Overview

Highlights:

The Jefferson Gold Project is strategically located in Chesterfield County, South Carolina, in the prospective Carolina Slate Belt and on the northeastern edge of two former gold mines (Brewer and Ridgeway gold mines) and 15 km from OceanaGold’s producing Haile mine.

The project currently includes approximately 644 hectares under lease from private landowners who own the surface or sub-surface mineral rights.

The Carolina Slate Belt is a gold-rich strip that runs from Virginia, south through both North and South Carolina and ends up in Georgia.

Although most people knew of gold in the US as a result of the California Gold rush, the first gold discovery in the United States was in North Carolina within the Carolina Slate Belt in 1799 and most of the experienced gold miners who moved to California, during the California Gold rush had honed their skills mining areas along the Carolina Slate belt.

  • Strategically located in the Carolina Slate Belt, the Jefferson Gold Project is on the northeastern edge of two former gold mines - Brewer and Ridgeway gold mines and 15 km from OceanaGold's producing Haile mine. 
  • The former Brewer gold mine produced 187k oz Au from 1985-93 and has been an EPA Superfund site controlled by the federal and state governments for 25 years
    • The government plans to put Brewer back into private hands in 2019
    • Jefferson Gold Project surrounds Brewer
  • Haile Gold Mine, first discovered in 1827 and currently owned and operated by OceanaGold (TSX: OCG), is an open pit operation with a multi-million ounce resource and the potential for an expansion phase to an underground mine
    • OceanaGold bought Haile from Romarco Minerals in 1996 for US$600 million, and then spent another $380 million to build the mine which began producing in 2018
  • The former Ridgeway gold mine, located 35 miles south-southwest of the Jefferson Gold Project, was a 15,000-tonnes per day open pit operated by Kennecott Minerals from 1988-1999
  • Pathway conduits of mineralization discovered at Jefferson mimic the same initial exploration successes at Haile
  • In 2011, previous Jefferson Project operators drilled four holes, all encountering gold mineralization, including 83.5m at 1.71g/t
  • In 2017, Pancon drilled six holes at the property, in which five intersected anomalous mineralization, with the two best being:
    • JEF-108 which intersected 22.9 metres averaging 1.3 grams per tonne, including 8.5 metres of 1.8 grams per tonne (from depth of 100.6 meters to 123.4 meters); and,
    • JEF-109 which intersected 12.2 metres of 1.55 grams per tonne (from depth of 79.2 metres to 91.4 metres).