Pan Global Provides an Update ON Exploration Activities ON the Aguilas Project IN Spain
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March 2, 2018
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PAN GLOBAL PROVIDES AN UPDATE ON EXPLORATION ACTIVITIES ON THE
AGUILAS PROJECT IN SPAIN
VANCOUVER, BRITISH COLUMBIA – (March, 2018) – Pan Global Resources Inc.
(“Pan Global” or the "Company") (TSX Venture Exchange: PGZ) is pleased to provide
an update on exploration activities including new results from on-going field work on
the Aguilas Copper and Lead-Zinc-Silver Project in Spain.
Geophysical surveying has commenced in the Aguilas Project . The survey is
designed to test the geophysical responses over Cu and Pb -Zn-Ag targets,
including ground magnetics and radiometrics, Induced Polarity (IP) and
magnetotellurics (MT). The results will assist drill hole prioritization.
Massive barite has been discovered cross-cutting the Zumajo Trend approximately
2 km Northwest of the Aguilas Pb-Ag mine. Whilst barite is not a primary objective
for Pan Global, it could have commercial value if the quality meets requirements
for use in the drilling or chemical industries. The barite occurs in at least two parallel
dykes a few metres apart, each approximately 1 m wide and open along strike.
The barite is exposed over an estimated 60 m of strike in several small pits and a
~20 m long trench, with potential to extend further along a 400 – 500 m northeast
trending ridge. A total of 6 rock chip samples were collected returning a maximum
of 59% BaO ( ~90.6 % BaSO4), average 50.5 % BaO (~77.4 % BaSO 4) and low
levels of deleterious metals, including Cd, Hg and Pb . The results indicate the
barite chemistry has potential to meet standards for commercial purposes. Further
metallurgical tests and sampling would be required to confirm potential economic
significance. Barite occurs elsewhere in the project associated with Pb-Zn-Ag and
Cu mineralization. Results are tabulated below:
ALS Chemex ME-XRF26 ME-XRF26 Calculated* ME-ICP61 Hg-MS42 ME-ICP61
BaO SO3 BaSO4 Cd Hg Pb
SAMPLE % % % ppm ppm ppm
S301875 57.0 30.2 86.8 <0.5 0.113 45
S301876 39.9 21.2 60.7 <0.5 0.12 125
S301877 52.0 27.7 79.1 <0.5 0.094 187
S301878 42.9 23.1 65.3 <0.5 0.225 2060
S301879 59.5 31.9 90.6 <0.5 0.049 309
S301880 51.5 27.6 78.4 <0.5 0.042 41
Average 50.5 27.0 76.8 0.0 0.11 461
* Conversion factor BaO% x 1.52211 = estimated barite mineral content
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Reconnaissance grab sampling on the western extension of the Zumajo Trend has
identified abundant coarse sphalerite along with galena and copper on the dumps
near the Pasqualin, La Chinches and Tres Cruces mines. New results for selected
dump samples include from 3.82% to >30% Zn (above upper detection) , up to
4.94% Pb and 34.2g/t Ag. The historic mines from where the samples were
obtained include several shafts ranging from 40-125 m depth and a series of small
surface workings extending over at least 600-800 m of strike. The mines were last
operated in the 1950’s extracting Pb and Ag. There is no record of zinc or copper
being produced from the mines and no previous drilling . F urther exploration is
required.
High copper values have been returned from sampling on regional exploration
targets identified from a new geological interpretation . Ancient copper workings
and hematite and quartz breccias have been identified on several northeast
trending structures, e.g. at Los Lazos where high copper was reported previously.
The ancient mine workings are not generally marked or identified on published
maps. Prospecting is on-going. New results include;
o In the Nort hwest of the project, a 1-2 m wide structure with indications of
high grade copper is exposed in two ancient mine workings approximately
200 m along strike from each other . Rock chip samples and selected
samples from the adjacent mine dumps returned up to 11.95% Cu, 1.33%
Pb and 30 .5 g/t Ag. The dump material includes chalcopyrite, bornite and
various secondary copper minerals.
o Small copper workings were found at Cerro Carabina on a >1 kilometre
Northeast trending structure cutting the Zumaj o Trend and approximately
400 m West of the barite dykes. A more than 2 m wide structure is exposed
in the mine workings with abundant copper oxides (malachite and
chrysocolla), chalcocite and chalcopyrite with quartz , hematite and some
barite (results pending) . Float samples found nearby returned 0.48% Cu,
2.01% Pb and 10 g/t Ag.
o An area with abundant and leached boulder float has been located
approximately 800 m to the North and parallel to the Zumajo Trend. Quartz
textures in the float are similar to the Pb -Ag mineralized sections of the
Zumajo Trend. Although no outcrop has been located, best results so -far
from the boulders include up to 20g/t Ag.
o Reconnaissance sampling results are awaited from several other locations.
A new 1,406 hectare mineral right application has been submitted adjacent to the
Northwest of the project area targeting additional copper.
Tim Moody, President and CEO comments: “Good progress is being made on the
Aguilas Project, with several large high priority copper and lead -zinc-silver targets
already identified and new targets to follow-up. We are pleased the geophysics survey
has commenced and continue to be encouraged by the multi-metal potential in the
district. High quality barite also offers a new opportunity to add value. Drilling is now
anticipated to commence in May or June and we expect significant news flow
throughout 2018.”
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Analytical methods and Quality Control
All samples were submitted to ALS Laboratories in Seville, Spain. Rock samples were
crushed, split and pulverized and then analyzed with a 36 element Mass spectrometry
and ICP-AES analysis following a 4-acid digestion. Au was determined by 30g Fire
Assay with ICP-AES finish. Rocks returning above detection for Cu, Pb and Zn were
re-assayed using an ore grade analysis by conventional ICP -AES with a 4-acid
digestion. Barite samples were also crushed, split and pulverised for analysis by
Whole Rock XRF Fusion with a sample of the pulps also analysed by conventional
ICP-AES with a 4-acid digestion for 36 elements plus Hg by trace ICP-MS.
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 b asis 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 m ine
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:
JIM ROYALL
VP Exploration
Email: [email protected]
TIM MOODY
President & CEO
E-mail: [email protected]
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 Co mpany'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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