Pan Global Announces Drill Program on Eight Copper Targets in the Escacena Project, Spain
Pan Global Announces Drill Program on Eight
Copper Targets in the Escacena Project, Spain
Vancouver, British Columbia--(Newsfile Corp. - September 28, 2022) - Pan Global Resources Inc.
(TSXV: PGZ) (OTC Pink: PGNRF)
("Pan Global" or the "Company") is pleased to announce that
drilling is underway at the Hornitos and La Jarosa targets and that multiple new targets have been
identified for drill testing at the Company's 100%-owned Escacena Project in the Iberian Pyrite Belt,
southern Spain.
Tim Moody, Pan Global President and CEO states: "Drilling has continued at Escacena with up to four
drill rigs operating since January. The current plan includes testing at least six new targets in the
Escacena Project in addition to continuing to expand the copper and tin mineralization at La Romana.
We are excited at the potential to make further copper discoveries with drilling now initiated on several
new targets, all within 5km of our near-surface La Romana copper-tin discovery. Ongoing exploration
continues to generate multiple high-priority drill targets. Drilling is underway at the Hornitos and La
Jarosa targets and is due to commence shortly at the Pilar, Zarcita and La Romana Deep targets. This
is the first time most of the new targets will be drill tested. The fact that we are already seeing evidence
of copper, lead and zinc mineralization in some of our first holes on new targets at Hornitos and La
Jarosa is very encouraging with assay results awaited. Assay results are also pending for 14 drill holes
at the La Romana discovery."
Mr. Moody added: "Pan Global is in a strong financial position and remains well funded to allow drilling
to continue at an aggressive pace into 2023."
Highlights include
:
New gravity survey data, soil geochemistry, heliborne electro-magnetic and IP data shows multiple
coincident anomalies
New conductor anomaly identified 400m down-dip from La Romana
11 targets prioritized for drilling and/or additional ground follow-up
Drilling now focussed on new targets, including La Romana Deep, Zarcita, Hornitos, La Jarosa, El
Pilar, El Pilar South, Cañada Honda and Bravo Norte
Drilling in-progress at Hornitos and La Jarosa, and about to commence at the El Pilar, Zarcita and
La Romana Deep targets
First two drill holes at Hornitos have intersected 15-18m thick zones of "crackle" breccia-hosted
sphalerite (zinc) and galena (lead) mineralization (assay results pending)
Figure 1
- Escacena Project gravity anomalies and priority targets
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_001full.jpg
Table 1
- Escacena Project: Priority target summary and planned drill holes
Target
Area
(km)
Geology /
mineralization
Mine
workings
Gravity
Anomaly
HEM Anomaly
IP Anomaly
Soil Geochem
Holes
Planned
Romana Deep
2 x 0.6
Tertiary cover,
altered
volcanic
La Romana
Cu updip
Large
Yes
-
Large Cu
anomaly
2
Zarcita
2.5 x 0.8
Gossan,
Altered
volcanics
Historical Cu
workings
Series of
highs
Yes
Chargeability,resistivity
low
Large Cu
anomaly
12
Hornitos
3.3 x 0.5
Altered
volcanic shales
El Pozo mines
west
Series of
highs
Yes
Chargeability highs
Large PbZn
anomaly
3
Jarosa
2.3 x 1
Drill hole
LJD01 copper
2 km SW of
Aznalcollar
Series of
highs
Yes
Chargeability highs
-
7
Pilar
2 x 0.3
Tertiary cover -
"blind target"
3km SW of
Aznalcollar
Large
Yes
-
-
4
Pilar S
1 x 2
Tertiary cover -
"blind target"
4km SSW of
Aznalcollar
Large
-
-
-
2
Cañada
Honda
1.6 x 1
Altered
volcanic
Phyllite, Qtzite
Historical
works to S
Large
-
Chargeability,
resistivity low
Cu anomaly
2
Bravo N
1 x 0.6
Tertiary cover -
"blind target"
1km SW of La
Jarosa
Large
Yes
Chargeability high
-
1
Bravo
2 x 1
Tertiary cover,
volcanics
2km East of La
Romana
Large
Yes
-
-
Pending
follow-up
Barbacena
1.5 x 0.5
Tertiary cover -
"blind target"
2km NW of La
Romana
Large
Yes
-
Cu Zn - open
west
Pending
follow-up
El Pozo
1.2 x 0.5
Altered
volcanics
Historical
mine works
Small
Yes
-
-
Pending
follow-up
Gravity survey
Pan Global expanded its ongoing 100m x 50m gravity survey over the entire Escacena Project area
throughout the year with data collected on more than 5,500 new gravity stations. Eleven large gravity
targets have been selected for initial follow-up. The results confirm and provide additional detail over
gravity targets previously identified from wider-spaced historical gravity data (see Figure 1 above).
Testing gravity-high anomalies has proven highly effective in the Iberian Pyrite Belt for discovering
volcanogenic massive sulphide mineralization. The first drill holes at the La Romana copper tin discovery
intersected significant mineralization after testing a gravity anomaly, with copper mineralization
intersected in nearly all 130 drill holes completed to date on the target.
