Pan Global Drills 52.6m of 1.0% CuEq from near Surface at Escacena Project, Southern Spain
Pan Global Drills 52.6m of 1.0% CuEq from
near Surface at Escacena Project, Southern
Spain
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2021) - Pan Global Resources Inc. (TSXV:
PGZ) (OTC Pink: PGNRF) (the "Company") is pleased to announce that drilling continues to expand the
La Romana copper target at the Escacena Project with significant intercepts of near surface high-grade
results. 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 drilling continues to expand the open pit
target and the copper zone remains wide open in all directions. The new results include an exceptional
near surface intercept of greater than 50m-thickness with high copper grades in the eastern strike
extension, including an upper interval with high-grade supergene enrichment style chalcocite
mineralization. The new results also extend the mineralization down-dip. The simple tabular geometry
and moderate dip of the mineralization looks well suited to an open pit."
Results have been received for an additional four drill holes (LRD38, LRD39, LRD40 and LRD42) at the
La Romana target, in the Escacena Project. Drilling is ongoing with assay results pending for an
additional eighteen completed holes.
Highlights include
:
52.6m at 1.00% copper equivalent (CuEq)
(0.76% Cu, 0.05% Sn, 3.8g/t Ag, 0.01g/t Au) from
42.4m in
LRD40
, including;
26.6m at 1.39% CuEq
(1.13% Cu, 0.05% Sn, 5.0g/t Ag, 0.01g/t Au) from 42.4m
16m at 0.87% CuEq
(0.60% Cu, 0.052% Sn, 4.6g/t Ag, 0.017g/t Au) from 38m in
LRD39
,
including;
10m at 1.25% CuEq
(0.84% Cu, 0.07% Sn, 6.5g/t Ag, 0.02g/t Au, 0.013% Co) from 44m,
Drill results
The latest drill results are from four new holes in the Phase 4 drill program at the La Romana discovery.
The drill program is testing extensions of the mineralization in all directions.
Drill holes LRD38 and LRD40 tested the eastern extensions of the near-surface copper mineralization.
Holes LRD39 and LRD42 targeted down-dip extensions. Copper mineralization was intersected in all
four holes, with exceptional results returned from LRD40.
Drill hole collar information is provided in Table 1 below. Assay results are summarized in Table 2. Drill
hole locations are shown in Figure 1. Summary cross sections with holes LRD40 to LRD42 are provided
in Figure 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 1,333.2m)
Hole ID
Easting
1
Northing
1
Azimuth (º)
Dip (º)
Depth (m)
LRD38
736933
4152906
180
-60
369.4
LRD39
736683
4152627
180
-55
182.1
LRD40
736735
4152648
180
-55
176
LRD42
736381
4152794
180
-55
263.2
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
LRD38
233.30
233.75
0.45
1.02
0.79
29
10
103
0.045
3270
6020
251.55
251.75
0.2
1.58
1.12
122
8.7
438
0.104
107
251
256.35
261.80
5.45
1.16
0.96
33
3.5
218
0.036
19
107
272.25
272.75
0.5
1.17
1.08
41
2.1
85
0.017
14
105
275.45
275.70
0.25
2.16
1.71
73
7.0
495
0.088
57
87
279.00
279.30
0.3
1.12
1.0
62
2.1
88
0.030
102
327
LRD39
36.00
68.00
32.00
0.56
0.38
300
3.1
75
0.011
203
544
38.00
54.00
16.00
0.87
0.60
520
4.6
102
0.017
235
515
44.00
54.00
10
1.25
0.84
796
6.5
133
0.024
344
685
46.30
52.00
5.7
1.73
1.20
1026
9.1
168
0.029
466
842
LRD40
42.40
95.00
52.60
1.00
0.76
483
3.8
82
0.009
112
618
42.40
69.00
26.60
1.39
1.13
494
5.0
86
0.010
140
496
40.00
47.00
7.00
2.57
2.32
250
8.5
114
0.011
70
455
42.40
47.00
4.60
3.82
3.46
370
12.2
150
0.015
50
500
61.00
69.00
8.00
1.92
1.43
1120
7.1
112
0.016
108
556
62.30
66.40
4.10
2.97
2.25
1684
10.6
132
0.021
103
586
82.00
87.20
5.20
1.11
0.80
656
4.8
98
0.009
44
709
LRD42
24.35
27.30
2.95
1.37
1.26
57
3.5
66
0.021
186
132
122.00
137.00
15.00
0.85
0.68
272
4.0
80
0.006
229
504
128.00
137.00
9.00
1.21
1.00
292
5.2
91
0.007
229
522
132.00
137.00
5.00
1.68
1.41
411
7.0
102
0.009
259
626
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 recent drill results at La Romana confirm that the high-grade near surface copper mineralization
extends over a strike length of approximately 700m and remains open along strike, down-dip and up-dip.
