Pan Global Resources Discovers Gold Deposits in Spain with 1.08 g/t Gold Over 46 Meters

Pan Global Resources Highlights Gold Discovery in Spain



Pan Global Resources Inc. has recently made significant strides in its exploration efforts with a promising discovery of gold at the Cármenes project located in northern Spain. This news follows the company's initial drilling campaign, where one of the drill holes, designated as PVD02, intersected a remarkable 46 meters at an average grade of 1.08 g/t gold, starting from a depth of 24 meters below the surface. Furthermore, this drilling session has revealed a noteworthy high-grade section of 6.27 g/t gold over 4 meters within the broader interval.

Overview of the Project


Cármenes is an entirely owned project covering over 5,653 hectares, situated approximately 55 kilometers north of León. This area is renowned for its historical mining activities that predominantly focused on copper and cobalt. The mine workings at Providencia, which ceased operations in the early 1930s, exploited high-grade ores, suggesting that the current geological setting may hold untapped riches, particularly regarding gold.

The recent findings at Cármenes serve as a validation of the potential lying within the unexplored segments of this extensive project area. Notably, the results indicate substantial surface mineralization, underscoring the likelihood of additional discoveries in proximity to the historical mining sites.

Implications of the Drilling Results


According to Tim Moody, President and CEO of Pan Global, these initial results not only signify a successful start for the drilling program but also confirm the presence of a newly identified gold zone at Providencia. The high-grade gold results found in drill hole PVD02 have hinted at a broader mineralized halo around the historical copper-nickel operations. This could lead to exciting new opportunities for development in the area.

The accompanying data from surface sampling and geochemical analyses have outlined multiple targets within the vicinity of Providencia, including the largely unexplored Profunda target located just one kilometer to the south. Such prospects further highlight the remarkable potential for further gold discoveries within the Cármenes project.

Additional Findings and Future Prospects


The current drilling program, which consists of six holes, marks Pan Global's first exploration campaign at Cármenes and signifies a notable step in confirming the geological potential of the region. Alongside PVD02, results from two other holes, PVD03 and PVD04, are eagerly awaited, with expectations that these will also intersect significant mineralization based on preliminary analyses.

The historical workings of Providencia demonstrate extensive occurrences of copper and cobalt ores that were previously extracted to depths of up to 110 meters, and the company believes that the gold mineralization could be an overlooked aspect of the geographical wealth of Cármenes.

Furthermore, there are plans for follow-up drilling that will explore additional targets further east of the mine workings, as earlier sampling in this area indicated promising high-grade anomalies, including notable grades of 3.11 g/t gold over 37 meters.

Initiative and Responsibility


Pan Global Resources remains committed to a responsible exploration approach, adhering to high environmental and social governance principles as they work to expand mining activities without compromising local ecosystems or communities. The team, composed of seasoned professionals with proven expertise in mining and exploration, emphasizes sustainable practices as vital to their operations.

This exploration initiative is underscored by a larger trend in the growing demand for precious metals driven by technological advancements and sustainability efforts globally. Given the backdrop of record gold prices, the company is positioned to make impactful contributions to the mining sector while pursuing responsible mining practices

Conclusion


The current findings at the Cármenes project mark an exciting chapter for Pan Global Resources in the thriving mining landscape of Spain. With significant drilling results that reveal extensive gold mineralization, the company's future endeavors may lead to great advances in unlocking the untapped potential of the region while contributing to the emerging demands related to sustainable metal production.

Topics Energy)

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