- Pan American Energy Corp. (PNRG) has signed a property option agreement with Magabra Resources Corporation dated August 22, 2022
- The agreement grants Pan American Energy the right to acquire up to a 90-per-cent interest in and to the Big Mack Property
- The property occurs within the Separation Lake Greenstone Belt (SLGB) and has been studied for the rare-metal pegmatite potential of the area
- Exploration work on the property has identified a series of petalite and rare-earth pegmatites
- Pan American Energy Corp. is an exploration-stage company focused on the acquisition, exploration and development of mineral properties
- Pan American Energy Corp. opened the day’s trading at $0.60 per share
Pan American Energy Corp. (PNRG) has signed a property option agreement with Magabra Resources Corporation dated August 22, 2022.
The agreement grants Pan American Energy the right to acquire up to a 90-per-cent interest in and to the Big Mack Property, which consists of a single mining lease (LEA-107832) in the Paterson Lake Area located approximately 80 kilometres north of Kenora, Ontario, Canada.
The property occurs within the Separation Lake Greenstone Belt (SLGB). It has been studied by the Ontario Geological Survey and the Ontario government for the rare-metal pegmatite potential of the area.
Exploration work to date has identified a series of petalite and rare-earth pegmatites on the property.
“This transaction with Magabra Resources Corporation represents another transformational step forward for Pan American Energy Corp” noted CEO, Jason Latkowcer.
“Adding a hard rock lithium asset to our portfolio diversifies the company’s lithium projects beyond our current Green Energy Lithium brine project in Utah,” he added.
The agreement will be executed in three phases involving a series of cash and share payments and the incurring of exploration expenditures.
Pan American Energy Corp. is an exploration-stage company focused on the acquisition, exploration and development of mineral properties in North and South America.
Pan American Energy Corp. opened the day’s trading at $0.60 per share.
