Pan Global Drilling Expands Mineralization at LA Romana IN the Escacena Project, Spain
PAN GLOBAL DRILLING EXPANDS MINERALIZATION AT LA
ROMANA IN THE ESCACENA PROJECT, SPAIN
TSXV: PGZ | OTCQX: PGZFF
La Romana drilling confirms continuity of the higher-grade tin mineralization in the west and adds high grade copper in the northeast
Romana West drilling intersects additional near-surface copper mineralization with assay results pending for eight drill holes
Elevated tin results continue to contribute to the mineralization profile at increased levels as drilling progresses in the west of La Romana
VANCOUVER, BC
,
Aug. 23, 2023
/CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) is
pleased to report assay results for 15 drill holes at the La Romana discovery at the Company`s 100% owned Escacena Project in the Iberian
Pyrite Belt in southern
Spain
. La Romana represents a coherent zone of moderately northward-dipping copper-tin-silver mineralization, currently
delineated over approximately 1.2 kilometers along strike and from surface to
400m
down-dip. A planned 25-hole drill program is ongoing to
expand and test the western extensions to the near-surface mineralization at the Romana West target.
Highlights
LRD158
–
5.6m
at 1.2% Cu, 3.3g/t Ag from
195.4m
, and
1m
at 3.6% Cu and 19.4g/t Ag from
109m
LRD154
–
23m
at 0.4% Cu, 0.12% Sn, 2g/t Ag from
33m
, including
7m
at 0.5% Cu, 0.23% Sn and 2.8g/t Ag
LRD147
–
32.25m
at 0.4% Cu, 0.05% Sn and 1.3g/t Ag from
114m
, including
3.25m
at 1.9% Cu, 0.36% Sn and 7.6g/t Ag
LRD146
–
30m
at 0.3% Cu, 0.05% Sn and 1.8g/t Ag from
151m
, including
8m
at 0.6% Cu, 0.11% Sn and 3.4g/t Ag
LRD150
–
10m
at 0.6% Cu, 2.1g/t Ag from
83m
, including
4m
at 1.2% Cu, 4g/t Ag
LRD157
–
0.5m
at 5.1% Cu, 24.5g/t Ag from
110m
, and
3m
at 1.5% Cu, 3.6g/t Ag from
195m
"We are very pleased with these results, which successfully expand the copper and copper-tin-silver mineralization at La Romana and further
demonstrates the favourable continuity of the mineralization," said
Tim Moody
, Pan Global's President & CEO.
"The new step-out drill holes show the mineralization continues to remain open down-dip along the northern extent of the drilling. Infill drill holes in
the northeast confirms continuity of high-grade mineralization intersected in previous drilling. Three infill holes, drilled for the ongoing tin metallurgy
test program, confirm continuity of the tin mineralization in the west."
"At Romana West, we continue to be encouraged by the visible copper and tin mineralization observed in drill core from initial drill holes at this
high-priority target that represents the potential western extension to the La Romana copper-tin-silver mineralization."
"Results are also pending from the recently completed follow-up drill program at the Cañada Honda copper-gold target less than 4km to the north
of La Romana."
Drill results are summarized in Table 1 and drill hole collar details are presented in Table 2 below. Drill hole locations are shown in Figure 1.
Figure 1 – La Romana copper grade shells, drill hole locations with selected results for newly reported holes, and cross section locations A-A’
(Figure 2), B-B’ (Figure 3), and C-C’ (Figure 4). (CNW Group/Pan Global Resources Inc.)
