#Spain #Cármenes Project #PAN Global Resources #gold exploration #Northern Spain

Pan Global's Latest Discoveries at the Cármenes Project

Pan Global Resources Inc., a prominent player in mineral exploration, has released exciting news regarding their Cármenes Project located in Northern Spain. The latest findings from soil and rock samples indicate promising concentrations of gold, copper, and other valuable metals that could significantly impact the mining landscape in the region.

Findings Overview

Recent exploratory activities have led to the discovery of soil samples with assays reporting up to 24.3 grams per tonne (g/t) of gold and 16.2% copper. In addition, the results display other notable metals, including nickel, cobalt, and silver, showcasing the diverse mineral potential of the area.

Tim Moody, President and CEO of Pan Global Resources, expressed optimism about the project's developments. He stated, "The new high-grade copper, gold and other metals results from Cármenes are very encouraging. The initial soil and rock geochemistry results indicate the footprint of the Providencia breccia pipe mineralization is much larger than previously known and shows significant gold potential."

Such confirmations are crucial following a systematic survey that identified a coherent soil geochemistry anomaly area measuring 250 meters by 150 meters, featuring substantial grades in multiple valuable metals.

Exploration Methods and Results

During the survey, 1,089 soil samples were collected within a 1.8km x 1.5km grid utilized to assess the mineral content of the soil. The sampling confirmed strong copper anomalies primarily concentrated in historically mined areas such as Providencia and Profunda. The detailed follow-up soil sampling at Providencia produced outstanding results with 49 samples averaging 5.8 g/t of gold and the highest recorded assays emerging from this segment.

Furthermore, the investigation has led to the identification of numerous mine workings, including previously undocumented tunnels, indicating the possibility of previously untapped mineral resources. The rock samples collected in the region returned assays up to 10.5 g/t gold and 48.1% copper, reinforcing the evidence of mineralization in outcrops.

Strategic Next Steps

With these encouraging findings, Pan Global is gearing up for further exploration and methodology adjustments. The company has plans in place to initiate drilling at the Providencia target within the first few weeks of January 2025. According to their timeline, the drilling aims to further investigate the extent of mineralization beneath existing mine workings with results expected by March. Additionally, better strategized follow-up work at the Profunda target is in development.

Investor Engagement

To keep investors informed, Pan Global will host a webcast on January 30, 2025, to discuss the project's recent developments and outline future drill campaign plans. Tim Moody will lead the session to provide insights into the ongoing work at both Cármenes and their other projects.

About Cármenes Project

The Cármenes Project, covering about 5,653 hectares, lies approximately 55 kilometers north of León. This highly-prospective area is known for clusters of carbonate-hosted 'pipe-like' breccia style mineralization. With historical operations last seen in the 1930s, the project presents a unique opportunity for revitalizing mining activities and tapping into untapped resources. The region's capability to host significant vertical mineral deposits exceeds 1km, marking it as a hotspot for exploration.

Conclusion

As Pan Global continues its efforts in the mining sector, the Cármenes Project stands as a testimony to the potential for significant mineral deposits in Northern Spain. The recent assay results are not only a boon for the company but also highlight the broader opportunity for exploration and development in a region rich with mining history. Investors and stakeholders alike are watching closely as the project unfolds, promising an exciting year ahead.

For more details, visit Pan Global Resources.