The primary mineralization includes mainly stock work, semi-massive sulphides and bands of massive
sulphide, with chalcopyrite as the primary copper mineral and cassiterite as the primary tin mineral. The
copper and tin mineralization is associated with elevated levels of silver, cobalt and gold. Supergene
chalcocite is also evident in several recent drill holes and appears to increase towards the east and
south.
LRD38 and LRD42 extend the copper mineralization down-dip coincident with down-hole EM conductor
anomalies. The coincident geophysics and copper mineralization indicates the target is wide open and
shows excellent potential to significantly expand.
Hole
LRD39
extends the near-surface copper mineralization approx. 50m along strike to the east of hole
LRD36 which reported
23m at 1.06% CuEq
, including
11m at 1.74% CuEq
. A leached/oxidised zone
is present from approx. 11m to 30m depth with traces of native copper and red copper oxides, followed
by a zone of low-grade supergene chalcocite from 30 to 39m. Significant results include:
16m at 0.87% CuEq
(0.60% Cu, 0.05% Sn, 4.6g/t Ag, 0.02g/t Au) from 38m down hole, including
10m at 1.25% CuEq
(0.84% Cu, 0.08% Sn, 6.5g/t Ag, 0.02g/t Au, 0.013% Co), including
5.7m at 1.73% CuEq
(1.20% Cu, 0.10% Sn, 9.1g/t Ag, 0.03g/t Au, 0.03% Co)
Hole
LRD40
shows a significant thick zone of copper mineralization approx. 50m east and along strike
from hole LRD39. The results also confirm a high-grade supergene-enriched chalcocite zone at the top
of the copper interval. Significant results:
52.6m at 1.00% CuEq
(0.76% Cu, 0.05% Sn, 3.8g/t Ag) from 42.4m downhole, including
26.6m at 1.39% CuEq
(1.13% Cu, 0.05% Sn, 5g/t Ag), including
7m at 2.57% CuEq
(2.32% Cu, 0.03% Sn, 8.5g/t Ag, 0.01g/t Au, 0.011% Co) -
supergene chalcocite, and
8m at 1.92% CuEq
(1.43% Cu, 0.11% Sn, 7.1g/t Ag, 0.02g/t Au, 0.011% Co)
5.2m at 1.11% CuEq
(0.80% Cu, 0.07% Sn, 4.8g/t Ag)
Drill hole
LRD42
confirmed the continuation of the copper mineralization approx. 40m down-dip from
LRD17 which intersected 24.4m at 1.03% CuEq. The hole is the northernmost intersection in the west of
the target area. The mineralization remains open down-dip and along strike coincident with a large
down-hole EM conductor and IP chargeability anomaly. Significant results:
2.95m at 1.37% CuEq
(1.26% Cu, 3.5g/t Ag, 0.021g/t Au) from 24.35m
and
15m at 0.85% CuEq
(0.68% Cu, 0.03% Sn, 4.0g/t Ag) from 122m, including
9m at 1.21% CuEq
(1.01% Cu, 0.03% Sn, 5.2g/t Ag), including
5m at 1.68% CuEq
(1.41% Cu, 0.04% Sn, 7.0g/t Ag)
Drill hole
LRD38
intersected
5.45m at 1.16% CuE
q
(0.96% Cu, 3.5g/t Ag, 0.04g/t Au, 0.022% Co) from
256.35m approx. 40m down-dip from previous hole LRD22, which intersected 6m at 2.44% CuEq,
including an exceptionally high-grade massive chalcopyrite interval with 0.43m at 18.7% CuEq. The
results indicate the copper zone continues down-dip, albeit with lower grades in this hole. The copper
mineralization coincides with a large downhole EM conductor anomaly and indicates the mineralization
remains open down-dip and along-strike to the east.
Assay results are pending for completed drill holes LRD43 to LRD59 and LRD61. Drill holes LRD60 and
LRD62 are in progress. The Phase 4 drill program has been expanded to forty drill holes. Additional drill
holes will also focus on testing for extensions of the thick zone of copper and tin mineralization
intersected in hole LRD40 and high-grade supergene enriched copper mineralization.
Figure 1
- La Romana geophysics targets and drill hole locations with selected highlights. New drill hole
results are highlighted in yellow.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5190/84457_bd10368244ce2a26_001full.jpg
Figure 2
- Selected summary drill hole cross sections with new drill holes LRD40 (Section 736735 E)
and LRD42 (Section 736385 E).
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5190/84457_bd10368244ce2a26_002full.jpg
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.
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:
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