Pan Global Reports New Drill Results and Extends High Grade Copper at La Romana, Southern Spain Continued high-grade intercepts including 18m at 1.0% Cu eq, 6m at 2.44% Cu eq, 10.6m at 1.55% Cu eq and 10.35m at 1.23% Cu eq
Pan Global Reports New Drill Results and
Extends High Grade Copper at La Romana,
Southern Spain
Continued high-grade intercepts including 18m at 1.0% Cu eq, 6m at 2.44% Cu eq, 10.6m at
1.55% Cu eq and 10.35m at 1.23% Cu eq
Exceptionally high-grade massive sulfide with up to 17.05% Cu, 0.16% Co, 42.7g/t Ag,
0.22g/t Au (18.7% Cu eq) over 0.43m
Thick copper, tin, silver intervals to within 0.5m from surface, including 67.5m at 0.54% Cu
eq and 50.1m at 0.50% Cu eq extending the open pit target which remains open in several
directions
Vancouver, British Columbia--(Newsfile Corp. - February 23, 2021) - Pan Global Resources Inc. (TSXV:
PGZ) (OTC: PGNRF) (the "Company") is pleased to report results for an additional five drill holes
(LRD21, LRD22, LRD24, LRD25 and LRD27) from the Phase 3 drill program completed in 2020 at the
La Romana target, in the Escacena Project. The Phase 4 drill program is also underway, with six
additional holes completed and results pending. 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 results confirm continuity of the near
surface copper mineralization to within 0.5m depth from surface and increasing in thickness to the east.
This near surface thick mineralization has now been intercepted over a strike extent of over
approximately 500m and is still wide open.
"The results also provide continued confirmation of extensions of the deeper high-grade massive
chalcopyrite mineralization in the northeast, including the highest copper assays reported to-date at La
Romana with assay values up to 17.05% Cu, 0.16% Co, 42.7g/t Ag, 0.22g/t Au. The copper
mineralization corresponds strongly with the IP and down-hole EM geophysics and indicates excellent
potential to significantly extend the mineralization in all directions."
Mr. Moody added: "Assay results are pending for drill holes LRD26 and LRD28 from Phase 3 and the
Phase 4 drill program is advancing quickly with an additional six drill holes already completed (LRD29 to
LRD34) and showing visible copper mineralization."
Drill highlights
:
LRD22
intersected
18.0m at 1.0% Cu eq
(0.87% Cu, 2.6 g/t Ag, 0.02g/t Au) from 259m,
including;
6m at 2.44% Cu eq
(2.19% Cu, 0.02% Co, 5.7 g/t Ag, 0.03g/t Au) from 259m including;
0.43m at 18.7% Cu eq
(17.05% Cu, 0.16% Co, 42.7g/t Ag, 0.22g/t Au) from 260.8m
(
massive chalcopyrite
)
LRD24
intersected
50.1m at
0.50% Cu eq
(0.35% Cu, 2.1g/t Ag, 0.03% Sn) from 15.5m
and
an
additional
25.9m at 0.41% Cu eq
(0.25% Cu, 1.5g/t Ag, 0.03% Sn) from 77.5m, including;
30.0m at 0.64% Cu eq
(0.45% Cu, 2.6g/t Ag, 0.04% Sn) from 26m;
7m at 1.18% Cu eq
(0.83% Cu, 4.4g/t Ag, 0.08% Sn)
from 26m
1.5m at 1.12% Cu eq
(0.82% Cu, 3.4g/t Ag, 0.07% Sn)
from 54.5m
LRD25
intersected
67.5m at 0.54% Cu eq
(0.34% Cu, 3.0 g/t Ag, 0.04% Sn) from 0.5m,
including;
37.25m at 0.73% Cu eq
(0.46% Cu, 3.2g/t Ag, 0.06% Sn) from 26.7m
1.1m at 1.42% Cu eq
(1.14% Cu, 13.8g/t Ag, 0.02% Sn) from 48.2m
10.35m at 1.23% Cu eq
(0.67% Cu, 4.1g/t Ag, 0.16% Sn) from 53.6m
2m at 3.05% Cu eq
(1.46% Cu, 7.9g/t Ag, 0.49% Sn) from 53.6m
0.2m at 4.77% Cu eq
(3.45% Cu, 15g/t Ag, 0.35% Sn) from 84.3m
LRD27
intersected
23.5m at 0.32% Cu eq
(0.21% Cu, 2.6g/t Ag) from 5.5m followed by
30.2m at
0.85% Cu eq
(0.62% Cu, 3.7g/t Ag, 0.05% Sn) from 65.8m, including;
10.6m at 1.55% Cu eq
(1.19% Cu, 6.5g/t Ag, 0.08% Sn) from 65.8m
7m at 2.03% Cu eq
(1.59% Cu, 8.7g/t Ag, 0.09% Sn) from 65.8m
Drill results
The new drill results are from holes completed in late 2020 as part of Pan Global's Phase 3 drill program
targeting extensions of the volcanic hosted massive sulphide associated mineralization at the La
Romana discovery. The program included a mix of 50 x 50m pattern drilling for dimension and grade
continuity in the west and larger step-out holes in the east testing large downhole electromagnetic
(DHEM) conductor and IP chargeability anomalies.
