Pan Global Reports Additional Drilling Success at La Romana Target, Escacena Project, Spain 26.9m at 0.5% Cu, 0.13% Sn, including 1.6m at 1.6% Cu, 0.08% Sn and 1.3m at 1.0% Cu, 0.53% Sn in LRD120 10.1m at 0.8% Cu, 0.18% Sn, 3.1g/t Ag, including 0.3m at 17.3% Cu, 0.56% Sn, 59.3g/t Ag in
Pan Global Reports Additional Drilling
Success at La Romana Target, Escacena
Project, Spain
26.9m at 0.5% Cu, 0.13% Sn, including 1.6m at 1.6% Cu, 0.08% Sn and 1.3m at 1.0% Cu,
0.53% Sn in LRD120
10.1m at 0.8% Cu, 0.18% Sn, 3.1g/t Ag, including 0.3m at 17.3% Cu, 0.56% Sn, 59.3g/t Ag in
LRD125
Follow-up drilling underway and plans include testing 6 new targets
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2022) - Pan Global Resources Inc. (TSXV:
PGZ) (OTC Pink: PGNRF) ("Pan Global" or the "Company") is pleased to announce new drill results at
the Company's 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain. Reported
results comprise eleven drill holes at the La Romana target and two drill holes on geophysics targets at
La Romana North.
Tim Moody, Pan Global President and CEO states: "The latest results add to the down-dip extent of the
main copper and tin zone with hole LRD120 intercepting approximately 27m thickness with grades of
0.5% Cu and 0.13% Sn within a 40m wide copper mineralized interval, and 10.1m at 0.8% Cu and
0.18% Sn in hole LRD125. The results include narrow intervals with some exceptionally high grades,
including 17.3% Cu, 0.56% Sn and 59.3g/t Ag over 0.25m. The new drill results continue to show
potential for the near surface high grade mineralization to continue west for several hundred meters in
the direction of the historic La Romana mine workings. Drilling has also successfully defined the
southern margin of the La Romana mineralization and shows supergene copper mineralization
extending over the footwall to the main copper zone. Assay results are pending for an additional fourteen
drill holes from La Romana."
Mr. Moody added: "Extensive exploration over the entire Escacena project area, including gravity, IP and
surface geochemistry surveys, together with results of the recent heliborne electromagnetic survey, is
highlighting multiple new high priority targets. The current plan includes testing at least six new targets in
2022."
La Romana Highlights include
:
26.9m at 0.5% Cu, 0.13% Sn, 2.6g/t Ag
from 98.6m in
LRD120
, including
0.3m at 1.5% Cu, 1.8% Sn, 11.5g/t Ag
1.6m at 1.7% Cu, 0.08% Sn, 6.8g/t Ag
1.3m at 1.0% Cu. 0.53% Sn, 8.7g/t Ag
10.1m at 0.8% Cu, 0.18% Sn, 3.1g/t Ag
from 105m in
LRD125
, including
0.25m at 17.3% Cu, 0.56% Sn, 59.3g/t Ag
Multiple narrow high-grade intervals in LRD118
, including
1.35m at 1.7% Cu, 11.3g/t Ag, 0.2g/t Au
, from 37.55m
0.3m at 16.9% Cu, 0.03% Sn, 78.6g/t Ag, 0.17g/t Au
from 52.7m
0.3m at 2.6% Cu, 9.2g/t Ag
from 69.2m
0.75m at 4.4% Cu, 21g/t Ag
from 95.15m
0.2m at 2.2% Cu, 30.8g/t Ag, 1,13% Pb, 1.44% Zn
from 112.5m
Figure 1
- La Romana drill hole locations with selected results and newly reported drill holes highlighted.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5190/133193_81ecd477f4e088b8_001full.jpg
La Romana drill results
The latest results are from thirteen drill holes at the La Romana discovery. Drill holes LRD111, 118, 120,
121, 122, 125 and 126 tested down-dip extensions. Drill holes LRD116, 117, 119 and 124 tested the
southern margins of the mineralization. Drill holes LRD97 and 108 tested Induced Polarity (IP)
chargeability anomalies north of La Romana.
Drill hole locations are shown in Figure 1 above and summary cross sections with holes LRD120 and
LRD125 are provided in Figure 2.
