Pan Global drills 52.6 metres of 1% CuEq at Escacena, Spain
Pan Global Resources Inc.‘s [PGZ-TSXV; PGNRF-OTC] drilling continues to expand the La Romana copper target at the Escacena Project with significant intercepts of near surface high-grade results. La Romana is located approximately 6km southwest of the former Aznalcollar open pit mine and approximately 15km west of the Las Cruces copper mine, in the Iberian Pyrite Belt, southern Spain.
Tim Moody, President and CEO stated: “The new drilling continues to expand the open pit target and the copper zone remains wide open in all directions. The new results include an exceptional near surface intercept of greater than 50-metre thickness with high copper grades in the eastern strike extension, including an upper interval with high-grade supergene enrichment style chalcocite mineralization. The new results also extend the mineralization down-dip. The simple tabular geometry and moderate dip of the mineralization looks well suited to an open pit.”
Highlights include 52.6 metres at 1.00% copper equivalent (CuEq) (0.76% Cu, 0.05% Sn, 3.8g/t Ag, 0.01g/t Au) from 42.4 metres in LRD40, including 26.6 metres at 1.39% CuEq from 42.4 metres.
Hole LRD39 returned 16 metres at 0.87% CuEq (0.60% Cu, 0.052% Sn, 4.6g/t Ag, 0.017g/t Au) from 38 metres in LRD39, including 10 metres at 1.25% CuEq from 44 metres.
The latest drill results are from four new holes in the Phase 4 drill program at the La Romana discovery. The drill program is testing extensions of the mineralization in all directions.
Holes LRD38 and LRD40 tested eastern extensions of the near-surface copper mineralization. Holes LRD39 and LRD42 targeted down-dip extensions.
Drill holes were inclined towards the south and all reported intervals are approximately true widths.
Hole LRD39 extends near-surface copper mineralization approximately 50 metres along strike to the east of hole LRD36 (23 metres at 1.06% CuEq, including 11 metres at 1.74% CuEq).Drill results confirm that the high-grade near surface copper mineralization extends over a strike length of approximately 700 metres and remains open along strike, down-dip and up-dip. LRD38 and LRD42 extend copper mineralization down-dip coincident with down-hole EM conductor anomalies. The coincident geophysics and copper mineralization indicates the target is wide open and shows excellent potential to significantly expand.
Hole LRD40 shows a significant thick zone of copper mineralization approximately 50 metres east and along strike from hole LRD39. The results also confirm a high-grade supergene-enriched chalcocite zone at the top of the copper interval.
Drill hole LRD42 confirmed the continuation of the copper mineralization approximately 40 metres down-dip from LRD17 which intersected 24.4 metres at 1.03% CuEq. Mineralization remains open down-dip and along strike coincident with a large down-hole EM conductor and IP chargeability anomaly. Significant results include 2.95 metres at 1.37% CuEq (1.26% Cu, 3.5g/t Ag, 0.021g/t Au) from 24.35 metres and 15 metres at 0.85% CuEq from 122 metres, including 9 metres at 1.21% CuEq, including 5 metres at 1.68% CuEq.
Assay results are pending for LRD43 to LRD59 and LRD61. Holes LRD60 and LRD62 are in progress. Additional drill holes will focus on testing for extensions of the thick zone of copper and tin mineralization intersected in hole LRD40 and high-grade supergene enriched copper mineralization.