Pan Global Continues Intersecting near Surface Copper-Tin Mineralization at the Escacena Project, Southern Spain and Expands Mineralized Footprint 19.4m at 1% CuEq, including 11.9m at 1.3% CuEq New results confirm continuity and expand the near-surface copper-tin mineralization
Pan Global Continues Intersecting near
Surface Copper-Tin Mineralization at the
Escacena Project, Southern Spain and
Expands Mineralized Footprint
19.4m at 1% CuEq, including 11.9m at 1.3% CuEq
New results confirm continuity and expand the near-surface copper-tin mineralization
which remains open in several directions
Drilling commences on new IP targets to the north
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2021) - Pan Global Resources Inc. (TSXV:
PGZ) (OTC Pink: PGNRF) ("Pan Global" or the "Company") is pleased to announce new high-grade
copper and tin intercepts as drilling continues at the La Romana copper/tin target at the Escacena
Project. La Romana is located approximately 6km southwest of the former Aznalcollar open pit mine and
approximately 15km west of the Las Cruces copper mine, in the Iberian Pyrite Belt, southern Spain.
Tim Moody, Pan Global President and CEO states: "The new drill holes at La Romana confirm
additional continuity of the near-surface copper and tin mineralization over a strike of more than 1 km.
The mineralization remains wide open to the west towards the La Romana mine workings and down dip.
The new results also expand supergene enrichment style copper mineralization in the east with individual
assays up to 8.7% Cu in hole LRD69 and supergene copper evident over almost 50m in hole LRD64.
Results are awaited for 20 additional drill holes.
I'm also very pleased to report that permitting on the
adjoining Al Andalus property is imminent.
This will provide access to several large gravity targets
immediately to the east of La Romana and on the same trend as the Aznalcollar mine."
Highlights include
:
19.4m at 1.0% CuEq
(0.6% Cu, 0.11% Sn, 3.4g/t Ag) from 45m in drill hole
LRD70
, including
11.9m at 1.3% CuEq
(0.7% Cu, 0.16% Sn, 3.8g/t Ag)
19.5m at 0.9% CuEq
(0.5% Cu, 0.11% Sn, 2.3g/t Ag) from 21m in
LRD68
, including
7.5m at 1.2% CuEq
(0.7% Cu, 0.15% Sn, 3.6g/t Ag)
18m at 0.74% CuEq
(0.7% Cu, 3.3g/t Ag) - supergene copper from 32m in
LRD69
, including
5.5m at 1.8% CuEq
(1.6% Cu, 8g/t Ag)
49m at 0.6% CuEq
(0.4% Cu, 0.04% Sn, 2.1g/t Ag) - supergene copper from 23m in
LRD64
,
including
4.5m at 1.6% CuEq
(1.4% Cu, 0.06% Sn, 3.8g/t Ag) and
3m at 1.1% CuEq
(0.8% Cu, 0.05% Sn, 4.1g/t Ag) and
3m at 1.0% CuEq
(0.8% Cu, 0.05% Sn, 3.7g/t Ag) and
3m at 1.1% CuEq
(0.8% Cu, 0.07% Sn, 3.3g/t Ag)
6m at 1.2% CuEq
(1.0% Cu, 0.04% Sn, 5g/t Ag) from 139m and
3.15m at 1.6% CuEq
(1.3% Cu,
0.03% Sn, 7.5g/t Ag) from 213m in hole
LRD84
27m at 0.62 CuEq
(0.5% Cu, 0.03% Sn, 2.7g/t Ag) from 6m in
LRD61
, including
3m at 1.3% CuEq
(0.9% Cu, 0.08% Sn, 4.3g/t Ag) and
4m at 1.3% CuEq
(1.0% Cu, 0.03% Sn, 5.6g/t Ag)
Figure 1
- La Romana geophysics targets and drill hole locations with selected highlights. New drill
holes are highlighted in orange.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5190/98783_3ea4e0fbf4e5e8a0_001full.jp
Drill results
The latest drill results are from twelve new holes in the Phase 4 drill program at the La Romana
discovery. The drill program is continuing to test extensions of the copper and tin mineralization in all
directions.
Drill holes LRD 61, 64, 68, 69, 70, 72 and 75 targeted up-dip or near-surface mineralization. Holes LRD
71, 73 and 84 tested down-dip extensions. Holes 63 and 66 are located in the footwall to the main
copper mineralization.
