Pan Global Resources Identifies High-Priority VMS Target in Escacena South Region

Pan Global Resources Identifies a High-Priority VMS Target in Escacena South

Pan Global Resources Inc., trading under TSXV: PGZ, OTCQB: PGZFF and FRA: 2EU, has made a significant announcement regarding its operations in southern Spain. The company has identified a new high-priority target for volcanic massive sulfides (VMS) within the recently awarded Escacena South area. This marks an exciting chapter in their exploration efforts as the mining rights have now expanded to over 10,000 hectares.

Expansion of Mining Rights

The announcement comes as Pan Global continues to build on its discoveries in the region. The expansion covers various historical mining sites, particularly the Trinidad and Carmen mines, which have a lineage of copper production dating back to the 1940s. The company's CEO, Tim Moody, highlighted that the combination of historical exploration data and preliminary field inspections bolsters their confidence in the mineral potential in this area, marked by significant gravity and magnetic anomalies yet to be fully examined.

Findings Supporting VMS Potential

Field observations have confirmed the presence of surface copper mineralization stretching over a kilometer, aligning with a major gravity anomaly that corresponds with historical mining activities. Tim Moody emphasized that the markers indicating a robust VMS mineralization potential include evidence of historical mining, positive surface geochemistry, and large untested gravitational and magnetic anomalies.

Here are some notable points about the Escacena South project:

1. Confirmed Surface Mineralization: Preliminary inspections revealed semi-massive sulfides and copper mineralization in the historical mine dumps. This mineralization runs along an east-west line of about 1 km length.
2. Undocumented Gravity Anomaly: A review of past geophysical datasets has indicated a considerable gravity and magnetic anomaly extending 3.5 km south from historical mining sites. This highlights potentials for further exploration. The areas where anomalies are strongest cover about 1.5 km x 1 km and are situated beneath shallow cover, indicating untouched mineral resources.
3. Historical High Grades: Past rock sample analyses from the historical Trinidad and Carmen mines revealed impressive grades, including up to 6.3% copper, 2.45% tin, and 48.6 g/t silver, suggesting a rich resource base.

Future Exploration Plans

The resources at Escacena South offer a fertile ground for future drilling and exploration. Pan Global is prioritizing the Trinidad and Carmen zone and is taking steps to move towards drilling as soon as all necessary permits are secured. Additionally, the company is reviewing other promising targets within Escacena South that could lead to further discoveries.

As part of ongoing efforts, drilling continues at the Bravo target of the Escacena Project, while a phase two drilling program has commenced at the Providencia gold and nickel-cobalt target located near Cármenes, northern Spain. Results from these ongoing drilling efforts are anticipated in the near future, adding to the overall excitement around Pan Global's ventures.

Overview of Project Escacena

The Project Escacena and its recently expanded Escacena South area encapsulate a contiguous land package entirely controlled by Pan Global. With mineral rights recently augmented from 5,760 to over 10,000 hectares, along with four additional applications for exploration permits covering another 3,888 hectares, the company aims to solidify its presence in the Iberian Pyrite Belt.

Adjacent to operating mines like Riotinto and close to the previous mining sites of Aznalcóllar and Los Frailes, the Escacena project positions Pan Global favorably within a reputable mining district, ripe for further discoveries.

Pan Global Resources is committed to advancing mineral explorations while adhering to sustainable and environmentally responsible practices, committed to supporting local communities and regulatory guidelines. The exploration team consists of seasoned professionals dedicated to safe mining operations, contributing to a promising future in mineral discovery.