#Spain #Pan Global #GOLD DISCOVERY #Cármenes

Pan Global's Remarkable Gold Discovery in Spain

Pan Global Resources Inc. recently announced a significant gold discovery at its wholly-owned Cármenes project located in northern Spain. The company reported results from its initial drilling program at the Providencia target, revealing high-grade gold mineralization just below the surface. This achievement has caught the attention of investors and industry analysts alike due to the promising potential for further discoveries in the region.

Drilling Results Overview

The drilling results from two completed holes, PVD05 and PVD06, highlighted impressive grades that demonstrate the potential of the project. Specifically, drill hole PVD06 returned a striking interval of 34.0 meters at 3.01 g/t gold, starting from 131 meters. This hole also contained even higher grades, including 5.0 meters at 8.93 g/t gold and 2.0 meters at 15.18 g/t gold. Meanwhile, drill hole PVD05 did intersect dolomite breccias but did not yield significant gold results. These results suggest a richer mineralization pattern at Providencia, expanding the potential for new gold deposits.

The findings from drill hole PVD06 notably extended the gold mineralization zone approximately 70 meters east of hole PVD02, which had recorded 46 meters at 1.08 g/t Au, indicating that the high-grade zone remains open in multiple directions. The discovery of surface-level gold mineralization is particularly exciting as it adds validity to earlier surface sampling results, which recorded high gold grades.

Geological Insights

The geological context of these findings indicates that the gold mineralization at the Cármenes project is primarily hosted in a highly altered brecciated carbonate rock, rich in hematite and disseminated sulfides. The project site includes remnants of former mining operations that suggest a robust history of mineral wealth in the area, including historical production of copper and cobalt. The successful identification of gold zones near historical mines signifies significant exploration potential.

Future Exploration Plans

As part of their ongoing commitment to uncover more of the area's hidden resources, Pan Global has plans to continue drilling in the Escacena project, which is another significant site located in the Iberian Pyrite Belt in southern Spain. Furthermore, they plan to resume drilling soon in the Bravo target area, which has also been promising based on preliminary reviews of geophysical data.

Tim Moody, President and CEO of Pan Global, expressed enthusiasm about the drilling results, stating, "These new findings extend the surface breccia gold mineralization east of the historical mine sites and include the highest-grade gold section we've identified so far. The potential here is substantial, and we are encouraged by these early results."

Conclusion

Pan Global Resources Inc. is clearly setting a strong agenda for exploration at the Cármenes project, with exciting new data underpinning their strategy moving forward. Their innovative application of geological models for identifying higher-grade mineralizations, combined with an extensive exploration strategy, positions them well to potentially unearth significant mineral wealth in the upcoming phases of their project.

With the backing of a skilled team and a historically rich mining area, Pan Global appears poised for continued success in the exploration of copper, gold, and other valuable metals in Spain.

For more details about the Cármenes project and Pan Global Resources, visit their official website or follow their press releases for the latest updates.