TSXV: PGZ | OTCQX: PGZFF
| FRA: 2EU
- Bravo is a large, untested gravity anomaly representing
potential massive sulphide
- 1.5km along-trend from Pan Global's La Romana
copper-tin-silver discovery
- 4.5km southwest of the Grupo México controlled
Aznalcóllar and Los Frailes volcanogenic massive sulphide
deposits
VANCOUVER, BC, July 23,
2024 /CNW/ - Pan Global Resources Inc. ("Pan
Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is
pleased to announce the commencement of the maiden exploration
program over the Bravo target ("Bravo") within the Company's
100%-owned Escacena Project ("Escacena") in the Iberian Pyrite
Belt, southern Spain.
"Bravo is one of the highest priority exploration targets in the
Pan Global portfolio due to the large size of the gravity anomaly
and being on-trend only 1.5km from the Company's La Romana
copper-tin-silver discovery. Gravity anomalies are coincident with
the La Romana mineralization (discovered by Pan Global in 2019) and
both the nearby Aznalcóllar-Los Frailes (copper, lead, zinc) and
Las Cruces (copper) deposits. The soil geochemistry and geophysical
surveys now underway at Bravo will guide future drilling and
represent the first ground-based exploration in the target area
since the early 1980's," said Tim
Moody, Pan Global's President & CEO.
Bravo is a prominent 2km x 1.2km gravity anomaly located 1.5km
east of Pan Global's La Romana copper-tin-silver discovery and
4.5km southwest of the Aznalcóllar volcanogenic massive sulphide
(VMS) deposit. The Bravo anomaly was originally identified from
early-1980's gravity survey data and interpreted as potential
concealed massive sulphide mineralization. The target is mostly
covered by post-mineral rocks and sediments and has never been
drill tested.
Planned exploration includes an initial 100m x 50m gravity
survey, soil sample geochemistry, geological mapping and
200m line-spaced dipole-dipole
Induced Polarization (IP) surveys. These surveys are expected to be
completed within three-months and will guide future drill testing
of the Bravo target.
Pan Global looks forward to updating shareholders as the Bravo
exploration program progresses in the coming weeks.
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, El Pozo,
Romana Norte, San Pablo, Zarcita,
Hornitos, La Jarosa, Romana Deep,
and Cortijo.
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.
Qualified Persons
Álvaro Merino. Vice President Exploration for Pan Global
Resources and a qualified person as defined by National Instrument
43-101, has approved the scientific and technical information for
this media release. Mr. Merino is not independent of the
Company.
www.panglobalresources.com
Forward-looking statements
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
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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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SOURCE Pan Global Resources Inc.