Drill hole locations are shown in Figure 1 above. Drill hole collar information is provided in Table 1
below. Assay results are summarized in Table 2. The drill holes were all inclined towards the south and
all reported drill intervals are approximately true widths.
Table 1
Escacena Project, La Romana drill hole collar information (Total 2195.55m)
Hole ID
Easting
1
Northing
1
Azimuth (º)
Dip (º)
Depth (m)
LRD61
736526
4152629
180
-55
158.2
LRD63
736637
4152541
180
-60
107.25
LRD64
736735
4152595
180
-60
115
LRD66
736786
4152621
180
-55
131.1
LRD68
736235
4152651
180
-55
208
LRD69
736936
4152592
180
-55
103.45
LRD70
736236
4152691
180
-55
176
LRD71
736882
4152920
180
-80
401.5
LRD72
736185
4152672
180
-55
163.8
LRD73
736438
4152763
180
-70
233.8
LRD75
737087
4152663
180
-55
164.25
LRD84
736485
4152800
180
-55
233.2
1
Coordinates are in ERTS89 datum UTM29N
Table 2
- Escacena Project, La Romana drill results summary
Hole
Fr
To
Int
CuEq
1
Cu
Sn
Ag
Co
Au
Pb
Zn
m
%
%
ppm
g/t
ppm
g/t
ppm
ppm
LRD61
6.00
35.00
27.00
0.62
0.47
270
2.7
71
0.01
85
222
10.00
13.00
3.00
1.28
0.93
825
4.3
104
0.01
19
262
14.00
18.00
4.00
1.27
1.05
300
5.6
109
0.01
40
244
LRD63
30.30
59.00
28.70
0.34
0.17
294
1.6
78
0.03
354
253
30.30
39.00
8.70
0.38
0.23
216
2.1
76
0.02
302
279
30.30
30.80
0.50
1.28
0.97
481
7.1
99
0.03
687
197
51.00
53.10
2.10
0.84
0.53
708
1.5
78
0.05
267
224
54.00
59.00
5.00
0.39
0.22
353
1.2
57
0.03
265
223
LRD64
23.00
72.00
49.00
0.60
0.43
376
2.1
67
0.01
134
403
23.00
27.50
4.50
1.58
1.34
561
3.8
35
0.01
276
561
39.00
57.00
18.00
0.71
0.50
448
2.5
72
0.01
122
519
43.00
46.00
3.00
1.07
0.82
489
4.1
102
0.01
47
1008
47.00
50.00
3.00
1.01
0.78
462
3.7
71
0.01
24
383
52.00
55.00
3.00
1.09
0.80
683
3.3
70
0.01
64
405
LRD66
16.00
103.00
87.00
0.24
0.12
189
1.3
62
0.01
127
330
16.00
55.00
39.00
0.26
0.16
159
1.4
61
0.01
114
347
51.35
51.70
0.35
1.96
1.39
333
14.2
433
0.08
689
2930
70.00
71.75
1.75
1.40
1.12
327
6.4
155
0.02
101
386
71.05
71.75
0.70
3.12
2.59
557
14.6
287
0.04
226
615
LRD68
17.75
42.00
24.25
0.77
0.42
944
2.1
85
0.01
75
145
21.00
40.50
19.50
0.86
0.45
1110
2.3
95
0.01
80
152
33.00
40.50
7.50
1.23
0.69
1503
3.6
98
0.01
125
233
157.75
158.05
0.30
2.60
0.99
4690
8.90
131
0.08
26
364
172.65
172.85
0.20
1.56
1.41
53
3.10
112
0.05
17
146
LRD69
25.30
57.00
31.70
0.50
0.43
37
2.3
44
0.01
235
235
32.00
50.00
18.00
0.74
0.65
35
3.3
49
0.01
369
258
35.25
40.30
5.05
1.83
1.65
40
8.0
80
0.02
758
240
39.00
40.30
1.30
5.14
4.62
113
26.3
184
0.07
2366
530
LRD70
41.00
73.30
32.30
0.73
0.40
884
2.3
84
0.01
61
178
45.00
64.40
19.40
1.00
0.58
1104
3.4
94
0.01
87
221
52.50
64.40
11.90
1.28
0.70
1614
3.8
114
0.01
19
162
52.50
53.85
1.35
2.36
1.20
3486
6.6
