Pan American Energy Launches Winter Drill Program in Northwest Territories

Pan American Energy Corp. has announced plans for a significant winter drilling program aimed at exploring critical mineral resources in the Tharsis Project, located in the Northwest Territories, Canada. Scheduled for March and April 2026, this initiative represents the first direct testing of subsurface targets at the site, focusing on rare earth elements (REEs), niobium, and yttrium.

The upcoming drill program will involve approximately 1,500 metres of diamond drilling across up to seven drillholes. These will be strategically placed on the ice of Squalus Lake, targeting high-priority areas identified as potential carbonatite bodies associated with an extensive alkaline intrusive system. This geological framework has been supported by previous geophysical studies, surface sampling, and other fieldwork.

Strategic Importance of Minerals

Yttrium, one of the key elements being explored, is highlighted on the U.S. Geological Survey’s Critical Minerals List for 2025 and 2026 due to its essential role in defense, aerospace, and energy sectors. The mineral is crucial for producing high-performance alloys, lasers, and advanced ceramics. With global supply chains for yttrium heavily reliant on imports, particularly from China, there is a concerted effort among the United States and its allies to diversify sources and strengthen domestic production.

In a similar vein, niobium is critical for manufacturing high-strength steels and superalloys used in military and energy applications. The current supply chain for niobium also faces risks, underscoring the necessity for enhanced production capabilities in North America.

The winter drill program is designed to address fundamental questions about the Tharsis Project’s potential. It aims to confirm the nature of the intrusive system beneath Squalus Lake and evaluate its geometry, continuity, and overall scale. The drilling will focus on a priority area characterized by distinct geophysical features that suggest the presence of intrusive centers within the broader Squalus Lake Alkaline Complex (SLAC).

Anticipated Outcomes and Future Plans

The primary objective of the drilling is to confirm the existence of potential carbonatite bodies and acquire initial data on their geological characteristics, thickness, and distribution. Results from this program are expected to refine the exploration model and help prioritize additional targets within the project area.

The drill target selection is based on a well-defined magnetic framework that includes a prominent ring-shaped magnetic high and several internal magnetic lows. These features align along a northeast-southwest trend and support the focus on the northern intrusive center as a high-confidence test of the broader system.

Adrian Lamoureux, Chief Executive Officer of Pan American Energy, expressed optimism regarding the drill program, stating, “This winter drill program marks a significant step forward for the Tharsis Project. We are transitioning from surface-based exploration into drilling to directly test compelling targets and generate the data needed to assess scale and guide the next phase of growth at Tharsis.”

As the program unfolds, it is expected to produce high-quality drill core suitable for modern analytical work. Data obtained from core logging, sampling, and laboratory analyses will inform future exploration strategies, including potential expansions of drilling and the refinement of target areas.

The scientific and technical aspects of this project have been reviewed by Jared Suchan, Ph.D., P.Geo., a Technical Advisor to Pan American and a recognized Qualified Person under National Instrument 43-101.

Pan American Energy Corp. is committed to advancing its exploration efforts in North America, particularly in the acquisition and development of mineral properties containing battery and critical metals. The company has secured a 75% interest in the Big Mack Lithium Project and is actively pursuing opportunities to enhance its portfolio in the rapidly evolving resource sector.

For further inquiries, contact Pan American Energy at [email protected] or by phone at +1 (587) 885-5970.