TSXV: PGZ | OTCQX: PGZFF
| FRA: 2EU
- Highest near-surface grade-thickness copper intersection in
the current drill program on the growing west extension at La
Romana
- Results include 3.3% copper over 5 meters and 5.0% copper
over 2 meters
- Confirms continuity and higher-grade mineralization remain
wide open
- La Romana is a standalone open-pit target with significant
potential to expand the copper-tin- silver mineralization in
several directions
VANCOUVER, BC, Sept. 10,
2024 /CNW/ - Pan Global Resources Inc. ("Pan Global"
or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is pleased
to announce results for three additional holes from the ongoing
drill program at the La Romana copper-tin-silver (Cu-Sn-Ag)
discovery, in the Company's 100% owned Escacena Project in the
Iberian Pyrite Belt, southern Spain. Results and accompanying
figures shown below.
Highlights:
- Drillhole LRD181 intersected:
- 18.0m at 1.24%
CuEq1 (1.14% Cu, 0.03% Sn, 2.6 g/t Ag) from
69m, including
- 5.0m at 3.51%
CuEq1 (3.33% Cu, 0.06% Sn, 6.8 g/t Ag)
- Drillhole LRD183 intersected:
- 9.0m at 1.31%
CuEq1 (1.27% Cu, 0.01% Sn, 2.7 g/t Ag) from
103m, including
- 2.0m at 5.12%
CuEq1 (5.0% Cu, 0.02% Sn, 10.7 g/t Ag)
- Drillhole LRD182 intersected:
- 7.25m at 0.92%
CuEq1 (0.81% Cu, 0.03% Sn, 2.5g/t Ag) from
132.75m, including
- 4.0m at 1.42%
CuEq1 (1.29% Cu, 0.04% Sn, 3.8g/t Ag)
"These drill results from La Romana are very encouraging,
confirming the near-surface Cu-Sn-Ag mineralization continues and
is open to the west. Drillhole LRD181, with an intercept of 18m of 1.24% CuEq1, represents one of
the best results so-far from the current 25-hole drill program
targeting the western extension of the deposit. The new holes are
40-to-50 meters from the next nearest holes and highlight potential
to extend the higher-grade copper mineralization with further
step-outs. The La Romana mineralization now spans 1.5km east-west,
and shows significant upside potential for further expansion," said
Tim Moody, Pan Global's President
& CEO.
The latest results are part of a 25-hole resource delineation
program at the western extension of the La Romana deposit and the
three drillholes extend the higher-grade copper mineralization in
the west of La Romana. Three additional holes remain to be drilled
as part of the planned delineation drill program in the west of La
Romana, with expansion of the drill program anticipated.
Investor webcast:
The Company will host an investor webcast with CEO Tim Moody on Wednesday,
September 18, 2024 at 1 p.m. Eastern
Time / 10 a.m. Pacific Time to
discuss progress at the Escacena Project and provide an update on
the ongoing work. A Q&A session will follow a short
presentation. Please register in advance:
https://us06web.zoom.us/webinar/register/WN_kdeQWo-3QSu1bfKVl59i8Q.
