The Montakam project is located 65 km northwest of Titus, Ontario, Eastern Canada, covering 3,780 hectares. It is located in the Montamken gabbro complex in the Montamgreenstone belt.
Montakom Mine is owned by Glencore and produces 3,931,610 tons of ore with grade of 1.25% nickel, 0.67% copper and 0.051% cobalt, respectively.
The initial phase of the project is to drill at least 4,500 meters to test a series of new conductor targets identified by airborne virtual time-domain electromagnetic identification in 2018.
Layton Croft, Pancon's president and CEO, said in a media briefing: "We spent 2018 repositioning Pancon to deal with what we think is the beginning of the global battery metal bull market.