Step-out drill holes
The step-out drill holes have expanded the northern limits of the La Romana copper and copper-tin-silver mineralization a further
50m
to
70m
down-dip on several sections, and shows the mineralization remains open at depth. Results include broad zones of copper mineralization and/or
bands of high-grade copper mineralization with associated strong chlorite alteration, indicating potential for mineralization to continue at depth. The
mineralization also remains open along-strike. Selected highlights include:
LRD146
:
30m
at 0.3% Cu, 0.05% Sn and 1.8g/t Ag from
151m
, including
8m
at 0.6% Cu, 0.11% Sn and 3.4g/t Ag
LRD147
:
32.25m
@ 0.4% Cu, 0.05% Sn and 1.3g/t Ag from
112m
, including
3.25m
at 1.9% Cu, 0.36% Sn and 7.6 g/t Ag
LRD149
:
0.5m
at 4.6% Cu and 10.3g/t Ag from
290.8m
and
0.5m
at 3.1% Cu, 9.7g/t Ag from
341.9m
LRD150
:
4m
at 1.2% Cu and 4.0 g/t Ag
from
83m
, stratigraphically above the main La Romana mineralization
LRD153
:
36.5m
at 0.3% Cu and 1.7g/t Ag from
288m
Infill drill holes
The infill drilling included testing an area previously inaccessible due to farm infrastructure and confirmed additional high-grade copper
mineralization within a continuous zone extending from near surface to approximately
450m
down-dip (see Figure 2 below). Three additional infill
drill holes (
LRD152
,
LRD154
and
LRD159
) complement a tin metallurgical test program and confirmed continuity of the high-grade tin
mineralization in the west. Selected highlights include:
LRD156
:
1m
at 1.5% Cu and 7.5g/t Ag from
171m
;
25m
at 0.3% Cu and 1.2g/t Ag from
203m
, including
1.6m
at 1.9% Cu and 7.4g/t Ag; and
0.5m
at 2.0% Cu and 8.4g/t Ag from
262.7m
LRD157
:
0.5m
at 5.1% Cu, 24.5g/t Ag and 0.12g/t Au;
3m
at 1.5% Cu and 3.6g/t Ag
from
195m
; and
0.65m
at 1.8% Cu and 13.6g/t Ag from
228.35m
LRD158
:
0.5m
at 3.0% Pb, 4.0% Zn, 0.2% Cu and 22.9g/t Ag from
62.5m
;
1m
at 3.6% Cu and 19.4g/t Ag from
109m
;
5.6m
at 1.2% Cu and
3.3g/t Ag
from
195.4m
, including
0.35m
at 10.5% Cu, 26.1g/t Ag, 0.14g/t Au and 0.08% Co
from
196.3m
LRD154
:
23m
at 0.4% Cu, 0.12% Sn and 2.0g/t Ag
from
33m
, including
7m
at 0.5% Cu, 0.23% Sn and 2.8g/t Ag (highest tin intersections on
this section)
LRD159
:
1m
at 0.5% Cu, 0.68% Sn and 2.5g/t Ag from
24m
; and
19m
at 0.4% Cu, 0.05% Sn and 1.3g/t Ag from
37m
Figure 2 – Cross Section A – A’ (736885E) showing new drill holes LRD156, LRD158 and LRD160 with selected results. (CNW Group/Pan Global
Resources Inc.)
Figure 3 – Cross Section B – B’ (736135E) showing new drill holes LRD147 and LRD159 with selected results. Also shows the mineralization is
extended down-dip (open). (CNW Group/Pan Global Resources Inc.)
Figure 4 – Cross Section C – C’ (736325E) showing new drill hole LRD154 with selected results. Hole LRD154 has higher tin compared to
previous drill holes on this section. (CNW Group/Pan Global Resources Inc.)
Table 1
– Escacena Project, drill results summary (all intersections are >90% to approximately 100% of true thickness)
Hole
From
To
Interval
Cu
Sn
Ag
Co
Au
Pb
Zn
m
m
m
%
%
g/t
ppm
g/t
ppm
ppm
LRD146
151.00
181.00
30.00
0.3
0.05
1.8
59
0.00
228
581
inc.
159.00
181.00
22.00
0.3
0.07
1.9
61
0.01
205
567
inc.
173.00
181.00
8.00
0.6
0.11
3.4
72
0.01
282
687
LRD147
114.00
146.25
32.25
0.4
0.05
1.3
70
0.01
4
75
inc.
129.00
146.25
17.25
0.5
0.08
2.0
84
0.01
16
98
inc.
143.00
146.25
3.25
1.9
0.36
7.6
185
0.03
29
166
LRD148
100.00
124.00
24.00
0.24
0.01
1.0
59
0.01
14
107
inc.
116.00
124.00
8.00
0.4
0.02
1.7
80
0.01
9
89
152.00
160.00
8.00
0.2
0.03
0.8
57
0.01
10
58
LRD149
227.45
228.00
0.55
0.4
<0.01
15.2
289
0.26
3410
6010
256.80
258.00
1.20
0.1
<0.01
12.7
37
0.04
17800
4940
290.00
291.30
1.30
1.9
<0.01
4.4
359
0.10
20
242
inc.
290.80
291.30
0.50
4.6
0.01
10.3
886
0.25
37
486
341.90
342.40
0.50
3.1
0.01
9.7
369
0.13
268
459
LRD150
22.00
22.50
0.50
1.1
<0.01
1.9
7
0.01
22
90
83.00
93.00
10.00
0.6
<0.01
2.1
46
0.01
19
227
inc.
83.00
87.00
4.00
1.2
<0.01
3.9
65
0.02
20
316
inc.
84.00
85.00
1.00
3.8
0.01
10.8
123
0.03
37
639
LRD151
257.00
258.00
1.00
<0.1
0.01
1.4
21
0.01
1205
11950
391.00
392.00
1.00
1.1
0.01
2.3
76
0.02
27
231
LRD152
1
60.00
82.00
22.00
0.3
0.06
1.6
70
0.01
45
140
60.00
75.00
15.00
0.4
0.06
2.0
73
0.01
52
155
LRD153
251.00
254.00
3.00
0.5
<0.01
2.3
108
0.01
32
96
271.00
272.00
1.00
0.8
<0.01
5.1
92
0.01
261
969
288.00
324.50
36.50
0.3
0.01
1.7
51
0.01
177
445
inc.
