Pan Global Resources Commences 3,500m Drill Program at Escacena Project, Spain Phase 3 drill program commenced at La Romana Up to 25 drill holes, approximately 3,500 meters, to significantly expand the copper mineralization
Pan Global Resources Commences 3,500m
Drill Program at Escacena Project, Spain
Phase 3 drill program commenced at La Romana
Up to 25 drill holes, approximately 3,500 meters, to significantly expand the copper
mineralization
Fully funded for expanded drill program
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2020) -
Pan Global Resources Inc.
(TSXV:
PGZ
) (OTC:
PGNRF
) (the "Company") is pleased to announce follow-up drilling has now commenced at
the La Romana copper target in the Escacena Project, Iberian Pyrite Belt, southern Spain.
Tim Moody, President and CEO of Pan Global commented: "We are excited to once again be drilling at
the La Romana target. The aim of this drill phase is to start defining the geometry and significantly
expand the copper mineralization over approximately 800 meters of strike. The planned drill holes will
also test the multi-layer potential and help to define vectors to areas of stronger mineralization."
The Phase 3 drill program includes up to twenty-five core holes for a total of approximately 3,500 meters.
The planned drilling includes step-out holes testing strike and dip extensions of the copper mineralization
intersected in the previous drill holes. The drilling will progress on approximately 50-meter centers in all
directions from the previous drill holes and also include several step-out holes beyond 50 meters.
This program will also further test two large down-hole EM conductor plate anomalies and multi-layer
copper potential. The down-hole EM conductor plates coincide with the copper mineralization in two
separate layers and indicate potential for the mineralization to extend along strike, up and down dip.
The drill hole sequence will be adjusted as the program advances according to results. One drill rig is
currently operating with the potential to add a second rig as the program advances. Pan Global is fully
funded for an expanded drill program.
Previous highlights include drill hole
LRD-02
[1]
which intersected
20.55m at 1.5% CuEq
(1.02% Cu,
0.11% Sn, 4.7g/t Ag) from 37m, including
7m at 3.43% CuEq
and hole
LRD-05
[2]
which intersected
21m at 1.55% CuEq
(1.19% Cu, 0.07% Sn, 5.8g/t Ag) from 16m down-hole depth. The copper
mineralization occurs in at least three shallow north dipping (approximately 30-35 degrees) copper
layers extending from near surface. Historical mise-a-la-masse and IP geophysics show additional
upside potential East and West over more than 2 kilometers of strike.
Qualified Person
Robert Baxter (FAusIMM), 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. Baxter is not independent of the Company.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain, and is
pursuing opportunities from exploration through to mine development.
The company has 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:
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. 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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
________________________________________
[1]
Pan Global Resources news release October 23, 2019
[2]
Pan Global Resources news release April 22, 2020
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/61333