TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU
VANCOUVER, BC, May 12, 2025 /PRNewswire/ -- Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce positive results for three additional step-out drillholes at the La Romana target ("La Romana"), and three initial drill results at the La Pantoja target ("La Pantoja") west of La Romana, in the Company's 100%-owned Escacena Project ("Escacena") in the Iberian Pyrite Belt, southern Spain.
La Romana drill highlights
111111111La Pantoja drill highlights
111"The first results from the 2025 multi-target Escacena drill program confirm that the higher-grade copper-tin corridor at La Romana remains open to the northwest with the mineralized trend now extending over 1.7km east-west. New downhole electro-magnetic geophysics (DHEM) indicates excellent potential to expand the higher-grade zone at depth at La Romana. We are also pleased to report that a similar style of mineralization has been intersected in the maiden drill program at the La Pantoja target to the west of La Romana," said Tim Moody, Pan Global President and CEO.
"The early results at La Pantoja confirm a new zone of copper-tin mineralization stratigraphically beneath La Romana, providing further confirmation of the potential for additional discoveries at the Escacena Project. La Pantoja is a large-scale target with compelling geophysical indicators of stronger mineralization at depth. We look forward to advancing this target with further drilling."
Drilling continues at the flagship Escacena Project in southern Spain, with the focus on the high-priority Bravo target east of La Romana where wet weather initially hampered access, and at the Providencia target in the Cármenes Project in northern Spain. Additional drill results will be announced over the coming weeks.
Key points about the new results:
La Romana
La Pantoja
Table 1 –Selected Drill Results from La Romana (LRD184 to LRD186) and La Pantoja (LPD01 to LPD03)
|
Drillhole |
From |
To |
Interval |
CuEq1 |
Cu |
Sn |
Ag |
Pb |
Zn |
True Thickness |
|
m |
m |
m |
% |
% |
% |
g/t |
ppm |
ppm |
(m) |
|
|
LRD184 |
44.00 |
60.00 |
16.00 |
0.65 |
0.53 |
0.04 |
2.2 |
16 |
87 |
15.2 |
|
including |
52.00 |
60.00 |
8.00 |
1.08 |
0.92 |
0.05 |
3.8 |
28 |
114 |
7.6 |
|
including |
57.00 |
60.00 |
3.00 |
2.06 |
1.88 |
0.05 |
8.5 |
67 |
183 |
2.9 |
|
and |
138.00 |
140.00 |
2.00 |
1.16 |
1.12 |
<0.01 |
3.0 |
47 |
107 |
1.9 |
|
LRD185 |
133.00 |
138.00 |
5.00 |
0.66 |
0.63 |
0.01 |
2.0 |
155 |
409 |
2.1 |
|
including |
133.00 |
134.00 |
1.00 |
1.38 |
1.31 |
0.02 |
4.5 |
255 |
1190 |
0.7 |
|
and |
180.00 |
189.00 |
9.00 |
0.69 |
0.55 |
0.05 |
1.7 |
14 |
73 |
6.3 |
|
including |
186.00 |
189.00 |
3.00 |
1.13 |
0.91 |
0.08 |
2.6 |
30 |
101 |
2.1 |
|
LRD186 |
123.00 |
131.00 |
8.00 |
1.57 |
1.51 |
0.02 |
3.6 |
11 |
93 |
7.8 |
|
including |
127.00 |
130.00 |
3.00 |
3.35 |
3.20 |
0.04 |
7.8 |
21 |
125 |
2.9 |
|
including |
129.00 |
130.00 |
1.00 |
7.00 |
6.73 |
0.07 |
14.6 |
29 |
207 |
1.0 |
|
and |
165.00 |
166.00 |
1.00 |
1.19 |
1.10 |
0.03 |
1.7 |
17 |
80 |
1.0 |
|
and |
183.00 |
185.00 |
2.00 |
0.69 |
0.64 |
0.02 |
1.0 |
34 |
166 |
2.0 |
|
and |
224.00 |
225.00 |
1.00 |
0.63 |
0.60 |
<0.01 |
3.5 |
38 |
72 |
1.0 |
|
LPD01 |
41.00 |
42.00 |
1.00 |
0.93 |
0.79 |
0.05 |
2.0 |
19 |
83 |
0.8 |
|
and |
53.00 |
54.00 |
1.00 |
0.56 |
0.46 |
0.04 |
0.7 |
6 |
49 |
0.8 |
|
and |
76.75 |
78.10 |
1.35 |
1.83 |
1.80 |
<0.01 |
3.5 |
34 |
138 |
1.1 |
|
and |
97.00 |
100.00 |
3.00 |
1.70 |
1.53 |
0.05 |
3.9 |
31 |
118 |
2.5 |
