PAN GLOBAL COMMENCES EXPLORATION AT ROMANA WEST IN THE ESCACENA PROJECT, SOUTHERN SPAIN

PAN GLOBAL COMMENCES EXPLORATION AT ROMANA WEST IN THE ESCACENA PROJECT, SOUTHERN SPAIN

  • Detailed IP, gravity surveys and geochemical sampling commenced at high priority Romana West target
  • Copper mineralization exposed at surface and nearby historic mine workings indicates copper mineralization continues and remains open 250m along-strike west of the La Romana mineralization
  • 25-to-30 Romana West drill hole program planned under approved 2023 budget

Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) is pleased to announce the commencement of exploration activities at the Romana West target of the Escacena Project ("Escacena") in the Iberian Pyrite Belt, southern Spain .

Romana West is a high-priority gravity anomaly on the potential western continuation of Pan Global's La Romana copper-tin-silver discovery. The gravity anomaly at Romana West and the coincident historic mine workings indicate potential to extend the La Romana mineralization a further 800-1,000 meters beyond the 1.2 km of strike already defined by more than 150 holes drilled to-date. The drilling at La Romana shows the copper, tin and silver mineralization remains open to the west in the direction of the Romana West target and is open down-dip.

Since gaining surface access to the 680-hectare area west of La Romana last week, the Company has accelerated an exploration program over the Romana West target including detailed gravity and Induced Polarization (IP) surveys, mapping, and sampling of the historic mine workings. These surveys will help guide the planned diamond drill program. This is the first exploration of this area since the mineral rights were granted and since the area was last explored in the early 1980s by Exxon. Most of the area has a thin cover of post-mineral rocks and sediments.

The exploration program at Romana West includes an initial 100m x 50m gravity survey, a 200m line-spaced dipole-dipole IP survey and soil sample geochemistry. The geophysics surveys and soil geochemistry will also expand to cover several other large untested targets at Escacena including Romana North , Barbacena, and El Pozo. See Figure 1 below.

Specific surveying, geochemical sampling, and mapping of the historic mine workings at Romana West has also commenced. Initial observations of copper mineralization exposed in the mine workings and in outcrops nearby suggests the 1.2km copper mineralized trend at La Romana continues at least 250 meters beyond the westernmost limit of drilling to date and remains open farther to the west. See Figure 2 below.

An initial 25-to-30 drill hole program is planned at Romana West with drilling to be on north-south lines 100 meters apart to help delineate the western strike extent and test continuation of the near-surface La Romana mineralization to 200m down-dip. Site preparations for the drill program will commence within the next two weeks.

Figure 1 – Map showing La Romana and Romana West target area as well as the Romana North, Barbacena, and El Pozo targets. (CNW Group/Pan Global Resources Inc.)

Figure 2 – Pan Global geologists inspecting copper mineralization exposed at Romana West, 250m along-strike from the westernmost drill holes at La Romana. (CNW Group/Pan Global Resources Inc.)

Drilling at the Escacena Project continues with the two planned drill holes at the Cañada Honda target now complete and core samples sent for chemical analysis. Drill rigs are completing the final planned holes at the La Romana and Zarcita targets and will be mobilized to Romana West for the maiden drill campaign. Results pending for approximately 20 drill holes will be released as soon as they are available.

Pan Global looks forward to updating shareholders as the Romana West exploration program progresses in the coming weeks.

About the Escacena Project

The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena is located near operating mines at Las Cruces and Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo Mexico is in the final permitting stage with construction anticipated to start in 2023. The Escacena Project hosts the La Romana copper-tin-silver discovery and a number of other prospective targets, including Zarcita, Hornitos, La Jarosa, Romana Deep , Romana North , Romana West, Cañada Honda, Bravo, Barbacena, El Pozo, and San Pablo.

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.

Qualified Persons

James Royall , Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information for this news release. Mr. Royall is not independent of the Company.

On behalf of the Board of Directors

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 news 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 news release is based on information available to the Company as of the date of this news 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.

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.

Pan Global Resources Inc. logo (CNW Group/Pan Global Resources Inc.)

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SOURCE Pan Global Resources Inc.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2023/17/c5157.html

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PAN GLOBAL INTERSECTS 1.04% COPPER OVER 15.9 METERS AT WESTERN EXPANSION OF LA ROMANA COPPER-TIN-SILVER DISCOVERY

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TSXV: PGZ   |   OTCQX: PGZFF

  • Highest grades intersected to-date in the current 25-hole drill program
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 Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) is pleased to announce the intersection of additional high-grade near-surface copper mineralization at the Company's 100% owned Escacena Project in the Iberian Pyrite Belt in southern Spain .

