Pan American Energy to conduct survey at Tharsis

Executive Summary

• Pan American Energy Corp. announced details for its upcoming 2025 exploration campaign at the Tharsis project, located at Squalus Lake in the Northwest Territories.
• The two-week program in September will focus on an integrated bathymetric survey of the lake bottom and outcrop characterization of adjacent bedrock to refine the geological model and identify drill targets.
• The company is also conducting an archaeological impact assessment to ensure compliance with territorial heritage guidelines and advance the project toward drill readiness.

Key Details

• Project Location: Tharsis project, Squalus Lake, Northwest Territories.
• Program Timeline: Approximately two weeks in September 2025.
• Bathymetric Survey:
  • Goal: Generate a high-resolution digital model of the lake bottom.
  • Scope: Extend imaging to the sediment-bedrock interface where feasible.
• Outcrop Studies:
  • Activities: Measuring magnetic susceptibility and compiling detailed lithological descriptions.
  • Objective: Refine the regional geological model and improve correlations between surface geology and geophysical anomalies.
• Strategic Outcome: The integration of bathymetric and outcrop data aims to support the identification of preliminary drill targets.
• Regulatory/Environmental: An archaeological impact assessment is being undertaken to ensure compliance with territorial heritage and cultural guidelines, building on an earlier overview assessment.
• Project Context: Tharsis hosts the Squalus Lake alkaline complex, a Proterozoic-age carbonatite-bearing intrusion prospective for rare earth and high-field-strength elements. Pan American holds an option to acquire up to 100% interest from Northern Critical Minerals Corp.

Notable Quotes

• "This program is an important step forward for the Tharsis project. The combination of a bathymetric survey alongside detailed outcrop studies will help form a comprehensive picture of the geology beneath Squalus Lake. We expect these results to not only refine our geological model but to set the stage for identifying drill targets in a responsible and scientific manner." — Adrian Lamoureux, Chief Executive Officer