#Spain #Pan Global #Escacena Project #Canada Honda

Pan Global Resources Begins Phase 2 Drilling at Cañada Honda

Pan Global Resources Inc. has officially launched Phase 2 drilling at the Cañada Honda deposit as part of their ongoing Escacena Project in southern Spain. This initiative signifies a pivotal shift as the project area expands significantly to 16,745 hectares, enhancing exploration opportunities within the Iberian Pyrite Belt, a region known for its rich copper and gold deposits.

Overview of the Escacena Project

The Escacena Project has recently broadened its footprint, with three additional mineral rights applications submitted, totaling 2,853 hectares in the promising Escacena South area. This expansion is timely as the company is also conducting a helicopter electromagnetic and magnetic survey, scheduled to commence in July, aimed at accelerating target prioritization in the vicinity.

President and CEO of Pan Global, Tim Moody, emphasized the substantial growth of the Escacena project, highlighting that it is evolving into a district-scale copper exploration opportunity. "We have identified over 15 priority targets and are fully funded for a comprehensive drilling program spanning 20,000 meters over the next 12 to 18 months," he noted.

Phase 2 Drilling at Cañada Honda

The current drilling program at Cañada Honda is set to execute an initial eight drillholes, extending approximately 2,500 meters. The objective is to explore beyond previous drilling that revealed considerable copper-gold mineralization in only a limited section of the three-kilometer target. Notably, past drilling results showed significant copper and gold concentrations across various locations, such as:

• - 20.0 meters at 0.5% Cu and 0.8 g/t Au
• - 20.0 meters at 1.1 g/t Au
• - 5.6 meters at 1.15% Cu

These results have begun to shape the prospectivity of this area, revealing continuous mineralization extending more than 600 meters down-dip, with plenty of potential depth and lateral expansion possibilities.

Geophysical and Geochemical Surveys Yield New Targets

In conjunction with the ongoing drilling, Pan Global recently concluded extensive geophysical surveys, employing high-resolution SQUID IP and Audio Magnetotelluric methods. These investigations have identified several new drilling targets adjacent to the established gravity anomalies. Areas of high chargeability and low resistance are considered favorable for uncovering additional mineralization, indicating that the broad Cañada Honda corridor may hold further resources yet to be discovered.

Moreover, soil geochemical analyses have pinpointed multiple untested gold anomaly sites, which are associated with existing mineralization patterns. Follow-up exploration efforts are already underway to investigate these promising leads.

Future Outlook for the Escacena Project

As Pan Global advances its drilling efforts, the future appears promising, with crucial next steps already in motion:

• - Continuation of Phase 2 drilling at Cañada Honda
• - Testing newly identified geophysical and geochemical targets
• - Completion of helicopter surveys in Escacena South
• - Progress on necessary permitting for proposed drill testing of other prospective targets

The Escacena Project stands as a flagship venture for Pan Global Resources, strategically positioned in one of Europe’s key mining regions. With supportive geological conditions and an operational framework conducive to mining, the company looks forward to uncovering new mineral resources that could play a vital role in global electrification efforts.

As assay results are released from ongoing drilling every month, industry stakeholders are keenly watching Pan Global's progress at Cañada Honda and the broader Escacena Project, heralding a potentially transformative phase in the company's exploration narrative.

For further updates on this exciting project, stakeholders and interested parties are invited to stay tuned as developments unfold over the coming months.