- Pancontinental Resources Corp. (PUC) has signed an exploration lease and purchase option for the New Sawyer gold mine property
- Located in Randolph County, North Carolina, the privately owned property contains both surface and mineral rights over 2.4 square kilometres
- The historic New Sawyer Gold Mine includes 12 identified vertical shafts. The property lies within the Sawyer-Keystone Gold Trend, an alignment of volcanic-hosted, Haile-type alteration and historic gold mines
- Pancontinental Resources Corp. (PUC) is trading at $0.025 per share
Pancontinental Resources Corp. (PUC) has signed an exploration lease and purchase option for the New Sawyer gold mine property.
Located in Randolph County, North Carolina, the privately owned property contains surface and mineral rights over 2.4 square kilometres. The historic New Sawyer Gold Mine includes 12 identified vertical shafts. The property lies within the Sawyer-Keystone Gold Trend, an alignment of volcanic-hosted, Haile-type alteration and historic gold mines.
Records indicate the mine was in production in 1902, and gold was produced from multiple zones hosted in a large zone of Haile-type sericite-pyrite-clay alteration. Since the 1980s, the property has since been explored by three companies. In 2020, Carolina Mining Co. compiled historic data and re-excavated portions of two historic trenches, confirming historic results:
- Trench NS-1: 30.0 metres @ 1.6 g/t Au, from 0 – 30 metres
- Including 16.0 metres @ 2.2 g/t Au, from 12-28 metres
- Trench NS-2: 30.0 metres @ 1.0 g/t Au, from 0 – 30 metres
- Including 10.0 metres @ 2.1 g/t Au, from 20 – 30 metres
Pancon’s Technical Advisor, Keith Laskowski, QP, explained that the Carolina Terrane hosts hundreds of historic gold mines and thousands of occurrences.
“The 20-kilometre-plus Sawyer Gold Trend is characterized as a deeply weathered, antiformal, axial-planar shear zone with widespread alteration and gold mineralization. The New Sawyer property, on the northeastern end of the Sawyer Trend, contains historic gold mineralization that occurs within silicified zones hosted within sericite-pyrite (limonite) alteration. The Sawyer Gold Trend has similarities to the Haile mine in South Carolina and many significant orogenic gold systems around the world.”
Pancontinental Resources Corp. (or Pancon) is a Canadian junior mining company exploring the rich, under-explored Carolina Slate Belt in the southeastern USA.
Pancontinental Resources Corp. (PUC) is trading at $0.025 per share.