PAN GLOBAL SECURES SURFACE ACCESS TO EXPLORE A 680 HECTARE AREA WEST OF THE LA ROMANA COPPER-TIN DISCOVERY AT THE ESCACENA PROJECT, SPAIN

PAN GLOBAL SECURES SURFACE ACCESS TO EXPLORE A 680 HECTARE AREA WEST OF THE LA ROMANA COPPER-TIN DISCOVERY AT THE ESCACENA PROJECT, SPAIN

TSXV: PGZ      OTCQB: PGZFF

  • Exploration to commence immediately at Romana West, including ground geophysics and an initial 25-30 drill hole program

  • Potential to extend the current 1,200m strike-length of the La Romana mineralization a further 800- 1,000m to the west

  • Surface access agreement allows exploration to also commence at three additional untested targets: Barbacena, El Pozo and Romana North

Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) is pleased to announce that a surface access agreement has been reached clearing the way for exploration and drilling to commence immediately on the Romana West target. The Romana West target is on-strike from the La Romana copper-tin-silver discovery at the Company's 100%-owned Escacena Project ("Escacena") in the Iberian Pyrite Belt, southern Spain . The agreement also provides access to several other large untested gravity and heliborne-electromagnetic (HEM) targets within Escacena.

"This access agreement is a significant breakthrough on a largely unexplored part of Escacena and allows exploration to commence immediately on the potential on-strike continuation of the near-surface La Romana copper-tin-silver mineralization at the Romana West target," said Tim Moody , Pan Global President and CEO. "Gaining access to Romana West follows on from the strong relationships already established and developed with local communities. The access agreement also allows exploration to begin on several other compelling gravity and HEM targets at Escacena that are untested. Pan Global will expand geochemical sampling and ground geophysics to this area and execute a drill plan on the Romana West target testing a further 800-1,000 meters along strike west of the La Romana copper-tin-silver mineralization."

The access agreement opens up 680 hectares of Escacena to exploration for the next three years, with potential to continue beyond this period. The area represents 12% of the existing Pan Global mineral rights at the Escacena Project and has remained largely unexplored since the mineral rights were granted. This includes the potential western extension of the La Romana discovery at the Romana West target as well as the Romana North, Barbacena, and El Pozo targets. See Figure 1 below.

While the agreement encompasses a number of targets, the priority is Romana West. The Romana West target includes the westward projection of a large gravity anomaly coincident with the La Romana mineralization and indicates potential to extend the La Romana mineralization a further 800 to 1,000m . Ground geophysics, including detailed gravity and IP, will commence immediately at Romana West and two drill rigs will begin mobilizing to the area. Drilling to-date at La Romana shows the mineralization extends over approximately 1.2 kilometers of strike and remains wide open to the west in the direction of the historical La Romana mine workings and Romana West target. The mineralization also remains open down dip in several areas.

The planned drill program at Romana West includes an initial 25 to 30 drill holes on north-south lines approximately 100m apart to delineate the western extent of the near-surface La Romana mineralization.

Exploration will also expand to the largely unexplored Barbacena, El Pozo, and Romana North targets as part of the ongoing systematic exploration program to define and prioritize further targets for drill testing.

Figure 1 – Escacena Project Map highlighting the area covered by the new surface access agreement and target locations, including the La Romana discovery. (CNW Group/Pan Global Resources Inc.)

Drill rigs are currently operating at the La Romana and Cañada Honda and results are pending for approximately 20 drill holes at La Romana, Cañada Honda, and Zarcita. Negotiations are also continuing with land owners for access along strike to the east of the La Romana mineralization and the Bravo target.

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

www.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. 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.

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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
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  • 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 .

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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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Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce an update on the Reward Gold mine start up, with powering the plant up now completed and mechanical commissioning underway.

The processing facility rebuild, refurbishment and installation has progressed safely, efficiently and to plan, with the focus now turning to dry and wet commissioning of the respective operating circuits.

HIGHLIGHTS

- Vertex power up the newly installed Gravity Gold plant at the Reward Gold Mine.

- The Power generation units have now been installed and plugged into the Gravity plant.

- The plant components are now all installed and connected electrically.

- Completion of the dry stack tailing storage facility and tailings pipework installation.

- The plant can now be started up and mechanically tested and operated.

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- Ore Sorter installation will be a retrofitted in early January

- Commissioning will be with stockpiled gold ore located alongside the gold plant

Vertex's Executive Chairman, Roger Jackson, said: "On time and within budget, the refurbishment and installation activities at the Reward gravity gold processing plant are almost complete with power up testing now underway. Our focus is now switching to dry and wet commissioning in the lead up to first gold next month. This is an exciting milestone for the company given the quality of the plant and the low capex required to get to this stage".

The Reward gold mine is well placed for a simple start -up:

- The new processing plant has been installed adjacent to the underground mine portal (640 Level) and over the existing footprint of the existing plant

- The 640 Level extends into the resource and no stripping required.

- Second egress in place with existing ladder way from 640 Level to surface.

- Some underground fleet and utility services are already owned by Vertex. With new fleet arriving.

*To view photographs, please visit:
https://abnnewswire.net/lnk/B92995G8



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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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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