應過度依賴這些信息。除適用的證券法要求外,公司沒有任何更新或修改任何前瞻性信息的意圖或義務。
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要查看本新聞稿的源版本,請訪問
譯文內容由第三人軟體翻譯。