#Spain #Andalusia #Escacena Project #PAN Global Resources #Canada Honda

Update on Escacena Project: Pan Global Resources Advances Phase 2 Drilling

Pan Global Resources Inc. has announced an exciting update regarding its Escacena Project, located in the Iberian Pyrite Belt of southern Spain. This strategic mining project has recently seen its area expanded to 16,745 hectares, enhancing its promise for mineral exploration and extraction. The company holds 100% ownership of this area.

Recent Developments

The latest reports indicate that exploration efforts are progressing well. Specifically, drilling operations at the Cañada Honda deposit have entered Phase 2, with ongoing boreholes that are set to reach approximately 2,500 meters. This new drilling phase aims to further explore previously identified copper and gold mineralization in a section of a three-kilometer target area that remains largely untested.

At the same time, numerous new drill targets have been identified along the Cañada Honda corridor, a significant contribution from recent geophysical and geochemical surveys. Notably, the previous drill holes have uncovered substantial copper and gold deposits, including:

• - A notable section yielding 20 meters at 0.5% copper and 0.8 grams per ton gold.
• - An impressive interval of 20 meters graded at 1.1 grams per ton gold.
• - Another section revealing 5.6 meters at 1.15% copper.

Enhancing Exploration Strategy

With the ongoing expansion of the Escacena Project, Pan Global Resources is strategically positioning itself for a robust exploration campaign. A recent electromagnetic and magnetic helicopter survey is scheduled to commence in July, aiming to prioritize drilling targets in the newly acquired Escacena South area, alongside the ongoing efforts in Cañada Honda.

Further, the exploration team has identified additional priority targets in Trinidad and Carmen. The geological features in these areas coincide with previous mining activities and significant gravimetric anomalies, making them prime candidates for future drilling once the necessary permits are obtained.

Future Targets and Expectations

The Escacena Project continues to advance as a promising copper exploration initiative, with an already established portfolio of over 15 targeted drilling sites and a fully-funded drilling program of 20,000 meters laid out for the next 12 to 18 months. CEO Tim Moody noted the valuable potential for additional discoveries as evidence mounts from geophysical and geochemical studies.

The continuation of Phase 2 drilling at Cañada Honda demonstrates the company’s commitment to uncovering further mineralization, particularly as they target deeper geological layers and refine their exploration strategy.

Summary of Next Steps

• - Continuous drilling in Phase 2 at Cañada Honda.
• - Further analysis of new geophysical and geochemical drilling targets.
• - Completion of electromagnetic and magnetic surveys in Escacena South.
• - Progress toward securing permits for exploratory drilling at Trinidad and Carmen.

About Pan Global Resources

Founded with a mission to discover and develop mineral-rich properties, Pan Global Resources is focused on copper and gold exploration in regions with favorable geological settings. The Escacena Project stands out as a cornerstone of their efforts, backed by a strong team and supported by the European Commission's classification of copper as a strategic resource.

For more information on Pan Global Resources and their initiatives, please visit their website at panglobalresources.com.