|
including |
98.00 |
99.00 |
1.00 |
2.79 |
2.5 |
0.10 |
7.0 |
58 |
168 |
0.8 |
|
and |
121.00 |
143.00 |
22.00 |
0.17 |
0.02 |
0.05 |
0.3 |
6 |
49 |
17.9 |
|
including |
137.00 |
143,00 |
6.00 |
0.33 |
0.02 |
0.11 |
0.3 |
8 |
48 |
4.9 |
|
LPD02 |
81.00 |
95.00 |
14.00 |
0.16 |
0.14 |
0.01 |
<0.1 |
11 |
117 |
11.9 |
|
LPD03 |
117.00 |
118.00 |
1.00 |
5.42 |
5.36 |
<0.01 |
8.7 |
36 |
145 |
0.9 |
|
1 Copper Equivalent = CuEq. CuEq is calculated using Cu, Sn, and Ag grades. Metallurgical recoveries include 86% for Cu, 68% for Sn and 56% for Ag, based on preliminary studies performed by Wardell Armstrong International and MinePro. The CuEq calculation uses US$ 8,693/tonne Cu, US$ 29,069/tonne Sn and US$ 23.72/oz Ag, corresponding to the three-year monthly price averages to July 2023. The effective formula is [CuEq %] = [Cu %] + 2.6440 * [Sn %] + 0.0057 * [Ag ppm] |
Table 2 – Drillhole Collar Information
|
Hole ID |
Easting2 |
Northing2 |
Azimuth (º) |
Dip (º) |
Length (m) |
|
LRD184 |
735892 |
4152780 |
180 |
-60 |
152.40 |
|
LRD185 |
735907 |
4152848 |
0 |
-90 |
240.00 |
|
LRD186 |
735819 |
4152936 |
220 |
-50 |
229.50 |
|
LPD01 |
735553 |
4152918 |
190 |
-75 |
359.00 |
|
LPD02 |
735400 |
4152930 |
180 |
-70 |
239.25 |
|
LPD03 |
735581 |
4152965 |
180 |
-70 |
337.25 |
|
2Coordinate system: UTM29N ERTS89 |
About the Escacena Project
The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena is located near the operating mine at Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes (Grupo México) is in the final permitting stage for mine development. The Escacena Project hosts Pan Global's La Romana and La Pantoja copper-tin-silver discoveries and the Cañada Honda copper-gold discovery. Escacena hosts a number of other prospective targets, including Bravo, Barbacena, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo.
About Pan Global Resources
Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices.
The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment. The Company's second project, at Cármenes, in northern Spain, is also an area with a long mining history and excellent infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mine operations - all of which are committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.
Qualified Persons
Álvaro Merino, Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the Company.
QA/QC
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and ranged from 0.5 to 2m. Sample intervals were defined using geological contacts with the start and end of each sample physically marked on the core. Diamond blade core cutting and sampling was supervised at all times by Company staff. Duplicate samples of ¼ core were taken approximately every 30 samples and Certified Reference materials inserted every 25 samples in each batch.
Samples were delivered to ALS laboratory in Seville, Spain and assayed at the ALS laboratory in Ireland. All samples were crushed and split (method CRU-31, SPL22Y), and pulverized using (method PUL-31). Gold analysis was by 50gm fire assay with ICP finish (method Au-ICP22) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62).
Forward-looking statements
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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.
FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP Investor Relations and Communications, jason@panglobalresources.com / investors@panglobalresources.com, Tel: +1-236-886-9518
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