Pancontinental Resources Corp (PUC)

[sumisu]

Pancontinental Uranium Corporation: High Value Rare Earth Elements ("REE") Stream Sediment Results and New REE Hard Rock Drill Intersection at Charley Creek Project

Release Source: Pancontinental Uranium Corporation On Wednesday March 9, 2011, 2:06 pm EST

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 03/09/11) - Pancontinental Uranium Corporation (TSX-V:PUC - News) ("Pancon") and its joint venture partner Crossland Uranium Mines Limited ("Crossland") (ASX:CUX - News) are pleased to provide the following update on the latest results from their expanding (REE) exploration program at their Charley Creek project, 100 kilometres North West of Alice Springs, in the Northern Territory, Australia.

As well as continuing high value returns from stream sediment sampling at the project, Crossland, the operator, has discovered a new promising REE drill intersection in unweathered bedrock. The hard rock drill intersection points to a total area of over 40 square kilometres prospective for REE deposits.

The outstanding assay results to date from the stream sediment sampling, along with awaited auger drill results, have the companies on track to complete a resource evaluation later this year on an initial alluvial volume.

Pancon and Crossland believe that these results present opportunities for low cost production of a heavy mineral concentrate with high REE values from the large volumes of alluvial sediment deposits at Charley Creek.

Highlights:

http://finance.yahoo.com/news/Pancontinental-Uranium-iw-3514580986.html?x=0&.v=1