300.00
324.50
24.50
0.3
0.01
2.0
55
0.01
188
503
inc.
313.00
314.00
1.00
1.2
0.02
4.5
70
0.01
89
355
inc.
317.00
317.50
0.50
3.0
0.03
14.3
140
0.07
2300
5730
LRD154
1
33.00
56.00
23.00
0.4
0.12
2.0
94
0.01
51
131
inc.
33.00
46.00
13.00
0.5
0.14
2.9
104
0.01
78
155
inc.
36.00
43.00
7.00
0.5
0.23
2.8
122
0.01
47
155
LRD155
36.50
39.00
2.50
0.5
<0.01
3.8
27
0.01
842
309
41.00
42.00
1.00
0.5
<0.01
3.2
15
0.01
544
387
LRD156
171.00
172.00
1.00
1.5
0.01
7.5
94
0.03
144
151
203.00
228.00
25.00
0.3
<0.01
1.2
74
0.02
54
160
Inc.
203.00
204.60
1.60
1.9
0.01
7.4
449
0.08
306
218
262.70
263.20
0.50
2.0
0.01
8.4
315
0.16
100
390
LRD157
110.00
110.50
0.50
5.1
0.01
24.5
409
0.12
140
481
161.00
162.00
1.00
0.9
<0.01
5.9
86
0.03
142
407
195.00
198.00
3.00
1.5
<0.01
3.6
201
0.03
15
104
inc.
196.00
197.00
1.00
3.6
0.01
8.8
422
0.08
27
137
228.35
229.00
0.65
1.8
0.01
13.6
248
0.10
3360
7150
255.00
256.00
1.00
0.7
0.02
7.3
158
0.06
2570
2180
LRD158
62.50
63.00
0.50
0.2
<0.01
22.9
21
0.09
30400
39500
109.00
110.00
1.00
3.6
0.01
19.4
279
0.04
96
405
185.00
186.00
1.00
1.0
<0.01
6.6
130
0.02
12
149
195.40
201.00
5.60
1.2
<0.01
3.3
152
0.02
42
120
inc.
195.40
197.50
2.10
2.7
0.01
7.3
290
0.05
61
146
inc.
196.30
196.65
0.35
10.5
0.01
26.1
811
0.14
138
298
LRD159
1
24.00
25.00
1.00
0.5
0.68
2.5
70
0.04
75
95
37.00
56.00
19.00
0.4
0.05
1.3
73
0.01
32
107
inc.
48.00
56.00
8.00
0.4
0.08
1.3
80
0.01
30
141
inc.
50.00
51.00
1.00
1.3
0.02
1.2
74
0.01
8
255
inc.
52.00
55.00
3.00
0.3
0.13
1.5
87
0.02
20
108
LRD160
236.00
273.00
37.00
0.25
<0.01
1.0
64
0.01
123
27
inc.
239.00
242.00
3.00
1.1
<0.01
2.6
180
0.02
95
40
inc.
239.90
240.40
0.50
5.3
0.01
12.3
635
0.08
215
216
inc.
300.20
300.70
0.50
1.0
0.01
4.0
416
0.16
123
131
1
Tin metallurgy drill hole
Table 2
– Escacena Project, drill hole collar information (Total
3745.5m
)
Hole ID
Easting
2
Northing
2
Azimuth (
o
)
Dip(
o
)
Depth (m)
LRD146
736281
4152845
180
-60
248.10
LRD147
736136
4152802
180
-60
209.30
LRD148
736085
4152796
180
-55
220.50
LRD149
736956
4152942
180
-60
424.35
LRD150
736539
4152884
180
-62
398.40
LRD151
737003
4152998
180
-60
442.85
LRD152
1
736187
4152712
180
-55
86.20
LRD153
736734
4152936
180
-65
367.70
LRD154
1
736233
4152669
180
-55
73.30
LRD155
736980
4152570
180
-55
89.40
LRD156
736905
4152811
180
-65
272.35
LRD157
736905
4152811
180
-55
272.50
LRD158
736903
4152812
192
-55
257.50
LRD159
1
736138
4152687
180
-55
65.55
LRD160
736898
4152874
180
-60
317.50
1
Tin metallurgy drill hole
2
Coordinates are in ERTS89 datum UTM29N
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 Romana West, Cañada Honda, Zarcita,
Hornitos, La Jarosa,
Romana Deep
,
Romana North
, Bravo, Barbacena, El Pozo, and San Pablo.
About Pan Global Resources
Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, 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 infrastructure, mining and professional expertise, and support for copper as a Strategic
Raw Material by the European Commission collectively define a tier-one jurisdiction for mining investment. The Pan Global team comprises proven
talent in exploration, development, and mine operations - all of which are committed to operating safely and with utmost respect for the
environment and our partnered communities.
QA/QC Procedures
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was
1m
core length and ranged from 0.5 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). 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 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
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 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.
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www.panglobalresources.com
CO: Pan Global Resources Inc.
CNW 07:30e 23-AUG-23