High-Grade Gold Intersections Discovered at Pan Global's Cármenes Project in Spain

Pan Global Resource Inc. Reports High-Grade Gold Findings at Cármenes Project

In a remarkable announcement, Pan Global Resources Inc. (TSXV: PGZ, OTCQB: PGZFF, FRA: 2EU) revealed that they have successfully intercepted high-grade gold at their fully-owned Cármenes project located in northern Spain. Recent drill results from the ongoing Phase 2 drilling program point to promising gold concentrations near the surface, which could prove critical in defining the potential of this mining area.

The first significant highlight from the unveiled data includes impressive results such as 3.5 g/t of gold over 8 meters and 1.2 g/t over 10 meters at the recently drilled PVD10 hole. These findings showcase not only the high format of simple native gold identified within hematite breccia but also encourage the exploration of metallurgical potential that might follow suit.

The Cármenes Project is positioned within the Rio Narcea gold belt, approximately 55 kilometers north of León. It consists of five exploration licenses covering 5,653 hectares, indicating a rich history of mining activity. Previous operations in the area, particularly in the Profunda and Providencia mines, produced concentrates of copper, cobalt, and nickel dating back to the 1930s. Yet, the recent discoveries have added a contemporary twist to the potential of this region as exciting new targets have arisen.

Expanded Discovery Areas and Future Steps

Beyond the findings at PVD10, it is crucial to note that the current drilling has revealed polymetallic mineralization, confirming the presence of copper, nickel, cobalt, and gold extending beyond historical mining boundaries. The data points to potential new, untested prospects as over two dozen gold and polymetallic targets have been identified throughout the Cármenes Project area, suggesting that larger mineral systems await further exploration.

According to Tim Moody, the President and CEO of Pan Global, this ongoing drilling campaign continues to bolster the presence of high-grade gold mineralization near the surface at the Providencia target. He emphasizes that the identification of native gold within breccias adds credible support to their metallurgical ambitions.

“Finding mineralization extending beyond historical mine boundaries and at shallow depths provides compelling targets for our upcoming Phase 3 drilling program,” stated Moody, adding that plans are in motion to commence Phase 3 drilling in the first quarter of 2026.

With the current positive findings, hydrothermal breccia mapping and anoxic geochemical studies indicate a larger entity of gold and polymetallic mineralization in the Providencia target area. The geophysical data suggests that mineralization remains open to depth, hinting at further exploration opportunities beneath the surface.

Sampling and Analyses

Sampling on site has provided insightful results. For example, hole PVD09 intercepted a sulfide-rich breccia of over 9 meters, terminating in unexpected historic workings, while hole PVD07 explored intervals showcasing gold and silver enrichments.

The preliminary metallurgical investigation revealed the presence of native gold embedded in the breccia matrix, a strong indicator of favorable metallurgical properties requiring further investigation.

Pan Global’s exploration endeavors echo the values of sustainable mining and corporate responsibility. The company’s commitment to safety, environmental stewardship, and community engagement is reflected in its operations, emphasizing that they work harmoniously with local stakeholders and ecosystems.

In summary, the ongoing exploration efforts by Pan Global Resources at their Cármenes Project herald an exciting new chapter in their quest for high-grade gold and polymetallic minerals within Spain’s renowned gold belt. Continued drilling programs alongside robust studies will ultimately illuminate the potential of this historically rich mining region. Whether the company can sustain its momentum and deliver on these promising results will likely be a developing story eagerly watched by industry investors.