accelerated genetics

Pan Global Resources Announces Accelerated 2021 Drill Program at Escacena Copper Project, Spain

4,500m drill program targeting extensions of the high-grade mineralization in all directions at the La Romana copper prospect

Highlights:

  • Drilling has resumed at the company's La Romana target
  • 20 drill holes for 4,500m are planned aimed at extending the copper mineralization in all directions, including extending the near surface copper mineralization in the west and extensions of the high-grade massive chalcopyrite in the east.
  • Current treasury sufficient to significantly expand the drill program as results are received
  • Down hole EM will be completed as drilling progresses as this has proven to be an excellent tool in identifying and expanding mineralization

Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to announce the next stage (Phase 4) expanded drill program has commenced in the Escacena Project, Iberian Pyrite Belt, southern Spain. The new drill program includes an initial 20 drill holes for approximately 4,500 meters. Results are pending for seven drill holes from the 2020 drill program.

Tim Moody, Pan Global President and CEO states: "The next stage drill program promises to be exciting as we aim to continue to expand the area of mineralization in all directions and further test continuity. The 2020 program was very successful and continued to show the potential for a large near surface deposit with a 100% success rate from the drilling to-date. We expect these next 20 holes to expand our current footprint and are also planning to accelerate and expand our drill program through 2021."

The company has completed 28 drill holes at the La Romana target since drilling commenced in 2019. The recent drilling has been focused in an area 800m east-west and 400m north-south. Significant strata-bound volcanic-associated copper mineralization has been intersected from near surface in the west and dipping moderately to the north to approx. 220m vertical depth in the northeast. The copper mineralization remains open in most directions. Results for the final seven drill holes from the 2020 drill program are anticipated in February, 2021.

Significant results to date have included:

  • LRD02: 20.55m at 1.46% CuEq (1.02% Cu, 0.11% Sn, 4.7g/t Ag) from 37.45m, including 7m at 3.38% CuEq (2.5% Cu, 0.23% Sn, 133ppm Co, 10.1g/t Ag, 0.014g/t Au)
  • LRD05: 21m at 1.55% CuEq (1.19% Cu, 0.07% Sn, 5.8g/t Ag) from 16m
  • LRD19: 15m at 1.44% CuEq (1.29% Cu, 134ppm Co, 3g/t Ag, 0.02g/t Au) from 233m, including 10m at 2.1% CuEq (1.9% Cu, 185ppm Co, 4.5g/t Ag, 0.03g/t Au)
  • LRD20: 26.5m at 1.29% CuEq (0.91% Cu, 0.11% Sn, 2.3g/t Ag) from 18.5m, including 11m at 2.31% CuEq (1.61% Cu, 0.21% Sn, 3.5 g/t Ag)

The Phase 4 drill program includes twenty core holes for a total of approximately 4,500m. This includes step-out holes testing strike and dip extensions of the copper mineralization intersected in the previous drill holes. The plan includes expanding the drill area east and west to more than 1000m of strike and 400m dip extent (Figure 1). The drilling will mostly progress on 50-meter centers and also include several larger step-out holes based on geophysics targets.

Priority targets for the Phase 4 program include:

  1. Strike and dip extensions of the near surface copper mineralization in the west. A large down-hole EM conductor and IP chargeability anomaly coincides with the copper mineralization, indicating potential for the mineralization to extend for up to 500m to the west towards the historic La Romana mine workings and double the dip extent.
  1. Potential extensions of the near-surface copper mineralization towards the east associated with a large IP anomaly and up-dip extensions of the down-hole EM conductor plates.
  1. Extensions of the massive chalcopyrite layer in the northeast, which appears open in all directions and is projected to increases in thickness towards the north. The massive sulphide coincides with a large down-hole EM conductor plate that remains largely untested.

The copper mineralization occurs as north dipping copper layers extending from near surface to approx. 220m vertical depth and remains open. Geophysics surveys have highlighted a strong coincidence of the high-grade copper mineralization with IP, down-hole EM and Mise-a-la-Masse (MALM) geophysics with potential highlighted over approximately 2.5km of strike, most of which is untested.

One drill rig is currently operating with a second rig due to commence in early February. The company remains in a strong financial position with approx. $4 million of working capital at the end of December, 2020. This ensures the company has funds available to significantly expand the drill program according to results and also expand the geophysics surveys. Permitting is continuing to advance on the adjoining "Al Andalus" area, where the company plans to begin exploration on other high priority targets as soon as possible in 2021.

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.

About Pan Global Resources

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

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5190/72925_b3068823740d0a79_001.jpg

Figure 1 - La Romana drill hole locations, phase 4 drill area and geophysics targets

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5190/72925_b3068823740d0a79_001full.jpg

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/72925

News Provided by Newsfile via QuoteMedia

The Conversation (0)
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
White Cliff Minerals

John Hancock to join White Cliff Minerals Board

Astrotricha Capital SEZC appointed Advisors

White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce that John Hancock will join the Board of White Cliff Minerals effective 1 August 2025.

Keep reading...Show less
Gavel on books with "5 Top Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Royalties Jumps 183 Percent on Legal Win

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Friday (June 20) was the last day for the spring session of Canada’s parliament before its summer break.

On the agenda for the day was a vote on bill C-5, “The One Canadian Economy Act,” which was introduced on June 5.

Keep reading...Show less
Cyprium Metals

Nifty Copper Project Virtual Site Visit

Cyprium Metals Limited (ASX: CYM, OTC: CYPMF) (Cyprium or the Company) invites shareholders to join an investor webinar and live Q&A hosted by Executive Chairman Matt Fifield on Tuesday 24th June 2025. Investors will be guided on a virtual site visit of the Nifty Copper Complex showcasing the sulphide and heap leach resources and extensive brownfield infrastructure.

Keep reading...Show less

Latest Press Releases

Related News

×