Drill hole collar information for holes LRD21, LRD22, LRD24, LRD25 and LRD27 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 LRD24, 25 and 27 are provided in Figure 2. The drill holes were all inclined
towards the south and all reported drill intervals are approximately true width.
Table 1
Escacena Project, La Romana drill hole collar information (Total 1109.35m)
Hole ID
Easting
1
Northing
1
Azimuth (º)
Dip (º)
Depth (m)
LRD21
736837
4152836
180
-45
301.8
LRD22
736934
4152905
180
-50
314.1
LRD24
736535
4152651
180
-55
132.2
LRD25
736588
4152655
180
-55
161.1
LRD27
736582
4152697
180
-55
200.15
1
Coordinates are in ERTS89 datum UTM29N
Table 2
- Escacena Project, La Romana drill results summary
Hole
Fr
To
Int
Cu eq
1
Cu%
Sn
Ag
Co
Au
Pb
Zn
m
%
%
ppm
g/t
ppm
g/t
ppm
ppm
LRD21
167.3
167.7
0.4
5.03
4.44
287
14.0
449
0.11
143
513
194.6
222.0
27.4
0.27
0.20
58
1.2
49
0.01
101
362
194.6
195.6
1.0
1.53
1.33
80
5.3
151
0.05
109
2130
226.2
235.0
8.8
0.38
0.25
81
2.1
99
0.02
200
607
226.2
226.8
0.6
2.09
1.72
130
7.3
348
0.06
118
767
LRD22
238.5
239.0
0.5
2.86
2.57
75
12.0
153
0.04
54
205
253.3
253.7
0.4
1.76
1.59
48
4.7
154
0.02
20
91
259.0
277.0
18.0
1.00
0.87
70
2.6
111
0.02
84
194
259.0
265.0
6.0
2.44
2.20
74
5.7
233
0.03
27
151
260.8
261.23
0.43
18.68
17.05
267
42.7
1550
0.22
107
656
312.1
313.1
1.0
1.04
0.66
59
19.6
127
0.04
224
175
LRD24
15.5
103.4
87.9
0.42
0.28
281
1.7
64
0.00
134
303
15.5
65.6
50.1
0.50
0.35
317
2.1
62
0.00
92
309
26.0
56.0
30.0
0.64
0.45
416
2.6
70
0.00
93
295
26.0
33.0
7.0
1.18
0.83
783
4.4
122
0.01
124
413
77.5
103.4
25.9
0.41
0.25
325
1.5
76
0.01
272
284
94.0
95.1
1.1
1.14
0.77
745
2.7
219
0.01
360
313
LRD25
0.5
68.0
67.5
0.54
0.34
385
3.0
64
0.01
180
373
0.5
8.5
8.0
0.47
0.31
76
6.8
47
0.03
784
406
26.7
63.95
37.25
0.73
0.46
620
3.2
75
0.01
118
369
48.2
63.95
15.75
0.98
0.56
1098
4.1
68
0.01
137
461
48.2
49.3
1.1
1.42
1.14
154
13.8
84
0.02
517
597
53.6
63.95
10.35
1.23
0.67
1574
4.1
76
0.01
111
460
53.6
55.6
2.0
3.05
1.46
4932
7.9
99
0.01
159
361
84.3
84.5
0.2
4.77
3.45
3460
15.0
187
0.03
97
437
141.9
142.1
0.2
1.69
0.54
3090
3.1
149
0.15
88
77
LRD27
5.5
29.0
23.5
0.32
0.21
78
2.6
62
0.02
199
436
19.0
29.0
10.0
0.47
0.33
76
3.3
86
0.04
121
426
65.8
96.0
30.2
0.85
0.62
460
3.7
74
0.00
72
560
65.8
83.0
17.2
1.06
0.81
491
4.7
79
0.01
81
742
65.8
76.4
10.6
1.55
1.19
758
6.5
95
0.01
76
863
65.8
72.8
7.0
2.04
1.59
943
8.7
108
0.01
95
1152
68.9
70.3
1.4
4.18
3.23
2120
18.1
167
0.01
232
1880
92.0
94.0
2.0
1.12
0.70
1135
3.7
78
0.01
24
333
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 (Cu eq)
values are for exploration purposes only and include no assumptions for metal recovery.