108
0.01
46
130
61.80
64.40
2.60
2.41
1.49
2437
8.6
174
0.01
26
360
67.15
67.80
0.65
1.52
0.20
4250
1.3
115
0.01
45
92
LRD71
179.20
179.55
0.35
0.19
0.09
27
4.9
21
0.02
4060
10300
293.45
293.80
0.35
3.75
3.38
71
9.7
269
0.10
52
137
331.50
331.90
0.40
2.46
2.16
71
10.5
172
0.06
47
216
363.85
364.05
0.20
1.68
1.26
60
7.8
250
0.20
325
938
365.00
365.20
0.20
2.51
1.96
63
10.9
362
0.24
542
727
LRD72
22.00
53.00
31.00
0.61
0.34
677
2.1
68
0.01
86
181
34.95
48.00
13.05
0.83
0.44
1046
2.4
74
0.01
57
152
34.95
35.15
0.20
4.08
2.62
3170
19.9
282
0.16
299
1260
38.50
41.00
2.50
1.25
0.67
1627
3.6
94
0.02
22
114
38.50
38.80
0.30
5.39
3.47
5000
20.8
199
0.12
121
174
43.50
48.00
4.50
1.02
0.54
1351
3.0
76
0.01
128
196
47.50
48.00
0.50
3.63
1.44
6660
13.3
143
0.02
1040
369
52.00
53.00
1.00
1.26
0.55
2130
2.3
93
0.02
98
159
LRD73
117.00
127.00
10.00
0.51
0.36
289
2.2
63
0.01
142
594
122.00
126.00
4.00
0.80
0.58
446
3.6
70
0.01
226
738
207.60
208.70
1.10
0.59
0.04
119
12.1
78
0.37
7010
7850
LRD75
105.00
115.00
10.00
0.13
0.05
31
2.8
37
0.02
2884
5431
105.00
105.40
0.40
1.45
0.71
37
22.4
485
0.23
4450
11650
112.00
112.85
0.85
0.20
0.09
41
3.9
30
0.04
4500
11800
LRD84
82.40
84.50
2.10
0.56
0.30
62
9.9
67
0.09
2275
5821
83.25
84.10
0.85
0.88
0.48
73
15.4
85
0.16
2330
11000
139.00
145.00
6.00
1.23
1.00
384
5.0
95
0.01
109
603
141.05
143.50
2.45
2.63
2.20
739
10.0
146
0.01
75
596
141.05
142.45
1.40
4.19
3.50
1267
15.8
210
0.02
43
802
207.00
208.00
1.00
2.13
0.01
7090
0.6
70
0.02
51
315
213.00
216.15
3.15
1.58
1.27
290
7.5
146
0.06
964
2191
213.85
215.45
1.60
2.56
2.15
369
10.3
199
0.08
914
2163
1
Metal prices used: Copper US$6,200 per tonne, Silver USD22.50 per ounce, Gold US$1,500 per ounce, Cobalt US$32,800 per tonne and Tin
US$18,000 per tonne. The copper equivalent (CuEq ) values are for exploration purposes only and include no assumptions for metal recovery.
The results add to the near-surface copper and tin mineralization, with copper mineralization remaining
open along strike to the west and down-dip. Additional supergene enrichment style copper
mineralization was intersected in the east.
The latest drill results confirm the continuity of the near-surface
high-grade copper and tin mineralization extending over a strike of more than 1 km.
The primary mineralization includes mainly stockwork, semi-massive sulphides and bands of massive
sulphide, with chalcopyrite as the main primary copper mineral and cassiterite as the only observed tin
mineral. The copper mineralization is also associated with elevated levels of silver, cobalt and gold. A
metal zonation is also apparent, progressing from copper and tin in the west to copper and then zinc in
the east.
