Pan Global Doubles Size of Soil Geochemistry Anomaly at Bravo Target, Escacena Project
PAN GLOBAL DOUBLES SIZE OF SOIL GEOCHEMISTRY ANOMALY
AT BRAVO TARGET, ESCACENA PROJECT
TSXV: PGZ | OTCQX: PGZFF | FRA: 2EU
Soil lead-zinc (Pb-Zn) anomaly area doubles to 1.7km x 1.0km at the high-priority Bravo target
Coincident with a strong 2.0km x 1.5km gravity anomaly
Soil geochemistry survey expanded to investigate the area between Bravo target and the La Romana discovery
Bravo located on-trend between the La Romana copper-tin-silver discovery and Grupo México's Aznalcóllar and Los Frailes deposits
VANCOUVER, BC
,
Sept. 4, 2024
/CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU)
is pleased to announce additional soil geochemistry and new gravity survey results for the maiden exploration program over the Bravo target
("Bravo") within the Company's 100%-owned Escacena Project ("Escacena") in the Iberian Pyrite Belt, southern
Spain
.
"The new soil sample geochemistry and gravity survey results further support our view that the large Bravo target could represent concealed
volcanogenic massive sulphide (VMS) mineralization beneath shallow cover, similar to Pan Global's nearby La Romana copper-tin-silver discovery.
The new survey results double the size of the lead plus zinc surface anomaly from the initial soil sampling reported last month and confirm a large
coincident gravity anomaly," said
Tim Moody
, Pan Global's President & CEO.
Mr. Moody added, "The elevated lead-zinc-silver soil geochemistry and coincident gravity anomaly are strong indicators of the potential for underlying
sulphide mineralization. Modelling of the data is underway to finalize locations for the maiden Bravo drill campaign, plus soil geochemistry sampling
has expanded to test the potential for mineralization between Bravo and the La Romana discovery to the west."
The Bravo target is located 1.5km east of Pan Global's La Romana copper-tin-silver discovery and 4.5km southwest of Grupo México's Aznalcóllar
and Los Frailes volcanogenic massive sulphide deposits. The target is mostly covered by post-mineral rocks and sediments and has never been drill
tested.
Figure 1 – Enhanced Bravo gravity target and new Pb+Zn soil anomaly, showing proximity to the La Romana gravity anomaly (CNW Group/Pan
Global Resources Inc.)
Figure 2 – Bravo target soil sample geochemistry results superimposed on the new gravity anomaly map, indicating the highest Pb, Zn and Ag
coincides with the peak of the gravity anomaly (CNW Group/Pan Global Resources Inc.)
A total of 1,188 soil samples, including 57 duplicates, were collected as part of the expanded Bravo survey. The soil samples were collected on a
40-meter spacing along lines 100 meters apart. Each sample was analyzed using a hand-held x-ray fluorescence ("pXRF") device. Spatial
interpretation of the pXRF results confirms a Pb plus Zn soil anomaly extending over 1.7km east-west and up to 1.2km north-south. Samples range
from 300ppm to 1,252ppm combined Pb+Zn, including up to 1,115ppm Pb and 886ppm Zn.
A total of 67 soil samples from two lines over the Bravo target were also assayed for multi-element geochemistry by ALS laboratory to check and
compare accuracy of the pXRF results. The results confirm a close correlation of the Pb and Zn assay values with the pXRF results and also show
anomalous Ag values up to 5.2g/t (not analyzed by the pXRF) coincident with the Pb+Zn and gravity anomalies.
The initial Bravo ground gravity survey is complete, with results obtained from 788 stations on a
100m
x
100m
, and
100m
x
50m
grid over the main
target area. The results confirmed a strong (>1.2 mGal) gravity anomaly with surface dimensions approximately 2.0km x 1.5km.
Next steps include:
1
.
detailed modelling of the final gravity data, followed by;
2
.
induced polarization and/or electromagnetic survey lines over the peaks of the gravity plus geochemistry anomalies to provide additional three-
dimensional information; and,
3
.
prioritize drillhole positions.
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 the operating mine at Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where
Minera Los Frailes/Grupo México is in the final permitting stage to allow new mine construction to commence. The Escacena Project hosts Pan
Global's La Romana copper-tin-silver and Cañada Honda copper-gold discoveries, and a number of other prospective targets, including, Bravo,
Barbacena, El Pozo,
Romana Norte
, San Pablo, Zarcita, Hornitos, La Jarosa,
Romana Deep
, and Cortijo.
About Pan Global Resources
Pan Global Resources Inc. is actively targeting copper-rich mineral deposits in
Spain
, given copper's compelling supply-demand fundamentals and
outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is
located in the prolific Iberian Pyrite Belt in southern
Spain
, where a favourable permitting track record, excellent infrastructure, mining and
professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk
jurisdiction for mining investment. The Pan Global team comprises proven talent in exploration, discovery, development, and mine operations - all of
which are committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member,
and operates under the principles, of the United Nations Global Compact.
QA/QC
The soil geochemistry survey includes samples collected from the top 20cm from surface (un-sieved, weighing approx. 1kg) on a
100m
x
40m
grid
over the gravity target area. The samples are collected in plastic bags, and a multi-element analysis obtained using an Olympus Vanta hand-held x-
ray fluorescence ("pXRF") device. Analyses are repeated on 1 per 20 samples, and standards analyzed to check for deviation.
Additional samples were sent to the ALS laboratory in
Seville
as a further check and comparison with the pXRF results. The samples were crushed
and split (method CRU-31, SPL22Y), and pulverized using (method PUL-31). Multi element analysis was undertaken using a multi-acid digest and
ICP-MS ultra-low detection method ME-ICP61).
Qualified Persons
Álvaro Merino. Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved
the scientific and technical information for this media release. Mr. Merino is not independent of the Company.
www.panglobalresources.com
Forward-looking statements
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 media 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 media release is based on information available to the Company as of the date of this media
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.
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FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP Investor Relations and Communications,
[email protected] / [email protected], Tel: +1-236-886-9518
CO: Pan Global Resources Inc.
CNW 07:25e 04-SEP-24