#Spain #Gold Mining #Pan Global #Cármenes #Cármenes Project

Pan Global Reports an Exciting High-Grade Gold Discovery

In an exciting development for investors and mining enthusiasts alike, Pan Global Resources Inc. has unveiled high-grade gold mineralization at the Cármenes Project located in northern Spain. The latest saw-cut channel sampling has revealed astonishing grades of 20.2 grams per tonne (g/t) gold over a continuous length of 5.0 meters. This sample result is a significant confirmation, indicating that the gold presence in this site extends well beyond what was historically documented.

Overview of Cármenes Project

The Cármenes Project sits along the southeastern extension of the famed Rio Narcea Gold Belt, about 55 kilometers north of León, covering an extensive area of 5,653 hectares. The project is recognized for its rich mining heritage and high prospectivity for ore deposits. Pan Global holds 100% of the investigation permits necessary for exploration in the area. With historical mines like Profunda and Providencia that ceased operations in the 1930s, the potential for finding profitable mineral resources is greater than ever.

Recent findings have also indicated the presence of extensive sulphide and hematite breccia, which suggests that the mineralized system within the Cármenes site is not just extensive but also open at depth. The growth of this system is indicative of a continuously expanding mineral district, as expressed by Tim Moody, the President and CEO of Pan Global.

Recent Developments

The new findings at the Providencia target showcase how systematic twin saw-cut channel sampling has superseded previous chip sample results of 15 g/t gold over 6 meters. One of the most remarkable samples, taken recently, returned a staggering assay of 51.2 g/t gold, alongside platinum and palladium findings. This significant discovery underpins the high-grade potential that the Cármenes Project holds.

Planned expansions to the drilling program will now include eight drill holes, accumulating an estimated total of 1,200 meters. The drill rig is currently targeting potential extensions of the copper-cobalt-nickel sulphide and high-grade gold mineralization. An intensive program consisting of 800 additional saw-cut channel samples is also underway within a newly opened section of the historical mine workings at the 1,438-meter level. This sampling aims to evaluate the connectivity of the mineralized system and refine the structural framework.

Broadening Exploration Strategies

In addition to the ongoing drilling activities, Pan Global is also advancing broader district-scale exploration efforts across the Cármenes area, identifying over 25 high-priority targets. The findings indicate that expansive soil geochemistry might extend the Providencia footprint by as much as 300 meters. Active mapping and systematic geochemical sampling are concentrated around other historical mining sites, as well as targeted areas highlighted by recent geophysical analyses.

Future Prospects

The Cármenes Project's geology is marked by clusters of carbonate-hosted hydrothermal breccia that hold high potential for copper, nickel, cobalt, and gold mineralization. Pan Global Resources is keen on exploring this area more rigorously, citing a favorable permitting environment and robust infrastructure as key advantages.

Given the compelling fundamentals surrounding copper and gold, coupled with strong pricing forecasts, Pan Global looks to strategically position itself within the mining industry. As the company continues to operate under the guidelines of the United Nations Global Compact, its commitment to sustainability and community engagement remains steadfast.

As exploration progresses, both the drill program and underground sampling results will be disclosed in due course. Those interested in the minerals mining sector and investment opportunities will want to keep an eye on Pan Global Resources as they push forward with their exploration endeavors in Cármenes.

For further updates, visit Pan Global Resources.