Pan American Energy Completes Field Program at Tharsis Project

Core Insights - Pan American Energy Corp. has successfully completed its 2025 preliminary field program at the Tharsis Project, which is located near Squalus Lake in the Northwest Territories, focusing on developing a comprehensive geological and structural model for rare earth element (REE) and niobium mineralization [1][10] Geological and Magnetic Data - The field campaign involved a six-person team mapping and characterizing outcrops around Squalus Lake, particularly near known REE-Nb showings and the magmatic core of the complex [2] - Lithological characterization showed a contrast between magnetic and non-magnetic rock units, with carbonatite and felsic phases displaying low magnetic signatures, while mafic units recorded higher readings [3] - Outcrop A, near the magnetic low core, had a low magnetic susceptibility average of 0.46 × 10⁻⁶ SI, while Outcrop B, along the magnetic high ring, averaged 55 × 10⁻⁶ SI, indicating potential for rare earth elements [3] Bathymetric Survey - A detailed bathymetric survey of Squalus Lake was conducted, collecting approximately 17,500 data points along 100-meter-spaced east-west transects, excluding areas with low water levels [4] - The bathymetric dataset will support the construction of a three-dimensional model of the lake bottom, aiding in the identification and refinement of drill targets [4] Archaeological Considerations - An archaeological field survey was conducted with support from a local Indigenous community member to ensure exploration work aligns with heritage and cultural preservation standards [6] Future Plans - All datasets from the 2025 program will be consolidated into a 3D geospatial workspace to assist with drill planning, including the preparation of a preliminary geological map and integrated model [7] - The next phase will guide the placement of the first drill holes at Tharsis, leveraging the integrated datasets [7][8]