Pan Global proves potential for large gold discovery in Spain
Highlights include 46 m at 1.08 grams per ton gold from 24 m down-hole
Pan Global explores for copper and gold in mining-friendly Spain guided by a leadership team proven in the areas of exploration, discovery, development and mine operations
Pan Global Resources stock has given back 37.50 per cent year-over-year and 45.65 per cent since 2020
Pan Global Resources (TSXV:PGZ) yielded significant near-surface gold from its first drillhole (PDV02) on its 5,653-hectare Cármenes project in Spain, backing up recent soil, trench and channel samples.
Highlights include 46 m at 1.08 grams per ton (g/t) gold from 24 m down-hole, including 4 m at 6.27 g/t gold and 0.25 g/t platinum and palladium from 66 m, associated with strong multi-stage hydrothermal breccia.
The maiden six-hole program seeks to expand mineralization tied to the historical Providencia copper, cobalt and nickel underground mine. The target area extends for more than 250 m x 150 m, has no previous drilling or reports of gold mineralization, and features samples of strongly anomalous copper, gold, nickel, cobalt and lead.
Channel sampling is underway with assay results for drillholes PVD03 and PVD04 expected within three weeks, the latter intersecting breccia over more than 120 m near surface.
Management is also studying a recently completed helicopter electromagnetic, magnetic and radiometric survey to identify additional drill targets on the project. Leadership insights
'The first drill results at the Providencia target represent an exceptional start to Pan Global's maiden drill program at Cármenes, confirming discovery of previously unknown near-surface gold mineralization over a wide interval,' Tim Moody, Pan Global Resources' president and chief executive officer, said in a statement. 'The results expand the breccia-hosted mineralization south of the historical high-grade copper, cobalt and nickel mine workings at Providencia and is wide open. The new gold zone occurs as a potential halo to the copper-rich mineralization found in the mine workings.'
'Multiple targets have been identified from soil geochemistry and mapping in the immediate area around Providencia, including the large untested Profunda target located 1 km to the south. This further highlights the potential for additional discoveries in the Cármenes Project,' Moody added. About Pan Global Resources
Pan Global explores for copper and gold in mining-friendly Spain guided by a leadership team proven in the areas of exploration, discovery, development and mine operations.
Pan Global Resources stock (TSXV:PGZ) last traded at C$0.12. The stock has given back 37.50 per cent year-over-year and 45.65 per cent since 2020.
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