Resource World Magazine

58 www.resourceworld.com F E B R U A R Y / M A R C H 2 0 1 9 PANCONTINENTAL focuses on ethical, clean energy metals by Jennifer S. Getsinger, PhD, PGeo PANCONTINENTAL RESOURCES CORP. [PUC-TSXV], formerly Pancontinental Gold, is a Canadian mineral exploration company now "exploring for clean energy" by concentrating on strategic nickel-cobalt-copper projects in Ontario. Resource World inter- viewed Layton Croft in December 2018, President and CEO of Pancontinental ("Pancon" for short). Croft said that "a low-carbon energy economy won't work without mining" – whether solar or electrical energy, metals and materials used in collecting and storing of alternative energy resources have to be mined. Recent media buzz about electrical vehicle batteries stresses the need for ethical cobalt sources in favourable mining jurisdic - tions. Both lithium and cobalt are used in the latest mobile phones and electric car batteries, and more supplies are required in this booming field. A laptop computer might contain an ounce (some 30 g) of cobalt, whereas an electric car battery contains some 30 lbs. Even if less cobalt is used, more nickel will be required and copper is always essential. One issue with cobalt is that most of the world's cobalt (some 70%) is mined under problematic conditions in African countries. Finding a reasonable nickel-cobalt source in a good jurisdiction like Canada would be ideal. Like other junior explorers, Pancon has evolved through a long history of trying to find the perfect mining scenario, ranging from promoting good deposits in international places with difficult political situations, to exploring for commodities that have changed price, to properties close to home with excellent potential but ham - pered by local unpopularity, and so on. For example, Pancon's relatively advanced McBride Project in the Bancroft uranium region about halfway between Toronto and Ottawa, hosting some 5 million tons of historic resources in two ore zones (the North with 3.9 million tons grading 0.82% nickel, 0.054% cobalt, and 0.25% copper, and the South with 1.2 million tons grading 0.30% nickel, 0.03% cobalt, and 0.14% copper), is conveniently near infrastructure in southern Ontario. However, it might be too close to cottage country to get permitted easily in the face of social opposition, despite its known potential resources. This is why the Pancon's land position of nearly 16,000 hect - ares around Glencore's former nickel-cobalt-copper Montcalm Mine near Timmins, northern Ontario, is so attractive. As a traditional mining district, it is a more favourable jurisdiction than southern Ontario. Pancon maintains four projects across the Montcalm Greenstone Belt: Montcalm, Gambler, Nova and Strachan, together making up their number one priority. In the interview, Croft said that it was better to have a nickel- focused cobalt play than a silver-cobalt prospect, as nickel demand in the new energy economy is poised for long-term growth. Long-term expertise is provided by Project Advisor at Montcalm, Kevin Filo, PGeo, who has lived in Timmins for 30 years and is familiar with its mining history. They already have a MOU with local First Nations. Around the old producing Montcalm Mine, Pancon's Montcalm and Gambler Ni-Co-Cu properties are contiguous and cover simi - lar geological areas underlain by gabbro, which was known to host the sulphide-bearing ore bodies at Montcalm. Before clos- ing in 2011, Glencore mined 3.9 million tonnes at 1.24% nickel, 0.051% cobalt, and 0.67% copper (about 4 million lbs cobalt). Pancon believes there is more ore to be mined. Nearby, but with different geology, the Nova Project was tar- geted due to geophysical indicators and previous geochemical work done by Teck in 1991, when Kevin Filo worked on the pros- pect, with values in gold as well as cobalt, copper, and zinc. In 2019, the primary activity for Pancon will be continuing its field exploration at Montcalm. Having done geophysical surveys such as airborne gravity and VTEM, with additional specific IP studies, in early January 2019 they began a 4,500-metre drill pro - gram with 11 targets identified so far. Pancon also retains its stake in the Jefferson Gold Project abut- ting the now-closed Brewer gold mine in the Carolina slate belt; where 12 million tonnes of gold ore was mined from 1987 to 1995. The company expects that sooner or later any lingering environ- mental issues there would be outweighed by a state economy that craves jobs and the eventual return of a robust gold market. The Jefferson Gold Project, not far from the Pancontinental Resources North Carolina office, is about a 20-minute drive along strike from the Oceana Gold's producing Haile Gold Mine, visited by this Resource World writer in 2018 (see August/September 2018 issue). n Kevin Filo, P.Geo., Project Advisor, left, and Todd Keast, P.Geo., Project Manager, Consulting Geologist, examine diamond drill core from the Montcalm Project near Timmins, northern Ontario. Photo courtesy Pancontinental Resources Corp. MINING

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