Pan American Energy Selects Key Contractors to Support Planned Winter Drill Program at the Tharsis Project, Northwest Territories
Rhea-AI Summary
Pan American Energy (OTC: PAANF) selected primary contractors to support a planned winter diamond drill program at the Tharsis Project, Northwest Territories. Critical Discoveries will supply drill equipment and crew, Heli-Fix will provide fixed-wing and helicopter logistics, and Discovery Mining Services will provide camp and expediting support.
The program aims to provide the first direct subsurface test of a principal intrusive centre in the Squalus Lake Alkaline Complex to evaluate magnetic signatures for carbonatite-related REE and niobium mineralization. A Qualified Person has reviewed the technical content.
Positive
- Primary contractors engaged to support winter drilling operations
- Planned Phase 1 diamond drill program will test a principal intrusive centre
- Logistics covered: aviation support and camp services contracted
Negative
- No drilling results or assay data disclosed from the planned program
- No financial, timetable, or drill-depth details disclosed for the winter program
Field service providers engaged in advance of winter drill program mobilization
CALGARY, Alberta, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (CSE: PNRG | OTC: PAANF | FRA: SS6) (“Pan American” or the “Company”) is pleased to announce that it has selected the primary contractors to support execution of the Company’s winter field operations.
Critical Discoveries has been engaged to provide the drill equipment and crew for the planned diamond drill program, Heli-Fix has been engaged to provide fixed-wing aircraft and helicopter support for mobilization and field logistics, and Discovery Mining Services has been engaged to provide camp services and expediting support.
The Tharsis Project covers the Squalus Lake Alkaline Complex (“SLAC”), a Proterozoic, multi-phase alkaline intrusive complex where exploration to date has focused on evaluating carbonatite-related exploration targets for rare earth elements (“REE”) and niobium (“Nb”). The Project has been advanced through geological mapping, high-resolution unmanned aerial vehicle magnetic surveying (“UAV magnetics”), and sampling programs, together with ongoing refinement of the project-scale exploration model. The planned winter drill program is intended to provide the first direct subsurface test of a principal intrusive centre interpreted from geophysics, and to evaluate whether magnetic signatures correlate with carbonatite bodies and potential associated REE and Nb mineralization at depth.
“With our contractors in place, the Company is on track to begin the Phase 1 drill program at Tharsis,” said Adrian Lamoureux, Chief Executive Officer of Pan American Energy. “This marks an exciting step forward as we move from surface work into drilling and begin testing the broader potential of the project.”
Qualified Person
The scientific and technical content of this news release has been reviewed, verified, and approved by Jared Suchan, Ph.D., P.Geo., Technical Advisor to the Company and a “Qualified Person” as defined by National Instrument 43-101.
For a discussion of the Company’s QA/QC and data verification procedures and processes, please see its most recently-filed technical report under the Company’s profile at http://www.sedarplus.ca.
About Pan American Energy Corp.
Pan American Energy Corp. (CSE: PNRG) (OTC: PAANF) (FSE: SS60) is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties containing battery and critical metals in North America.
The Company has executed an option agreement in Canada with Magabra Resources pursuant to which it has acquired a
On Behalf of the Board of Directors:
Adrian Lamoureux
CEO
Contact:
Phone: (587) 885-5970
Email: info@panam-energy.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding the Company’s exploration and other plans with respect to its mineral properties, and the geological potential of such properties, as well as future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The CSE has neither approved nor disapproved the information contained herein.
FAQ
What contractors did Pan American Energy (PAANF) select for the Tharsis winter drill program?
What is the objective of Pan American Energy's (PAANF) Phase 1 drill program at Tharsis?
When will Pan American Energy (PAANF) begin drilling at the Tharsis Project?
What parts of the Tharsis Project are being targeted for rare earths and niobium by PAANF?
Has a Qualified Person reviewed Pan American Energy's (PAANF) technical disclosure for Tharsis?
