Pan Global Resources Intersects Massive Chalcopyrite in Two New Drill Holes at the Escacena Project, Spain
Pan Global Resources Intersects Massive
Chalcopyrite in Two New Drill Holes at the
Escacena Project, Spain
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2020) -
Pan Global Resources Inc.
(TSXV:
PGZ
) (OTC:
PGNRF
) (the "Company") is pleased to report the ongoing Phase 3 drill program is
continuing to intersect copper mineralization at the La Romana copper target in the Escacena Project,
Iberian Pyrite Belt, southern Spain.
As reported in the Press Release of September 8, 2020, the first five drill holes of the current program all
returned visual copper mineralization.
Of significance, the next two recently completed drill holes (LRD14
to LRD15) have intersected massive chalcopyrite mineralization within a broad zone of stockwork pyrite-
chalcopyrite mineralization. Hole LRD014 intersected the massive chalcopyrite at a down hole depth of
224.1m (See Photo 1 below). Hole LRD015 was then drilled down dip to test the potential continuity of
the massive chalcopyrite zone. Hole LRD15 again intercepted massive chalcopyrite at a down hole
depth of 225.9m (See Photo 2 below). Both intercepts are being sent to the laboratory and assay results
are awaited. Down-hole geophysics is also planned following the recent drill holes.
Tim Moody, President and CEO of Pan Global commented:
"The intersections of massive chalcopyrite
mineralization in the two new drill holes is highly encouraging as we continue to expand the La
Romana target. Every hole drilled on the property to date has intercepted visual copper over wide
intervals, but these massive chalcopyrite intercepts could be very significant in terms of exploration
potential."
Mr. Moody added: "
Whilst we are awaiting assay results, the exploration continues to show excellent
potential for a significant new copper deposit commencing near to surface and wide open in several
directions. On the strength of the results of the new drilling, additional drill holes are now being
planned and preparations are being made to add a second drill rig."
The Company has completed seven drill holes (LRD09 to LRD15) as part of the Phase 3 drill program
for a total of 1377.95m. The program envisages approximately twenty-five drill holes and 3,500m aimed
at expanding the copper mineralization along strike, up and down dip from the previous drilling. Each of
the drill holes has intersected visual copper mineralization.
Previous drill highlights at La Romana include LRD02, which intersected
20.55m at 1.5% Cu
equivalent
from 37m, including
7m at 3.43% Cu
equivalent, and LRD-05 with
21m at 1.55% Cu
equivalent from
12m, including
11m at 2.60% Cu
equivalent.
Drill holes
LRD14 and LRD15
are the eastern-most drill holes completed to date at La Romana. The
massive chalcopyrite intersected in both holes is coincident with a large down-hole EM conductor. The
intersections are approximately 50m apart and show continuity at approximately 170 to 200m vertical
depth. The massive sulphide occurs near the top of a more than 60m thick pyrite, pyrite-chalcopyrite
stockwork zone with bands of semi-massive sulphides. The mineralization is open up and down dip, and
appears to be increasing in thickness towards the east.
Drill hole locations are shown on Figure 1 below. Hole LRD14 was drilled approximately 130m north-
east of hole LRD09 and inclined approximately -50
°
towards the south targeting the lower DHEM
conductor. Hole LRD15 was collared from the same platform as LRD14 and inclined approximately -61
°
south, designed to test the continuity of the massive chalcopyrite in LRD14.
The Phase 3 drilling shows copper mineralization continues from near surface in several directions and
confirms a strong coincidence with geophysics targets. Numerous geophysics targets at Escacena
remain to be tested. Additional down-hole EM and mise-a-la-masse surveys are planned at the recent
drill holes to identify extensions to the mineralization. Assay results are awaited.
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.
Photo 1
- LRD14 massive chalcopyrite
To view an enhanced version of Photo 1, please visit:
https://orders.newsfilecorp.com/files/5190/64742_24454312e4f3d87e_001full.jpg
Photo 2
- LRD15 massive chalcopyrite
To view an enhanced version of Photo 2, please visit:
https://orders.newsfilecorp.com/files/5190/64742_24454312e4f3d87e_002full.jpg
Figure 1
- Drill hole locations.
To view an enhanced version of Figure 1 please visit:
https://orders.newsfilecorp.com/files/5190/64742_24454312e4f3d87e_003full.jpg
About Pan Global Resources
Pan Global Resources 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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regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual
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