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

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

 
 

  TSXV: PGZ   |   OTCQX: PGZFF  

 
  • Highest grades intersected to-date in the current 25-hole drill program
  •  
  • New drilling confirms continuation of high-grade near-surface copper-tin-silver (Cu-Sn-Ag) mineralization
  •  
  • Mineralization remains wide open, with grades increasing to the west and down-dip to the north
  •  

 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 .

 

Assay results for five new drill holes from the western extension of the La Romana copper-tin-silver discovery confirm the mineralization extends over more than 1.35 kilometers of strike and remains open. These drill results include the highest grades intersected to-date in the current 25-hole drill program aimed at testing the western extension of the La Romana mineralization.

 

  Highlights:  
 
  •   LRD171 :   15.9m at 1.15% CuEq   1 (1.04% Cu, 0.03% Sn, 2.4 g/t Ag) from 79m , including   9.9m at 1.70% CuEq   1 (1.57% Cu, 0.04% Sn, 3.6 g/t Ag);
  •  
  •   LRD170 :   12m at 1.04 % CuEq   1 (0.80% Cu, 0.09% Sn, 2.1 g/t Ag) from 61m , including   7m at 1.47% CuEq   1 (1.16% Cu, 0.11% Sn, 2.9 g/t Ag);
  •  
  •   LRD168 :   13m at   1.02% CuEq   1 (0.67 % Cu, 0.13% Sn, 1.6 g/t Ag) from 52m , including   7m    at 1.43% CuEq   1 (0.96% Cu, 0.17% Sn, 2.2 g/t Ag)
  •  
  • A down-hole electromagnetic (DHEM) conductor anomaly from LRD171 provides a strong indication the higher-grade mineralization continues down-dip and will be targeted for future drilling
  •  

Drill hole locations are shown in Figure 1 below. Drill hole assay results are summarized in Table 1 and collar details are presented in Table 2 below.

 

"It is very encouraging that our ongoing drill program at La Romana confirms extensions to the high-grade copper-tin mineralization. The potential to expand the high-grade mineralization further along-strike to the west and down-dip is exciting. The east-west strike length of La Romana is now more than 1.35 kilometers and remains open, with step-out drilling ongoing," said Tim Moody , President and CEO of Pan Global.

 

"The combination of continuous near-surface copper-tin mineralization, simple and predictable geometry, and favourable metallurgy are significant advantages for potential open-pit development at La Romana," said Mr. Moody. "The C$6 million non-brokered private placement financing that closed earlier this week puts us in a strong position to fund a multi-target exploration program and maiden Resource for La Romana."

 
 

  Figure 1 – Gravity anomaly map for the La Romana target showing drill hole locations with selected results, and cross-section locations A-A' (Figure 2) and B-B' (Figure 3). (CNW Group/Pan Global Resources Inc.) 

 
 

The main La Romana copper mineralization occurs in two highly continuous layers, Zone B and Zone C, commencing from surface or directly below a thin cover of post-mineral sediments. The new results show the copper mineralization in Zone B is increasing in grade and thickness in the west. A deeper high-grade copper layer, Zone D, is also present in several recent drill holes, and represents an additional prospective target horizon.

 

Copper mineralization intersected in drill holes includes primary chalcopyrite, overprinted at shallow depths by secondary/supergene copper sulphide (chalcocite) and an overlying oxide zone with local native copper and copper oxides. Chalcocite is a high copper content mineral, indicating upgrading of the copper mineralization at the base of the oxide zone. This represents an additional target for higher grade copper. The tin mineralization is cassiterite, the preferred mineral for commercial extraction.

 

Additional results are pending for eight completed drill holes at La Romana and preparations are underway for follow-up drilling at the recent Cañada Honda copper-gold discovery approximately 4km to the north.

 
 

  Figure 2 – Cross section 736865m East, A-A', showing assay results and copper grade shells for drill holes LRD170 and LRD171, with mineralization from surface and grade increasing and open down-dip. A DHEM conductor anomaly (approx. dimensions 290m x 90m) indicates potential continuation of the high-grade mineralization. (CNW Group/Pan Global Resources Inc.) 

 
 
 

  Figure 3 – Cross section 735965m East, B-B', showing selected assay results and copper grade shells for new drill holes LRD167 and LRD168, with near-surface mineralization and grade increasing and open down-dip. (CNW Group/Pan Global Resources Inc.) 