Table 1 – La Romana Selected Drill Results
|
Hole
ID
|
From
|
To
|
Interval
|
CuEq1
|
Cu
|
Sn
|
Ag
|
Au
|
Pb
|
Zn
|
True
Thickness
|
|
m
|
m
|
m
|
%
|
%
|
%
|
g/t
|
g/t
|
ppm
|
ppm
|
(m)
|
|
LRD181
|
69.00
|
87.00
|
18.00
|
1.24
|
1.14
|
0.03
|
2.6
|
0.01
|
13
|
106
|
12.7
|
|
including
|
74.00
|
86.00
|
12.00
|
1.76
|
1.62
|
0.05
|
3.6
|
0.01
|
14
|
125
|
8.5
|
|
including
|
81.00
|
86.00
|
5.00
|
3.51
|
3.33
|
0.06
|
6.8
|
0.03
|
21
|
201
|
3.5
|
|
and
|
125.00
|
134.00
|
9.00
|
0.66
|
0.45
|
0.08
|
1.1
|
0.01
|
4
|
57
|
6.4
|
|
including
|
130.00
|
132.00
|
2.00
|
1.49
|
1.09
|
0.14
|
3.3
|
0.04
|
13
|
91
|
1.4
|
|
LRD182
|
132.75
|
140.00
|
7.25
|
0.92
|
0.81
|
0.03
|
2.5
|
0.02
|
109
|
354
|
5.1
|
|
including
|
136.00
|
140.00
|
4.00
|
1.42
|
1.29
|
0.04
|
3.8
|
0.03
|
142
|
523
|
2.8
|
|
and
|
192.00
|
198.00
|
6.00
|
0.27
|
0.24
|
0.01
|
0.7
|
0.01
|
6
|
48
|
4.2
|
|
including
|
197.00
|
198.00
|
1.00
|
1.09
|
0.98
|
0.04
|
2.8
|
0.02
|
23
|
73
|
0.7
|
|
and
|
205.00
|
207.00
|
2.00
|
0.65
|
0.51
|
0.05
|
0.3
|
0.05
|
19
|
63
|
1.4
|
|
LRD183
|
103.00
|
112.00
|
9.00
|
1.31
|
1.27
|
0.01
|
2.7
|
0.01
|
8
|
100
|
8.5
|
|
including
|
106.00
|
112.00
|
6.00
|
1.89
|
1.83
|
0.02
|
3.8
|
0.02
|
9
|
120
|
5.7
|
|
Including
|
110.00
|
112.00
|
2.00
|
5.12
|
5.00
|
0.02
|
10.7
|
0.04
|
22
|
232
|
1.9
|
|
and
|
149.00
|
159.00
|
10.00
|
0.33
|
0.26
|
0.02
|
0.3
|
0.02
|
6
|
54
|
9.5
|
|
1 Copper Equivalent = CuEq. CuEq
is calculated using Cu, Sn, and Ag grades. Metallurgical recoveries
include 86% for Cu, 68% for Sn and 56% for Ag, based on preliminary
studies performed by Wardell Armstrong International and MinePro.
The CuEq calculation uses US$ 8,693/tonne Cu, US$ 29,069/tonne Sn
and US$ 23.72/oz Ag, corresponding to the three-year monthly price
averages to July 2023. The effective formula is [CuEq %] = [Cu %] +
2.6440 * [Sn %] + 0.0057 * [Ag ppm]
|
Table 2 – La Romana Drillhole Collar Information
(total 658.95m)
|
Hole
ID
|
Easting2
|
Northing2
|
Azimuth
(º)
|
Dip
(º)
|
Length
(m)
|
|
LRD181
|
735894
|
4152788
|
180
|
-90
|
181.15
|
|
LRD182
|
735868
|
4152878
|
156
|
-90
|
271.5
|
|
LRD183
|
735833
|
4152902
|
200
|
-60
|
206.3
|
|
2
Coordinate system: UTM29N ERTS89
|
Note that in Figure 2 and Figure 3 above, drillholes
LRD 169 and LRD 172 were previously reported in a
November 7, 2023 media release, "Pan
Global Intersects 1.04% Copper Over 15.9 Meters at Western
Expansion of La Romana Copper-Tin-Silver Discovery" and
LRD 179 was previously reported in a
January 8, 2024 media release, "Pan
Global Intersects 1.6% Copper Over 9.7 Meters Confirming Continuity
of La Romana Copper-Tin-Silver Discovery Over 1.4km".
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 with
construction anticipated to start in 2024. 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 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.
QA/QC Procedures
Core size was HQ (63mm) and all samples were ½ core. Nominal
sample size was 1m core length and
ranged from 0.5 to 2m. Sample
intervals were defined using geological contacts with the start and
end of each sample physically marked on the core. Diamond blade
core cutting and sampling was supervised at all times by Company
staff. Duplicate samples of ¼ core were taken approximately every
30 samples and Certified Reference materials inserted every 25
samples in each batch.
Samples were delivered to ALS laboratory in Seville, Spain and assayed at the ALS
laboratory in Ireland. All samples
were crushed and split (method CRU-31, SPL22Y), and pulverized
using (method PUL-31). Gold analysis was by 50gm fire assay with
ICP finish (method Au-ICP22) and multi element analysis was
undertaken using a 4-acid digest with ICP AES finish (method
ME-ICP61). Over grade base metal results were assayed using a
4-acid digest ICP AES (method OG-62).
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
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
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SOURCE Pan Global Resources Inc.