#Spain #Cármenes Project #León #PAN Global Resources #gold assay results

Pan Global Reports Gold Discovery at Cármenes Project

Pan Global Resources Inc. has made headlines with their latest findings from the Cármenes project located in northern Spain. The company announced substantial gold assay results that could signal a significant opportunity for mineral exploration and extraction.

The initial drilling results have revealed 3.01 grams per tonne (g/t) of gold over an impressive length of 34 meters close to the surface, with some intervals showing even higher grades. Notably, 8.93 g/t of gold was found over a 5-meter section within this interval. This announcement comes on the heels of previous positive drilling results published in May and June of 2025, marking a promising trajectory for the ongoing exploration efforts.

Details of the Findings

The crucial data was collected from two drill holes, PVD05 and PVD06, targeting an area of gold mineralization situated east of the historical Providencia mine site. In the PVD06 hole, the most striking result was the high-grade intercepts below the surface, which included:

• - 34.0 meters at 3.01 g/t Au starting from a depth of 131 meters, featuring:

- 5.0 meters at 8.93 g/t Au
- 2.0 meters at 15.18 g/t Au
- 4.7 meters at 5.65 g/t Au
- 2.0 meters at 7.15 g/t Au

The best single meter only enhances excitement as it showed a remarkable 17.6 g/t Au at a depth of 134 meters. This aligns with the exploration team's expectations, which had previously noted strong anomalies in various sampling conducted in the area.

Implications for Future Exploration

These findings not only contribute positively to the ongoing assessments of the Cármenes project but also pave the way for expanding within the region where lower-grade mineralization had been previously identified. The geology of the area indicates significant potential for high copper, cobalt, and nickel grades in association with the gold, hinting at a broader economic feasibility for mining operations.

The Cármenes project, covering 5,653 hectares, is strategically located approximately 55 kilometers from León and encompasses several historical mining sites that operated during the early 20th century. The company believes the region's unique geological formations could yield substantial results as exploration continues.

In addition to Cármenes, Pan Global is actively engaged at its flagship Escacena project, also in Spain, targeting new discoveries of copper and other precious metals. The resources for this project are expected to be estimated in 2025, marking another significant milestone for the company.

Company's Outlook

Tim Moody, the President and CEO of Pan Global, expressed optimism regarding the recent drilling results, stating: "These new results extend the near-surface breccia gold mineralization to the east of historical mining works and include the highest grade gold intercepted at Providencia to date… This represents an interesting discovery opportunity, including the potential to expand the breccia high-grade copper, cobalt, and nickel.”

As exploration programs advance, the company emphasizes its commitment to sustainable and responsible mining practices, prioritizing the environment and community engagement as they pursue mineral wealth in these promising regions.

For further updates on developments, investors and stakeholders can follow the company’s progress through their official channels. With the continued support for mining initiatives in Spain and the focus on exploration, Pan Global is on a path that could significantly enhance its operational portfolio in the near future.