#Spain #Pan Global #Cármenes #León #gold drilling

Introduction to the Cármenes Project

Pan Global Resources Inc. is making significant strides in its exploration efforts at the Cármenes gold project, located approximately 55 km north of León in Northern Spain. Having resumed Phase 2 of its drilling program, the company aims to extend its promising gold mineralization discovered during the initial phase. The focus remains on the Providencia target, where encouraging results from earlier drillings have sparked excitement among stakeholders and investors alike.

Phase 1 Success

During the initial stage, Pan Global conducted six drill holes at the Providencia site, yielding impressive gold grades, including an interception of 1.08 g/t over 46 meters and 3.01 g/t over 34 meters in different drill holes (PVD02 and PVD06, respectively). These findings suggest the presence of a significant gold deposit close to the surface, encouraging the company to commence further drilling to better understand the geometry of the mineralization and explore its extensions.

Objectives of Phase 2 Drilling

The ongoing Phase 2 program consists of four drill holes designed to further investigate the gold-rich breccia at Providencia. According to Tim Moody, CEO of Pan Global, the company is focused on uncovering the geometry of the deposit and examining high-grade copper-nickel-cobalt mineralization. The presence of a strong induced polarization (IP) anomaly suggests that mineralization may extend deeper than previously explored levels, indicating excellent potential for further resource discovery.

Geological Exploration and Findings

Recent geological mapping and geochemical sampling have identified a comprehensive system of hydrothermal breccias that host copper, cobalt, nickel, and gold deposits. The mineralization is distributed across an area of over 300 x 150 meters, with indications that it remains open in various directions. This type of deposit can exhibit substantial vertical dimensions, exceeding 1 km. Additionally, 30 further targets have been identified surrounding Providencia based on electromagnetic, magnetic, and radiometric surveys conducted by helicopter.

The Cármenes Location and Its Historical Significance

Historically, the Cármenes region has a rich mining background. The area comprises five exploration permits covering 5,653 hectares, and includes the former Profunda and Providencia mines, both of which produced copper, cobalt, and nickel concentrates until mining ceased in the 1930s. The project's geological characteristics and previous mining activities highlight its potential for further exploration and discovery of substantial mineral resources.

Future Outlook and Commitment to Exploration

Pan Global Resources is wholeheartedly committed to advancing its exploration initiatives with a focus on responsible, environmentally friendly practices. As the European Commission has deemed copper a strategic raw material, the company’s focus on uncovering copper-rich deposits alongside gold may prove pivotal in aiding the global transition towards electrification. The Cármenes project is strategically positioned in a historically rich mining jurisdiction with excellent infrastructure, increasing the chances of successful exploration and mining operations.

Conclusion

As Pan Global embarks on Phase 2 of its drilling at the Cármenes project, the outlook remains optimistic. With the ongoing assessments and testing of new targets, the company aims to expand its knowledge of the area and possibly uncover additional resources. Investors and stakeholders closely anticipate the upcoming results, as the potential for significant discoveries within this promising mining region continues to attract attention in the resource sector. The journey of Pan Global Resources at Cármenes symbolizes not only the allure of gold but also the strategic importance of diversified mineral resources in today's economy.