This second phase of drilling mainly focused on areas of the Property with no historic drilling data. Targets were generally identified using 2023 geochemical surface sampling results and UAV detailed magnetic survey results at the Project, with prospective areas extending along strike and down dip of previously identified mineralization also being a target of the Phase Two program. Assay results are expected to be received in the coming weeks.
Phase Two Drill Program Details:
- Two drill holes totaling 369 meters tested the down dip extension of the Big Mack Pegmatite.
- Fourteen drill holes totaling 1897 meters tested the 6059/
Sprinkler Zone and surrounding area, including identified magnetic low extensions of these pegmatites, as well as targets proximal to surface samples with elevated LCT pegmatite indicator elements. - Eight exploratory drill holes totaling 1328.5 meters tested along strike to the east and the west of the
Big Mack and Eleven Zone pegmatites where elevated surface geochemical signatures were identified with coincident magnetic lows. - A 126 meter drill hole tested the down dip extension of the
Eleven Zone surface expression and previous drilling intercepts. - Jason Latkowcer, Chief Executive Officer, commented, “We are extremely pleased to have completed the Second Phase of the Big Mack Drilling Program. We would like to thank our contractors and technical team for the safe and efficient execution of this campaign. The data collected from this program will serve as a solid foundation for the next step in the development of the Property. We eagerly await the final assay results and look forward to providing further updates.”
Following the completion of drilling, the Company will use the results of the Phase 1 and Phase 2 drill program to develop a Mineral Resource Estimate (“MRE”) which is expected to be announced Q2-2024. The Company recently announced a partnership with the
Figure 1: 2023-2024 Phase One and Two completed drill holes on the Property.
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About the Property
The Property is located 2 km east of all-weather
The Property hosts four known Li-bearing pegmatites including the Big Mack pegmatite,
About
The Company executed an option agreement in
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On Behalf of the Board of Directors
Jason Latkowcer
CEO & Director
Contact
Phone : (587) 885-5970
Email: info@panam-energy.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the aim and objectives of the Company’s exploration efforts, including that the data generated from the Phase Two drilling program will be useful in further developing the Property.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the utility of the information generated from the Phase Two drilling program.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that exploration at the Project does not proceed in the manner currently contemplated, or at all; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, the risk that mineral exploration is inherently uncertain and the risk that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project or support the further exploration of a project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; and that mineral exploration activities are often unsuccessful. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fb786286-4081-44c2-840f-c7a63b0dc123
Figure 1
2023-2024 Phase One and Two completed drill holes on the Property
2024 GlobeNewswire, Inc., source