Pan Global Resources

Overview

Spain’s diverse geological resources and deposits position it as the world’s third-largest producer of copper ore, the leading producer of spar-fluorine and one of only four European states that produce nickel ore. The provinces of Huelva and Sevilla in Spain are hosts to the Iberian Pyrite Belt - one of the world’s greatest regions hosting metallic mineral deposits where greater than 2,000 million tonnes of ore have been extracted.

Pan Global’s land package in the Iberian Pyrite Belt totals approximately 5,760 hectares and lies directly adjacent to the Aznalcóllar (more than 70 million tonnes) and Los Frailes (more than 90 million tonnes) deposits. The Escacena Project is also located only 12 kilometers from the active Cobre Las Cruces mine (42 million tonnes at 2.95 percent copper), which has produced mining grades of more than 5 percent copper in the open pit.

Pan Global is currently focusing on three targets at Escacena: the La Romana massive sulfide copper-tin-silver mineralization, the Cañada Honda gravity anomaly and the Zarcita gravity anomaly. Recent drill results at the La Romana target have returned high multi-metal (copper, tin, silver) grades from near surface with 99 percent of holes hitting mineralization, and with potential to increase in size as Romana West drilling occurs along strike. Escacena’s exceptional land position, great infrastructure, and multiple large untested targets make it an exciting prospect for the company. The below graphic shows the project area and multiple targets in the immediate region of La Romana. Surface access is currently being negotiated from Romana East where the large anomaly Bravo sits.

Exploration Targets at the Águilas Project

Since 2017, Pan Global has been exploring the Águilas Project, which comprises more than 16,000 hectares in northern Andalucía, Spain. The Águilas Project contains several major faults and breccia structures with indications of hematite-dominant iron oxide copper-gold (IOCG) and polymetallic lead-zinc-silver mineralization. With two major fault trends indicating numerous historic lead, silver, and copper mine works, Pan Global will continue to explore this highly prospective project.

Company Highlights

• Pan Global’s exploration activities are focused on Andalucía, Spain, an area with more than 2,000 years of active mining history.
• Flagship Escacena Project is located in Spain’s Iberian Pyrite Belt, where the world’s largest volcanogenic massive sulfide (VMS) deposits are found and home to seven operating mines owned by companies such as Lundin, Grupo Mexico, Sandfire MATSA, First Quantum, and Atalaya, plus juniors that include Avrupa Minerals, Ascendant Resources and Emerita Resources.
• The Escacena Project includes the recent La Romana copper-tin-silver discovery and 13 additional large targets – most as yet untested. The project is located adjacent to the Aznalcóllar-Los Frailes mines and only 12 kilometers from the active Cobre Las Cruces mine, once one of the highest-grade, open-pit copper mines in the world.
• In May 2023, a surface access agreement increased access to four different highly prospective targets at Escacena, including the 800 meters of potential strike at the Romana West target adjacent to the La Romana copper-tin-silver mineralization.
• The Águilas Project located 200 kilometers northeast of Escacena has returned high-grade drill intervals up to 16.85 percent lead, 1.9 percent zinc and 85 grams per ton (g/t) silver.
• The fully funded 2023 exploration program covers 20,000 meters with an estimated budget of C$8.5 million.
• Pan Global’s strong management team has a track record of discoveries in Spain and brings decades of resource industry experience and expertise to the company.