#Spain #Pan Global #Andalusia #Escacena #Canada Honda

Significant Gold Find at Cañada Honda

Pan Global Resources Inc., a significant player in mineral exploration, has announced an exciting discovery at its Cañada Honda target, part of the Escacena project located in southern Spain’s renowned Iberian Pyrite Belt. A recent channel sampling from an historical mining tunnel has confirmed a notable gold mineralization of 1.14 grams per tonne (g/t) over an extensive interval of 26 meters near the surface. This discovery not only bolsters the potential of the Cañada Honda site but also highlights the company's commitment to expanding its resource portfolio in a region famous for its rich deposits.

Highlights of the Discovery

The channel sampling results have indicated:

• - A consistent 1.14 g/t Au over 26 meters with intervals that exhibited even higher concentrations, such as 1.64 g/t Au and 0.16% Cu over 6 meters.
• - Evidence of gold mineralization extending 150 meters upstream and 450 meters downstream from the nearest drill hole, showcasing the expansive nature of the mineral deposit.
• - The presence of volcanogenic massive sulfide (VMS) mineralization alongside gold-bearing veins, which is a promising indication of the area's mining potential.

This discovery comes on the heels of a preliminary drill program conducted in 2024, where 16 drill holes were strategically positioned at the eastern end of Cañada Honda, coinciding with a 3-kilometer-long gravity and electromagnetic anomaly that signals potential for a large-scale deposit.

Future Explorations and Developments

Tim Moody, the President and CEO of Pan Global, expressed optimism about the significance of these findings. He noted, "This continuous interval aligns perfectly with our expectations for a significant gold mineralization starting from the surface at the Cañada Honda discovery. The drilling program conducted during Phase 1 in 2024 targeted the eastern end of a large geophysical anomaly, and the results affirm the larger copper-gold system potential within the Cañada Honda discovery."

As part of its operational strategy, Pan Global plans a Phase 2 exploration drilling program scheduled for 2026, aiming to further investigate the extent of mineralization. Upcoming efforts will include:
1. Increased surface geochemical sampling: This will evaluate the lateral extent of gold mineralization near the surface.
2. Continued geological mapping: Improving structural interpretation to refine drill targets.
3. Potential extension drilling: Targeting further expansion of near-surface mineralization and exploring deeper VMS-type copper-gold mineralization associated with near-surface gravity and electromagnetic anomalies.

The combination of ongoing exploration and positive drill results presents what could be one of the most exciting phases yet for the Escacena project. Moreover, Pan Global has strengthened its portfolio by incorporating additional mineral rights across a combined area of over 13,900 hectares, which further positions them strategically within the Iberian Pyrite Belt.

Context of the Escacena Project

The Escacena project includes significant targets for copper and gold exploration within an area boasting a strong mining history and supportive infrastructure. Pan Global is not just focusing on Cañada Honda; they are also advancing work on their La Romana copper-tin-silver deposit and other prominent targets in nearby regions. The increased landholdings, which now exceed 10,000 hectares after recent land acquisitions in September 2025, enhances their opportunity for discoveries and future growth.

Conclusion

Pan Global Resources is poised for exciting developments as it advances its exploration activities in the Iberian Pyrite Belt. The recent confirmation of gold mineralization at the Cañada Honda provides a strong foundation for future drilling and increased resource assessment. With a dedicated team and a solid operational strategy, the company's future looks promising as they aim to capitalize on the growing demand for metals essential for global electrification and energy transition.