PAN GLOBAL INTERCEPTS FURTHER HIGHER-GRADE GOLD AND COPPER MINERALIZATION AT CÁRMENES PROJECT, SPAIN

Cision Canada

7 hours ago

Higher-grade intervals include 2.19 g/t gold over 4 meters; 1.05 g/t Au over 10m; and 0.59 g/t Au, 1.05% Cu, 0.22% Ni, 0.22% Co over 4m
Wide breccia gold intercepts, including 0.37 g/t Au over 56 meters and 0.23 g/t Au over 110 meters, highlights shallow bulk-tonnage potential
Drilling now targeting the principal untested gold zone at Providencia with three planned step-out holes
Multiple untested geophysics targets indicates strong potential for additional discoveries at Cármenes
VANCOUVER, BC, June 18, 2025 /CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce results for two additional drillholes completed in the maiden drill campaign at the Company's 100%-owned Cármenes Project ("Cármenes"), northern Spain.
The new assay results are for drillholes PVD03 and PVD04, which targeted potential extensions of the breccia-hosted mineralization associated with the historical Providencia copper-cobalt-nickel underground mine workings. PVD03 was drilled immediately east of the historical mine workings, and PVD04 drilled through Cu-Ni-Co mineralized breccia. The Providencia target area had no previous drilling and no prior recognition of potential for significant gold mineralization.
Drill Highlights:
"The wide zones of breccia mineralization in Pan Global's maiden drill program at Cármenes highlight the potential for significant hydrothermal breccia-hosted gold, copper, nickel, and cobalt mineralization. The results expand the breccia-hosted mineralization south, east and north of the historical mine workings at Providencia and the target area remains wide open. The next three step-out holes will be the first tests of a wide zone with highly anomalous gold mineralization east of the Providencia workings, including channel sampling that returned 3.11 g/t gold over 37 meters," said Tim Moody, Pan Global President and CEO.
"We are also very excited by the results of the recently completed helicopter geophysics survey over Cármenes, which provides a rich dataset indicating multiple new targets with similar features to Providencia, indicating a high potential for discovery of additional gold, copper, nickel, and cobalt in the Project area."
Key points:
The drill results reported to date are for three of the planned six-hole maiden drill campaign at Cármenes, which is the first-ever drilling at the Providencia target.
First completed drillhole (PVD02) intersected a high-grade interval of 6.27 g/t gold over 4m within a broader interval averaging 1.08 g/t gold over 46m south of the historical mine workings. [See media release from May 19, 2025 ]
The results for drillholes PVD03 and PVD04 expand the breccia-hosted gold zone to the east and north of the mine workings, and mineralization remains wide open.
The upcoming three drillholes will step out up to 120m east of the Providencia mine workings, testing beneath recently reported high-grade trench and channel sample results (3.11 g/t Au over 37m and 1.74 g/t Au over 20m). [See media release from February 11, 2025 ]
Interpretation of a recently completed helicopter electromagnetic, magnetic and radiometric survey over Cármenes is progressing quickly and indicates multiple additional targets with similar characteristics to Providencia.
Bravo Target drilling update
Pan Global is also pleased to report that following a pause for crop harvesting, drilling will resume at the large high-priority Bravo target at the flagship Escacena Project in southern Spain. The next three Bravo holes will test very strong IP-chargeability and coincident gravity and electromagnetic geophysics anomalies, and are expected to be completed over the next six weeks.
Table 1 – Providencia Drill Results Summary
1 All intercepts are reported as downhole drill widths. There is insufficient drilling to constrain the geometry to determine true width.
Table 2 –Drillhole Collar Information
2 Coordinate system: UTM30N ERTS89
About the Cármenes Project
The Cármenes Project is located approx. 55km north of León in northern Spain and comprises five Investigation Permits over 5,653 hectares. The Project area is highly prospective for multiple bodies or "clusters" of carbonate-hosted "pipe-like" breccia style copper, nickel, cobalt, and gold mineralization. The area includes the former Profunda and Providencia mines that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller historical mine workings in the area highlight potential for additional breccia pipes. These types of ore deposits can have significant vertical dimensions exceeding 1km.
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, platinum and palladium analysis was by 50gm fire assay with ICP finish (method Au-ICP-24) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP-61). 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.
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SOURCE Pan Global Resources Inc.