Pan Global drilling Bravo target at Escacena Project, Spain
Pan Global Resources Inc. [TSXV: PGZ; OTCQX: PGZFF; FRA: 2EU] reported that drilling has begun at the Bravo target at the 100%-owned copper, tin, gold, silver Escacena Project, southern Spain. Bravo is located 1km east and on-trend from the company’s La Romana copper-tin-silver discovery, and 3.5km southwest of Grupo México’s (Minera Los Frailes) Aznalcóllar-Los Frailes mining project. The first phase of drilling is expected to be completed by mid-year.
“The geophysics at Bravo shows many of the signatures associated with the company’s nearby La Romana copper-tin-silver discovery, enhancing the potential for mineralization. Based on its size and location, Bravo is a high-priority target amongst several previously untested targets in this highly prospective area for significant volcanogenic massive sulphide (VMS) associated mineralization. After several months of diligent fieldwork, we are excited that drilling has now commenced,” said Tim Moody, President and CEO.
The recently completed 18.2-line-km IP geophysics survey identified chargeability and resistivity anomalies coincident with the Bravo gravity anomaly. These results indicate potential extensions or repetitions of the geology trend hosting the La Romana mineralization 1km to the west of Bravo. The IP survey results have been integrated with modelling of the company’s detailed gravity, soil geochemistry, and helicopter electromagnetics survey data to prioritize drill targets.
The first phase of drilling at Bravo will include up to eight wide-spaced drillholes to test for VMS mineralization associated with geophysics and geochemistry anomalies. The drilling will also test a very strong IP-chargeability anomaly 500 metres south of the main Bravo gravity anomaly on the interpreted continuation of the La Romana mineralization trend. Results from the first phase drill program will be released as they become available. Subject to results, the current planned 7,000-metre multi-target drill program at the Escacena Project may be expanded.
The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena is located near the operating mine at Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo México is in the final permitting stage to allow new mine construction to commence.
The Escacena Project hosts Pan Global’s La Romana copper-tin-silver and Cañada Honda copper-gold discoveries, and a number of other prospective targets, including, Bravo, Barbacena, La Pantoja, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo. A longer-term goal is to define 100 million tonnes of copper resources from a cluster of deposits in the Project area, comparable to other mine operations in the Iberian Pyrite Belt.
The company is a member, and operates under the principles, of the United Nations Global Compact.