Pan Global Resources Expands Step Out Drill Program at the Escacena Project, Spain
Pan Global Resources Expands Step Out Drill Program at
the Escacena Project, Spain
Vancouver, British Columbia--(Newsfile Corp. - March 11, 2020) -
Pan Global Resources Inc.
(TSXV:
PGZ
) (OTC:
PGNRF
)
(the "Company") is pleased to report two more drill holes will be added to the step out drill program now in progress at the La
Romana copper target in the Escacena Project, Iberian Pyrite Belt, southern Spain. A detailed infill gravity survey has also
commenced to better delineate the target.
Tim Moody, President and CEO of Pan Global Resources, commented, "With copper mineralization in each step out drill hole
completed so-far, we are excited to add two more drill holes to further extend the mineralization."
The company has completed four diamond drill holes (LRD03, LRD04, LRD05 and LRD06) in the first step-out program at the
La Romana target.
These holes test along strike, up and down dip from hole LRD-02 which intersected
20.55 meters at 1.5%
Cu equivalent
from 37 meters, including
7 meters at 3.43% Cu equivalent
. Copper mineralization has been intersected in all
of the drill holes, including semi-massive to massive sulphide and stringer style sulphides. Assay results for the first three new
holes are expected before the end of March with the remainder to follow. Hole locations are shown in Figure 1.
Holes LRD03 and LRD04 stepped approximately 50 meters West and East, respectively, from hole LRD02. Hole LRD05 tested
approximately 25 meters up-dip and hole LRD06 approximately 50 down-dip, from LRD02.
The new drill holes indicate the copper mineralization in hole LRD02 continues along strike East and West, down-dip and up-dip
to within 12.5 meters from surface, and remains open all directions. A deeper pyrite-dominant sulphide zone has also been
intersected up to several tens of meters thick, including intervals of banded or stratiform massive sulphide and local stringer style
chalcopyrite.
Two more drill holes will be added to the program to test for further extensions of the copper mineralization. Hole LRD07 will step
approximately 100 meters West from hole LRD02, where down-hole electromagnetics (DHEM) shows a conductor coincident
with the copper mineralization in LRD02 is increasing in this direction. Hole LRD08 will test approximately 200m East from
LRD02 and also aim to intersect the upper southwestern corner of an off-hole DHEM conductor below hole LRD01 (ended in
0.59% Cu eq).
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.
Figure 1 -
La Romana target area and diamond drill hole collar locations
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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:
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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.
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