Pan Global Expands High-Grade Copper and Cobalt Targets in Spain's Cármenes Project

Expansion of High-Grade Copper and Cobalt Targets at Cármenes Project

Pan Global Resources Inc. is making significant strides in its exploration efforts at the Cármenes Project in northern Spain. Recent results from detailed underground channel sampling at the Providencia target have confirmed high-grade mineralization of copper, cobalt, nickel, and gold, suggesting the exciting potential for further discoveries in this region.

Exciting Results from Providencia Target

In a recent announcement, Pan Global disclosed that channel sampling from the historical Providencia mine workings revealed promising mineralization. Results showed impressive grades, including 4.17% copper (Cu), 2.68% nickel (Ni), 1.28% cobalt (Co), and 0.88 g/t gold (Au) over 5 meters. The strongest sample included even higher concentrations, with peaks reaching 11.0% Cu and 4.47% Ni over a 1-meter interval.

This comprehensive sampling, which covered various intervals across the mine's 1,467m elevation, indicated a sulphide-rich breccia zone with substantial vertical dimensions. The historical context of the Providencia mine, last active in the 1930s, adds to the excitement as it underscores the area's potential. Tim Moody, President and CEO of Pan Global, emphasizes the importance of these new assay results in confirming the high-grade nature of the mineralization previously mined and the substantial potential for expansion.

Geological Map and Mineral Distribution

The geological mapping conducted alongside the sampling has provided crucial insights into the distribution and characteristics of the mineralization within the Cármenes Project. This area comprises a 5,653-hectare territory with multiple mineralization targets that suggest significant potential for additional discoveries.

Continued drilling efforts are directed towards testing the expansion of these high-grade sulphide zones, particularly in the western sections where samples showed peak concentrations. Moreover, new drilling is being undertaken to explore gold potential identified to the east of the mine workings.

The mineralization observed is predominantly associated with hydrothermal breccia, a type of geological formation that often indicates significant mineral deposits. Furthermore, the ongoing exploration at Cármenes has already revealed a large, carbonate-hosted, multi-phase breccia system that extends over a considerable surface area.

Drilling at New Gold Target

Pan Global's strategic focus also includes drilling at a newly identified gold target near the Providencia workings. This area has demonstrated encouraging signs of gold presence, supported by previous soil and trench sampling results, though it had not been drilled historically. Drilling in this region is expected to yield results soon, further enhancing the potential of the Cármenes Project.

The Cármenes Project's context, being part of a promising geologic trend, makes it similar to successful mining operations such as Orvana Minerals' nearby Orovalle mine, thereby increasing the attractiveness for current and future investments.

Future Plans and Developments

As exploration continues, Pan Global Resources plans to intensify its efforts to explore additional targets that display similar geologic features. The commitment to conducting thorough geological mapping and surface sampling will help elucidate the full potential of the Cármenes Project, aiming to maximize resource discovery.

In addition, the company is concurrently advancing operations at its Escacena Project, where ongoing drilling efforts target the La Romana copper-tin-silver deposit. This dual approach highlights Pan Global's proactive strategy in advancing its development pipeline, confirming its position as a key player in the mining sector focused on copper and other critical minerals amidst a growing global need for these resources.

With supply-demand fundamentals strongly favoring copper, alongside a favorable outlook for gold, the projects under Pan Global's portfolio are well-positioned for both immediate and long-term success. The dynamic nature of these exploration endeavors, driven by a technically skilled team, not only holds promise for enhanced production capabilities but also aligns with modern environmental and societal standards for sustainable mining operations.

For more information about Pan Global Resources and its ongoing projects, visit Pan Global Resources.