Pan American Energy contracts drilling, support players

Executive Summary

• Pan American Energy Corp. has selected primary contractors to support its planned winter diamond drill program at the Tharsis project in the Northwest Territories.
• The winter program aims to provide the first direct subsurface test of a principal intrusive centre interpreted from geophysics and evaluate the correlation between magnetic signatures and carbonatite bodies associated with rare earth elements (REE) and niobium (Nb).
• The Tharsis project covers the Squalus Lake alkaline complex (SLAC), with exploration focused on evaluating carbonatite-related targets for critical metals.

Key Details

• Contractor Selection:
  • Critical Discoveries: Engaged to provide drill equipment and crew for the diamond drill program.
  • Heli-Fix: Engaged to provide fixed-wing aircraft and helicopter support for mobilization and field logistics.
  • Discovery Mining Services: Engaged to provide camp services and expediting support.
• Project Location: Tharsis project, Northwest Territories, Canada.
• Project Geology: The Tharsis project covers the Squalus Lake alkaline complex (SLAC), a Proterozoic, multiphase alkaline intrusive complex.
• Exploration Focus: Evaluation of carbonatite-related exploration targets for rare earth elements (REE) and niobium (Nb).
• Previous Work: Geological mapping, high-resolution unmanned aerial vehicle (UAV) magnetic surveying, and sampling programs, alongside refinement of the project-scale exploration model.
• Program Objective: To test the broader potential of the project by moving from surface work into drilling, specifically testing the first direct subsurface test of a principal intrusive centre and assessing depth correlations of magnetic signatures with carbonatite bodies.
• Qualified Person: Jared Suchan, PhD, PGeo, technical adviser to the company.

Notable Quotes

• "With our contractors in place, the company is on track to begin the phase 1 drill program at Tharsis. This marks an exciting step forward as we move from surface work into drilling and begin testing the broader potential of the project." — Adrian Lamoureux, Chief Executive Officer