Figure 2
- Summary cross sections for new drill holes LRD120 (Section 736335 E) and LRD125
(Section 736135 E) with selected results highlighted in yellow.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5190/133193_81ecd477f4e088b8_002full.jpg
Assay results are summarized in Table 1 below and drill collar information is provided in Table 2. The
drill holes were all inclined towards the south or southwest and all reported drill intervals approximate true
thickness.
Table 1
- Escacena Project, La Romana drill results summary
Hole
Fr
To
Int
Cu
Sn
Ag
Co
Au
Pb
Zn
m
%
ppm
g/t
ppm
g/t
ppm
ppm
LRD97
190.5
191.2
0.7
0.47
23
0.9
53
0.006
14
119
201.8
202.5
0.7
0.8
20
1.7
37
0.012
9
160
215.5
217.1
1.6
0.42
48
1
57
0.005
9
150
227
227.3
0.3
1.55
118
2.6
127
0.006
26
336
235.8
236.6
0.8
0.42
23
1.3
49
0.017
23
113
LRD108
No significant results
LRD111
63.15
63.55
0.4
0.38
28
14.4
85
0.065
2080
1575
80.85
81.85
1
0.61
63
3
62
0.021
128
520
157
158
1
0.32
27
0.5
67
0.002
7
83
163
169
6
0.33
54
0.9
56
0.007
34
99
203.65
204.1
0.45
1.22
510
2
69
0.017
11
100
LRD116
30.0
51.1
21.1
0.20
352
1.3
83
0.01
74
198
30
36
6
0.21
303
1.4
68
<0.01
136
177
42
43
1
0.52
228
0.6
65
0.01
29
304
46.6
51.05
4.45
0.37
494
2.8
132
0.02
113
247
incl.
46.6
47.8
1.2
0.6
1037
5.2
184
0.02
301
335
53.4
54.65
1.25
0.38
189
2.8
126
0.03
161
212
64.95
65.25
0.3
0.67
364
5
142
0.05
346
210
73.8
75.1
1.3
0.64
296
16.7
170
0.11
3670
527
LRD117
34.65
48
13.35
0.33
42
1.1
30
0.01
86
543
incl.
37.35
39.3
1.95
0.91
65
2.1
71
0.03
307
673
incl.
38
38.2
0.2
2.14
59
9.1
339
0.22
426
239
incl.
41
45
4
0.34
42
0.8
24
<0.01
35
667
106.25
106.55
0.3
7.98
133
14.4
189
0.1
456
2150
LRD118
37.55
38.9
1.35
1.67
52
11.3
492
0.2
482
973
52.7
53
0.3
16.9
319
78.6
881
0.17
765
4670
69.2
69.5
0.3
2.62
68
9.2
195
0.03
144
941
95.15
95.9
0.75
4.35
141
21
304
0.1
2620
3730
112.5
112.7
0.2
2.21
116
30.8
199
0.07
11300
14400
LRD119
28
31
3
0.37
100
1
34
<0.01
94
189
incl.
30
31
1
0.61
90
1.5
23
0.01
227
190
51
52
1
0.37
1585
5.7
159
0.03
568
270
LRD120
77.5
77.7
0.2
0.85
619
11.1
140
0.07
3990
5410
86.35
125.5
39.15
0.39
964
2.3
66
0.01
219
536
incl.
86.35
87.65
1.3
0.73
1345
6.5
104
0.02
445
1574
98.6
125.5
26.9
0.49
1251
2.6
73
0.02
219
534
incl.
98.6
107.5
8.9
0.74
2082
3.6
78
0.04
125
380
incl.
98.6
98.85
0.25
1.48
18000
11.5
85
0.04
2360
3650
incl.
105.1
106.65
1.55
1.67
815
6.8
117
0.01
74
413
incl.
121
122
1
0.52
1885
2.5
105
0.02
285
1220
incl.
124.2
125.5
1.3
1.04
5260
8.7
93
0.04
1555
3350
LRD121
60.35
60.55
0.2
2.38
86
11.2
89
0.06
269
755
136.4
153.6
17.2
0.32
55
0.9
53
<0.01
106
232
incl.
