Pan Global drills 10 metres of 2.5% CuEq at Escacena, Spain
Pan Global Resources Inc. [PGZ-TSX-V; PGNRF-OTC] reported new drill results and expanded the La Romana mineralized target area at the Escacena project in the Iberian pyrite belt in southern Spain. Exploration is also in progress on the adjoining Al Andaluz permit area within the Escacena project, where drilling has commenced at the La Jarosa target.
Tim Moody, Pan Global president and CEO, stated: “The latest results further confirm that high-grade copper mineralization continues near to surface at La Romana, with recent drilling returning more than 2% copper over 10.1 metres from less than 10 metre below surface. The new drill results also extend the copper and tin mineralization to the west and show that the mineralization is wide open in several directions. It should also be noted that further results are also awaited for more than 20 drill holes.”
Moody added: “These latest results are very encouraging and continue to expand the near surface high-grade copper/tin target at La Romana, the first of several gravity targets on the Escacena Project. Following the recent grant of the Al Andaluz permit we have rapidly mobilized a drill rig and are excited to have commenced drilling the first hole at the La Jarosa copper target, some 4 km from La Romana. An extensive exploration program is also now in progress, including gravity and surface geochemistry surveys, and a high-resolution airborne electromagnetic survey due to begin within the next two-weeks. Once data is available from this work the company plans to commence a substantial follow up drill program throughout 2022.”
Highlights include 10 metres at 2.5% CuEq (2.02% Cu, 0.09% Sn, 9.2g/t silver) from 10.9 metres in hole LRD90, including 5.35 metres at 4.2% CuEq (3.49% Cu, 0.14% Sn, 15.2 g/t silver). Hole LRD83 returned 30.2 metres at 0.8% CuEq (0.42% Cu, 0.09% Sn, 3 g/t silver) from 122.3 metres, including 9 metres at 1.01% CuEq (0.51% Cu, 0.12% Sn, 3.7 g/t silver) and 1.05 metres at 1.9% Cu, 0.3% Sn, 23.9 g/t silver, 0.16 g/t gold, 1% Pb, 1.5% Zn.
Hole LRD98 returned 17 metres at 0.8% CuEq (0.74% Cu, 0.011% Sn, 1.9 g/t silver) from 107 metres, including 6 metres at 1.8% CuEq (1.62% Cu, 0.023% Sn, 4.2 g/t silver). Hole LRD99 returned 11 metres at 0.7% CuEq (0.61% Cu, 0.01% Sn, 1.6 g/t silver) from 107 metres, including 4 metres at 1.3% CuEq (1.17% Cu, 0.02% Sn, 2.8 g/t silver) 0.3 m at 12% CuEq (0.48% Cu, 2.96% Sn, 2.5 g/t silver) from 43.8 metres.
Hole LRD104 returned 16 metres at 0.7% CuEq (0.57% Cu, 0.04% Sn, 1.9 g/t silver) from 80 metres, including 5 metres at 1.5% CuEq (1.2% Cu, 0.07% Sn, 4 g/t silver).
The results add near-surface copper and tin mineralization in the west and extends the mineralization to more than 1.2 km strike. The latest drill results continue to show that the mineralization remains wide open in the west, up-dip and down-dip in some sections. A major exploration program is planned for the recently granted Al Andaluz permit area.
The 2022 plan includes up to 20,000 metres of drilling at the Escacena Project (~40-60 holes), most of which will test targets generated from the regional surveys. A follow-up drill program is expected in the second half of 2022.
Drilling has commenced on the La Jarosa target in Al Andaluz designed to follow-up the historic Exxon drill hole PJ2 1985 which intersected 9.5 metres at 1.42% copper. A second drill hole is also planned to test dip extensions to the mineralization