Carolina Gold

Rediscovering the former Brewer Gold Mine in South Carolina

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.

The Brewer Gold Project is located in the prolific and underexplored Carolina Slate Belt in Chesterfield County, South Carolina, USA.

Between 1987-1995, Brewer produced 178,000 ounces of oxide gold from open pits that extended to 50-meter depths, where copper and gold-rich sulfides were exposed but could not be processed by the oxide heap leach processing facility. Brewer hasn’t been explored since 1997, and most of the tools used previously to explore the property have since been updated with more advanced technologies. Brewer is a high sulphidation system driven by a sub-volcanic intrusive and possibly connected to a large copper-gold porphyry system at depth, as indicated by: widely known prospective geology, including diatreme breccias; associated high sulphidation alteration; gold and copper mineralization; and geophysics (Schmidt, R.G., 1978, The Potential for Porphyry Copper-Molybdenum Deposits in the Eastern United States, U.S. Geological Survey).

Pancon’s 100%-owned, 1,500-acre Jefferson Gold Project nearly completely surrounds the 1,000-acre former Brewer Gold Mine property, and both Jefferson and Brewer are located 12 kilometers northeast along trend from the producing Haile Gold Mine, which produced 146,100 ounces of gold in 2019.

Pancon is fully funded for up to 10,000 meters drilling program at Brewer. Phase 1 drilling is now completed for a total of 2,692 meters in seven holes, two of which included both sonic and diamond drilling. Phase 2 drilling is currently underway.

Phase 1 Drilling Program Highlights:

Results to date confirm significant continuity of gold mineralization well below former mine.
Hole 5, from 56 meters’ vertical depth (immediately below the bottom of the former mine), intersected 181.6 meters of 1.24 g/t gold, including: 152 meters of 1.4 g/t gold; 75 meters of 2.14 g/t gold; 24.2 meters of 4.26 g/t gold; and 3 meters of 24.3 g/t gold.
Hole 4, located 110 meters due south of Hole 5, from 66.4 meters’ vertical depth (about 10 meters below the bottom of the former mine), intersected 115.6 meters of 0.91 g/t gold, including: 71 meters of 1.24 g/t gold; 15.5 meters of 2.35 g/t gold; and 3.45 meters of 5.29 g/t gold.
In Hole 5, Pancon geologists identified five sightings of visible gold in three different locations.
In Hole 5, 144 out of the 146 samples contain detectable gold, with the lowest detectable gold sample value being 0.034 g/t gold and the highest being 30.2 g/t gold.
In Hole 4, 341 out of the 373 samples contain detectable gold, with the lowest detectable gold sample value being 0.025 g/t gold and the highest being 6.53 g/t gold.
In Hole 2, all 219 samples contain detectable gold, with the lowest sample value being 0.012 g/t gold and the highest being 2.05 g/t gold.

First two sonic holes through the backfill waste material and former mined pit floor bedrock produced 242 large samples averaging about 35 kilograms (kg) per sample.
One pit floor bedrock sonic sample contains 9.81 g/t Au; one backfill waste sample contains 5.67 g/t Au.
Average gold value of all 242 sonic samples is 0.37 g/t Au; average value of all samples excluding the surface clay cap and pit floor bedrock is 0.34 g/t Au.
All sonic samples but one contain detectable gold (>0.025g/t Au); 30 samples contain >0.5 g/t Au and 11 samples contain >1 g/t Au.