Promising Gold and Copper Discoveries from Cármenes Project in Northern Spain
Pan Global Resources Inc. has announced promising initial results from its Cármenes project, located in northern Spain, where recent soil and rock samples indicate high concentrations of valuable minerals including gold, copper, nickel, and cobalt. The geochemical analysis supports the company’s optimistic outlook on the mineralization potential in the area, with notable results from the Providencia target, demonstrating the project’s significance in the global mining landscape.
The geochemical study resulted in 1,089 soil samples being collected from a defined grid within a 1.8 by 1.5 km area of investigation. The surface samples proved to be especially fruitful, with findings revealing up to 24.3 grams per ton (g/t) of gold and 16.2% copper, alongside other impressive metrics such as 1.3% nickel, 1.1% cobalt, and 48.7 g/t silver.
The geological context indicates the presence of carbonate-hosted, tubular breccia mineralization, a traditional source for copper, nickel, and cobalt ores. Interestingly, the previous mining activities in the earlier 20th century, which ceased around the 1930s, further underlines the historical significance of the region, as it had produced copper and cobalt concentrates with some nickel.
Highlights from the soil sampling included a remarkable 250 x 150 m area showing simultaneous high anomalies in not only gold and copper but also nickel, cobalt, lead, and platinum group metals, indicative of extensive mineralization potential. The average grade of the 49 soil samples collected from this zone showed a solid concentration of 5.8 g/t gold, reinforcing the notion that the mineralization may extend further than the historic mines can account for.
Tim Moody, President, and CEO of Pan Global Resources expressed enthusiasm regarding the results, stating, “The new high-grade results from Cármenes are extremely promising. These findings suggest the Providencia breccia pipes may be much larger than previously thought, with substantial gold potential.” He emphasizes the anticipation of further results from additional sampling and ongoing drilling operations, including the deployment of two drilling machines at the Escacena project.
As Pan Global continues its exploration efforts, specific focus is on validating these high-grade zones through detailed channel sampling and continuing geochemical analysis across different targets in the Cármenes project. The geophysical surveys are expected to help pinpoint new high-priority areas for future exploration near the established targets.
The company aims to drive forward with further investigations aimed at confirming the continuity of these promising findings. With planned drilling activities commencing soon, Pan Global is gearing up for what could potentially be a turning point, redefining mineral extraction prospects not just for the company but also contributing to the wider industry.
For investors and stakeholders interested in the progress of these developments, Pan Global has scheduled a web conference on January 30, 2025, to discuss the findings and future exploration strategies in more detail. This will provide a platform for stakeholders to engage directly with the leadership team and gather insights on the ongoing operations.
Overall, Cármenes represents a strategic asset for Pan Global Resources, and its continued exploration efforts reflect a commitment to uncovering significant mineral deposits vital for modern industrial applications. With the growing demand for these metals, driven by global electrification trends, the Cármenes project stands to play a crucial role in fulfilling these needs while also marking its footprint in the competitive mining field.
The geochemical study resulted in 1,089 soil samples being collected from a defined grid within a 1.8 by 1.5 km area of investigation. The surface samples proved to be especially fruitful, with findings revealing up to 24.3 grams per ton (g/t) of gold and 16.2% copper, alongside other impressive metrics such as 1.3% nickel, 1.1% cobalt, and 48.7 g/t silver.
The geological context indicates the presence of carbonate-hosted, tubular breccia mineralization, a traditional source for copper, nickel, and cobalt ores. Interestingly, the previous mining activities in the earlier 20th century, which ceased around the 1930s, further underlines the historical significance of the region, as it had produced copper and cobalt concentrates with some nickel.
Highlights from the soil sampling included a remarkable 250 x 150 m area showing simultaneous high anomalies in not only gold and copper but also nickel, cobalt, lead, and platinum group metals, indicative of extensive mineralization potential. The average grade of the 49 soil samples collected from this zone showed a solid concentration of 5.8 g/t gold, reinforcing the notion that the mineralization may extend further than the historic mines can account for.
Tim Moody, President, and CEO of Pan Global Resources expressed enthusiasm regarding the results, stating, “The new high-grade results from Cármenes are extremely promising. These findings suggest the Providencia breccia pipes may be much larger than previously thought, with substantial gold potential.” He emphasizes the anticipation of further results from additional sampling and ongoing drilling operations, including the deployment of two drilling machines at the Escacena project.
As Pan Global continues its exploration efforts, specific focus is on validating these high-grade zones through detailed channel sampling and continuing geochemical analysis across different targets in the Cármenes project. The geophysical surveys are expected to help pinpoint new high-priority areas for future exploration near the established targets.
The company aims to drive forward with further investigations aimed at confirming the continuity of these promising findings. With planned drilling activities commencing soon, Pan Global is gearing up for what could potentially be a turning point, redefining mineral extraction prospects not just for the company but also contributing to the wider industry.
For investors and stakeholders interested in the progress of these developments, Pan Global has scheduled a web conference on January 30, 2025, to discuss the findings and future exploration strategies in more detail. This will provide a platform for stakeholders to engage directly with the leadership team and gather insights on the ongoing operations.
Overall, Cármenes represents a strategic asset for Pan Global Resources, and its continued exploration efforts reflect a commitment to uncovering significant mineral deposits vital for modern industrial applications. With the growing demand for these metals, driven by global electrification trends, the Cármenes project stands to play a crucial role in fulfilling these needs while also marking its footprint in the competitive mining field.
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