Pan Global Reports Multiple High-Grade Polymetallic Drill Intercepts at the Aguilas Project, Spain 7.3% LEAD+ZINC AND 9.1 G/T SILVER OVER 5.25 METERS 37.6% LEAD+ZINC AND 6.8 G/T SILVER OVER 0.55 METERS
Pan Global Reports Multiple High-Grade
Polymetallic Drill Intercepts at the Aguilas
Project, Spain
7.3% LEAD+ZINC AND 9.1 G/T SILVER OVER 5.25 METERS
37.6% LEAD+ZINC AND 6.8 G/T SILVER OVER 0.55 METERS
Vancouver, British Columbia--(Newsfile Corp. - October 6, 2022) - Pan Global Resources Inc. (TSXV:
PGZ) (OTC Pink: PGNRF) ("Pan Global" or the "Company") is pleased to report results for ten new drill
holes on the 25-kilometer long Zumajo fault/breccia zone and historical mine trend at the Company's
100%-owned Aguilas Project in the Cordoba Province, southern Spain.
Tim Moody, Pan Global President and CEO, commented: "The resumption of drilling on the Aguilas
Project, approximately 200 kilometers north of our Escacena Project, included testing three targets on
the 25-kilometer long Zumajo historic Pb-Ag mine trend. Encouraging drill results were received from the
ten hole program, with significant polymetallic (lead, zinc and silver) assays returned from our first ever
drill holes at the Minguillo Target and follow-up drill holes at the Vacadillas target. The mineralization
remains open at depth and along strike at both targets."
Further commenting, "The vertical extent of this type of mineralization can be several hundred meters as
is characteristic of the important historic Linares and La Carolina Pb-Ag vein mining districts less than
100km to the east. The drilling is currently wide-spaced and tested the mineralization to shallow depths
of less than 150m on small parts of the Zumajo vein/breccia system. Additional drilling is required to
further evaluate this potentially important mineral trend. Together with the announcement of multiple drill
targets at Escacena last week, these results further support the compelling prospectivity of the Pan
Global exploration portfolio."
Highlights
:
22MID01:
6.0m at 0.7% Pb, 4.6% Zn, 3.5g/t Ag
from 102.0m, including
2.2m at 1.9% Pb, 12.3%Zn, 9.2g/t Ag
from 104.9m
22MID02:
5.25m at 2.4% Pb, 4.9% Zn, 9.1g/t Ag
from 156.5m, including
0.55m at 20.8% Pb, 16.8% Zn, 66.4g/t
Ag
from 157.55m and
0.6m at 0.94% Pb, 10.4% Zn, 6.8g/t Ag
and from 160.10m
22VAD01:
7.5m at 2.35% Pb, 0.74% Zn, 13.6 g/t Ag
from 113.5m, including
4.5m at 3.9% Pb, 1.1% Zn, 22.4g/t Ag
from 112.5m
1.5m at 10.9% Pb, 0.2 % Zn, 56.9 g/t Ag
from 113.5m
22VAD04:
3.75m at 4.9% Pb, 0.2% Zn, 36.1g/t Ag
from 98.65m, including
0.55m at 32.7% Pb, 0.13% Zn, 233g/t Ag
from 98.65m
Drill Results
The Aguilas Project mineral rights, drill hole and target locations are provided in Figure 1 below. Assay
results are summarized in Table 1 below and drill collar information is provided in Table 2.
Figure 1
- Aguilas Project shaded terrain map showing soil geochemistry anomalies, drill hole and
priority target locations (2022 drill areas - yellow highlight)
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5190/139674_ff14022104f778ce_001full.jpg
Table 1
- Aguilas Project new drill results summary
Hole
From
To
Interval
Cu
Pb
Zn
Ag
Au
m
%
%
%
g/t
g/t
22MID01
102
108
6
0.01
0.68
4.62
3.5
0.003
104.9
107.1
2.2
0.04
1.85
12.25
9.2
0.006
22MID02
156.5
161.75
5.25
0.02
2.4
4.93
9.1
0.005
inc.
157.55
161.75
4.2
<0.01
3.0
6.10
11.3
0.006
inc.
157.55
158.1
0.55
0.03
20.8
16.75
66.4
0.001
inc.
