Pan Global Resources Reveals Promising Copper and Gold Targets in Spain's Cármenes Project

Pan Global Resources Inc. (TSXV: PGZ, OTCQB: PGZFF, FRA: 2EU) has recently made headlines with the announcement of significant mineralization findings at the Providencia target within their 100%-owned Cármenes Project in northern Spain. This discovery involves incredibly high-grade deposits of copper, cobalt, nickel, and gold, building excitement among geologists and investors alike.

The recent channel sampling at this historical mining site displayed remarkable results. Samples revealed grades such as 4.17% copper, 2.68% nickel, 1.28% cobalt, and 0.88 g/t gold over intervals of five meters. More impressively, certain samples indicated peak values of 11.0% copper and 4.47% nickel over shorter one-meter intervals. These results suggest that the Providencia mine, operational until the 1930s, contains mineralizations extending over large sections, and particularly rich zones are still left to be explored.

Exciting Potential Explored

Tim Moody, the President and CEO of Pan Global, expressed enthusiasm over the Cármenes project stating, "The results confirm the high-grade nature of the previously mined sulphide-rich copper-nickel-cobalt mineralization. The findings from these new channel samples and mapping efforts are crucial in understanding the geological framework and potential expansion zones."

The company emphasizes that additional drilling is necessary to further explore the potential for high-grade deposits, particularly in the western section where the most significant copper and nickel samples have been sourced. Current drilling activities are focused on evaluating a new gold target in proximity to the previous mine workings, thereby opening a new chapter for mineral exploration in this historically rich area.

Geological Insights

The detailed underground channel samples, totaling 86 continuous saw-cut samples collected over one-meter intervals, have provided valuable geological insights. These samples indicate a robust, pipe-like geometry of sulphide-rich mineralization extending at least 120 meters in depth. The discoveries reiterate the importance of the region as it is positioned within a geologically significant belt that includes successful mining operations by other companies.

Moreover, the geological layout indicates that the mineralization continues to expand in various directions. This signals a promising outlook for future exploration and potential mining operations in both the Providencia and nearby Profunda areas, where surface exploration has also shown promise for multiple mineralization targets.

Ongoing and Future Work

In parallel with the developments at Providencia, drilling is also taking place at the Escacena Project, located south in the Iberian Pyrite Belt. The Escacena site has attracted attention due to its copper-tin-silver discoveries, which further highlight Pan Global's commitment to identifying valuable mineral resources within Spain.

The company plans to provide updates and anticipated results from their current drilling program in the coming months, bringing the mining and investment community closer to understanding the full potential of these promising mineral-rich targets.

Given the strong global demand for copper as a critical metal in energy transition and electrification initiatives, the developments at Pan Global's Cármenes Project align well with industry trends, making it a noteworthy project for investors and stakeholders in the mining sector. With continued exploration and a strategic focus on expanding their findings, Pan Global Resources is well-positioned to capitalize on growing market opportunities.

For more insights and updates, visit Pan Global Resources’ official website.