Northwire Canada EditionWednesday, July 15, 2026
Sign inSubscribe
Northwire
⌕
FG 0.035 +0.0% EFR 17.44 −6.2% IVN 10.47 −2.9% MASS 0.090 +0.0% NTH 0.160 −3.0% LIF 26.48 −2.6% CPAU 0.155 +0.0% PTX 0.110 +0.0% VENT 0.160 +0.0% ANK 0.280 −3.5% ODV 3.27 −3.0% MINK 0.105 +0.0% ZEN 0.660 +3.1% LCE 0.250 +4.2% CBA 0.085 +0.0% SGU 0.040 +0.0% FG 0.035 +0.0% EFR 17.44 −6.2% IVN 10.47 −2.9% MASS 0.090 +0.0% NTH 0.160 −3.0% LIF 26.48 −2.6% CPAU 0.155 +0.0% PTX 0.110 +0.0% VENT 0.160 +0.0% ANK 0.280 −3.5% ODV 3.27 −3.0% MINK 0.105 +0.0% ZEN 0.660 +3.1% LCE 0.250 +4.2% CBA 0.085 +0.0% SGU 0.040 +0.0%
Drill Results Neutral

Pan American Completes Logging and Sampling from Initial Drill Program at Tharsis Project

Pan American Energy Drilling Progress Stalls as Stock Plummets on Lack of Assay Data

By The Northwire Desk — AI Analysis May 27, 2026 · 08:00 PNRG · 0.4 Pan American Energy Corp.
Executive Summary
  • Pan American Energy Corp. announced completion of geological logging and core sampling for its 2026 diamond drilling program at the Tharsis Project in the Northwest Territories.
  • The drill campaign tested the northern intrusive center of the Squalus Lake Alkaline Complex (SLAC), totaling 464.5 metres across five boreholes.
  • Samples have been submitted to ALS for geochemical analysis, with further updates expected as analytical results are received and interpreted.
  • This follows the completion of the drill program announced on April 23, 2026, where demobilization from Squalus Lake camp was finalized.
  • The company is transitioning to post-field activities focusing on detailed geological logging, sampling for assay analysis, and interpretation of collected data.
Material Impact
  • News Impact: Neutral. The announcement confirms operational execution (drilling completed) but provides no new valuation catalysts as assay results are pending.
  • Expectation Check: In line with previous expectations set in January 2026 when the winter drill program was announced and commenced in March 2026.
  • Market Reaction Context: The stock has declined approximately 68% from its peak of $1.28 (January 2026) to current levels near $0.40, suggesting market disappointment despite operational progress due to the absence of assay data.
  • Materiality: Not material for immediate price appreciation; value will depend on subsequent geochemical results which are not yet disclosed.
PNRG · Price
Company Overview
  • Company: Pan American Energy Corp. focuses on critical minerals exploration in Canada.
  • Flagship Project (Tharsis): Located in the Northwest Territories within the Squalus Lake Alkaline Complex (SLAC). Targeting Rare Earth Elements (REE), Niobium, and Yttrium associated with carbonatite intrusions.
  • Secondary Project (Big Mack): Lithium-Cesium-Tantalum project in Ontario. Work initiated on a Mineral Resource Estimate (MRE) using 2023-2024 drilling data.
  • Development Stage: Tharsis is in early exploration/drilling phase; Big Mack is advancing towards resource estimation.
Read the original news release →

More from Pan American Energy Corp.

Apr 23, 2026 · 18:16

Operational Milestone Achieved

Production / Operations Apr 23, 2026 · 08:00

Pan American Energy Completes Tharsis Drilling, Awaits Assay Results Amid Price Correction

Production / Operations Mar 16, 2026 · 18:15

Pan American Energy begins diamond drilling at Tharsis

Drill Results Mar 16, 2026 · 08:00

Pan American Energy Commences Drilling at the Tharsis Project

Drill Results Feb 19, 2026 · 18:54

Pan American Energy field crew on site at Tharsis

Drill Results Feb 19, 2026 · 08:00

Pan American Energy Mobilizes Field Crews to the Tharsis Project

Drill Results