#Spain #Pan Global #Cármenes #Cármenes Project #gold assays

Pan Global Intersects Significant Gold Mineralization at Cármenes Project

Pan Global Resources Inc. has announced remarkable findings from its drill program at the Cármenes Project situated in northern Spain. The company, listed on TSXV under PGZ, OTCQB as PGZFF, and in Frankfurt as 2EU, has revealed the results of two drillholes, PVD05 and PVD06, which targeted breccia-hosted gold mineralization near the historical Providencia mine workings.

The standout result from hole PVD06 is a significant intercept of 34.0 meters grading 3.01 grams per tonne (g/t) gold, including a striking 5.0 meters at 8.93 g/t gold. These results, which are the first from a targeted area exhibiting strong anomalous gold mineralization, offer a glimpse into the potential of the Cármenes Project. The assay also included high-grade readings of 15.18 g/t gold over 2 meters, showcasing the promising nature of this newly explored zone.

The drill site is located east of the historical mine workings, an area known for its anomalous gold-in-soil samples and previous channel sampling results that averaged 3.11 g/t gold over 37 meters. This recent drilling marks a pivotal moment for Pan Global as it attempts to expand high-grade copper, cobalt, and nickel sulphide breccia while developing the newly discovered gold zone. As emphasized by Tim Moody, the President and CEO of Pan Global, these drill results reinforce the breccia alteration zonation model and highlight the vast potential for discovering additional mineralization across the Cármenes Project.

Insights from the Drilling Results

The majority of gold mineralization is localized within red haematitic hydrothermal-altered brecciated carbonate rocks, often associated with disseminated sulfides. Notably, the gold zone has been extended roughly 70 meters eastward from the earlier drill hole, PVD02, which reported 46 meters at 1.08 g/t gold. The results from drill hole PVD05, however, did not yield significant findings but confirmed aspects of the breccia model.

The Cármenes Project is particularly intriguing due to its geographic location, being approximately 55 kilometers north of León. It encompasses five investigation permits covering 5,653 hectares and is recognized as highly prospective for several types of mineralization, including carbonate-hosted copper, nickel, cobalt, and gold, in clusters resembling pipe-like structures.

Looking Ahead

Meanwhile, at the Escacena Project, which is another significant undertaking for Pan Global, drilling continues to target the expansion of the La Romana copper-tin-silver deposit. Recent activities have indicated potential for discovering volcanogenic massive sulphide (VMS) mineralization. The maiden Mineral Resource Estimate for La Romana is scheduled to initiate in September 2025, furthering the company's prospects in the region.

Pan Global's strategic approach is designed to leverage promising market conditions for copper and gold, essential commodities for the global transition towards electrification and renewable energy. With robust fundamentals driving demand for copper and a favorable outlook for gold prices, the company's ventures in Spain are positioned to capitalize on these trends.

As exploration efforts intensify and new drill results are awaited from various targets, including the Bravo target, Pan Global Resources is well on its way to establishing itself as a key player in the mining sector within Europe's promising Iberian Pyrite Belt.

The combination of high-grade findings, extensive historical mining backgrounds, and the strategic mindset of Pan Global makes the Cármenes Project and surrounding areas essential focal points in the near future for investors and industry experts alike.