#Spain #Pan Global #Escacena #Cármenes #Southern Spain

Pan Global Resources Drives Forward Escacena and Cármenes Projects in Spain for 2024 Program Success

Pan Global Resources Inc., a prominent player in the mining industry, has unveiled significant developments in its ongoing Escacena and Cármenes copper-tin-gold projects located in southern Spain. These advancements are part of the company’s robust strategy for 2024, aimed at capitalizing on the region's rich mineral potential.

Overview of Recent Developments

As of January 10, 2025, Pan Global announced that extensive drilling and exploration efforts have yielded promising results that enhance the feasibility of mining operations in these areas. The Escacena project, recognized for its high-grade deposits, has seen its near-surface mineralization expanded by over 300 meters, underscoring its viability for further investigation.

Tim Moody, President and CEO of Pan Global, emphasized the company's commitment to this lucrative venture, stating, “With support from an exceptional exploration team in Spain, we have achieved solid operational results in 2024.” These results include a successful metallurgical test program that recorded industry-leading copper-tin extraction rates, reinforcing the potential profitability of the deposits.

Key Highlights from the 2024 Program:

1. Drilling Results: The company reported findings from 21 boreholes across three targets within Escacena, effectively extending known mineralization zones and identifying additional geophysical anomalies that may indicate further mineral deposits.
2. Bravo Target Exploration: The completion of surface exploration at the high-priority Bravo target, situated one kilometer east of the La Romana discovery, confirmed strong geological indicators suggesting potential underlying mineralization.
3. Metallurgical Success: Advanced metallurgical variability tests confirmed exceptional copper recovery rates of up to 88% with concentrate grades as high as 32.5%. These results align with positive preliminary economic assessments for the project.
4. Cármenes Project Initiation: In addition to the ongoing work at Escacena, Pan Global has commenced exploration at the Cármenes project in northern Spain, focusing on copper, nickel, cobalt, and gold discoveries.
5. Funding and Investments: The company secured a significant private placement totaling CAD 7.2 million, with robust support from existing investors along with new institutional backing, positioning it favorably for upcoming exploration initiatives.

Looking Ahead

The company is preparing to reinitiate drilling at Escacena with a focus on prioritizing five new targets based on initial explorations and results. These future drilling activities aim to further delineate the extent of the mineral resource potential, especially in areas where previous geophysical anomalies were identified.

The Escacena project covers a substantial land package of 5,760 hectares and is strategically located within the Iberian Pyrite Belt—property known for its economic mineral deposits. Pan Global aims to delineate 100 million tonnes of copper resources, mirroring the achievements of other nearby mining operations in the region.

Meanwhile, the Cármenes project, which comprises exploration permits over 5,653 hectares, has strong historical mining roots, indicating high potential for new mineral discoveries. Initial explorations are already underway to identify and potentially extend existing mineralization trends.

Commitment to Sustainable Mining

Pan Global Resources remains dedicated to conducting its mining practices responsibly, ensuring minimal environmental impact and fostering positive relationships with local communities. The company aligns its operations with sustainable practices and participates actively in initiatives like the United Nations Global Compact, reinforcing its commitment to corporate social responsibility.

Conclusion

The optimism surrounding Pan Global Resources' strategic maneuvers in Spain reflects a promising outlook for mineral exploration and extraction. As they prepare for an intensive 2025 drilling campaign, the mining community watches closely to observe the outcomes of these efforts and their impact on the global copper market.

For further updates and insights into their operations, stakeholders and interested parties can follow Pan Global Resources’ developments through their official website and investor communications.

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For more information, visit Pan Global Resources.