VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 23, 2012) - Pantheon Ventures Ltd. ("Pantheon" or the "Company")(TSX VENTURE:PVX), is pleased to announce that it has commenced work on its Kokoko Property located in Chambers Township, Temagami, Ontario Canada.
The work program consists of ground line-cutting to extend existing geotechnical grids in the Ferrim Lake area as well as a new unexplored area, north and west of Tasse and Nellen Lakes. Additionally, the program will consist of ground geophysical surveying that includes: Magnetometer (walk mag), VLF-EM (very low frequency) and HLEM (Horizontal Loop Electromagnetics) electromagnetic surveying techniques.
The earliest record of drilling on the property was in the 1950's with Dominion Gulf drilling 4 holes in 1954 for about 1,000 metres. Canadian Astoria Minerals then drilled four shallow holes in the centre of the property in 1956 followed by Goldray Mines drilling 500 metres in three drill holes in 1963 in the northwestern reaches of the Property. The most significant drill program on the Property was conducted by Falconbridge in 1996 and 1998.
Falconbridge drilled a total of ten diamond drill holes focused along the southern third of the property. Falconbridge intersected significant zones of sulphide mineralization hosting copper, iron and nickel ± silver and gold. The sulphur percentage appears to be an important factor to mineralization, especially for nickel as shown in the historical drill hole CHA-06. The highlights of the historical data was sulphur measuring up to 48.6% in CHA-03, iron oxides (Fe2O3) measured as high as 24.19% in a sample in drill hole CHA-01 and finally the most prospective copper sample was in CHA-03 at 14.40%. All of these values are historical and are not considered compliant with regards to NI 43-101.
Also of interest on the Property is the R.A. Gilson mineral occurrence. This is documented to contain base metal, especially lead and zinc in a semi-massive to massive sulphide zone that was accompanied by a significant quartz vein system. Gold was also observed in this occurrence.
About the Company
The Company is engaged in the business of mineral exploration in Ontario. Its objective is to locate and develop economic precious and base metals properties of merit and to conduct its exploration program on the Kokoko Property. The Kokoko Property is comprised of 14 mineral claims located in the Sudbury Mining Division, Ontario.
The technical content of this press release has been reviewed and accepted by Thomas Clarke, Pr.Sci.Nat., a Director of Pantheon. Mr. Clarke is a Qualified Person under NI 43-101.
ON BEHALF OF THE BOARD
PANTHEON VENTURES LTD.
Mitchell Adam, President and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.