 
 

  Table 1 – La Romana new drill results summary  

 
 
                                                                                                                                                                                                                                                                                                           
 

   Hole ID   

 
 

   From   

 
 

   To   

 
 

   Interval   

 
 

   CuEq 1   

 
 

   Cu   

 
 

   Sn   

 
 

   Ag   

 
 
 

   Au   

 
 

   Pb   

 
 

   Zn   

 
 

   True
Thickness
 
 

 
 
 

   m   

 
 

   m   

 
 

   m   

 
 

   %   

 
 

   %   

 
 

   %   

 
 

   g/t   

 
 
 

   g/t   

 
 

   ppm   

 
 

   ppm   

 
 

   (m)   

 
 

   LRD167   

 
 

   20.00   

 
 

   33.05   

 
 

   15.05   

 
 

   0.49   

 
 

   0.32   

 
 

   0.06   

 
 

   1.2   

 
 
 

   0.01   

 
 

   25   

 
 

   81   

 
 

   12.43   

 
 

  and  

 
 

   73.00   

 
 

   80.00   

 
 

   7.00   

 
 

   0.64   

 
 

   0.50   

 
 

   0.05   

 
 

   1.4   

 
 
 

   0.02   

 
 

   14   

 
 

   59   

 
 

   5.78   

 
 

  and  

 
 

   117.95   

 
 

   118.50   

 
 

   0.55   

 
 

   1.70   

 
 

   1.57   

 
 

   0.05   

 
 

   0.5   

 
 
 

   0.02   

 
 

   13   

 
 

   95   

 
 

   0.45   

 
 

   LRD168   

 
 

  43.00  

 
 

  57.55  

 
 

  14.55  

 
 

  0.93  

 
 

  0.61  

 
 

  0.12  

 
 

  1.4  

 
 
 

   0.02   

 
 

   15   

 
 

   109   

 
 

   14.27   

 
 

  including  

 
 

   43.00   

 
 

   56.00   

 
 

   13.00   

 
 

   1.02   

 
 

   0.67   

 
 

   0.13   

 
 

   1.6   

 
 
 

   0.02   

 
 

   17   

 
 

   108   

 
 

   12.75   

 
 

  including  

 
 

   47.00   

 
 

   56.00   

 
 

   7.00   

 
 

   1.43   

 
 

   0.96   

 
 

   0.17   

 
 

   2.2   

 
 
 

   0.03   

 
 

   29   

 
 

   138   

 
 

   6.87   

 
 

   LRD169   

 
 

   52.00   

 
 

   59.00   

 
 

   7.00   

 
 

   1.05   

 
 

   0.97   

 
 

   0.03   

 
 

   2.0   

 
 
 

   0.01   

 
 

   16   

 
 

   96   

 
 

   5.34   

 
 

  including  

 
 

   56.00   

 
 

   59.00   

 
 

   3.00   

 
 

   2.26   

 
 

   2.11   

 
 

   0.05   

 
 

   4.3   

 
 
 

   0.02   

 
 

   13   

 
 

   105   

 
 

   2.29   

 
 

  and  

 
 

   101.00   

 
 

   111.00   

 
 

   10.00   

 
 

   0.53   

 
 

   0.33   

 
 

   0.07   

 
 

   0.7   

 
 
 

   0.03   

 
 

   10   

 
 

   59   

 
 

   7.63   

 
 

  and  

 
 

   140.00   

 
 

   141.00   

 
 

   1.00   

 
 

   1.68   

 
 

   1.64   

 
 

   0.01   

 
 

   4.7   

 
 
 

   0.02   

 
 

   25   

 
 

   176   

 
 

   0.76   

 
 

   LRD170   

 
 

   61.00   

 
 

   73.00   

 
 

   12.00   

 
 

   1.04   

 
 

   0.80   

 
 

   0.09   

 
 

   2.1   

 
 
 

   0.01   

 
 

   5   

 
 

   77   

 
 

   11.82   

 
 

  including  

 
 

   66.00   

 
 

   73.00   

 
 

   7.00   

 
 

   1.47   

 
 

   1.16   

 
 

   0.11   

 
 

   2.9   

 
 
 

   0.02   

 
 

   5   

 
 

   89   

 
 

   6.90   

 
 

  including  

 
 

   69.00   

 
 

   71.40   

 
 

   2.40   

 
 

   3.20   

 
 

   2.64   

 
 

   0.20   

 
 

   6.2   

 
 
 

   0.04   

 
 

   8   

 
 

   137   

 
 

   2.36   

 
 

  and  

 
 

   93.00   

 
 

   100.00   

 
 

   7.00   

 
 

   0.44   

 
 

   0.36   

 
 

   0.03   

 
 

   0.7   

 
 
 

   0.02   

 
 

   7   

 
 

   49   

 
 

   6.90   

 
 

  and  

 
 

   148.00   

 
 

   150.00   

 
 

   2.00   

 
 

   1.21   

 
 

   1.18   

 
 

   0.01   

 
 

   2.0   

 
 
 

   0.01   

 
 

   76   

 
 

   93   

 
 

   1.97   

 
 

   LRD171   

 
 

  79.00  

 
 

  97.00  

 
 

  18.00  

 
 

  1.03  

 
 

  0.94  

 
 

  0.03  

 
 

  2.2  

 
 
 

   0.01   

 
 

   5   

 
 

   83   

 
 

   14.74   

 
 

  including  

 
 

   79.00   

 
 

