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TSXV: PGZ | OTCQX: PGZFF | FSE: 2EU
VANCOUVER, CB, April 17, 2024/PRNewswire/ -- Pan Global Resources Inc. ("Pan Global" or the "Company") (TSX-V: PGZ; OTCQX: PGZFF; FSE: 2EU) is pleased to announce the results from three additional holes in the 11-hole program at the Cañada Honda copper-gold (Cu-Au) discovery at the Company's 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain. Drilling continues in search of extensions of Cañada Honda's copper and gold mineralization. Cañada Honda is located about 3.5 km north of the La Romana copper-tin-silver (Cu-Sn-Ag) discovery, where drilling is also planned to continue.
"These latest drilling results include the largest stretch of gold cut to date at the Cañada Honda target and extend copper-gold mineralization 80 meters to the northwest. The results also confirm additional near-surface mineralization in the east of the area target. The increasing strength of mineralization to the west and its strong correlation with geophysics are very encouraging, indicating excellent potential for mineralization to continue and improve along the two kilometers in an east-west direction. the gravimetric anomaly. Wide mesh drilling is progressing at Cañada Honda, with 13 boreholes already completed covering an area of 450 by 300 meters," said Tim Moody, President and CEO of Pan Global.
Webcast for investors:
On Thursday, April 18, 2024, at 1:00 p.m. (Eastern Time) and 10:00 a.m. (Pacific Coast Time), the Company will host an investor webcast featuring Tim Moody, CEO, to talk about the latest results of the Escacena Project. A question and answer session will follow a brief presentation. Please register in advance: https://us06web.zoom.us/webinar/register/WN_LJCcdFmHQNGlqlDZwbhrjw
Featured results:
"The results are a new validation of the exploration models and methodologies that we are using. Given that the majority of the deposits in the Iberian Pyrite Belt are found in clusters, these latest results increase the potential for new discoveries in the numerous and attractive targets geophysicists that have not yet been surveyed in Pan Global's Escacena Project area," Moody stated.
Two styles of mineralization are found in Cañada Honda:
Table 1 – Results of selected Cañada Honda surveys
1Approximate real power
Table 2 – Information on nozzles in Cañada Honda
2Coordinate system: UTM29N ETRS89
About the Escacena project
The Escacena Project comprises an extensive contiguous land of 5,760 hectares controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. The Escacena Project is located near Riotinto's operating mine and adjacent to the former Aznalcóllar and Los Frailes mines, where Minera Los Frailes/Grupo México is in the final permitting phase and construction is expected to begin in 2024. The Escacena Project hosts the La Romana copper-tin-silver and Cañada Honda copper-gold discoveries, as well as other prospecting targets such as Bravo, Barbacena, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep and, more recently, Cortijo.
About Pan Global Resources
Pan Global Resources Inc. is actively pursuing copper-rich mineral deposits, given compelling copper supply-demand fundamentals and prospects for strong long-term prices as a critical metal for global electrification and the energy transition. The Escacena Project, the Company's flagship, is located in the prolific Iberian Pyrite Belt, in southern Spain, where a favorable permit history, excellent infrastructure, mining and professional experience, and support for copper as a Strategic Raw Material by part of the European Commission together define a first-level jurisdiction for mining investment. The Pan Global team is made up of professionals with recognized talent in exploration, discovery, development and mining exploitation, all of them committed to operating safely and with the utmost respect for the environment and the communities with which we collaborate. The company is a member of the United Nations Global Compact and operates in accordance with its principles.
QA/QC procedures
The core diameter was HQ (63 mm) and all samples were ½ core. The nominal sample size was 1 m of core length ranging between 0.5 and 2 m. Sampling intervals were defined by geological contacts and the beginning and end of each sample were physically marked on the core. The company's staff supervised the cutting of the cores and the taking of samples at all times. Duplicate ¼ control samples were taken approximately every 30 samples and certified reference materials were inserted every 25 samples in each batch.
The samples were sent to the ALS laboratory in Seville (Spain) and analyzed at the ALS laboratory in Ireland. All samples were crushed and divided (method CRU-31, SPL22Y), and pulverized using (method PUL-31). Gold analysis was carried out by 50 g fire assay with ICP finish (Au-ICP22 method) and multielement analysis was carried out by 4-acid digestion with ICP AES finish (ME-ICP61 method). Higher grade base metal results were analyzed by 4-acid digestion with ICP AES (OG-62 method).
Qualified Person
Álvaro Merino, Vice President of Exploration of Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information in this press release. Mr. Merino is not independent of the company.
Forecast statement
Statements that 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 the Company's actual results and 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 press release are reasonable, but there can be no assurance that these expectations will prove to be correct and undue reliance should not be placed on such forward-looking information. 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 are referred to the risk disclosures contained in the company's management report on its audited financial statements filed with the British Columbia Securities Commission.
The forecast information contained in this press release is based on the information available to the company at the date of its publication. Except as required by applicable securities laws, the Company does not intend, nor undertakes any obligation, to update this forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS SUCH TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS ANY RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FOR MORE INFORMATION PLEASE CONTACT:Jason Mercier, VP Investor Relations and Communicationsjason@panglobalresources.com / investors@panglobalresources.comTel: 1-778-372-7101 / 1-604-689-9930 www.panglobalresources.com
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