Figure 2
- Portable-XRF copper and zinc soil geochemistry anomalies
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_002full.jpg
Soil geochemistry survey
A multi-element portable X-Ray fluorescence (pXRF) spectrometer soil geochemistry survey has been
conducted over approximately 20% of the Escacena Project area. Copper and zinc anomalies are
highlighted in Figure 2 above. The results highlight a 1.5 x 1.5km discrete copper anomaly open to the
east and west above the La Romana mineralization. Large copper and/or zinc anomalies are coincident
with and in-part define the Hornitos, Zarcita, Barbacena and El Pozo targets.
Escacena Project - Priority Drill Targets
The extensive and ongoing exploration campaign at Escacena has identified 11 high priority targets for
drill testing and/or further ground work outside of the La Romana discovery (see Table 1 above). The
targets were selected using a combination of gravity, heliborne electromagnetics (HEM) data collected
earlier this year (PGZ news release, February 23, 2022), soil geochemistry, induced polarization (IP)
surveys and geological mapping. The scale, nature and quality of several of these targets are illustrated
below in figures 3 to 8.
Up to 40 drill holes are currently planned on eight new targets, including La Romana Deep, Zarcita, La
Jarosa, Hornitos, Pilar, Pilar South, Cañada Honda and Bravo Norte. Drilling is already underway at
Hornitos and La Jarosa and is due to commence shortly at the Zarcita, El Pilar and La Romana Deep
targets.
Hornitos Target - Drill holes intersect Pb-Zn mineralization
The initial drilling at the Hornitos target (drill holes HOD01 and HOD02) have both intersected crackle
breccia/stockwork style sphalerite (Zn) and galena (Pb mineralization. HOD01 tested a coincident Pb-Zn
soil anomaly, IP chargeability and weak gravity high, and intersected Pb-Zn mineralization over a 15m
interval from approximately 99m downhole. HOD02, drilled from the same collar position as HOD01 and
testing the downdip extension to the mineralization, intersected approximately 18m with Pb-Zn
mineralization from 114m downhole. Assays are pending.
Figure 3
-
La Romana Deep Target:
Heliborne-EM cross section showing conductor anomalies
coincident with the La Romana mineralization and downdip at La Romana Deep. The La Romana Deep
EM anomaly is apparent across several lines at approximately 400m depth and well beyond previous
drilling at La Romana.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_003full.jpg
Figure 4
-
Zarcita Target:
Plan view showing coincident soil-copper (top) and gravity anomaly trends
(bottom), historic mines, alteration, heli-EM conductor and planned drill holes. The trend extends over
2.5km east-west partially beneath thin post-mineral sediments. Copper mining ceased at Zarcita at the
start of World War 1.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_004full.jpg
Figure 5
-
Hornitos Target:
Geology map showing the planned drill hole locations and recently
completed holes HOD01 and HOD2, along a 3.3km target trend defined by coincident altered volcanics,
IP chargeability, gravity and Pb-Zn soil anomalies. The historic El Pozo mine workings occur at the
western end of the trend.
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_005full.jpg
Figure 6
-
La Jarosa Target:
Plan view of the La Jarosa Target area with planned and completed drill
holes, and gravity anomaly and coincident IP trend.
To view an enhanced version of Figure 6, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_006full.jpg
Figure 7
-
La Jarosa East Target:
Orthogonal view of the La Jarosa East target with coincident north-
dipping heliborne-EM conductor and gravity anomaly.
To view an enhanced version of Figure 7, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_007full.jpg
Figure 8
-
El Pilar
Target:
Oblique view of the Pilar Target with 2 planned drill holes designed to test a
coincident Heliborne-EM (HEM) anomaly and gravity anomaly.
To view an enhanced version of Figure 8, please visit:
https://images.newsfilecorp.com/files/5190/138630_f163fcc7240d0b6d_008full.jpg
Quality Control/Quality Assurance
The gravity survey was contracted by Geognosia SL and points were collected every 50m on north-south
lines spaced 200m apart. These were then infilled to 100m x 50m and in areas of high interest to 50m x
50m. Goegnosia used a SCINTREX CG 5 y LeCoste Romberg gravity meter and topography was
collected using an EMLID Reach RS2 Multiband GNSS receiver. Geognosia SL were also contracted
for IP surveying using an IRIS Elrec Pro receiver with 10 channels. The method used dipole-dipole with
100m spacing. Terra Resources Geophysical-Geological Consulting provide additional review of the
geophysical data.
Soil samples were collected by Pan Global staff on 100m x 50m or 200m x 50m north-south profiles.
Samples were collected from the B / C horizon approximately 15cm to 20cm from the surface. Samples
were initially analysed using an Olympus Vanta Portable XRF and check analysis was completed at ALS
using 4 acid digest. Gold was analysed using 30gm Fire assay with ICP finish. Sufficient duplicates and
certified reference materials were inserted during the sampling and analysis.
All coordinates are in ERTS89 (geodetic reference), UTM29N.
About the Escacena Project
The Escacena Project includes a large, plus 5,760-hectare land package controlled 100% by Pan
Global in the east of the Iberian Pyrite Belt. The project is located near operating mines at Las Cruces
and Rio Tinto, and is immediately adjacent to the former Aznalcollar and Los Frailes mines where Grupo
Mexico is in the permitting stage to restart mining.
The Escacena Project hosts the La Romana copper-
tin discovery and a number of other prospective targets, including La Jarosa, Hornitos, Zarcita, Pilar,
Bravo and Barbacena.
About Pan Global Resources
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, VP 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
.
FOR FURTHER INFORMATION, PLEASE CONTACT:
+44 7766 253145
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