160.1
160.7
0.6
0.04
0.94
10.40
6.8
0.003
22VAD01
89.7
90.7
1
<0.01
5.51
<0.01
19.4
0.002
112.5
120
7.5
<0.01
2.35
0.74
13.6
0.002
inc.
113.5
118
4.5
0.01
3.88
1.11
22.4
0.004
inc.
113.5
115
1.5
<0.01
10.88
0.17
56.9
0.007
inc.
113.5
113.8
0.3
<0.01
33.7
0.10
159
0.02
inc.
116
117.25
1.25
0.01
0.66
2.71
9.8
0.003
22VAD02
84.5
86.1
1.6
0.01
1.08
0.02
5.7
0.001
22VAD03
No significant results
22VAD04
98.65
102.4
3.75
0.01
4.94
0.20
36.1
0.004
inc.
98.65
99.2
0.55
0.01
32.7
0.13
233
0.022
22VAD05
46.9
49
2.1
<0.01
0.58
0.01
3.2
0.001
80.2
81.75
1.55
0.06
0.36
0.38
3.1
0.002
101
104.85
3.85
0.01
0.37
<0.01
5.0
0.002
22NAD01
22NAD02
No significant results
22NAD03
Table 2
- Aguilas Project drill hole collar information (Total 1530.5m) - Coordinates in ERTS89, UTM
Zone 30N
Hole_ID
Easting
Northing
Azimuth (º)
Dip (º)
End Depth (m)
22VAD01
375310
4240309
220
-65
157.1
22VAD02
375422
4240197
220
-60
145.95
22VAD03
375136
4240388
215
-60
151.05
22VAD04
374461
4240844
210
-65
166.05
22VAD05
374202
4240977
210
-65
171
22MID01
366779
4246071
200
-60
127.5
22MID02
366396
4246177
204
-67
175.25
22NAD01
379577
4236771
220
-55
152.1
22NAD02
379668
4236697
220
-70
146.65
22NAD03
379710
4236661
220
-70
137.85
Minguillo Target
Drill holes
22MID01
and
22MID02
are the first holes at the Minguillo Target. The holes are approximately
400m apart and confirmed significant high grade polymetallic (Pb, Zn and Ag) mineralization extending
beneath the Mina Pasqualin and Mina Chinche historic underground mine workings (see figures 2 and 3
below). The mineralization includes coarse sphalerite and galena over intervals of approximately 5m to
6m within a steep north-dipping quartz-carbonate vein and breccia zone up to 11m thick. The
mineralization remains wide open at depth and along strike, associated with a Pb-Zn soil geochemistry
anomaly that extends from the mine workings for approximately 3 kilometers along the Zumajo Fault
Trend.
Hole
22MID01
tested approximately 30m below the lowest underground mine level at Pasqualin and
intersected
6.0m at 0.7% Pb, 4.6% Zn, 3.5g/t Ag
from 102.0m downhole, including
2.2m at 1.9% Pb,
12.3% Zn, 9.2g/t Ag
.
Hole
22MID02
tested approximately 30m beneath the lowest underground mine level at Chinches and
intersected
5.25m at 2.4% Pb, 4.9% Zn, 9.1g/t Ag
from 156.5m, including
0.55m at 20.8% Pb, 16.8%
Zn, 66.4g/t Ag
and
0.6m at 0.94% Pb, 10.4% Zn, 6.8g/t Ag
.
Figure 2
-
Minguillos Target:
plan view (top) and long section (bottom) showing the locations of the
Mina Pascualin and Mina Chinche historic mine workings, drill holes and Pb-Zn soil geochemistry
anomaly
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5190/139674_ff14022104f778ce_002full.jpg
Figure 3
-
Minguillo Target
geology cross-section with drill hole 22MID01 and historical Mina
Pascualin underground mine workings
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/5190/139674_ff14022104f778ce_003full.jpg
Vacadilla Target
The Vacadilla Target coincides with a semi-continuous zone of lead and zinc mineralization over more
than 2 kilometers strike associated with abundant historic surface and shallow underground mine
workings, including Mina San Juan and Mina San Rafael (see figures 4 and 5 below). New drill holes
22VAD01 to 22VAD05
were designed to follow-up previous wide spaced drilling by Pan Global in 2019
(see Pan Global press release - May 14, 2019). Holes 22VAD01 and 22VAD04 intersected significant
high grade Pb-Zn-Ag mineralization with coarse galena and lesser sphalerite over intervals of
approximately 4m to 7.5m. The results indicate mineralization potentially continues over more than 500m
strike associated with the San Rafael mine workings and remains open below approximately 150m
depth and is also wide open at depth in the east at the Dos Centimos zone. Additional potential is
apparent, associated with a strong Pb-Zn soil anomaly over 2km strike extending from the mine
workings and in potential parallel veins/breccias.