153.1
153.6
0.5
4.9
377
15.6
235
0.04
2960
4480
187.55
191.1
3.55
0.37
463
0.5
74
0.01
5
85
217.95
218.2
0.25
1.09
7830
1.7
94
0.05
26
104
LRD122
38.2
46
7.8
0.21
53
3.2
20
0.02
396
282
51.4
52.05
0.65
0.62
45
4
64
0.01
121
656
120.95
121.1
0.15
1.79
96
5.8
87
0.01
23
119
146.75
148
1.25
1.09
69
2.4
78
0.01
59
135
208
210
2
<0.01
6510
0.7
81
0.06
76
39
LRD124
20.5
21.5
1
0.23
43
0.3
45
0.01
72
117
43
44.7
1.7
0.37
3154
0.9
58
0.03
8
46
108.75
110
1.25
0.74
60
0.7
32
<0.01
4
78
LRD125
73
74
1
0.61
3290
2.2
61
0.01
19
89
91
94
3
0.48
93
2.1
53
0.01
34
95
96
97
1
0.3
34
0.8
47
0.01
17
307
101
103
2
0.3
152
0.9
57
0
10
72
105
115.1
10.1
0.78
1846
3.1
99
0.01
14
139
incl.
114.85
115.1
0.25
17.3
5560
59.3
497
0.1
48
740
LRD126
109.2
109.75
0.55
0.63
557
4.2
56
0.03
57
445
126.3
127.7
1.4
0.34
462
3.8
69
0.02
718
641
129.7
130.75
1.05
0.34
2270
2.2
50
0.02
92
402
134.9
136.1
1.2
0.32
1560
2.6
88
0.01
262
458
138.6
141.55
2.95
0.42
1415
2.9
104
0.02
66
137
142.85
143.7
0.85
0.4
1010
2.3
59
<0.01
76
344
245.45
245.65
0.2
0.52
2210
1.5
629
0.14
80
82
Table 2
Escacena Project, La Romana drill hole collar information (Total 1659.7m)
Hole ID
Easting
1
Northing
1
Azimuth (º)
Dip (º)
Depth (m)
LRD097
735979
4153522
180
-70
307.7
LRD108
736571
4153295
180
-60
264.05
LRD111
736021
4152900
220
-55
259.8
LRD116
736785
4152587
180
-55
104.3
LRD117
736934
4152566
180
-55
114.9
LRD118
736939
4152618
360
-85
138.4
LRD119
736434
4152602
180
-55
85.95
LRD120
736312
4152755
180
-55
199.8
LRD121
736036
4152862
180
-55
223.3
LRD122
736036
4152863
220
-55
217.85
LRD124
736134
4152639
180
-55
125.2
LRD125
736134
4152764
180
-55
182.15
LRD126
736233
4152794
180
-55
248.2
1
Coordinates are in ERTS89 datum UTM29N
The results add near-surface copper and tin mineralization down-dip in the north of the La Romana
target area and help to delineate the southern boundary of the mineralized area where near surface
supergene copper mineralization has been confirmed extending south from the main copper zone to the
footwall. The latest drill results continue to show that the copper and tin mineralization remains open to
the west in the direction of the historic La Romana mine workings and down-dip to the north.
Primary mineralization is characterized by stockwork veins, semi-massive sulphides and bands of
massive sulphide, with chalcopyrite and secondary chalcocite as the main copper minerals and
cassiterite as the only observed tin mineral. The copper mineralization is also associated with elevated
levels of silver, as well as locally elevated cobalt and gold. A metal zonation is also apparent,
progressing from copper and tin in the west to copper and zinc in the east.
