Pan Global Resources Mobilizes for Expanded Drill Program at Escacena Project, Spain Drill program to focus on testing and extending the multi-layer copper-tin-silver mineralization at the La Romana target
Pan Global Resources Mobilizes for Expanded
Drill Program at Escacena Project, Spain
Drill program to focus on testing and extending the multi-layer
copper-tin-silver mineralization at the La Romana target
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2020) -
Pan Global Resources Inc.
(TSXV:
PGZ)
(OTC:
PGNRF
) (the "Company") is pleased to announce that preparations have commenced for
the next round of follow-up drilling at the La Romana copper discovery in the Escacena Project, southern
Spain (Figure 1). The drilling aims to further test continuity and potential extensions to the near-surface
high grade copper mineralization.
Tim Moody, President and CEO of Pan Global Resources commented, "We are excited to resume
drilling at the La Romana target following the strong response to the recent private placement. The
additional proceeds from the financing has allowed the Company to expand the next drill program and
accelerate exploration in the Escacena project. The Company will add a second drill rig as soon as
possible."
The new drill program includes up to twenty-five core holes for a total of approximately 3,500 meters. The
planned drilling will include step-out holes testing strike and dip extensions of the copper mineralization
intersected in the previous drill holes. The new drill holes 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.
Historical mise-a-la-masse and IP geophysics
show additional upside potential East and West over more than 2 kilometers of strike.
Through its Spanish subsidiary, Minera Escacena, the company has completed 8 drill holes at La
Romana with every drill hole intersecting copper mineralization over a strike length of more than 350m
and open in most directions. The copper mineralization occurs in at least three shallow (approximately
30-35 degrees) north dipping copper layers extending from near surface. 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.
Mr. Moody added, "This next drill program is a significant milestone for Pan Global and an opportunity to
significantly expand the copper mineralization. The Company looks forward to providing more details on
the drilling as work proceeds. The company is closely monitoring and following local regulations in
relation to COVID-19".
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.
Figure 1: Escacena Project Location
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5190/60690_115f262024d5186b_001full.jpg
[1]
Pan Global Resources news release October 23, 2019
[2]
Pan Global Resources news release April 22, 2020
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