Pancontinental Resources Corp.
The Brewer Gold Project
Pancontinental Resources Corporation (Pancon), in cooperation with Environmental Risk Transfer LLC (ERT), has the exclusive right to explore and potentially own the best gold target in the eastern USA: the former Brewer Gold Mine.
Key Characteristics
• Brewer (~1,000 acres) is surrounded by Pancon’s 100%-owned Jefferson Gold Project (~2,000 acres).
• Brewer is a sub-volcanic high sulphidation gold-copper system located in a proven and safe pro-mining jurisdiction.
• Brewer is 12 kilometers northeast along trend from the producing Haile Gold Mine on the gold-rich and underexplored Carolina Slate Belt in South Carolina.
• Gold was first discovered at Brewer in the early 1800s, same as at Haile. Drilling at Brewer in the 1970s returned 64.3m of 3.3 g/t Au and 0.5% Cu from 30.8-95.1m depths.
• Between 1987-1995, Brewer produced 178,000 ounces of oxide gold from open pits that extended to 100-meter depths.
• Attractive sulphide copper-gold mineralization was encountered, but not further explored or mined, as shallow as 30-50 meters below surface.
• Brewer’s prospective geology, including diatreme breccias, associated high sulphidation alteration, gold and copper mineralization and geophysics, all support a possible porphyry-style copper-gold system at depth.
• Brewer is a close analogue with the Timok copper-gold project in Serbia, which has a higher grade upper zone (with 0.89mt of 3.3%Cu and 1.8moz of 2.1g/tAu) and a lower grade low zone (with 31.5blb of 0.86%Cu and 9.6moz of 0.18g/tAu) 2.
Rediscovering Brewer
• Brewer has not been explored since 1997. In 1999, the Brewer Gold Company, a U.K. entity, abandoned the site, leaving the South Carolina Department of Health and Environmental Control (SC DHEC) and the U.S. Environmental Protection Agency (US EPA) to handle reclamation activities and address conditions posing environmental risk.
• In 2005, Brewer was designated a US EPA Superfund site as per the Comprehensive Environmental Response, Compensations and Liability Act (CERCLA).
• In 2019, a South Carolina court appointed the Brewer Gold Receiver LLC, a legal construct similar to a trustee, to facilitate the leasing, sale or other use or disposition of Brewer, including potential renewal of mineral exploration and mining.
• The Receiver, representing the SC DHEC and US EPA, facilitated a competitive selection process from March-December 2019, and in January 2020 informed Pancon that it had won.
• In February 2020, Pancon will execute the Brewer Lease and Option to Purchase Agreement with the Receiver.
De-Risking Brewer
• Pancon has de-risked the project from the environmental side by partnering with ERT www.environmentalrisktransfer.com).
• The Waterfield Group and Environmental Operations, Inc. created ERT to provide complex environmental risk-transfer solutions to corporations that wish to cost-effectively eliminate all environmental liability.
• ERT identifies and assumes environmental risk, typically through acquiring the contaminated real estate and providing the Seller with a collateralized indemnity.
• ERT offers risk assumption services to Fortune 500 corporations, real estate developers, municipalities, county governments, general contractors, and other industries.
• ERT’s affiliates also provide environmental consulting and contracting services, as well as regulatory compliance, demolition, waste management, and industrial hygiene engineering.
Brewer Project Team
Pancon’s technical team has unrivaled local geological expertise and exploration success, including:
• discovering Brewer’s oxide gold deposit in 1983.
• discovering the Buzzard project (a high-grade gold extension of Brewer) in 1997.
• other discoveries in North America and globally, including the Brewer-analogue sub-volcanic high sulphidation
gold-copper mine in Indonesia (Tujuh Bukit – 28.1mozAu and 3btCu).
Source: https://panconresources.com/projects/brewer-gold-mine-property/
|