Hole
22VAD01
intersected
7.5m at 2.35% Pb and 13.6 g/t Ag
from 112.5m including
4.5m at 3.9%
Pb, 1.1% Zn and 22.4g/t Ag
and
1m at
5.51% Pb and 19.4g/t Ag from 89.7m
in the hanging wall. The
results extend the mineralization approximately 45m below previous drill hole VAC06 and confirms
additional mineralization within a narrow parallel fault or splay to the main structure.
Hole
22VAD04
, drilled in the west of the San Rafael underground mine workings, intersected a 7m
interval with breccia and veining, including
3.75m at 4.9% Pb, 36.1 g/t Ag and 0.2 % Zn
from 98.65m
and exceptionally high grades up to
32.7% Pb and 233 g/t Ag
over 0.55m.
Figure 4
-
La Vacadilla Target
plan view (above) and long section (below) showing the locations of the
historic San Juan, San Rafael and Dos Centimos underground mine workings, drill holes and Pb-Zn soil
geochemistry anomaly
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/5190/139674_ff14022104f778ce_004full.jpg
Figure 5
-
Vacadilla Target
geology cross-section with new drill hole 22VAD01 and previous drill hole
VAC006 at Dos Centimos showing grade increasing at depth
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/5190/139674_ff14022104f778ce_005full.jpg
Navalaencina Target
New drill holes
22NAD01
to
22NAD03
are the first holes at the Navalaencina Target in the far southeast
of the Zumajo structure, approximately 5km southeast of the Vacadilla Target. The holes tested a lead-
zinc-(copper) soil anomaly and trend of historic surface and shallow San Antonio underground mine
workings. Mine dump material includes samples with coarse galena, chalcopyrite and bornite. All three
holes intersected broad zones of alteration and brecciation over intervals of approximately 20m within
the granitic host rocks with anomalous levels of Cu and Pb over narrow intervals in holes 22NAD01 and
22NAD03.
Quality Control/Quality Assurance
All drill holes were diamond drill core size 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 Pan Global employees. 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) and AAS (method Pb-
AAOre for samples >20% Pb).
Soil geochemistry anomalies in the Vacadilla Target area are defined using 4 acid ICP multielement
analyses and selected samples using 30gm fire assay for Au. At the Minguillos and Navalaencina
Targets, soil samples were analyzed by portable XRF.
About the Aguilas Project
The Aguilas Project is located in the Cordoba Province, approximately 200 km northeast of Pan Global's
Escacena Project, in Andalucia, Spain. The Project includes nine "Investigation Permits" totalling
a16,259 hectares and is owned 100% by Pan Global. The Project includes two major fault zones,
including the northwest trending Zumajo structure and northeast trending Torrubia structure, both entirely
within and cross-cutting the Carboniferous age Pedroches Batholith. The Zumajo structure extends
approximately 25 kilometers with continuous trend of hydrothermal quartz-carbonate veins and breccias
up to approximately 20m width with polymetallic (Pb-Zn-Ag-Cu) mineralization and numerous historical
surface mine workings and shafts. The Torrubia structure extends for approximately 15 km and is
characterised by quartz-carbonate breccia to widths of more than 50 meters, with strong red hematite
alteration, numerous ancient/historic copper mine workings and high-level iron oxide copper gold
(IOCG)-style mineralization. Mining for Cu and Pb-Ag ceased in the area the early 1900's and has no
history of zinc mining. Pan Global is undertaking the first modern exploration and drilling in the majority of
the area. Numerous parallel fault trends have also been identified throughout the project area and remain
prospective for base and precious metal mineralization.
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, VP 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
www.panglobalresources.com
.
FOR FURTHER INFORMATION PLEASE CONTACT:
+44 7766 253145
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