Pan American Energy Corp. Announces Results of UAV-Borne Magnetic Survey at the Big Mack Lithium Project

The joint magnetic survey collaboration between Pan American Energy and Avalon Advanced Materials Inc. identified multiple high priority magnetic low drill targets

CALGARY, Alberta, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp.  (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is pleased to announce the results from the 2023 high resolution UAV-borne magnetics survey over the Big Mack Lithium Project (the “Project”). The survey was completed by EarthEx Geophysical Solutions Inc. ("EarthEx") and was successful in identifying multiple prospective features exhibiting low magnetic responses which have been interpreted to have the potential to host lithium-bearing pegmatites. These results are expected to aid in defining exploration targets and further delineating the extent of this type of mineralization at surface.

The survey was part of a larger collaboration project between the Company and Avalon Advanced Materials Inc. at the Big Mack and Big Whopper Project near Kenora, Ontario. The University of Manitoba and EarthEx are also granted use of the data generated by the survey for research, publication, and case study purposes. The survey was completed to provide a highly detailed magnetic map to aid in exploration mapping and drill-targeting in the area. The survey was conducted by EarthEx by flying a drone equipped with an exMAG high-resolution magnetic surveying system over the Big Mack and Big Whopper Projects in a grid. The grid was comprised of 732.1 line kilometers with data acquired on 25 meter spaced lines, with 250 meter spaced tie-lines. The survey data was then processed by EarthEx to generate 3D inversion voxels and isosurfaces, as well as advanced 2D imagery products, including magnetic imagery data grids and interpreted maps (see Figure 2).

Pegmatites often occur in semi-discontinuous swarms that can be concentrated along structural trends and geological boundaries. The exMAG high-resolution low-flying UAV magnetic surveying system used by EarthEx is useful in identifying structural trends and areas of low magnetic susceptibility that may correlate with lithium-bearing pegmatites. Final images from EarthEx’s magnetic data identified multiple high priority magnetic low targets. Figure 1 illustrates the magnetic lows identified by the survey with reference to the known lithium-bearing pegmatites at the Project. The coincidence of these magnetic lows with the known lithium-bearing pegmatites and their extensions appears to show the dominant trending structure of the geology within the Project, striking along a NE-SE plane. Of particular note is the anomalies that directly match the magnetic signatures of the Big Mack and Eleven Zone Pegmatites. This result provides strong motivation to investigate for previously undetected potential lithium bearing pegmatites. The Company intends to examine these anomalies further with the hopes of identifying additional lithium-bearing pegmatites at the Project.