#Spain #N/A #Gold Mining #Pan Global #Cármenes Project

Pan Global Resources Hits High-Grade Gold Near Surface in the Cármenes Project, Spain

Introduction
Pan Global Resources Inc. has announced promising results from its Phase 2 drill program at its wholly-owned Cármenes Project in Northern Spain. The recent exploration has unveiled near-surface high-grade gold intersections that hold immense potential for future mining activities.

Gold Findings and Geological Significance
In particular, drill hole PVD10 reported incredible intersections including 3.5 g/t of gold over 8 meters and 1.2 g/t of gold over 10 meters. The presence of free native gold found within hematite breccia signals a favorable metallurgy that is likely to attract attention from investors and stakeholders.

Tim Moody, President and CEO of Pan Global, expressed excitement over these results, stating, “Our drilling continues to confirm high-grade gold mineralization near surface, closely associated with hematitic breccia zones at the Providencia target area. The discovery of free native gold within breccia underscores the potential for favorable metallurgical properties.”

Extendable Opportunities Beyond Historical Mining Areas
One compelling aspect of these findings is that they confirm the extension of copper-nickel-cobalt-gold mineralization beyond the boundaries of historical mining sites. The data indicates multiple gold zones located at shallow depths, providing linear continuity that remains open along strike and at depth. This opens the door for further drilling phases that will refine our understanding of the system’s extent and evaluate over two dozen other drill targets identified within the Cármenes Project.

Geophysical and Geochemical Insights
Furthermore, hydrothermal breccias and soil sample anomalies onsite suggest that a much larger gold and polymetallic mineral system possibly exists within the Providencia target area. Combined with geophysical data indicating open mineralization below historical mine workings, the Cármenes Project illustrates significant potential for resource expansion.

The gold mineralization in the Providencia area predominantly resides in red hematitic hydrothermal breccias developed within carbonate rock. Lesser gold values correlate with copper-nickel-cobalt mineralization. Preliminary petrographic analyses have verified the presence of free native gold contained within the breccia matrix, acting as a powerful indicator of favorable metallurgical attributes that will undergo further testing.

Upcoming Drilling Phase
As Pan Global moves forward, the Phase 3 drill program is slated to commence in the first quarter of 2026. The company is eager to further assess and define these high-grade gold zones and their associated mineralizations. Each reported drill interval is representative of hole lengths, with no sufficient drilling conducted yet to ascertain the true thickness of the mineralization zones.

Summary of Notable Drill Results
Highlights from the completed drill holes PVD07 to PVD10 include several noteworthy results:

• - PVD10

- 1.2 g/t Au over 10 m starting from 16 m depth (60 m east of historical mine)
- 3.5 g/t Au over 8 m starting from 77 m depth, including 5.8 g/t Au over 4 m

• - PVD07

- A mineralized interval of approximately 5 meters starting from 115 meters, supported by elevated gold and silver values

• - PVD09

- Encountered 9 meters of sulfidic-rich breccia, ending with significant copper and nickel values

Conclusion
The Cármenes Project, located in the renowned Rio Narcea gold belt, spans an impressive 5,653 hectares and is poised for additional exploration. Its promising landscape houses historic mines and is characterized by clusters of carbonate-hosted mineralization involving copper, nickel, cobalt, and gold. Pan Global aims to uncover the potential of this district and its contribution to broader mining strategies across Spain. For more information, a comprehensive look at Pan Global Resources and ongoing developments in their exploration activities can be found on their official website.

As the mining landscape evolves, Pan Global Resources continues to demonstrate its commitment to sustainable practices and community respect while advancing exploration initiatives, reinforcing its value in a growing market for copper and gold.