Continued Positive Results ON the Aguilas Copper Project, Spain
1199 West Hastings Street, Suite 700, Vancouver, BC V6E 3T5
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June 15, 2017
Shares Issued and Outstanding: 60,085,387
TSXV: PGZ
CONTINUED POSITIVE RESULTS ON THE AGUILAS COPPER PROJECT,
SPAIN
VANCOUVER, BRITISH COLUMBIA – (June 15, 2017) – Pan Global Resources
Inc. (“Pan Global” or the "Company") (TSX Venture Exchange: PGZ) herein provides
an update on the latest prospecting and sampling results from the Aguilas Copper
Project in Spain.
The company manages the Aguilas Project through its agreement to acquire
Spanish company, Minera Aguila SLU. Minera Aguila SLU holds the Las Aguilas I, II
and III Investigation Permit applications, referred to as the “Aguilas Project”. The
mineral rights cover approximately 11,302.5 hectares within the Pedroches Batholith,
in northern Andalucia, Spain (Figure 1).
Prospecting in the Aguilas Project has focused on identifying the extent and nature
of the copper mineraliz ation on the Torrubia Copper Trend . Previously reported
results included 25 rock grab samples with values ranging from 1% to 28% copper
and up to 33% iron, 1.7g/t gold, 17.5g/t silver, 0.13% cobalt, along with anomalous
levels of uranium, nickel and light rare earth metals (lanthanum and scandium) . The
copper is associated with numerous small ancient mine workings, multi -stage
hydrothermal quartz-hematite-carbonate breccia and “red rock” alteration. The metal
association, style of minerali zation and alteration are typical of hematite dominant
iron oxide copper gold (IOCG) type ore deposits such as occur in the Cloncurry and
Olympic Dam districts in Australia and elsewhere. There has been very little
previous exploration in the area and no drilling on the copper trend. Re-evaluation of
the historic Zumajo lead-silver mine trend within the Aguilas project area has also
commenced.
The latest exploration in the Aguilas Project has extended the copper mineralization
on the Torrubia C opper Trend and identified similar style copper mineralisation on a
separate structure at Los Lazos. Definitive Admission of the Aguilas I and Aguilas II
Investigation Permits is on track for early July.
Highlights from the latest sampling are provided below:
Aguilas Project Highlights
• A total of 10 6 rock grab samples of float and outcrop have been collected in
the Aguilas Project area. New results were received for 37 samples.
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• This includes results for 29 new samples collected on the Torrubia Copper
Trend with values up to 1.35% Cu, 3.6g/t Ag, 0.23g/t Au, 513ppm Co,
180ppm U and 28.4% Fe.
• The results have extended the of copper ± silver, gol d, cobalt, uranium and
iron mineralisation along strike approximately 200 metres to the sout h on the
Torrechuela segment of the Torrubia Copper Trend.
• Copper associated with “IOCG” style quartz -hematite ± carbonate breccia
mineralisation has now been identified over approximately 3.1 kilometres
strike length in two sections and remains open. This includes potentially
continuous copper mineralisation along a 2.6 kilometre section from Cerro de
Torrubia in the northeast to Torrechuela in the southwest , and a >0.5
kilometre section at Cerro del Aguila where the structure appears to be
several tens of metres wide.
• A total of 8 samples were collected in the northwest of the Aguilas P roject
area on the Los Lazos structure. The results include 5 samples with val ues
ranging from 0.24% to 2.82% Cu, and up to 2.1g/t Ag, 0.03g/t Au, 276ppm
Co and 8.24% Fe. The copper mineralisation and associated quartz-hematite
breccia has been traced over approximately 0.5 kilometres along a northeast
trend with minor small mine workings.
• The new results confirm potential t o discover copper elsewhere within the
property. Interpretation and reprocessing of publically available gravity,
magnetics and radiometrics data for the area is underway to help prioritise
targets for follow-up.
Detailed sampling and geophysics will now focus on those sections of the Torrubia
Copper Trend with the highest copper values.
Other news
Notice was received on May 31, 2017, requesting the technical information for
publication of the Aguilas I and Aguilas II Investigation Permits. Definitive Admission
of the mineral rights is anticipated by early July. Definitive Admission of the Aguilas
III Investigation Permit is expected to follow shortly thereafter.
On June 8, 2017, the TSX Venture Exchange a ccepted for filing the Letter of Intent
dated May 15, 2017 between Pan Global Resources Inc. (the Company) and Evalam
2003 S.L. whereby the Company may acquire a 100% interest in the Escacena
Property consisting of one exploration license (2,060 hectares) in the Iberian Pyrite
Belt in southern Spain. Consideration is $350,000 cash and $1,000,000 in
exploration work commitments over a 3-year period. The Vendor will retain a NSR of
0.5% on the first 12,500 tonnes of copper equivalent and 0.75% on any amount i n
excess of 12,500 tonnes of copper equivalent. The NSR has a lifetime cap of
$5,000,000. Final due diligence and digital compilation of the historical exploration
data is currently underway.
Qualified Person
Robert Baxter (FAusIMM), a Director of Pan Gl obal Resources and a qualified
person as defined by National Instrument 43- 101, has reviewed the scientific and
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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 Spain, and is pursuing opportunities from exploration through to mine
development.
On behalf of the Board of Directors
www.panglobalresources.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
MICHELLE BORROMEO
Investor Relations
E-mail: [email protected]
Phone: +1 604-715-6845
Statements which ar e 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 materiall y 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.
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Figure 1 – Aguilas Project Location