Pan Global Expands La Romana Deposit and Intersects 3.9 Meters of 1.04% Copper and 5.2 g/t Silver in New Upper Horizon New copper horizon intersected 100 meters above the main La Romana mineralization Near-surface copper mineralization expanded to the south
Pan Global Expands La Romana Deposit and
Intersects 3.9 Meters of 1.04% Copper and 5.2
g/t Silver in New Upper Horizon
New copper horizon intersected 100 meters above the main La Romana mineralization
Near-surface copper mineralization expanded to the south
Polymetallic massive sulphides intersected in step-outs to the east
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2022) - Pan Global Resources Inc.
(TSXV: PGZ) (OTC Pink: PGNRF) ("Pan Global" or the "Company") is pleased to announce assay
results for 14 drill holes from the outer extent of the La Romana copper-tin discovery mineralization at the
Company's 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain.
"The new results expand the near-surface copper mineralization at La Romana to the south and
continues to indicate the mineralization is wide open along strike and downdip," said Tim Moody, Pan
Global President and CEO. "These results also highlight a new copper horizon in the hanging wall
approximately 100 meters stratigraphically above the main La Romana mineralization. In addition, large
step-out holes confirmed the prospective geology and mineralization continues to the east. As the drilling
targeted the edges of known mineralization, these results were largely as expected. Based on our
geologic understanding of the mineralization to date, La Romana has excellent potential to grow further
with additional drilling planned for 2023. The company is well positioned for a strong exploration
program in 2023 with the latest quarterly financial statements showing a balance of CAD$ 11.2 million."
While working on remaining access permissions to the west and east of La Romana, three drill rigs are
turning at new targets in the Escacena Project. One rig is currently focused on Romana Deep to the north
of the La Romana deposit; the second rig at the Zarcita target approximately 3km north of La Romana;
and a third drill rig has begun drilling the first hole on the Cañada Honda gravity target to the southwest of
Zarcita.
Drill highlights - La Romana
LRD135 - 3.9m at 1.04% Cu and 5.2g/t Ag (new copper horizon, from 149.3m)
LRD139 - 10m at 0.5% Cu, 0.06% Sn and 2.5g/t Ag, including
2.5m at 1.3% Cu, 0.17% Sn, 6.6g/t Ag
LRD136 - 1.9m at 1.9% Cu and 6.7g/t Ag
LRD132 intersected 18m at 0.4% Cu, 0.02% Sn and 2.0g/t Ag, including
0.5m at 2.1% Cu, 0.03% Sn and 12.6 g/t Ag
1.35m at 1.3% Cu, 0.05% Sn and 7.2g/t Ag
LRD130 - 22.5m at 0.3% Cu, 0.02% Sn and 1.1g/t Ag, including
0.7m at 2.3% Cu, 0.04% Sn and 8.2g/t Ag; and
0.5m at 2.3% Cu, 0.19% Sn and 19.3g/t Ag
Figure 1 - La Romana copper mineralization footprint,
drill hole locations with selected results for
newly reported holes and the new Romana Deep target location. A-A' and B-B' indicate cross section
locations in Figures 2 and 3 respectively.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5190/147954_9111de57942e691d_001full.jpg
New drill results
The 14 new drill hole assay results include eight holes testing the southern extent of the La Romana
mineralization, three holes testing down-dip to the north and three large step-out drill holes along strike to
the east of La Romana. These are the remaining holes from the much larger drill program completed in
2022 that successfully expanded the La Romana copper and tin mineralization and continues to show
the mineralization remains open along strike and downdip. Drill hole locations are shown in Figure 1.
Assay results are summarized in Table 1 and drill collar details provided in Table 2.
Southern Extent - near-surface mineralization expanded
The new assay results for drill holes LRD127, 129, 133, 134, 136, 137, 138 and 139 have confirmed
additional near-surface copper, as well as some tin mineralization in the footwall, and expands the La
Romana target to the south. The holes intersected copper mineralization from immediately beneath or
near the contact with the shallow cover (Figure 2), including supergene chalcocite overprinting primary
sulphides. The results show narrow intercepts with high copper grades (>1% Cu) associated with semi-
massive to massive sulphides and wider intervals of lower grade mineralization in the footwall to the
main La Romana mineralization.