Drill hole
LRD120
is located approx. 50m down-dip from hole LRD07 and fills a gap in the drilling
between holes LRD18 and LRD43. The hole intersected a broad zone of visible chalcopyrite and
cassiterite mineralization from approximately 86m down-hole depth and shows tin assay values up to
1.8% Sn. Best results include:
39.15m at 0.4% Cu, 0.10% Sn, 2.3g/t Ag
from 86.35m, including
1.3m at 0.7% Cu, 0.13% Sn, 6.5g/t Ag
and
26.9m at 0.5% Cu, 0.13% Sn, 2.6g/t Ag
, includes
0.3m at 1.5% Cu, 1.8% Sn, 11.5g/t Ag
1.6m at 1.7% Cu, 0.08% Sn, 6.8g/t Ag
1.3m at 1.0% Cu, 0.53% Sn, 8.7g/t Ag
Drill hole
LRD125
extends the copper-tin mineralisation approximately 50m down-dip to the north of hole
LRD96 and intersected a 26m wide zone of visible copper mineralization from approximately 89m
down-hole. This includes a 0.25m thick interval with exceptionally high-grade copper and tin. Best results
include:
10.1m at 0.8% Cu, 0.18% Sn, 3.1g/t Ag
from 105m, including
0.25m at
17.3% Cu, 0.56% Sn, 59.3g/t Ag
Drill hole
LRD118
tested a 100m gap between drill holes LRD114 and 29, and intersected several
close-spaced, high-grade copper intervals with plus 1% Cu between 37.55m and 112.70m down-hole
depth. This includes mainly chalcopyrite and lesser secondary chalcocite, and sphalerite and galena in
the lower-most interval. The hole confirmed that high copper grades continue down-dip from LRD114,
which returned 6.7m at 3.1% Cu and 17.5g/t Ag (
PGZ News Release, April 5, 2022
). Results include:
1.35m at 1.7% Cu, 11.3g/t Ag, 0.2g/t Au
from 37.55m
0.3m at
16.9% Cu, 0.03% Sn, 78.6g/t Ag, 0.17g/t Au
from 52.7m
0.3m at 2.6% Cu, 9.2g/t Ag
from 69.2m
0.75m at 4.4% Cu, 21g/t Ag
from 95.15m
0.2m at 2.2% Cu, 30.8g/t Ag, 1,13% Pb, 1.44% Zn
from 112.5m
Drill holes
LRD111, 121, 122 and 126
at the northern limits in the west of the main target area
intersected multiple thin copper-tin intervals. The results indicate decreasing mineralization down-dip
towards the northwest and show grade and thickness increasing up-dip. The mineralization remains
open in the direction of the historic La Romana mine workings located approximately 300m to the west.
Drill holes
LRD117
,
116
,
119
and
124,
from east to west along the southern limits of the mineralized
area, intersected copper mineralization immediately beneath 20 to 30m of cover sediments. Results
show that the shallow supergene chalcocite mineralization present locally over the main copper zone
also extends over the footwall. Selected results include
13.35m @ 0.33% Cu, 1.1 g/t Ag
from 34.65m in
LRD117
,
21.05m @ 0.2% Cu and 1.3 g/t Ag
from 30m in
LRD 116
and
0.3m @ 8% Cu and 14.4 g/t
Ag
from 106.25m down-hole in
LRD117
.
Drill hole
LRD97
was drilled 750m to the north of the main La Romana target testing an IP chargeability
anomaly. The hole intersected approximately 40m of anomalous copper from 190m down-hole
associated with chlorite altered and silicified dacitic volcanics, including
several intervals 0.3 to 1.6m
thick with grades from 0.4 to 1.5% Cu
. The sequence of altered volcanics with copper mineralization
indicates further exploration potential and potentially a separate hydrothermal event in the hanging wall to
the La Romana mineralization.
Drill hole
LRD108
was drilled 450m north of the La Romana deposit testing an IP chargeability anomaly.
The hole intersected a similar package of alternating shales and dacitic volcanics as in LRD97 with less
intense alteration and no significant copper mineralization. However, the hole is weakly anomalous (5 to
10 times background) in lead and zinc over an approx. 70m-wide interval from 160m down-hole with up
to 0.4% Pb + Zn, indicating the outer halo to a potentially large hydrothermal system.
Assay results are pending for an additional fourteen completed drill holes at La Romana. A total of 139
drill holes have now been completed at the La Romana discovery and drilling is ongoing.
Exploration is in progress to refine drill targets over several large gravity anomalies immediately south of
La Jarosa at Pilar, Pilar South and Bravo Norte. Interpretation of the recent heliborne EM survey is
continuing and confirms a conductor anomaly coincident with the La Romana copper mineralization and
shows multiple new untested conductor targets. Current plans include up to sixty additional drill holes and
testing of six new targets, which is a focus for the remainder of 2022.
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).
About the Escacena Project
The Escacena Project includes a large, plus 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 Grupo
Mexico is in the permitting stage to restart mining.
The Escacena Project hosts the La Romana
discovery and a number of other prospective targets, including La Jarosa, Hornitos, Zarcita, 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, P Geo, VP Exploration for 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. Royall is not independent of the Company.
On behalf of the Board of Directors
www.panglobalresources.com
.
FOR FURTHER INFORMATION PLEASE CONTACT:
+44 7766 253145
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