#Spain #Pan Global #Escacena Project #Cármenes Project #Seville

Pan Global Resources Advances Escacena and Cármenes Projects

Pan Global Resources Inc. recently made headlines with significant advancements in its flagship projects—the Escacena and Cármenes projects—in Spain, as part of their successful 2024 exploration program. The company, listed on TSXV as PGZ and OTCQX as PGZFF, reported several notable achievements that promise strong growth in their mineral exploration endeavors.

Significant Discoveries at Escacena Project

The Escacena Project, situated in southern Spain and covering an impressive area of 5,760 hectares, has shown increased copper-tin-gold mineralization during 2024. One of the highlights includes the extension of near-surface mineralization at La Romana by over 300 meters, enhancing the overall strike length to 1.5 kilometers. According to Pan Global's President and CEO Tim Moody, these results underscore the potential for further resource expansion.

Additionally, the copper metallurgy variability tests for La Romana confirmed excellent recovery rates of up to 88% with concentrate grades reaching 32.5%. This establishes La Romana as one of the top-performing projects in the Iberian Pyrite Belt’s mining sector.

In concert with these achievements, the company has successfully completed advanced metallurgical tests for tin, yielding high-grade results of 63.2% at recovery rates of 64%, further solidifying the mineral richness of the area. Notably, surface exploration has identified over 15 geophysical and geochemical anomalies within the Escacena Project that have yet to be drilled, indicating abundant opportunities for future discoveries at the site.

Developments at Cármenes Project

Located 55 kilometers north of León, the Cármenes Project encompasses five investigation permits totaling 5,653 hectares. It has already attracted attention due to the historical copper, cobalt, and nickel resources mined intermittently from 1860 to the 1930s. Pan Global has commenced exploration here with significant findings related to copper-nickel-cobalt-gold hosted within breccia styles, indicating the potential for new discoveries.

While the immediate focus is on drilling slated to begin this month, the exploration aims to expand understanding of existing mineralization beneath and adjacent to previously worked mines. Based on initial findings, the potential for new breccias in the Cármenes area appears promising, suggesting a rich mining landscape ahead.

Financial Outlook and Future Plans

Pan Global Resources also augmented its financial clout through a C$7.2 million non-brokered private placement funding in November, securing increased investments from existing stakeholders along with two prominent newcomers. This funding is expected to fuel their aggressive drill campaigns as they seek to capitalize on the ongoing geological analysis and surface exploration in both projects.

Preparing for an ambitious 2025 exploration agenda, the company is poised to initiate drilling at prioritized targets in the Escacena Project, accompanied by updates on their findings shortly. Overall, the significant growth in mineralization, coupled with promising metallurgical data, suggests a fruitful year ahead for Pan Global Resources as they continue to explore new frontiers in Spain’s mining industry.

Conclusion

With a committed exploration team and a robust strategy, Pan Global Resources is well-positioned in the Iberian Pyrite Belt, aiming to unravel multiple mineral deposits. Their 2024 achievements at the Escacena and Cármenes projects lay a solid foundation for future success, indicating a hopeful prospect not only for the company but also for the broader resource sector in Spain.