Drill hole
LRD61
extends the near-surface copper mineralization approx. 25m up-dip to the south of hole
LRD24. The hole commenced in 0.15% Cu from surface. Results include:
27m at 0.6% CuEq
(0.5% Cu, 0.03% Sn, 2.7g/t Ag) from 6m downhole, including
3m at 1.3% CuEq
(0.9% Cu, 0.08% Sn, 4.3g/t Ag, 104ppm Co), and
4m at 1.3% CuEq
(1.0% Cu, 0.03% Sn, 5.6g/t Ag, 109ppm Co)
Drill hole
LRD63
intersected a broad zone of weakly anomalous copper, tin and silver in the largely
pyritic footwall to the main copper zone. Results include:
28.7m at
0.2% Cu, 0.03% Sn, 1.6g/t Ag from 30.3m, including
0.5m at 1.3% CuEq
(1.0% Cu, 0.05% Sn, 7.1g/t Ag)
Drill hole
LRD64
extends the near-surface copper approx. 25m south of hole LRD55 and intersected a
49m-wide supergene copper zone commencing immediately beneath the cover sediments with several
intervals of higher-grade supergene enrichment style mineralization. Results include:
49m at 0.6% CuEq
(0.43% Cu, 0.04% Sn, 2.1g/t Ag) from 23m, including
4.5m at 1.6% CuEq
(1.3% Cu, 0.06% Sn, 3.8g/t Ag)
3m at 1.1% CuEq
(0.8% Cu, 0.05% Sn, 4.1g/t Ag)
3m at 1.0% CuEq
(0.8% Cu, 0.05% Sn, 3.7g/t Ag)
3m at 1.1% CuEq
(0.8% Cu, 0.07% Sn, 3.3g/t Ag)
Drill hole
LRD66
drilled a thick zone pyritic footwall zone anomalous in copper and tin (87m at 0.12%
Cu, 0.02% Sn, 1.3g/t Ag) with only narrow high-grade intercepts, including
0.35m at 2.0% CuEq
(1.4% Cu, 0.03% Sn, 14.2g/t Ag) from 51.35m
0.7m at 3.1% CuEq
(2.6% Cu, 0.06% Sn, 14.6g/t Ag) from 71.05m
Drill hole
LRD68
extends the near surface copper and tin mineralization up-dip in the west and shows tin
increasing in this direction (individual assays up to 4.7% Cu, 0.92% Sn and 22g/t Ag). Results include:
19.5m at 0.9% CuEq
(0.5% Cu, 0.11% Sn, 2.3g/t Ag) from 21m, including
7.5m at 1.2% CuEq
(0.7% Cu, 0.15% Sn, 3.6g/t Ag)
Drill hole
LRD69
extends the near-surface supergene enrichment-style copper mineralization approx.
50m west of hole LRD58 which intersected 14.7m at 1.4% CuEq. The hole intersected approximately
30m of supergene chalcocite mineralization from 25m down-hole with individual assay values up to 8.7%
Cu, 53g/t Ag and 0.13g/t Au. The hole commenced in copper mineralization from immediately beneath
the cover sediments at 25m down-hole. Results include:
18m at 0.74% CuEq
(0.7% Cu, 3.3g/t Ag) from 32m, including
5.1m at 1.8% CuEq
(1.6% Cu, 8g/t Ag), including
1.3m at 5.1% CuEq
(4.6% Cu, 26.3g/t Ag)
Drill hole
LRD70
extends the near-surface copper-tin mineralization in the west approx. 30m down-dip
from hole LRD68 and shows improving grade and thickness, including high tin values (assays up to
4.7% Cu, 0.94% Sn and 26g/t Ag). Results include:
19.4m at 1.0% CuEq
(0.6% Cu, 0.11% Sn, 3.4g/t Ag) from 45m, including
11.9m at 1.3% CuEq
(0.7% Cu, 0.16% Sn, 3.8g/t Ag), including
1.35m at 2.4% CuEq
(1.2% Cu, 0.35% Sn, 6.6g/t Ag)
2.6m at 2.4% CuEq
(1.5% Cu, 0.24% Sn, 8.6g/t Ag)
Drill hole
LRD71
indicates the high-grade massive chalcopyrite mineralization in previous drill holes
LRD19 and LRD22 remains open but thins in this area. A narrow band of lead/zinc mineralization in the
hanging wall is also present indicating continuity with the adjacent drill holes. Results include:
0.35m at 0.4% Cu, 1.03% Zn, 0,41% Pb, 0.09% Sn, 2.3g/t Ag
from 179.2m
0.35m at 3.8% CuEq
(3.4% Cu, 9.7g/t Ag, 0.10g/t Au) from 293.45m
0.4m at 2.5% CuEq
