As of October 1, 2021, Pancon has drilled more than 9,000 meters of: diamond core, rotary air blast (RAB), and sonic drill hole samples, and has funding for another 3,000+ meters of diamond core drilling at Brewer. Drill results to date have been very encouraging for realizing value from Brewer’s 3 value drivers:
- Quickly remediate the waste and monetize the gold contained in the reclaimed former mined pits.
- Define a maiden gold-copper resource below the former mine and move quickly to development.
- Use Pancon’s Geologic Model of the Brewer-Jefferson system to discover a large copper-gold porphyry deposit.
Pancon takes a data-driven approach to exploration, using historic and new geological, geochemical, mineralogical and geophysical data to target, discover and define new gold-copper mineralization. To date Pancon has released results for 12.5 diamond core, 94 RAB, and 6 sonic drill holes at Brewer, and has reported results for a total 3,943 meters of core from its maiden diamond drill program. True widths are not yet known.
Grade x Thickness (GT) values are a common way to measure the significance and future potential of early-stage drill programs. By taking core lengths multiplied by the gold + copper (gold equivalent, AuEq), grades, one can calculate GT values in terms of gram-meters. Paradigm Capital, a research-driven, independent, institutional equity investment dealer based in Toronto (www.paradigmcap.com), characterizes:
“Good” drill results: 15-50 GT
“Very good” drill results: 50-100 GT
“Exceptional” drill results: anything above 100 GT
Select results from <4,000 meters of Pancon’s initial diamond core drilling in 12.5 holes at Brewer include:
Hole 4: 105 GT Au and 137 GT AuEq over 115 meters – “exceptional” as per Paradigm Capital
Hole 5: 225 GT Au and 303 GT AuEq over 181 meters – “exceptional”
Hole 8: 114 GT Au and 158 GT AuEq over 106 meters – “exceptional”
Hole 15: 45 GT Au and 57 GT over 20 meters – “good/very good”
Hole 4: 115.6m of 0.91 g/t Au, 0.17% Cu and 1.19 g/t AuEq, including 15.5m of 2.35 g/t Au, 0.46% Cu and 3.1 g/t AuEq*
Hole 5: 181.6m of 1.24 g/t Au, 0.27% Cu and 1.67 g/t AuEq, including 24.2m of 4.26 g/t Au, 0.42% Cu and 4.94 g/t AuEq*
Hole 8: 106.5 m of 1.07 g/t Au, 0.26% Cu and 1.49 g/t AuEq, including 45.23 m of 2.03 g/t Au, 0.52% Cu and 2.7 g/t AuEq*
Hole 9: 15.95 m of 1.09 g/t Au, 0.22% Cu and 1.44 g/t AuEq*
Hole 10: 11.90 m of 2.22 g/t Au, 0.07% Cu and 2.33 g/t AuEq*
Hole 15: 20.2m of 2.25 g/t Au, 0.35% Cu and 2.82 g/t AuEq, including 8.5m of 3.32 g/t Au, 0.65% Cu and 4.38 g/t AuEq*
* For details on Pancon’s gold equivalent (AuEq) calculations, please see Pancon’s news releases dated April 27, 2021 (for holes 4 & 5), July 26, 2021 (for holes 8, 9 & 10), August 31, 2021 (for holes 11 & 12) and September 8, 2021 (for hole 15).
