TSXV:PGZ

Pan Global Adds Second Drill Rig at Escacena Project, Southern Spain

DHEM Survey Significantly Extends Copper Target

 Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to report that new down hole electromagnetic (DHEM) survey results have significantly expanded the lower conductor anomaly associated with recently intersected massive chalcopyrite mineralization. Based on these results, Pan Global is mobilizing a second drill rig to accelerate the ongoing Phase 3 drill program at the La Romana copper discovery in the Escacena Project, Iberian Pyrite Belt, southern Spain.

Tim Moody, President and CEO of Pan Global commented: "The new down hole electromagnetic survey results are very positive and significantly extend the copper target east of recent drill holes LRD14 and LRD15, which both intersected massive chalcopyrite mineralization. The copper mineralization is wide open in this area."

Mr. Moody added: "Whilst we are awaiting assay results, we're mobilizing a second drill rig to accelerate the drilling. Additional drill holes have now been added to further test the lower conductor along strike and down-dip from holes LRD 14 and 15."

As reported in the News Releases of September 8 and September 29, 2020, the first seven drill holes of the current program all intersected visual copper mineralization. Of significance, drill holes LRD14 to LRD15 intersected massive chalcopyrite mineralization at down-hole depths of approx. 225m within a broad zone of stockwork pyrite-chalcopyrite mineralization. Assay results are awaited. The second drill rig is expected to be on-site this week. Holes LRD16 and 17 (in-progress) are sited east and west of hole LRD06.

New DHEM geophysics surveys have been completed in drill holes LRD09 and LRD14. Previous DHEM survey results show two large north-dipping conductor anomalies coincident with copper mineralization in drill holes (Figures 1 and 2). These DHEM results expand the lower conductor a further 240m east and 40m west.

The overall dimensions of the lower conductor are approximately 620 x 300m, and open to the east, down-dip and potentially up-dip in the east. The combined DHEM results extend approximately 1 km east-west, and dip of approximately 40° towards the north. The massive chalcopyrite in holes LRD14 and 15 coincides with the lower conductor. Additional drill holes are now planned to further test the lower conductor for extensions to the copper mineralization whist continuing to test the upper conductor.

Qualified Person
Robert Baxter (FAusIMM), a Director of Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Baxter is not independent of the Company.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5190/65455_1ee1a533440099a6_001.jpg

Figure 1 - Down hole electromagnetic conductor anomaly and drill hole locations.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5190/65455_1ee1a533440099a6_001full.jpg

  

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5190/65455_1ee1a533440099a6_002.jpg

Figure 2 - Drill hole locations (holes 9 to 15) and geophysics. Lower conductor in yellow and upper conductor in magenta. (Oblique view looking down towards the southwest)

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5190/65455_1ee1a533440099a6_002full.jpg

About Pan Global Resources
Pan Global Resources is actively engaged in base and precious metal exploration in Spain, and is pursuing opportunities from exploration through to mine development. The Company has committed to operating safely and with respect to the communities and environment where we operate.

On behalf of the Board of Directors
www.panglobalresources.com.

FOR FURTHER INFORMATION PLEASE CONTACT:
info@panglobalresources.com

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. 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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65455

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Metal pipes and bars obstructed by yellow "tariffs" tape with US flags.

Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we're going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Completion of MRE Drilling Campaign

Completion of Major Drilling Campaign Targeting Maiden Mineral Resource Estimate

Empire Metals Limited, the AIM-quoted and OTCQB-traded exploration and development company, is pleased to announce the successful completion of its largest drilling campaign to date at the Pitfield Project in Western Australia ('Pitfield' or the 'Project'). This programme focussed on high-grade titanium mineralisation within the in-situ weathered cap at the Thomas Prospect and is designed to underpin the Company's maiden JORC compliant Mineral Resource Estimate ('MRE').

Highlights

Keep reading...Show less
Loyal Metals Limited

Loyal to Acquire the High-Grade Highway Reward Copper Gold Mine

Loyal Metals Limited (ASX:LLM) (Loyal, LLM, or the Company) is pleased to announce that it has acquired a binding option to purchase the Highway Reward Copper Gold Mine in Queensland, Australia, one of the highest-grade copper mines worldwide, with past production totalling 3.65 million tonnes at 5.7% Cu and 260,000 tonnes at 4.5 g/t Au 1-9. This acquisition is the first step in Loyal’s 2025 Strategic Plan to broaden its critical minerals portfolio into copper. No exploration has been conducted on the mining leases since mining ceased in July 2005, despite a ~680% increase in copper prices and a ~1,256% increase in gold prices since the 1997 feasibility study 3,4. With over $4.4 million in funding, Loyal is well-positioned to revisit the high-grade Highway Reward Copper Gold Mine by deploying modern exploration techniques11.

Keep reading...Show less
Textured copper ribbons weave over a black background.

​Copper​ Market Hit by Major Supply Squeeze as LME Inventories Drop

One of the sharpest copper supply crunches in recent memory is rattling global commodities markets, as inventories at the London Metal Exchange (LME) plummet and the spot price soars.

Bloomberg reported that as of Monday (June 23), copper for immediate delivery was trading at a premium of US$345 per metric ton over three month futures, the widest spread since a record squeeze in 2021.

That dramatic price divergence reflects the market’s acute concerns over access to physical copper, with readily available inventories on the LME falling by around 80 percent this year alone.

Keep reading...Show less
Many copper bobbins and warehouse copper pipes.

Top 10 Copper-producing Companies

Copper miners with productive assets have much to gain as supply and demand tighten.

In May 2024, the copper price hit a new all-time high of US$10,954 per metric ton (MT) on the London Metal Exchange and US$5.20 per pound on the COMEX on the back of increasing demand and growing supply concerns.

Copper is one of the most important resources for the energy transition. However, in recent years, demand for the red metal has outpaced mining supply. While construction and electrical grids have long been major markets for copper, today the rise in demand for electric vehicles, EV charging infrastructure and energy storage applications are emerging drivers of copper consumption.

Another trend driving future copper demand is the rapid urbanization in the Global South, as rural populations migrate to cities, putting pressure on electricity grids.

Keep reading...Show less

Latest Press Releases

Related News

×