Drill results confirm strong VMS-style mineralization at La Romana continues northwest and remains open on strike and at depth, including 1.51% copper, 0.02% tin and 3.6 g/t silver over 8m
Initial drilling at La Pantoja target highlights new zone of copper-tin mineralization beneath La Romana, including copper assays up to 5.36%
Drilling underway at the Bravo target 1km east of La Romana, and the Providencia target in the Cármenes Project, northern Spain
VANCOUVER, BC, May 12, 2025 /CNW/ - 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.
Figure 1 – La Romana gravity anomaly map showing locations of new drillholes LRD184 to LRD188, and LPD01 to LPD03, and cross-section locations A-A’ (Figure 2) and B-B’ (Figure 3) (CNW Group/Pan Global Resources Inc.)
Figure 2 – La Romana Cross Section A - A’ highlighting new drillhole LRD186 (CNW Group/Pan Global Resources Inc.)
Figure 3 – La Romana Cross Section B - B’ highlighting new drillholes LRD184 and LRD185 (CNW Group/Pan Global Resources Inc.)
Figure 4 – Helicopter Electro-magnetic Resistivity anomaly map, showing the La Romana and La Pantoja targets, and drillhole locations (CNW Group/Pan Global Resources Inc.)
Drillhole LRD186– northwest step out, open at depth
8.0m at 1.57% CuEq1 (1.51% Cu, 0.02% Sn, 3.6 g/t Ag) from 123m, including
1.35m at1.83% CuEq1(1.80% Cu, <0.01% Sn, 3.5 g/t Ag) from 76.75m, and
3.0m at 1.70% CuEq1(1.53% Cu, 0.05% Sn, 3.9 g/t Ag) from 97m
Wide tin anomalous zone, 22.0m at 0.05% Sn from 116m, including
6.0m at 0.11% Sn
Drillhole LPD03
1.0m at 5.42% CuEq1(5.36% Cu, <0.01% Sn, 8.7 g/t Ag) from 117m
"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
Step-out drilling was focused on testing the western extent of the near-surface higher-grade copper mineralization
Drillhole LRD186 with 8.0m at 1.5% Cu confirms the continuity of the La Romana target extending the higher-grade zone 50m, and remains wide-open at depth to the northwest
Excellent potential to extend the higher-grade zone coincident with an untested downhole electro-magnetic anomaly (190m x 70m) projecting down-dip from drillhole LRD186
Two additional wide-spaced step-out drillholes (LRD 187 and LRD188) indicate the mineralized trend at La Romana extends a further 300m to the west, with more than a 1.7 km strike-length overall
Assay results are pending for two westernmost drillholes at La Romana (LRD187 and LRD188), and DHEM is in-progress in hole LRD188
Additional step-out drillholes are planned, aiming to add to a maiden resource
La Pantoja
Large geophysical target located west of La Romana, with a 500m NW-SE orientation, and extending to over 600m depth
Geophysical indicators (Heliborne-EM and IP) at La Pantoja are analogous to those at La Romana with coincident copper-tin-silver mineralization
Initial drilling in the upper part of the target confirms copper-tin mineralization and extensive related mineral alteration at stratigraphic levels beneath La Romana
Heliborne EM and new DHEM survey results suggest stronger mineralization exists laterally and at depth
Results suggest additional untested mineral potential beneath La Romana, at depths below current drilling
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
1Copper 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).
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.
SOURCE Pan Global Resources Inc.
FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP Investor Relations and Communications, [email protected] / [email protected], Tel: +1-236-886-9518
Share this article