Pan Global Resources Reports High-Grade Gold Intercepts at Cármenes Project in Spain

Pan Global Resources Unveils Gold Potential at Cármenes Project

In an exciting development for investors and mining enthusiasts alike, Pan Global Resources Inc. has reported substantial high-grade gold intercepts from its Cármenes Project in northern Spain. This promising news comes as part of the ongoing Phase 2 drill program, which has revealed significant mineralization potential at the Providencia target.

The most striking results from this drill program include an impressive grade of 3.5 grams per ton (g/t) of gold over a span of 8 meters. Additionally, another intercept showed 1.2 g/t over 10 meters, pulling enthusiasts' attention to drillhole PVD10, which is located near historical mining operations.

“Drilling is confirming the presence of near-surface high-grade gold mineralization, strongly correlated with hematite breccia zones at the Providencia target,” Tim Moody, President and CEO of Pan Global, stated. He further highlighted the capability for favorable metallurgy due to the identification of free native gold present within the breccia, bolstering the potential for more extensive future campaigns.

The Cármenes Project, occupying over 5,600 hectares, is recognized for its rich geological features and is part of the Rio Narcea Gold Belt, approximately 55 kilometers north of León. The area has a historical penchant for copper, cobalt, and nickel mining dating back to the 1930s, but recent findings could suggest a resurgence of interest in gold and polymetallic resources.

Drilling has uncovered not just gold but also confirmed the existence of copper, nickel, and cobalt mineralization that extends beyond previous mining operations. This presents a compelling business case as Pan Global identifies over two dozen untested targets awaiting exploration under its Phase 3 drill program, set to commence in the first quarter of 2026.

Geo-scientific analyses have mapped hydrothermal breccia and observed abnormal geochemical signatures in soil samples, indicating that the geological system might be much larger than initially anticipated. These signals, coupled with the ongoing drilling efforts, are pivotal in delineating the overall scale of the gold-bearing and polymetallic mineralization across the project.

Furthermore, the mineralization remains open along strike and tapers off at depth under the historical workings. This openness indicates promising exploration upside, as the full extent of the mineral system is yet to be defined.

While drillhole PVD10 has revealed multiple promising gold intervals at shallow depths, other drillholes such as PVD07 and PVD09 have also shown notable results, including an intersection of sulfide-rich breccia and elevated copper and silver assays, further emphasizing the rich mineral diversity of the region.

“All reported drill intervals are down-hole lengths; hence, true widths remain undetermined due to insufficient completed drilling,” stated a representative from Pan Global.

As the mining company prepares to ramp up its exploration efforts, it hopes that continued drilling will not only confirm current findings but possibly unearth more valuable resources in what is already indicated as a mineral-rich area. The ambition of Pan Global is to establish a robust mining operation that aligns with environmental sustainability and local community engagements, as it has pledged to explore responsibly while contributing positively to regional economic growth.

Keep an eye on Pan Global Resources as they continue to reveal findings that promise to reshape the mining landscape in Spain, with the Cármenes Project leading the charge for upcoming explorations and discoveries in the precious metals sector.