#Spain #GOLD DISCOVERY #Cármenes #Cármenes Project #PAN Global Resources

Pan Global's Promising Gold Discovery at Cármenes Project in Spain

In a recent announcement, Pan Global Resources Inc., a mining company listed on TSXV (PGZ), OTCQB (PGZFF), and FRA (2EU), revealed significant findings from its first drilling exercise at the Cármenes Project in northern Spain. This project is entirely owned by Pan Global and is expected to yield notable mineral resources. The company has reported a substantial intersection of 1.08 g/t gold over 46 meters near the surface, marking an encouraging start to their drilling campaign.

Key Findings from the First Drill

The drilling program at the Cármenes Project currently consists of six drill holes aimed at expanding the known mineralization related to historical mining activities. Among these, the first drill hole (PVD02) proved particularly successful, yielding an impressive 46 meters at an average of 1.08 g/t of gold, including a remarkable 4 meters at an outstanding 6.27 g/t gold from a depth of 24 meters.

Tim Moody, CEO of Pan Global, emphasized the significance of these outcomes, stating, "The initial drilling results at the Providencia target represent an extraordinary start, confirming the presence of previously unknown gold mineralization near the surface across a considerable interval. This discovery extends the known mineralization at this historic mining site, which has previously focused on copper, cobalt, and nickel mining, and suggests further potential for gold in the region."

The Significance of Providencia Target

The focus of the drilling is the historic Providencia mining site, recognized for its extraction of copper, cobalt, and nickel. Interestingly, there has been no previous evidence of gold extraction at this target, suggesting the possibility of significant untapped resources. The mineralization appears associated with extensive breccia formations within dolomitized and altered limestones, which were previously not explored for gold. The current exploration also features targets that show strong geochemical anomalies nearby, indicating the potential for expanded discoveries in future expeditions.

Looking Ahead

The drilling program aims not only to expand existing knowledge of the mineralization but also to explore additional targets identified through soil sampling and geological mapping. Nearby significant targets are yet to be drilled, notably the Profunda target located a kilometer south, which warrants further investigation. As part of this ongoing initiative, results from additional drill holes PVD03 and PVD04 are anticipated within the next three weeks, keeping the momentum alive for further findings at the Cármenes Project.

With this exciting start, Pan Global is strategically positioned within a region with a rich mining history and promising geological formations. The team comprises skilled professionals focused on sustainable practices while maximizing resource extraction, an essential component in today's transition towards greener technologies.

Conclusion

Pan Global Resources’ first drilling efforts at the Cármenes Project have laid a solid foundation for exploration in northern Spain, revealing potential not just for gold but for a spectrum of precious metals. The project underscores the importance of ongoing exploration activities in historically rich mining regions and sets the stage for further groundbreaking discoveries that could reinforce Spain's position in the global mining industry.