Overview

The Montcalm West project is a camp-sized land position with three properties covering 11,600 ha in the Porcupine Mining Division, 65 km west of Timmins.

  • Montcalm Property: contiguous with Glencore’s former Montcalm mine property, boundary ~1km west of the mined deposits
    • Former Montcalm Mine comprised of 3 separate lenses (deposits), with a total 3.9mt tonnes of ore mined, grading 1.25% Ni, 0.67% Cu, 0.051% Co (~4mlbs of Co), prior to premature closure due to a ground fall (Ontario Geological Survey, Atkinson, 2011).
  • Gambler Property: covers 6,980 ha encompassing substantial part of the Montcalm Gabbro complex
    • Gabbro complex is highly prospective for Ni-Co-Cu deposits
    • Manitoba’s Lynn Lake Ni-Cu-CO mines (Sherritt) an excellent analogue for the Montcalm Gabbro Complex.
  • Nova Property: potential to be a Cobalt pure-play
    • 19 km southwest of the Montcalm mine
    • Limited surface sampling by Teck geologist in 1991 returned high-grade sample containing 3,230ppm or ~6.5lbs per tonne Co.

Pancontinental entered into an option agreement effective January 10, 2018 with 2522962 Ontario Incorporated, to acquire a 100% interest in the Montcalm and Nova Properties.Following the option agreement, Pancon also acquired 100% of the Gambler property, adjacent to the Montcalm property encompassing most of the Montcalm Gabbro complex.

The Montcalm Property is contiguous and surrounds the western portion of the former Montcalm Mine, which previously mined 3,931,610 tonnes of ore grading 1.25% nickel (Ni), 0.67% copper (Cu), and 0.051% cobalt (Co), and which mined in excess of 4 million pounds of Cobalt (Ontario Geological Survey, Atkinson, 2011). The Nova Property is located approximately 19 kilometers southwest of the mine. The Montcalm Property consists of 16 contiguous mining claims (3,312 hectares) and the Nova Property is made up of 4 contiguous mining claims (672 hectares).

Montcalm Property:

  • Montcalm West Project covers 3,984 hectares. The property is contiguous and surrounds the western portion of the former producing Ni-Cu-Co Montcalm Mine. The gabbro-hosted Montcalm Mine and the surrounding Montcalm Gabbro Complex host geology which bears a distinct geological resemblance to other known gabbro-hosted Ni-Cu-Co deposits and former mines in Canada. This suggests excellent potential for new discoveries.
  • The current Pancon's boundary is approximately 1 kilometre west of the former Montcalm Mine. On Pancon's land holdings, historical drilling intersected zones of anomalous nickel and copper mineralization. Previous owners left numerous near-surface, high priority, untested geophysical electromagnetic conductors.

Nova Property:

  • The main highlight of the Nova Property is the presence of numerous highly anomalous historical cobalt samples associated with sulphide mineralization in surface outcrops. Of particular interest is a historical occurrence which returned 6.46 pounds of cobalt per tonne (3,230 ppm Co) in a single surface rock sample taken by a Teck Corporation geologist in 1991. This sample is a selected sample and it not necessarily representative of the mineralization hosted on the property.
  • Past operators on this property also detected substantial sulphide mineralization in surface trenches and limited drilling of geophysical targets. There is no record of sampling of the sulphide occurrences for nickel, copper or cobalt in drill holes.
  • Government airborne geophysical surveys have outlined numerous untested electromagnetic anomalies in association with strong magnetic responses across the property. These targets require further evaluation for their cobalt-nickel-copper potential, as they represent excellent targets in proximity to surface cobalt mineralization.

Gambler Property:

  • Highly prospective for Ni-Co-Cu deposits
  • 6,980 ha covering significant portion of Montcalm Gabro Complex
  • Similar geology to Montcalm Property
  • Highly prospective for target development