#Spain #Pan Global #Andalusia #Escacena Project #Canada Honda

Pan Global Resources Begins Phase 2 Drilling at Cañada Honda

Pan Global Resources Inc. (TSXV: PGZ) has announced the commencement of Phase 2 drilling at its fully-owned Cañada Honda deposit within the Escacena project area located in Southern Spain's Iberian Pyrite Belt. This significant phase of exploration is set to further investigate previously identified copper-gold mineralization through newly allocated drill targets identified by recent geophysical and geochemical surveys.

With an expansion of the project area to approximately 16,745 hectares, the Escacena project continues to gain momentum, showcasing a wealth of potential for mining opportunities. Tim Moody, the President and CEO of Pan Global, stated, "Escacena is evolving into a district-scale copper exploration project with an expanded land package, over 15 prioritized drill targets, and a fully funded 20,000-meter drilling program planned for the next 12 to 18 months."

Recent Developments in Exploration

In recent weeks, the company has been strategically increasing its footprint within the Escacena project. New applications for mineral rights covering an additional 2,853 hectares have been filed adjacent to the promising Escacena South area. This move is aimed at expediting target prioritization and supporting the identification of concealed sulfide mineralizations through electromagnetic and magnetic surveying, slated to begin this July.

The Phase 2 drilling program at Cañada Honda will initially comprise eight drill holes that will extend approximately 2,500 meters. The aim is to explore the extension of known copper and gold mineralization, in light of an existing three-kilometer target anomaly that has previously yielded notable results.
- Previous drilling at Cañada Honda revealed substantial copper-gold intersections, including:
- 20 meters at 0.5% Cu and 0.8 g/t Au
- 5.1 meters at 1.3% Cu and 0.5 g/t Au
- 20 meters at 1.1 g/t Au

As drilling progresses, the company aims to confirm the continuity of mineralization from the surface to greater depths, potentially reaching down at least 600 meters. As such, ongoing assays will provide crucial insights into the scale and viability of the resource.

Advanced Geophysical and Geochemical Assessments

The advancement of the exploration program has revealed multiple new drill targets based on high-resolution SQUID-IP and audio-magnetotelluric (AMT) surveys conducted in the Cañada Honda area. These new targets lie close to modelled gravity anomalies and show promise for new mineralization. The integration of data from these advanced surveys will help delineate areas with the highest potential for copper and gold deposits, refining the drilling strategy.

Additionally, further geochemical studies have uncovered new gold anomalies linked with known mineralization across the Cañada Honda and El Pozo trends, highlighting the opportunities for future exploration.

Future Steps

• - Continue Phase 2 drilling at Cañada Honda
• - Further investigation of newly identified geophysical and geochemical target areas
• - Complete electromagnetic and magnetic surveys at Escacena South
• - Progress towards permitting milestones for drilling at Trinidad and Carmen targets
• - Ongoing assessment of additional priority targets across the expanded Escacena project area

The Escacena project, benefiting from a favorable regulatory environment, top-tier infrastructure, and significant mining expertise, is poised to maximize copper exploration efforts in this strategic region. Positioned in proximity to historic mining operations, the presence of significant copper and other mineral resources underlines the project's vast potential.

As Pan Global moves forward, its commitment to sustainable practices and respect for local communities remains a cornerstone of its operations. To discover more about Pan Global Resources and its latest initiatives, please visit their official website.