The company produced 472,418 ounces of gold at its Egypt-based Sukari mine last year, compared to 544,658 ounces in 2017, due to disruptions and lower grades at the operation.
According to the company, the copper-gold skarn mineralization at its Sombrero project has geological similarities to Glencore’s Tintaya mine and MMG’s Las Bambas mine.
Pancon revealed that its objective for the initial phase of Montcalm’s program is to drill at least 4,500 metres to test a series of new conductor targets identified in 2018.