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Pan Global Resources Announces Significant Gold Discovery at Cármenes Project, Spain

Pan Global Resources Inc. has recently reported impressive surface sampling results from its Cármenes Project located in northern Spain. The latest findings from the Providencia target indicate a remarkable 29.8 grams per tonne (g/t) gold over a drill length of 3.0 meters, demonstrating the exceptional quality of the mineralization found in the area. This outcome is part of a broader continuous interval that showcases a grade of 15.0 g/t over an additional 3.0 meters, which includes a peak assay value of 43.8 g/t gold over 1.0 meter.

Key Findings

The follow-up drilling program, recently initiated, consists of 1,000 meters spread across seven drill holes. This new drilling effort aims to explore the continuity and extent of the high-grade gold mineralization revealed in the area. Tim Moody, President and CEO of Pan Global, emphasized that the surface findings directly shaped the design of the current drill program, aiming to assess the continuity and extent of the gold mineralization both along the strike and at depth.

The surface sampling targeted areas near a recently exposed underground tunnel, where channel sampling has identified breccia-hosted sulphide mineralization approximately 30 meters below previous sampling levels. This aspect of the program is crucial for understanding the structural model of the mineralized system and evaluating its continuity.

Significance of the Findings

The extraordinary grades reported at Providencia bring renewed attention to the project, reflecting the potential for significant gold resources in the Cármenes region. The area is known for multiple historical mine workings, and the latest surface sampling results provide strong evidence for rich mineralization just beneath the surface. In addition to impressive gold findings, the assays also indicated coherent levels of platinum and palladium, further reinforcing the high-grade potential of the site.

Earlier drilling efforts in 2025 had already indicated the presence of a promising gold discovery, leading to this extensive follow-up program aimed at validating and expanding upon these initial results. The ongoing surface and underground evaluations are expected to articulate a clearer picture of the gold potential at Cármenes, making it a priority area for the company.

Project Overview

The Cármenes Project covers approximately 5,653 hectares and is located on the Rio Narcea Gold Belt, roughly 55 kilometers north of León. It consists of five Investigation Permits, all 100% owned by Pan Global. Historical data highlights the presence of viable mineralization types in the area, including copper, nickel, cobalt, and more recently, gold, marking the region as a highly prospective mining site. The two former Profunda and Providencia mines, last in operation during the 1930s, focus attention on the potential for similar breccia-style mineralization still to be discovered.

The Road Ahead

With over 20 new geochemical and geophysical targets identified in the broader Cármenes area, Pan Global Resources is set to continue its ambitious exploration activities. The findings not only suggest a vibrant gold potential but also open avenues for copper and other valuable minerals critical for modern industries. As the company's experimental drilling continues, results from this follow-up program and additional underground sampling will become available, potentially reshaping the region's mining landscape.

The commitment to advancing the Cármenes Project underscores Pan Global's position as a sustainable player in the resource extraction industry, prioritizing not only economic gains but also environmental stewardship and community engagement.

As exploration efforts progress, Pan Global Resources seeks to establish itself within the growing demand for critical minerals needed to drive global electrification and a sustainable energy transition, especially as the demand for copper rises due to its necessity in green technologies.

For further details, keep an eye on updates from Pan Global Resources as they continue to explore and develop the promising potential of their Cármenes Project, contributing to a more sustainable and economically beneficial future for the community and investors alike.