Pan American Energy Kicks Off Tharsis Drill Program to Test Critical Minerals — Pan American Energy Corp.

Event summary

Pan American Energy Corp. plans a March-April 2026 winter drill program at its Tharsis Project in the Northwest Territories, targeting rare earth elements (REE), niobium (Nb), and yttrium (Y).
The program will comprise approximately 1,500 meters of diamond drilling across up to seven drillholes from up to three drill pads on the ice of Squalus Lake.
Yttrium and niobium are critical minerals listed by the U.S. Geological Survey due to their strategic importance in defense, aerospace, and energy sectors.
The drill program aims to confirm the presence of potential carbonatite bodies and assess their geometry, continuity, and scale.

The big picture

Pan American Energy's drill program at Tharsis comes amid heightened global focus on securing reliable sources of critical minerals like yttrium and niobium, which are essential for defense, aerospace, and energy sectors. The program is strategically timed to capitalize on policies and partnerships aimed at diversifying supply chains away from dominant foreign suppliers, particularly China. The success of this drill program could position Pan American as a key player in the North American critical minerals landscape.

What we're watching

Drill Results: How the drill results will validate the geological model and potential scale of the Tharsis Project.
Supply Chain Dynamics: Whether Pan American can position Tharsis as a reliable source of critical minerals amid global supply chain diversification efforts.
Exploration Pace: The pace at which Pan American will expand drilling and refine target areas based on initial findings.