   94.90   

 
 

   15.90   

 
 

   1.15   

 
 

   1.04   

 
 

   0.03   

 
 

   2.4   

 
 
 

   0.01   

 
 

   6   

 
 

   88   

 
 

   13.02   

 
 

  including  

 
 

   85.00   

 
 

   94.90   

 
 

   9.90   

 
 

   1.70   

 
 

   1.57   

 
 

   0.04   

 
 

   3.6   

 
 
 

   0.02   

 
 

   6   

 
 

   104   

 
 

   8.11   

 
 

  including  

 
 

   92.00   

 
 

   94.90   

 
 

   2.90   

 
 

   4.28   

 
 

   4.08   

 
 

   0.06   

 
 

   8.9   

 
 
 

   0.05   

 
 

   12   

 
 

   209   

 
 

   2.38   

 
 

  and  

 
 

   123.00   

 
 

   130.00   

 
 

   7.00   

 
 

   0.56   

 
 

   0.40   

 
 

   0.06   

 
 

   0.9   

 
 
 

   0.01   

 
 

   45   

 
 

   51   

 
 

   5.73   

 
 

  and  

 
 

   183.25   

 
 

   184.15   

 
 

   0.90   

 
 

   3.64   

 
 

   3.59   

 
 

   0.01   

 
 

   2.7   

 
 
 

   0.02   

 
 

   18   

 
 

   103   

 
 

   0.74   

 
 
 
 
 
 

    1   Copper Equivalent = CuEq. CuEq is calculated using Cu, Sn, and Ag grades. Metallurgical recoveries include 86% for Cu, 68% for Sn and 56% for Ag, based on preliminary studies performed by Wardell Armstrong International and MinePro. The CuEq calculation uses US$ 8,693/tonne Cu, US$ 29,069/tonne Sn and US$ 23.72/oz Ag, corresponding to the three-year monthly price averages to July 2023. The effective formula is [CuEq %] = [Cu %] + 2.6440 * [Sn %] + 0.0057 * [Ag ppm]   

 
 
 

  Table 2   – La Romana drill hole collar information (5 holes, total 792.10m )  

 
 
                                    
 

   Hole ID   

 
 

   Easting 2   

 
 

   Northing 2   

 
 

   Azimuth ( o )   

 
 

   Dip ( o )   

 
 

   Depth (m)   

 
 

  LRD167  

 
 

  735976  

 
 

  4152716  

 
 

  156  

 
 

  -50  

 
 

  122.15  

 
 

  LRD168  

 
 

  735954  

 
 

  4152761  

 
 

  180  

 
 

  -50  

 
 

  125.55  

 
 

  LRD169  

 
 

  735865  

 
 

  4152803  

 
 

  240  

 
 

  -60  

 
 

  191.65  

 
 

  LRD170  

 
 

  735866  

 
 

  4152806  

 
 

  180  

 
 

  -55  

 
 

  155.65  

 
 

  LRD171  

 
 

  735866  

 
 

  4152807  

 
 

  0  

 
 

  -90  

 
 

  197.1  

 
 
 
 
 
 

   2 Coordinate system: UTM29N ERTS89   

 
 
 
  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 2024. The Escacena Project hosts the La Romana copper-tin-silver discovery and a number of other prospective targets, including Cañada Honda, Romana North, Bravo, Barbacena, El Pozo, San Pablo, Zarcita, Hornitos, La Jarosa, and Romana Deep .

  

 Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain , where infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one jurisdiction for mining investment. The Pan Global team comprises proven talent in exploration, development, and mine operations - all of which are committed to operating safely and with utmost respect for the environment and our partnered communities.

 
  QA/QC Procedures  
 

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 analysis was by 50gm fire assay with ICP finish (method Au-ICP22) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62). Over grade tin was determined using peroxide fusion with ICP finish (method Sn-ICP81x).

 
  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 media release. Mr. Royall is not independent of the Company.

 

On behalf of the Board of Directors

 

   www.panglobalresources.com   

 
   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.

 

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.) 

 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/pan-global-intersects-1-04-copper-over-15-9-meters-at-western-expansion-of-la-romana-copper-tin-silver-discovery-301979335.html  

 

SOURCE Pan Global Resources Inc. 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2023/07/c5548.html  

 
 

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

 

  TSXV: PGZ   |   OTCQX: PGZFF  

 

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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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  TSXV: PGZ  |  OTCQX: PGZFF  

 

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  TSXV: PGZ | OTCQX: PGZFF  

 
  • Romana West drilling extends La Romana mineralization 150m to the west
  •  
  • Copper-tin grades increasing to the west
  •  
  •   Investor webcast with CEO Tim Moody to discuss results will be held on Wednesday, September 20, 2023 at 11 a.m. Eastern Time / 8 a.m. Pacific Time . Details at end of this release  
  •  

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*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) 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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(TheNewswire)

 
       
  Noble Mineral Exploration Inc. 
                
 

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