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/NOT FOR DISSEMINATION, RELEASE OR PUBLICATION IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/

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"The Ramp Metals team hit a world class gold intercept after only one exploration season on site. Historically, the Rottenstone SW property has not been explored in detail. Saskatchewan is very underexplored in general, which shows the potential for a new gold district. The team will use the data from this mapping and sampling program to help prioritize areas for drill targeting," commented Jordan Black, CEO and Director of Ramp Metals Inc.

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Sydney, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to report the acquisition of a Boart Longyear LM90 underground drill rig, in line with its stated strategy to advance exploration drill works at the high-grade Reward gold mine.

HIGHLIGHTS

- Vertex has acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource

- The Vertex team are planning diamond drill programs for the following:

o Below the current JORC-2012 Reward Resource (see drill collar locations on Figure 1), with the aim of expanding upon the existing resource

o Fosters Exploration Target, and the South Star prospect area

- Acquisition of the LM90 follows an extensive review of the mineralisation potential below the Reward resource, which has only been drilled up to 50m below the Amalgamated Adit. This area targeted is referred to as the 'Reward mid depths' as it is located just 80m to ~200m below the Amalgamated Adit. Refer to figure 1*

- Upon commissioning of the LM90 drill rig, Vertex have planned eight drill holes to target the high-grade Fosters Exploration target

- The LM90 has several advantages well-suited to Vertex's requirements, including:

o The ability to work on surface and underground

o Safe, Semi-automated, with a rod-handler system which allows for less manual handling

o Allows greater flexibility in drilling over a number of resource and exploration areas

o LM 90 rigs are well-established in the industry as safe and reliable underground drill rigs

- Vertex acquiring its own rig has many advantages

o Per-metre drill costs will be significantly less than hiring an external drill contractor

o More control and accuracy over precision of drilling.

o Works well with Job sharing

o Reduces pressure on Mining crew to have drill cuddy availability

o The LM90 rig will be accounted for as an asset on the Vertex balance sheet

Executive Chairman, Roger Jackson, commented: "The acquisition of the LM90 was completed on attractive commercial terms, and followed an extensive review process by the field operations team to acquire a rig that was fit-for-purpose to advance our broader exploration strategy. This is an important development for Vertex and we're excited to get started with targeted drill works that have the potential to unlock significant value from the project. Our analysis has shown that it is significantly cheaper, safer and more practical to drill the Reward mine from underground, which is exactly what the LM 90 allows us to do. With an extensive framework of priority drill targets already set out, we look forward to advancing exploration and building on what is already an exciting resource at the Reward mine."

LONGYEAR LM90 UNDERGROUND DRILL RIG - KEY FEATURES

The LM90 has several attributes which will provide flexibility for on-site drilling operations, where Vertex will be able to maintain drill sites with the Company's own underground mining crew. The deployment of the LM90 also means Vertex does not have to pay stand-down time or mobilisation fees, and its drillers can be assigned to other jobs.

1. REVERSIBLE FEED CYLINDER

The feed cylinder is reversible which increases up-hole drilling capacity.

2. SEMI-AUTOMATED ROD HANDLING

Semi-automated rod handler (optional) makes handling of rods safer and easier.

3. HIGH TORQUE BREAKOUT

Automated high torque breakout device breaks most rod joints automatically.

4. FAIL SAFE ROD CLAMP

Hydraulic open and spring close rod clamp resultsin failsafe operation.

5. LOAD SENSING HYDRAULICS

Load sensing hydraulics maximize efficiency and reduce heat.

6. PROPORTIONAL CONTROLS

Proportional controls and lock levers provide optimum control of rpm and feed.

7. DIRECT COUPLED FEED FRAME

Direct coupled feed frame resultsin lower maintenance and smoother feed transmission

Combined Mineral Resource Estimate (MRE) for the Reward gold deposit at Hill End stands at 419,000 tonnes at 16.72g/t Au for 225,200oz Au (VTX Announcement 21 June 2023)

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/8DG26OB8



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

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DATE : October 1 st
TIME: 9:30 AM ET
LINK: https://bit.ly/3z584tW
Available for 1x1 meetings: October 1-3

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