Pan American Energy to begin fieldwork at Tharsis

Executive Summary

• Pan American Energy Corp. has announced the commencement of Phase 1 fieldwork at its newly acquired Tharsis Rare Earth Element (REE) project in the Northwest Territories.
• The initial phase involves surveying activities to establish baseline technical, environmental, and cultural data, which will inform the development of a geological model and future drill targeting.
• This marks the beginning of a structured, multistep exploration plan for the Squalus Lake alkaline complex, following the acquisition of an option agreement with Northern Critical Minerals Corp.

Key Details

• Project Location: Tharsis REE project, located in the Northwest Territories, Canada.
• Project Geology: The project hosts the Squalus Lake alkaline complex, a Proterozoic-age carbonatite-bearing intrusion prospective for rare earth and high-field-strength elements.
• Ownership Structure: Pan American Energy entered into an option agreement with Northern Critical Minerals Corp. to acquire up to a 100-per-cent interest in the Tharsis project.
• Phase 1 Scope: The work is focused on field-based surveying activities to provide baseline information on the project area.
• Strategic Objectives: The investigation aims to establish a technical foundation for future exploration, incorporate environmental and cultural considerations, and guide the path toward drill targeting.
• Qualified Person: Jared Suchan, PhD, PGeo, technical adviser to the company, has reviewed and approved the scientific and technical content of the release.

Notable Quotes

• "Our strategy at Tharsis is to move deliberately and responsibly through each stage of exploration," said Adrian Lamoureux, chief executive officer of Pan American. "Beginning with phase 1 fieldwork, we are laying the groundwork for a project that we believe has significant potential."