Bravo target IP survey completed: Drilling to commence within two weeks
Six drillholes completed in current program at Escacena, including new targets and step-out holes at La Romana discovery: assays awaited
Multiple Escacena geophysical targets remain to be tested
VANCOUVER, BC, Feb. 20, 2025 /CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is pleased to provide an update on exploration activities at the Company's 100%-owned copper, tin, gold, silver Escacena Project ("Escacena") in southern Spain.
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"Pan Global has made good progress on the 2025 multi-target drill program at the Escacena Project. This includes three step-out drillholes completed on the west extension of the La Romana near-surface mineralization for inclusion in the maiden mineral resource estimate. Drillholes have also been completed at three new targets, and two drill rigs are currently turning at the Project," said Tim Moody, Pan Global's President and CEO. "The first assay results from these drillholes are expected to start being received in approximately three weeks."
At the high-priority Bravo target, the planned Induced Polarization (IP) survey has been completed following several weather interruptions. The IP survey results are currently being integrated with the electromagnetic, gravity, and soil geochemistry data to finalize drillhole locations. Drilling is expected to commence at the Bravo target within two weeks.
The 2025 plan includes up to 30 drillholes / 7,000 m, aimed at delineating the western extent of the near-surface La Romana copper-tin-silver mineralization and testing at least five new targets at Escacena as well as two targets at the Cármenes Project in northern Spain to help discover additional mineralization. The current drill program is on-track for completion by mid-year. Additional targets are also being advanced and prioritized for future drill testing.
About the Escacena Project
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.
About Pan Global Resources
Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment. The Pan Global team comprises proven talent in exploration, discovery, development, and mine operations - all of which are committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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