Pan American Gold stops two exploration projects

Pan American Gold Corp.

of Vancouver said last week it decided against further exploration of two properties on which it held options in northern Nevada.

The company won't pursue work on its Pinnacle prospect, which included 80 claims covering 1,600 acres 30 miles northeast of Gabbs, and its Kinsley Mountain property, 125 claims covering 2,600 acres 45 miles southwest of Wendover.

Pan American Gold said it couldn't raise the capital to continue exploration, faced difficulties winning permits and hadn't been encouraged by early exploration results.

The company had invested about $70,000 at Kinsley Mountain and about $409,000 at Pinnacle, according to a Sept.

30 filing with the Securities and Exchange Commission.