The Brewer Project, on the gold-rich Carolina Slate Belt in South Carolina, is where the former shallow Brewer Gold Mine produced 178,000 ounces of oxide gold between 1987-1995, and is located 12 kilometers along trend from the producing Haile Gold Mine.
In terms of the highest copper values in Holes 4 and 5, identical thickness and comparable values located 110 meters apart suggest a potential copper-rich horizon less than 200 meters below surface and beneath the former Brewer gold mine.
Figure 1 shows gold and copper results for Holes 4 and 5, with a focus on showing how the copper correlates with the gold results previously reported in Pancon’s news release of March 2, 2021.
Pancon commenced Phase 2 drilling on April 6, 2021 , and to date has completed four new vertical sonic drill holes through the backfill material in the former mined pits, for a total of 246 large sonic samples over 222 meters.
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.
Gold was analyzed by fire assay .
as detailed in Pancon’s March 2, 2021 news release, has been revised for further clarity to include one new sentence: “For further clarity, Pancon will retain the 1% NSR buyback right from 2681891 Ontario Inc.
More specifically, Red Cloud will provide services such as organizing and administering road shows, drafting additional marketing materials, managing the Company’s social media, providing traditional media support and assistance in the creation of video content for exclusive use on Red Cloud TV, and other services as required by the Company.
Between 1987-1995, Brewer produced 178,000 ounces of oxide gold from open pits that extended to 65-meter depths, where copper and gold-rich sulphides were exposed but could not be processed by the oxide heap leach processing facility .
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.