The new results show the high-grade massive chalcopyrite associated copper mineralization continues
to the east and remains wide open in most directions coincident with a large down-hole EM conductor
plate. The near surface copper mineralization has also been extended on consecutive 50m-spaced
sections to the east, including the widest copper intervals reported to date and remains open down-dip
and along strike. The mineralization includes mainly stockwork, semi-massive and bands of massive
sulphides, including chalcopyrite and pyrite associated with chlorite alteration. The mineralization also
includes elevated levels of tin, silver, cobalt and locally anomalous gold. The tin occurs as cassiterite and
mainly in the west and center of the area drilled to date.
Drill hole
LRD21
tested a downhole EM conductor approximately 50m west and 30m up-dip from hole
LRD14. The hole intersected 27.4m at 0.27% Cu eq from 194.6m downhole and several narrow copper
intervals, including 1m at 1.33% Cu eq approximately coincident with the conductor target, 5.03% Cu eq
over 0.4m from 167.3m and 2.09% Cu equivalent over 0.6m from 226.2m.
Drill hole
LRD22
was designed to extend the high-grade copper mineralization associated with a large
downhole EM conductor anomaly. The hole intersected 18m at 1.0% Cu eq from 259m downhole,
including 6m at 2.44% Cu eq and assays up to 17.05% Cu, 0.16% Co, 18.7g/t Ag and 0.22g/t Ag
associated with a 0.43m thick massive chalcopyrite interval. The results confirm the continuation and
increasing thickness of the high-grade mineralization to the east and down-dip from previous drill holes
LRD14, 15 and 19 at approx. 200m vertical depth. The massive chalcopyrite associated mineralization
remains open down-dip, up-dip and laterally coincident with the downhole EM conductor anomaly. The
hole also intersected additional narrow high-grade intervals, including 2.86% Cu eq over 0.5m from
238.5m and 1.76% Cu eq over 0.4m from 253.3m downhole.
Drill hole
LRD24
tested 50m up-dip of previous hole LRD10 and 50m east of hole LRD11. The results
show a thick zone of copper mineralization almost from surface, including 50.1m at 0.5% Cu eq (0.35%
Cu, 2.1g/t Ag, 0.03% Sn) from 15.5m downhole, which includes 30m at 0.64% Cu eq from 26m and
higher-grade interval of 7m at 1.18% Cu eq from 26m downhole (approx. 20m vertical). A deeper low
grade copper zone includes 25.9m at 0.41% Cu eq from 77.9m downhole.
Drill hole
LRD25
tested 50m east of LRD24. The hole confirmed continuation of the near surface copper
mineralization and increasing thickness to the east. The results show a 67.5m interval averaging 0.54%
Cu eq (0.34% Cu, 3g/t Ag, 0.04% Sn) from 0.5m downhole. This includes 8m at 0.47% Cu eq from 0.5m
immediately beneath a thin soil cover, followed by 37.25m at 0.73% Cu eq from 26.7m downhole with
higher grade intervals of 1.1m at 1.42% Cu eq and 10.35m at 1.23% Cu eq and locally significant tin
grades (up to 0.89% Sn). Additional narrow high-grade intersections include 4.77% Cu eq over 0.2m
from 84.3m and 1.69% Cu eq over 2m from 141.9m.
Drill hole
LRD27
tested approximately 50m down-dip from LRD25. The hole shows a low-grade copper
interval commencing immediately beneath the cover sediments, including 23.5m at 0.32% Cu eq,
including 10m at 0.47% Cu eq, followed by 30.2m of higher grade at 0.85% Cu eq from 65.8m,
including10.6m at 1.55% Cu eq from 65.8m downhole. Copper grade is increasing down-dip on this
section.
Assay results for drill holes LRD26 and LRD28, completed in late 2020, are expected within the next two
weeks. The 2021 Phase 4 drill program is advancing quickly with an additional six drill holes completed
(LRD29 to LRD34) and results awaited. The drill holes continue to show intervals with visible copper
mineralization from near surface.
Figure 1
- La Romana drill hole locations and geophysics targets
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5190/75140_b525439fc4a1488b_001full.jpg
Figure 2
- Summary drill sections (736535 E and 736585 E)
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5190/75140_b525439fc4a1488b_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 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).
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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regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual
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