Figure 2 - Cross Section
showing new drill hole
LRD136
and additional copper intercepts in the
footwall to the main La Romana mineralization.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5190/147954_9111de57942e691d_002full.jpg
Down-dip extensions - new copper horizon
Drill holes LRD130, 132 and 135 continue to show the copper mineralization and associated alteration
remain open down-dip to the North and a new high-grade zone identified approximately 100 meters
stratigraphically above the main La Romana copper-tin mineralization with 3.9m at 1.04% Cu and 5.2 g/t
Ag from 149.3m in hole LRD135 (Figure 3).
Figure 3 – Cross-section
showing new hole
LRD135 with 3.9m at 1.04% Cu and 5.2g/t Ag at a
new copper horizon
above the main La Romana copper mineralization.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/5190/147954_9111de57942e691d_003full.jpg
Eastern Step-out drill holes
Holes LRD123, 128 and 131 were drilled on 150m to 300m step-outs to the east of La Romana and
confirmed continuation of the prospective host rocks and associated hydrothermal sericite-chlorite
alteration. The holes intersected broad intervals of anomalous levels of Pb and Zn plus narrow intervals
of higher grade polymetallic massive sulphides indicative of the outer 'halo' zone to the copper
mineralization and further exploration potential to the east and downdip. Notable polymetallic massive
sulphide intercepts include:
LRD123 - 0.25m at 0.12% Cu,
1.6% Pb, 2.6% Zn, 9.4g/t Ag
, 0.2g/t Au
LRD128 - 0.5m at 0.1% Cu,
1.7% Pb, 2.2% Zn, 7.9g/t Ag
LRD131 - 0.5m at 0.15% Cu,
0.4% Pb, 3.3% Zn, 12.8g/t Ag
and 0.5m at 0.1% Cu,
1.3% Pb, 1.2%
Zn and 4.5g/t Ag
Table 1 - Escacena Project, La Romana drill results summary
Hole
From
To
Int.
1
Cu
Sn
Ag
Co
Au
Pb
Zn
m
m
m
%
ppm
g/t
ppm
g/t
ppm
ppm
Southern holes
LRD127
62.50
70.00
7.50
0.20
57
0.3
58
0.01
2
79
inc.
65.00
68.00
3.00
0.29
62
0.4
55
0.01
3
93
LRD129
19.50
28.00
8.50
0.25
240
0.4
51
0.00
39
176
and
62.00
66.00
4.00
0.39
115
0.9
67
0.00
4
86
LRD133
29.00
54.00
25.00
0.17
469
0.6
73
0.01
15
88
inc.
38.50
44.25
5.75
0.35
829
1.5
114
0.01
31
105
inc.
49.00
53.10
4.10
0.16
1267
0.8
91
0.01
13
95
and
89.15
89.50
0.35
1.19
272
1.5
111
0.02
14
62
and
115.70
115.95
0.25
1.81
3130
1.3
98
0.04
19
54
LRD134
96.00
96.50
0.50
2.16
135
13.0
46
0.03
2500
3620
and
112.40
113.00
0.60
0.65
64
2.4
58
0.06
140
486
LRD136
37.30
51.00
13.70
0.16
55
0.7
28
0.01
48
327
inc.
49.00
51.00
2.00
0.35
56
1.2
36
0.01
24
217
and
87.80
89.70
1.90
1.89
89
6.7
54
0.02
73
345
and
104.00
105.00
1.00
0.32
62
4.4
19
0.00
604
3180
LRD137
39.00
62.00
23.00
0.24
262
2.0
65
0.01
164
290
inc.
55.00
58.00
3.00
0.72
697
6.4
113
0.04
736
472
inc.
55.00
56.00
1.00
1.02
953
7.9
84
0.02
673
651
LRD138
17.55
39.00
21.45
0.15
90
1.3
34
0.00
196
291
and
54.00
59.00
5.00
0.19
147
0.4
54
0.02
64
221
and
65.00
75.00
10.00
0.2
498
0.7
49
0.02
164
191
inc.
68.00
69.00
1.00
0.14
1850
0.6
122
0.03
31
91
LRD139
17.00
27.00
10.00
0.48
553
2.5
100
0.01
188
271
inc.
18.00
20.50
2.50
1.32
1650
6.6
190
0.02
180
243
inc.
19.00
19.60
0.60
4.72
1895
23.4
555
0.05
506
471
and
42.00
44.00
2.00
0.36
32
2.5
48
0.01
288
439
and
56.00
57.00
1.00
0.31
23
1.4
30
0.04
432
519
and
66.00
69.00
3.00
0.5
39
2.5
26
0.01
87
185
Down-dip holes
LRD130
25.00
27.00
2.00
0.26
66
0.3
16
0.04
43
182
and
32.00
32.50
0.50
0.35
57
1.3
28
0.01
80
326
and
152.00
174.50
22.50
0.25
222
1.1
60
0.00
61
250
inc.
