#Spain #Vancouver #Pan Global #Escacena #Mining Rights

Pan Global Resources Expands Escacena Project by Acquiring New Mineral Rights

The mining landscape in southern Spain has taken a significant turn with Pan Global Resources Inc. announcing the acquisition of three contiguous mineral rights adjacent to its flagship Escacena Project. This strategic move has increased the project's coverage by an impressive 74%, bringing its total area to over 10,000 hectares within the Iberian Pyrite Belt, a region well-known for its potential in copper, tin, and gold mining.

Expansion Details

The three new mineral rights - Flores, Rosario, and Girasoles - cover a total of 4,245 hectares. This area has largely remained unexplored, with historical data from previous explorations revealing strong geophysical targets for the discovery of volcanogenic massive sulfide (VMS) deposits. Tim Moody, the president and CEO of Pan Global, expressed optimism regarding the acquisition, highlighting the uncharted zones rich in geological potential. “This expansion provides us with access to one of the most promising areas for significant VMS deposits and could lead to the discovery of new copper, tin, and gold resources,” he stated.

The new rights are surrounded by major operational players like First Quantum, Grupo México, and Sandfire MATSA, indicating a competitive and resource-rich environment.

Exploration and Development Plans

Currently, drilling activities continue at the La Romana and Bravo targets within the Escacena Project, with exciting prospects for mineral resource estimation expected by late 2025. The initial exploration phase will focus on gravity anomalies identified in the new areas. Pan Global's initial efforts are directed towards verifying these anomalies to assess their mineralization potential effectively.

Historical data from previous explorations conducted by Exxon in the 1980s and Rio Tinto in the 1990s have highlighted numerous mineralization signs in the newly acquired areas, with several gravity anomalies that might indicate the presence of significant mining deposits. Moreover, the potential for copper mineralization near these unexplored targets is particularly noteworthy, given that earlier sampling indicated some mineral presence.

Strategic Focus and Future Goals

With this acquisition, Pan Global is intensifying its ongoing exploration efforts in the region, aiming for an ambitious target of identifying 100 million tons of potentially economic mineral resources. The company is also anticipating further growth with additional applications for exploration permits covering an extra 3,888 hectares.

The Project Escacena, characterized by its extensive mineral-rich lands, demonstrates the company’s robust strategy in the Iberian Pyrite Belt, a prime mining jurisdiction praised for its favorable geological conditions, supportive mining infrastructure, and positive regulatory environment.

Pan Global is committed to operating responsibly while engaging actively in communities, ensuring environmental considerations are at the forefront of its operations. With a talented team dedicated to mineral discovery and development, the company is poised to make significant advancements in its exploration endeavors.

As developments unfold, the mining community and investors will be keenly watching how these rights acquisition and exploration activities unfold, potentially reshaping the region's mining narrative in the coming years.