#Spain #Pan Global #GOLD DISCOVERY #Cármenes

Major Gold Discovery at Cármenes Project

In a recent press release, Pan Global Resources Inc. announced a remarkable finding of high-grade gold mineralization at its Cármenes project, situated in the southeastern extension of the Rio Narcea gold belt in Northern Spain. The results revealed an impressive concentration of 20.2 grams per ton (g/t) of gold over a 5-meter interval. This significant discovery reinforces previous findings that suggested an expansion of mineralized systems well beyond the historical mining operations at Providencia.

Exploration and Sampling Details

The sampling conducted involved detailed twin saw-cut channel sampling, and the results have confirmed the high-grade gold readings, surpassing historical benchmarks. The ongoing underground mapping of historical mine workings has illustrated a notable widening of the mineralized system at depth in the Providencia target area. Initial reports also indicate that several ongoing underground and surface sampling campaigns are expanding, with plans to drill up to eight boreholes to explore these extensive mineralized systems further.

Expansion of Drill Program

In light of the latest high-grade results, the company has extended its drilling program to include eight boreholes, amounting to an estimated total of 1,200 meters. This drilling aims to assess potential extensions and structural controls of copper, cobalt, nickel-sulfide, and high-grade gold mineralization. Currently, there is a detailed program involving 800 saw-cut channel samples in a newly exposed underground drift at a depth of 1,438 meters, which will assess the continuity of the mineralized system and refine the structural model.

Site Overview and Future Potential

The Cármenes project encompasses five exploration licenses spanning over 5,653 hectares, entirely held by Pan Global. This region, approximately 55 km north of León, is considered highly prospective for several bodies of hydrothermal breccia mineralization containing copper, nickel, cobalt, and gold. Historical operations in the area, such as those at Profunda and Providencia, indicate significant mining potential, with records of copper and cobalt concentrates being produced as far back as the 1930s. The region also contains numerous smaller historical workings that highlight the potential for additional breccia mineralization.

Commitment to Sustainable Practices

Pan Global Resources is not only focused on profitable mineral extraction but is also committed to sustainable operations. The company adheres to environmentally responsible practices and is a participant in the United Nations Global Compact, underscoring its dedication to sustainable mining and community respect. The unique convergence of favorable permitting dynamics, robust infrastructure, and expert mining talent in the Iberian region makes it an attractive location for mining investment.

Conclusion

As Pan Global Resources continues its exploration and evaluation of the Cármenes project, expectations are high for ongoing discoveries that could significantly impact the mining landscape in Northern Spain. With evidence of extensive gold and copper mineralization, the company is poised to advance its operations and further explore the region's rich geological potential.