152.00
153.00
1.00
0.09
2180
0.3
55
0.00
19
178
inc.
159.30
160.00
0.70
2.29
375
8.2
105
0.01
121
464
and
199.00
206.80
7.80
0.39
390
2.8
76
0.01
100
644
inc.
202.00
202.50
0.50
2.32
1895
19.3
231
0.03
493
2450
LRD132
107.70
108.25
0.55
1.0
82
18.6
109
0.05
2150
1830
and
141.00
159.00
18.00
0.37
189
2.0
63
0.01
85
353
inc.
145.00
145.50
0.50
2.1
264
12.6
164
0.02
539
1690
inc.
150.65
152.00
1.35
1.32
532
7.2
102
0.01
184
457
LRD135
56.00
57.00
1.00
0.52
28
2.9
28
0.00
76
400
and
60.00
61.75
1.75
0.38
21
2.3
28
0.01
32
104
and
149.30
153.20
3.90
1.04
57
5.2
54
0.03
584
532
inc.
149.30
150.30
1.00
1.68
66
8.9
42
0.04
723
1000
inc.
152.10
153.20
1.10
2.12
52
7.2
116
0.04
103
149
and
247.00
253.00
6.00
0.19
549
1.6
52
0.01
237
814
inc.
251.00
252.00
1.00
0.09
1800
0.5
49
0.00
66
250
Eastern step-out holes
LRD123
199.00
229.00
30.00
0.01
30
0.8
14
0.01
1483
2690
and
343.90
344.15
0.25
0.12
101
9.4
32
0.20
16400
25600
LRD128
80.00
84.90
4.90
0.01
25
0.9
7
0.00
2211
2301
and
195.00
207.90
12.90
0.01
15
0.6
14
0.01
1264
1962
inc.
207.40
207.90
0.50
0.12
34
7.9
23
0.05
16500
22000
and
228.00
230.00
2.00
0.02
na
2
3.1
15
na
5060
7830
and
326.00
343.00
17.00
0.02
30
0.8
16
0.003
1102
2449
Hole
From
To
Int.
1
Cu
Sn
Ag
Co
Au
Pb
Zn
m
m
m
%
ppm
g/t
ppm
g/t
ppm
ppm
LRD131
152.00
158.50
6.50
0.02
na
1.6
17
na
1568
4365
inc.
155.00
155.50
0.50
0.15
na
12.8
16
na
4110
32700
and
278.00
278.50
0.50
0.10
na
4.5
18
na
12700
12250
and
334.00
334.50
0.50
0.04
na
3.5
15
na
3380
7810
Hole
From
To
Int.
1
Cu
Sn
Ag
Co
Au
Pb
Zn
m
m
m
%
ppm
g/t
ppm
g/t
ppm
ppm
1
Interval - drill core length, approximately true thickness.
2
No assay.
Table 2
- Escacena Project, La Romana hole collar information (Total 2,973.6m)
Hole_ID
Easting
1
Northing
1
Azimuth (º)
Dip (º)
Depth (m)
LRD123
737165
4152809
180
-65
386.7
LRD127
736235
4152625
180
-55
97.65
LRD128
737340
4152658
180
-55
347.2
LRD129
736276
4152624
180
-55
131.3
LRD130
736629
4152791
180
-60
265.2
LRD131
737561
4152810
180
-60
353.15
LRD132
736684
4152763
180
-55
242.2
LRD133
736088
4152702
215
-45
183.05
LRD134
737030
4152557
180
-50
131
LRD135
736322
4152969
180
-55
365.7
LRD136
736933
4152546
180
-55
125
LRD137
736635
4152584
180
-57
140
LRD138
736533
4152576
180
-50
104.25
LRD139
736384
4152622
180
-55
101.25
1
Coordinates are in ERTZ89 datum UTM29N
QA/QC Procedures
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and
ranged from 0.4 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
analyzed 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).
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. 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
Minera Los Frailes/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, Romana Deep, 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, 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
FOR FURTHER INFORMATION PLEASE CONTACT:
+44 7766 253145
Jason Mercier, VP Investor Relations and Communications
+1 778-372-7101
www.panglobalresources.com
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.
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TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
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