(2.2% Cu, 10.5g/t Ag) from 331.9m
0.2m at 1.7% CuEq
(1.3% Cu, 7.8g/t Ag, 0.2g/t Au) from 363.85m
0.2m at 2.5% CuEq
(2.0% Cu, 10.9g/t Ag, 0.24g/t Au, 0.04% Co) from 365m
Drill hole
LRD72
extends the near-surface copper/tin mineralization
50m to the east of hole LRD68, with
assay values up to 3.47% Cu, 0.67% Sn, 20.8g/t Ag and 0.16g/t Au. Results include:
31m at 0.6% CuEq
(0.3% Cu, 0.07% Sn, 2.1g/t Ag) from 22m, including
0.25m at 4.1% CuEq
(2.6% Cu, 0.32% Sn, 19.9g/t Ag, 0.16g/t Au)
2.5m at 1.3% CuEq
(0.7% Cu, 0.16% Sn, 3.6g/t Ag), includes
0.3m at 5.4% CuEq
(3.5% Cu, 0.5% Sn, 20.8g/t Ag, 0.12g/t Au)
4.5m at 1.0% CuEq
(0.5% Cu, 0.14% Sn, 3g/t Ag), includes
0.5m at 3.6% CuEq
(1.4% Cu, 0.67% Sn, 13.3g/t Ag)
1.0m at 1.3% CuEq
(0.6% Cu, 0.21% Sn, 2.3g/t Ag) from 52m
Drill hole
LRD73
intersected weak copper mineralization approx. 50m down-dip from hole LRD6. Higher
copper grades in adjacent drill holes to the east and west indicate the copper/tin mineralization remains
open down-dip. A narrow polymetallic interval was also intercepted much deeper in the footwall. Results
include:
10m at 0.5% CuEq
(0.4% Cu, 0.03% Sn, 2.2g/t Ag) from 117m; and
1.1m at 0.70% Pb, 0.79% Zn, 12.1
g/t Ag, 0.37g/t Au) from 207.6
Drill hole
LRD75
shows copper decreasing and lead/zinc increasing in the far east, suggesting a halo to
the main copper mineralization. A deep IP anomaly indicates the copper mineralization potentially
remains open at depth towards the east. Results include:
10m at 0.05% Cu, 0.29% Pb, 0.54% Zn, 2.8g/t Ag from 105m, including
0.4m at 0.7% Cu
,
0.45% Pb, 1.17% Zn, 22.4g/t Ag, 0.23g/t Au
)
and
0.85m at 0.09% Cu, 0.45% Pb, 1.18% Zn, 3.9g/t Ag
Drill hole
LRD84
intersected a narrow polymetallic interval in the hanging wall above two deeper copper
intervals, each containing higher grade copper intercepts showing the copper mineralization remains
open down-dip . Results include:
2.1m at 0.6% CuEq
(0.3% Cu, 9.9g/t Ag), 0.23% Pb, 0.58% Zn from 82.4m, including
0.85m at 0.9% CuEq
(0.5% Cu, 15.4g/t Ag, 0.16g/t Au),
0.23% Pb, 1.1% Zn
6m at 1.2% CuEq
(1.0% Cu, 0.04% Sn, 5.0g/t Ag) from 139m, including
2.45m at 2.6% CuEq
(2.2% Cu, 0.07% Sn, 10g/t Ag), includes
1.4m at 4.2% CuEq
(3.5% Cu, 0.13% Sn, 15.8g/t Ag)
3.15m at 1.6% CuEq
(1.3% Cu, 0.03% Sn, 7.5g/t Ag) from 213m, including
1.6m at 2.6% CuEq
(2.2% Cu, 0.04% Sn, 10.3g/t Ag)
Assay results are pending for an additional 20 completed drill holes. The Phase 4 drill program will
continue to the west towards the La Romana mine workings pending access. Preparations are
underway to test Induced Polarity (IP) chargeability targets immediately north of La Romana.
QA/QC
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and
ranged from 0.4 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). Tin was
analysed in selected intervals using Lithium borate fusion and ICP MS finish (method ME-MS81). 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 Person
Patrick Downey, a Director of Pan Global Resources and a qualified person as defined by National
Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this
news release. Mr. Downey is not independent of the Company.
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.
On behalf of the Board of Directors
www.panglobalresources.com
FOR FURTHER INFORMATION PLEASE CONTACT:
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/98783